Common use of Authorization for Payment Clause in Contracts

Authorization for Payment. On automatic Life cases, except when the claim occurs in the contestable period, OPTIMUM RE will accept THE COMPANY's decision on claim payment of amounts up to THE COMPANY's automatic reinsurance limit as specified in SCHEDULE A. On all claims which occur in the contestable period, on facultative cases, or when the amount exceeds the automatic reinsurance limits specified in SCHEDULE A, THE COMPANY must obtain OPTIMUM RE's non-binding opinion regarding the reinsurance liability prior to acknowledgment of its liability to the claimant.

Authorization for Payment. On automatic Life cases, except when the claim occurs in the contestable period, OPTIMUM RE will accept THE COMPANY's ’s decision on claim payment of amounts up to THE COMPANY's ’s automatic reinsurance limit as specified in SCHEDULE A. On all claims which occur in the contestable period, or on facultative cases, or when the amount exceeds the automatic reinsurance limits specified in SCHEDULE Athat described above, THE COMPANY must obtain OPTIMUM RE's ’s non-binding opinion regarding the reinsurance liability prior to acknowledgment of its liability to the claimant.

Authorization for Payment. On automatic Life cases, except when the claim occurs in the contestable period, OPTIMUM RE INVESTORS HERITAGE will accept THE COMPANY's ’s decision on claim payment of amounts up to THE COMPANY's ’s automatic reinsurance limit as specified in SCHEDULE A. On all claims which occur in the contestable period, or on facultative cases, or when the amount exceeds the automatic reinsurance limits specified in SCHEDULE Athat described above, THE COMPANY must obtain OPTIMUM RE's INVESTORS HERITAGE’s non-binding opinion regarding the reinsurance liability prior to acknowledgment of its liability to the claimant.