HANDLING OF CERTAIN TYPES OF CLAIMS SERVICES Clause Samples

HANDLING OF CERTAIN TYPES OF CLAIMS SERVICES. (a) URC shall initially handle the following claims: (i) Extra-Contractual Liabilities claims arising under any of the Covered Contracts; for the avoidance of any doubt, URC shall handle all other aspects of any claims arising under any of the Covered Contracts (other than Extra-Contractual Liabilities); (ii) liability claims over $1 million net; (iii) property or other claims over $1 million net; (iv) claims that in URC's best professional judgment have the potential to exceed the amounts set forth in (ii) or (iii) above; or (v) claims identified by Royal Insurer Affiliates in their sole discretion. Provided, however, that any claim involving a matter set forth in (i)-(iv) above shall be promptly reported by URC to the Royal Insurer Affiliates, with such report to be provided to the Royal Insurer Affiliates within three (3) Business Days from the date when URC first becomes aware of any such claim. URC shall continue to handle any claim involving a matter set forth in (i)-(iv) above, unless and until the Royal Insurer Affiliates notify URC that the Royal Insurer Affiliates will assume the handling of any such claim, or portion thereof. To the extent the Royal Insurer Affiliates determine to exclusively handle any such claim, or portion thereof, URC shall promptly forward all materials relating to any such claim, or portion thereof, to the Royal Insurer Affiliates; provided, however, that, if requested by the Royal Insurer Affiliates, URC will fully cooperate and participate in the handling of the claims, or any portion thereof, set forth in (i)-(v) above. Notwithstanding anything in this Section 4.2 to the contrary, to the extent a claim set forth in (i)-(iv) above involves both a contractual portion and an Extra Contractual Liability portion, and in the event the Royal Insurer Affiliates determine that URC should no longer handle the underlying contractual portion of such claim, then URC, at the direction of the Royal Insurer Affiliates, shall transfer the underlying contractual portion of such claim to a third party administrator of the Royal Insurer Affiliates' sole choosing; provided, however, that such third party administrator shall not be an Affiliate of either party. Both URC and the Royal Insurer Affiliates shall be equally responsible for paying all expenses incurred by such third party administrator in the administration of its duties regarding the underlying contractual portion of any such claims. (b) URC shall promptly notify the Royal Insure...
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Related to HANDLING OF CERTAIN TYPES OF CLAIMS SERVICES

  • Specifications of Certain Matters Anything referred to in this Annex as being specified in Paragraph 11 also may be specified in one or more Confirmations or other documents and this Annex will be construed accordingly.

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