Common use of Submission of Applications Clause in Contracts

Submission of Applications. Producers will follow the administrative procedures established by Insurance Companies and communicated to Producers with regard to the processing and submission of applications and related documents for the Products. Until a policy or contract is delivered, Producers will provide the appropriate Insurance Company all information, whether favorable or unfavorable, which comes into Producers’ possession concerning the underwriting of any risks under a Product. Producers will forward all applications and related documents received by Producers in connection with the Products to the appropriate Insurance Company’s designated office promptly after receipt. All applications and related documents must be on forms supplied by the appropriate Insurance Company and are subject to acceptance or rejection by such Insurance Company in its sole discretion. Producers have no right of action against any Insurance Company or Distributors based on the refusal of an Insurance Company, for any reason, to issue or amend a policy.

Submission of Applications. Producers will follow the administrative procedures established by Insurance Companies and communicated to Producers with regard to the processing and submission of applications and related documents for the Products. Until a policy or contract is delivered, Producers will provide the appropriate Insurance Company all information, whether favorable or unfavorable, which comes into Producers’ possession concerning the underwriting of any risks under a Product. Producers will forward all [page break] applications and related documents received by Producers in connection with the Products to the appropriate Insurance Company’s designated office promptly after receipt. All applications and related documents must be on forms supplied by the appropriate Insurance Company and are subject to acceptance or rejection by such Insurance Company in its sole discretion. Producers have no right of action against any Insurance Company or Distributors based on the refusal of an Insurance Company, for any reason, to issue or amend a policy.