Common use of STANDARD FOR COMPLIANCE Clause in Contracts

STANDARD FOR COMPLIANCE. The Company shall be deemed in compliance with the Handbook’s maximum tolerance standard for claim procedures (presently 7%) unless the collective number of claim files with errors for the Company and its affiliated companies executing substantially similar agreements as of this date (the “Group”) results in an error rate that exceeds such maximum tolerance standard. Such error rate(s) shall be determined by the Lead Regulators’ review of separate statistically credible random samples of the total files for the Group’s long term group and individual disability income insurance claims denied or benefits terminated on or after the Implementation Date, in accordance with paragraph B.3.i above. Separate Group error rates shall be determined for the Group’s long term: (i) group disability income claims; and, (ii) individual disability income claims.

STANDARD FOR COMPLIANCE. The Company UnumProvident Companies shall be deemed in compliance with the Handbook’s maximum tolerance standard for claim procedures (presently 7%) unless the collective number of claim files with errors for the Company and its affiliated companies executing substantially similar agreements as of this date (the “Group”) results in an error rate that exceeds such maximum tolerance standard. Such error rate(s) shall be determined by the Lead Regulators’ review of separate statistically credible random samples of the total files for the Group’s long term group and individual disability income insurance claims denied or benefits terminated on or after the Implementation Date, in accordance with paragraph B.3.i above. Separate Group error rates shall be determined for the Group’s long term: (i) group disability income claims; and, (ii) individual disability income claims.