Terms of Business Agreement. Except as expressly stated, references to a statute or any section of any statute include any statutory amendment, modification or re-enactment and instruments and regulations under it in force from time to time. References to regulatory rules include any amendments or revisions to such rules from time to time; references to regulatory authorities refer to any successor regulatory authorities.
Terms of Business Agreement. Services provided Negotiation and Placing Reinsurers
Terms of Business Agreement. Your Appointment as our Agent
Terms of Business Agreement. 2.1 Except as expressly stated, references to a statute or any section of any statute include any statutory amendment, modification or re-enactment and instruments and regulations under it in force from time to time. References to regulatory rules include any amendments or revisions to such rules from time to time; references to regulatory authorities refer to any successor regulatory authorities.
2.2 Where expressions are not specifically defined and are capable of having a special meaning according to the usage or custom of the relevant business, such expressions are to be interpreted accordingly. References to a party shall mean either party to this Agreement as the context dictates unless otherwise specified.
2.3 The singular includes the plural and vice versa and any words importing gender include the other gender.
2.4 The headings in this Agreement are for convenience only and shall not affect its interpretation.
Terms of Business Agreement. INTERPRETATION The Parties agree that the following terms shall have the following meanings for the purpose of this Agreement:
Terms of Business Agreement. Where claims are not straightforward or where the complexities of cover or the technical nature of the subject matter cause difficulty in progressing a claim, we have a team of insurance claims advocates who are experienced in negotiating difficult or complex claims, and managing the settlement process. If you wish to avail yourself of the services of our insurance claims advocates, please note that we reserve the right to charge additional remuneration. Where we collect claims payments these will be remitted to you as quickly as possible. However, we will not remit claims monies to you before we have received them from insurers. We advise that we may be granted authority by insurers, for example under a binding authority, managing general agency or a lineslip agreement, to settle claims on your insurance. We settle such claims made within the terms and conditions of the authority granted and your contract. It is our policy to refer claims to insurers for settlement decision where we are not able to settle the claim on a 100% basis. Further, if there is a conflict of interest we shall manage it in accordance with our conflicts policy – see Conflicts of Interest below.
Terms of Business Agreement to the extent we are required to do so by law or where requested or required to do so by a regulator;
Terms of Business Agreement. In certain circumstances, Xxxxxx Xxxxxx Xxxxxx, will have entered into agreements to undertake work on behalf of insurers for which Xxxxxx Xxxxxx Xxxxxx will receive remuneration from the insurer. The work undertaken by Xxxxxx Xxxxxx Xxxxxx under these agreements is usually performed by the Insurer, but however transferring these activities to Xxxxxx Xxxxxx Xxxxxx leads to administrative efficiencies for the Insurer. We will advise you should we receive this type of remuneration in the course of servicing your business.
Terms of Business Agreement. Issued 11 May 2021 3. Your Obligations We will rely on the accuracy and completeness of the information you provide to us. We do not independently verify the information you provide before sending it to the insurer. Before you enter into, vary or renew an insurance contract, you have a legal duty to disclose all material facts and information that are relevant to the insurer’s decision whether to accept the risk. Carefully review your insurance contract to ensure it accurately reflects the cover, conditions, limits and other terms that you require. If the contract does not meet your needs, please contact us immediately. For further information about your legal duty of disclosure and about your insurance, please refer to our FSG.
