Common use of COMPENSATION AND SETTLEMENT Clause in Contracts

COMPENSATION AND SETTLEMENT. 4.1. Time of payment (Articles 1591, 2469 and 2473 CCQ)–The insurer shall pay the indemnity within sixty (60) days after receiving the notice of loss or, at their request, all relevant information and vouchers, provided the lnsured shall have complied with all the terms of the contract. 4.2. Limitation of actions (Article 2925 CCQ)–Every action or proceeding against the insurer under this Policy shall be commenced within three (3) years from the date the right of action has arisen. 4.3. Subrogation (Article 2474 CCQ)–Unless otherwise provided, the insurer shall be subrogated to the extent of the amount paid or the liability assumed therefore under this Policy to the rights of the insured against persons responsible for the loss except when they are members of the insured’s household. The insurer may be fully or partly released from its obligation towards the insured where, owing to any act of the insured, it cannot be so subrogated.

COMPENSATION AND SETTLEMENT. 4.1. Time of payment (Articles 1591, 2469 and 2473 CCQ)–The insurer CCQ) The Insurer shall pay the indemnity within sixty (60) days after receiving the notice of loss or, at their request, all relevant information and vouchers, provided the lnsured shall have complied with all the terms of the contract. 4.2. Limitation of actions (Article 2925 CCQ)–Every CCQ) Every action or proceeding against the insurer Insurer under this Policy shall be commenced within three (3) years from the date the right of action has arisen. 4.3. Subrogation (Article 2474 CCQ)–Unless CCQ) Unless otherwise provided, the insurer Insurer shall be subrogated to the extent of the amount paid or the liability assumed therefore under this Policy to the rights of the insured Insured against persons responsible for the loss except when they are members of the insuredInsured’s household. The insurer Insurer may be fully or partly released from its obligation towards the insured Insured where, owing to any act of the insuredInsured, it cannot be so subrogated.