REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. In providing reinsurance facilities to the Company under this Agreement, the Reinsurer has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, the Reinsurer has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. The Reinsurer assumes that, except as otherwise notified in writing by the Company, and agreed to in writing by the Reinsurer, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. Where the Company does engage in exceptional or uncustomary practices or implements a change in its underwriting rules or guidelines, with respect to business covered under this Agreement, the Company agrees to advise the Reinsurer in writing forty-five (45) days prior to implementing such practice or change and receive a written acceptance of said practice or change from the Reinsurer before assigning any liability to the Reinsurer with respect to any reinsurance issued under such practice or change. The Company acknowledges and agrees that its covenant to the Reinsurer to so advise the Reinsurer of any exceptional or uncustomary practice or implementation of such a significant change is a material incentive to the Reinsurer agreeing to enter into this Agreement, and absent such a covenant, the Reinsurer would not have entered into this Agreement. ...END OF ARTICLE XVI
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. In providing reinsurance facilities to the Company under this Agreement, Life Re has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, Life Re has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. Life Re assumes that, except as otherwise notified by the Company, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. If the Company changes or modifies its practices or engages in exceptional or uncustomary practices, the Company agrees to make those practices known to Life Re before assigning any liability to Life Re with respect to any reinsurance issued under such practices.
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. In providing reinsurance facilities to the Company under this Agreement, the Reinsurer has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, the Reinsurer has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. The Reinsurer assumes that, except as otherwise notified in writing by the Company and agreed to in writing by the Reinsurer, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. The Company will provide written notice to the Reinsurer of any material changes in its underwriting rules or guidelines with respect to business covered under this Agreement subject to the following:
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. In providing reinsurance facilities to the Company under this Agreement, Life Re has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, Life Re has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. Life Re assumes that, except as otherwise notified by the Company, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. In providing reinsurance facilities to the Company under this Agreement, the Reinsurer has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, the Reinsurer has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. The Reinsurer assumes that, except as otherwise notified by the Company, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. If the Company changes or modifies its practices or engages in exceptional or uncustomary practices, the Company agrees to make those practices known to the Reinsurer before assigning any liability to the Reinsurer with respect to any reinsurance issued under such practices.
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. 1. In providing reinsurance facilities to the Company under this Agreement, Swiss Re America has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, Swiss Re America has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. Swiss Re America assumes that, except as otherwise notified by the Company, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. Where the Company does engage in exceptional or uncustomary practices, the Company agrees to make those practices known to Swiss Re America before assigning any liability to Swiss Re America with respect to any reinsurance issued under such practices. SWISS RE AMERICA
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. The parties acknowledge and agree that the Reinsurer has placed its utmost good faith and confidence in the Administrator, and the parties assume that, except as otherwise notified by the Administrator, the underwriting, claims and other insurance practices employed by the Administrator with respect to the reinsurance under this Agreement are consistent with the customary and usual practices of the insurance industry as a whole. Where the Administrator does engage in exceptional or uncustomary practices, the Company and the Administrator each agree to notify the Reinsurer of such practices. The parties agree that the Administrator's failure to so notify the Reinsurer will result in the Reinsurer having no liability hereunder with respect to Losses relating to such exceptional or uncustomary practices. The Administrator agrees to indemnify and hold harmless the Company and the Reinsurer from and against any losses, damages, liabilities, costs, or expenses incurred by the Company or the Reinsurer, as applicable, as a result of the Administrator's willful or grossly negligent exceptional or uncustomary practices as described in this Article VIII.
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. Article XIV Arbitration
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. 1. In providing reinsurance facilities to the Company under this Agreement, Swiss Re Life & Health has granted the Company considerable authority with respect to automatic binding power, reinstatements, claim settlements, and the general administration of the reinsurance account. To facilitate transactions, Swiss Re Life & Health has required the minimum amount of information and documentation possible, reflecting its utmost faith and confidence in the Company. Swiss Re Life & Health assumes that, except as otherwise notified by the Company, the underwriting, claims and other insurance practices employed by the Company with respect to reinsurance ceded under this Agreement are generally consistent with the customary and usual practices of the insurance industry as a whole. Where the Company does engage in exceptional or uncustomary practices, the Company agrees to make those practices known to Swiss Re Life & Health before assigning any liability to Swiss Re Life & Health with respect to any reinsurance issued under such practices.
REINSURER'S RIGHT OF NOTICE OF UNUSUAL PRACTICES. The parties acknowledge and agree that the Reinsurer has placed its utmost good faith and confidence in the Administrator, and the parties assume that except as otherwise notified by the Administrator, the underwriting, claims and other insurance practices employed by the Administrator with respect to the reinsurance under this Agreement are consistent with the customary and usual practices of the insurance industry as a whole. Where the Administrator does engage in exceptional or uncustomary practices, the Company and the Administrator agrees to notify the Reinsurer of such practices. The parties agree that the Administrator's failure to so notify the Reinsurer will result in the Reinsurer having no liability hereunder with respect to Liabilities relating to such exceptional or uncustomary practices.
