Underwriting Authority Clause Samples

Underwriting Authority. A. The Agency, as an independent contractor of the Company, subject to any requirements imposed upon the Agency and the Company by any governmental entity, the terms of this Agreement, and the underwriting rules and regulations of the Company, is authorized and is delegated responsibility to: 1. Solicit applications for Policies through duly licensed agents in the State of Texas. The Company shall forward to the Agency a copy of the Company's Underwriting Rules, Regulations, and Guidelines ("Underwriting Rules") for use by the Agency in processing such applications and submitting to the Company those which might be accepted by the Company on a facultative basis or as may be otherwise specified in such Underwriting Rules. The Company may amend its Underwriting Rules at any time by providing the Agency written notice thereof, and the Agency shall thereafter process the Policies pursuant to such amended guidelines and procedures. The Underwriting Rules include the basis of rates to be charged, the lines of insurance which may be written, maximum limits of liability, applicable exclusions, territorial limitations, cancellation provisions, the maximum policy period, and control of policy issuance. 2. Issue Policies on behalf of the Company to qualifying risks accepted under the Underwriting Rules and issue all related, required statutory and regulatory notifications, if any. The parties hereto acknowledge that the Agency has been furnished copies of the Company's rates, policy forms and endorsements. 3. Maintain control procedures related to binder, policy and notification issuance to facilitate audit of such activities by the Company and/or the Insurance Commissioner, or equivalent authority, of the State of Texas. 4. Provide a risk management information system that will track, account, and report to the Company premium, commissions, losses, loss reserves, allocated and unallocated claim costs, claim incidence detail, indemnity and medical payments. During the term of this Agreement, the Agency shall use underwriting and risk management information on behalf of the Company. 5. Assure that the Company complies with any required reports or data calls related to the Policies. 6. Assure that in the event any Policy is issued with a deductible endorsement and the Underwriting Rules require collateralization, that the policyholder collateralize all unpaid deductible obligations actuarially valued to their ultimate cost with collateral acceptable to the Company. In ...

Underwriting Authority. The Manager shall have the authority to bind the Company to the following risks underwritten in accordance with the Company’s underwriting guidelines: 1. Direct Business: (a) Coverage - fire and homeowners multi-peril and certain ancillary coverages defined as follows: Fire Allied Lines Homeowners Multi-Peril Earthquake Other Liability Glass Burglary & Theft Industrial Fire Mobile Home Multi-Peril Mobile Home Physical Damage (b) Territory - the state of Florida

Underwriting Authority. Underwriting authority will be delegated to the following individuals: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇.

Underwriting Authority. 7.1 The General Agent is granted underwriting authority consistent with the rights, responsibilities and obligations set forth in this Agreement and consistent with written underwriting directives or guidelines provided to the General Agent by the Company from time to time. The Company will also supply the General Agent with revisions and amendments to any such written underwriting directives and guidelines as such revisions and amendments are adopted from time to time. It shall be the responsibility of the General Agent to maintain such written underwriting directives and guidelines, including any revisions and amendments, so that the General Agent will be operating pursuant to a current set of underwriting directives and guidelines. All underwriting decisions will be thoroughly and timely documented. The General Agent shall allow the Company to review and/or audit the General Agent's copies of written underwriting directives and guidelines and underwriting files upon request during normal business hours.

Underwriting Authority. The Attorney-in-Fact shall have the authority to bind the Company to the following risks underwritten in accordance with the Company’s underwriting guidelines: 1. Direct Business: (a) Coverages defined as follows: Fire Allied Coverages Inland Marine Automobile-Liability & Physical Damage Liability other than Automobile Glass Burglary & Theft Reinsurance (on all lines authorized to be written on a direct basis) (b) Territory - the State of Texas

Underwriting Authority. Trinity shall have authority to issue, amend by endorsement and cancel contracts of insurance; to accept and decline risks with full underwriting authority; to collect premiums; to reject, adjust, compromise and pay losses; to pay for surveys; and generally to do everything necessary for the administration of the insurance business conducted pursuant to the Agreement.

Underwriting Authority