Policy Administration Services Sample Clauses

Policy Administration Services. If policy services are to be provided pursuant to a particular Service Addendum, then, unless otherwise specifically noted in such Service Addendum, that Service Addendum will be deemed to require the policy administration services set forth in this subsection. Specifically, INSpire will: (i) provide the technical and administrative services to support the acquisition of policies; (ii) provide the necessary functions to satisfy all applicable insurance department instructions for the specific services provided under this Agreement; (iii) develop expert system rules to incorporate Customer's desired risk profiles. Each Party acknowledges and understands that INSpire will not be defining any underwriting guidelines for any Customer; (iv) issue Customer's policies, process renewals, cancellations, and reinstatements. INSpire will use such non-renewal or cancellation notices as may be required by policy wording or regulatory authority. Customer will advise INSpire of appropriate wording; (v) process invoices for additional premiums and renewal bills; (vi) process refunds for return premiums; (vii) handle inquiries from Producers, insureds, premium finance and mortgage companies and other relevant third parties (e.g. mortgagees); (viii) provide data processing support for policy processing, including imaging of documents, data entry; editing, expert system underwriting, electronic workflow, rating, coding, reporting, accounting, and maintenance of policy records; (ix) insure that personnel assigned to support Customer are appropriately licensed and trained and are provided with the necessary space, furniture, fixtures, electrical power, computer connections, telephones, and other required assets to support the services; (x) mail all necessary policy documents and promotional material/marketing items at Customer's expense to relevant parties; (xi) support Customer billing through direct bill; (xii) provide accounting services for prxxxxms by receiving and distributing premiums, maintaining trust accounts, agency accounts and paying Producer commissions, in accordance with Customer's obligations including, but not limited to:

Policy Administration Services. Policy Administration fees shall be equal to 7.15% of the Written Premium recognized by the Client for each month, subject to a monthly minimum of $lQ0,000.O0.

Policy Administration Services. 2 1.04 Annuity Contract Administration Services...........................................................................2 1.05 Policies...........................................................................................................2 1.06 Contracts..........................................................................................................2 1.07 Products...........................................................................................................2 SECTION 2 TERM...................................................................................................................2

Policy Administration Services. Except as specifically noted in this Section 4.a, INSpire will provide the policy claims services set forth in Section 1.1(c) of the Agreement and the general management of such services:

Policy Administration Services. $6.68 per month, per in-force policy. Policy administration fees are subject to a minimum of $100,000 per month, during which services are provided. Effective January 1, 2000, the administration fees are subject to a minimum of $30,000 per month. In lieu of all other fees listed in this Policy Administration Services section of Section 5, Customer agrees to pay, with regard to the AgriBusiness program, a monthly service fee to INSpire of 0.5% of the in-force premium on said policies, but subject to a minimum monthly fee of $28,000 for so long as Customer has any in-force premium on said policies. At such time as there is no in-force premium on said policies INSpire will have no obligations with respect to said policies.

Policy Administration Services. Policy administration fees for each month from the Addendum Effective Date until October 31, 1999 (the "Initial Period") will be equal to 15.10% of the Direct Written Premiums recognized by Customer for such month, subject to a minimum monthly policy administration fee of $251,667. Policy administration fees for each month subsequent to the Initial Period will be equal to 10.00% of the Direct Written Premiums recognized by Customer for each such month, subject to a minimum monthly policy administration fee of $150,000.