Administration of Policies Clause Samples

The Administration of Policies clause outlines the procedures and responsibilities for managing and overseeing insurance policies within an agreement. It typically specifies which party is responsible for obtaining, maintaining, and providing evidence of required insurance coverage, as well as how changes or renewals to the policies should be handled. This clause ensures that all necessary insurance protections are in place and properly managed throughout the term of the contract, thereby reducing the risk of lapses in coverage and clarifying each party's obligations regarding insurance administration.
Administration of Policies. FLIC, or its designee, shall administer and service all Policies reinsured hereunder and perform all accounting for such Policies commencing on the Effective Date of this Agreement.
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Administration of Policies. (a) The Company will have the ultimate authority for the administration of the Policies. Notwithstanding the foregoing, the Company will administer the Policies pursuant to servicing standards mutually agreed upon by the Company and the Reinsurer, and in no event shall the Company administer the Policies in any manner that is not in accordance with all Requirements of Law and with standard industry custom, except to the extent that the failure to be in accordance with such Requirements of Law and standard industry custom would not have a Material Adverse Effect. (b) The Company will indemnify and hold harmless the Reinsurer, its officers, directors, employees, and agents (each as "Indemnified Party") from, and shall reimburse as Indemnified Party for, all loss arising out of any claim against such Indemnified Party arising out of any action or failure to act by the Company or its representatives in respect of the administration of the Policies. For purposes of this subsection, "loss" shall include all fees, costs, penalties, judgments and expenses of any kind reasonably incurred by an Indemnified Party in investigating, preparing for, defending against or taking any other action with respect to a threatened or asserted claim.
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Administration of Policies. Pursuant to the Transition Services Agreement, Reinsured shall be responsible for the administration and service of the Policies reinsured hereunder. The parties acknowledge that Reinsured has concurrently herewith delegated effective on the date of the termination of the Transition Services Agreement such responsibilities to Reinsurer pursuant to the Administrative Services Agreement, and the parties each consent to such delegation.
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Administration of Policies. 4.2.1. The Broker shall be entitled to request quotes, either directly or on an online quoting platform developed by King Price; 4.2.2. King Price shall be entitled to rely on the information supplied by the Broker and the Broker shall be held accountable should such information be incorrect or in the event that material facts, that should reasonably be within the knowledge of the Broker, be omitted, which information in any way adversely affects the policy or any claim submitted against such policy, King Price will in all instances in the absence of a written broker or outsource agreement reconfirm all material information directly with the prospective insured and utilise this information for the underwriting and claims procedure in respect of the relevant policy. 4.2.3. A written broker or outsourcing agreement between King Price and the Broker will be required to be entered into between the Parties in the event that the Broker or its authorised representatives or employees wish to perform any of the following functions:
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Administration of Policies. 10 Section 5.2. Reports.................................................................. 10 Section 5.3. Tax Treatment............................................................ 11 Section 5.4. DAC Tax Reimbursement.................................................... 11 Section 5.5. Reserves................................................................. 13 Section 5.6. Crediting Rates.......................................................... 14 Section 5.7. Third Party Reinsurance.................................................. 15 ARTICLE 6 - ERRORS..................................................................................... 16
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Administration of Policies. Judgment necessary in order to administer these policies will be made by the Superintendent.
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Administration of Policies. The Ceding Company will administer the Policies and will perform all accounting for the Policies and will keep records sufficient to reasonably demonstrate the liability of the Reinsurer under this Agreement. With respect to underwriting, claims and other administration practices for the Policies, the Ceding Company shall act (i) at its own expense (except as otherwise provided herein); (ii) in good faith and with reasonable care; (iii) consistent in all material respects with its then current practice governing the servicing of its and its affiliates’ business generally; and (iv) in accordance in all material respects with the terms of the Policies and Applicable Law.
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Administration of Policies. The Cedant will keep all books and records in connection with the Policies and reinsurance as would reasonably be expected of a prudent insurance company and will keep records sufficient to reasonably demonstrate the liability of the Reinsurer under this Agreement. The Cedant will administer the Policies and perform all administration, accounting and reporting for the Policies. The Cedant will perform the administration of all claims arising out of the Policies and will have the sole responsibility for the settlement of claims with its claimants. In addition to the inspection rights described in Article XVII - Inspection, the Reinsurer shall have the right to review proofs of Claim payments due or paid which the Cedant shall promptly furnished to the Reinsurer upon request.
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Administration of Policies. 3 - i - 62 TABLE OF CONTENTS (cont.)
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Related to Administration of Policies

  • Application of Policy The policy is to apply to everyone on site without distinction.

  • Form of Policies The minimum limits of policies of insurance required of Tenant under this Lease shall in no event limit the liability of Tenant under this Lease. Such insurance shall (i) name Landlord, its subsidiaries and affiliates and any other party the Landlord so specifies, as an additional insured, as applicable, including Landlord’s managing agent, if any; (ii) cover the liability assumed by Tenant under this Lease; (iii) be issued by an insurance company having a rating of not less than A:VIII in Best’s Insurance Guide or which is otherwise acceptable to Landlord and licensed to do business in the State of North Carolina; (iv) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and is non-contributing with any insurance required of Tenant; (v) be in form and content reasonably acceptable to Landlord; and (vi) provide that said insurer shall endeavor to provide written notice to Landlord and any mortgagee of Landlord, to the extent such names are furnished to Tenant prior to the cancellation of such policy. Tenant shall deliver said policy or policies or certificates thereof to Landlord on or before the earlier to occur of (A) the Lease Commencement Date, and (B) the date upon which Tenant is first provided access to the Premises, and at least ten (10) days before the expiration dates thereof. In the event Tenant shall fail to procure such insurance, or to deliver such policies or certificate within ten (10) days after written notice from Landlord, Landlord may, at its option (upon notice to Tenant), procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor.

  • Dissemination of Policy All members of the contractor's staff who are authorized to hire, supervise, promote, and discharge employees, or who recommend such action, or who are substantially involved in such action, will be made fully cognizant of, and will implement, the contractor's EEO policy and contractual responsibilities to provide EEO in each grade and classification of employment. To ensure that the above agreement will be met, the following actions will be taken as a minimum: a. Periodic meetings of supervisory and personnel office employees will be conducted before the start of work and then not less often than once every six months, at which time the contractor's EEO policy and its implementation will be reviewed and explained. The meetings will be conducted by the EEO Officer. b. All new supervisory or personnel office employees will be given a thorough indoctrination by the EEO Officer, covering all major aspects of the contractor's EEO obligations within thirty days following their reporting for duty with the contractor. c. All personnel who are engaged in direct recruitment for the project will be instructed by the EEO Officer in the contractor's procedures for locating and hiring minorities and women. d. Notices and posters setting forth the contractor's EEO policy will be placed in areas readily accessible to employees, applicants for employment and potential employees. e. The contractor's EEO policy and the procedures to implement such policy will be brought to the attention of employees by means of meetings, employee handbooks, or other appropriate means.

  • Statement of Policy The Employer shall issue and make available to the Union a statement of policy in respect to leaves of absence and any other assistance which it may make available to Employees who desire to seek leave for educational purposes.

  • Administration of Plan The Plan is administered by the Committee appointed by the Company’s Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding awards pursuant to the Plan, and to require of any person receiving an award, at the time of such receipt or lapse of restrictions, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any State, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall in its discretion, deem necessary by reason of the Internal Revenue Code or any rule or regulation thereunder, or by reason of the tax laws of any State.