Procedure Governing Arbitration. All proceedings before the panel shall be informal and the panel shall not be bound by the formal rules of evidence. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding. In reaching any decision, the panel shall give due consideration to the custom and usage of the insurance and reinsurance business and the mutual intention of the parties as reflected in this Agreement.
Appears in 3 contracts
Samples: Aggregate Loss Portfolio Reinsurance Agreement (White Mountains Insurance Group LTD), Administrative Services Agreement (White Mountains Insurance Group LTD), Aggregate Loss Portfolio Reinsurance Agreement (OneBeacon Insurance Group, Ltd.)
Procedure Governing Arbitration. All proceedings before the panel shall be informal and the panel shall not be bound by the formal rules of evidence. The panel shall have the power to fix all procedural rules relating to the arbitration proceeding. In reaching any decision, the panel shall give due consideration to the custom customs and usage of the insurance and reinsurance business and the mutual intention of the parties as reflected in this Agreementbusiness.
Appears in 2 contracts
Samples: Coinsurance and Yearly Renewable Term Reinsurance Agreement (American Equity Investment Life Holding Co), Management Contract (White Mountains Insurance Group LTD)
