Underwriting; Claims; Actuarial Sample Clauses
The 'Underwriting; Claims; Actuarial' clause defines the responsibilities and procedures related to the assessment of insurance risks, the handling of claims, and the use of actuarial analysis within an insurance agreement. It typically outlines how underwriting decisions are made, the process for submitting and evaluating claims, and the methods for calculating premiums and reserves based on actuarial data. By clearly delineating these processes, the clause ensures that both parties understand how risks are evaluated, claims are managed, and financial obligations are determined, thereby promoting transparency and reducing the potential for disputes.
Underwriting; Claims; Actuarial. Alter or amend in any material respect any existing underwriting, pricing, claim handling, loss control, reserving, investment or actuarial practice, guideline or policy or any material assumption underlying an actuarial practice or policy, except as may be required by GAAP, Applicable SAP, any Governmental Authority or applicable Laws;