Common use of CLAIM SETTLEMENTS Clause in Contracts

CLAIM SETTLEMENTS. All claim settlements made by PRISM, under the Excess Workers’ Compensation Program Memorandums of Coverage reinsured hereunder, shall be binding upon the Reinsurer. Upon receipt of satisfactory proof of loss, the Reinsurer agrees to reimburse PRISM in accordance with this reinsurance Agreement.

CLAIM SETTLEMENTS. All claim settlements made by PRISM, under the Excess Workers’ Compensation General Liability 1 Program Memorandums of Coverage reinsured hereunder, shall be binding upon the Reinsurer. Upon receipt of satisfactory proof of loss, the Reinsurer agrees to reimburse PRISM in accordance with this reinsurance Agreement.