Loss Settlements. All loss settlements made by the Company that are within the terms and conditions of the Policy or by way of compromise, except as otherwise provided in this Contract, shall be binding upon the Reinsurer. The Reinsurer agrees to pay or allow, as the case may be, its share of each such settlement in accordance with this Contract.
Appears in 1 contract
Sources: Brokerage Multi Line Reinsurance Agreement (Tower Group International, Ltd.)
Loss Settlements. All loss settlements made by Company or Manager, on its behalf, whether under the Company that are within the policy terms and conditions of the Policy or by way of compromise, except as otherwise provided in this Contract, compromise shall be unconditionally binding upon the Reinsurer. The Reinsurer agrees to pay or allow, as the case may be, its share of each such settlement Loss settlements shall be payable in accordance with this ContractArticle IX.
Appears in 1 contract
Sources: Quota Share Reinsurance Agreement (Scpie Holdings Inc)
Loss Settlements. All loss settlements made by the Company that are within the terms and conditions of the Policy or by way of compromise, except as otherwise provided in this Contract, shall be binding upon the Reinsurer. The , and the Reinsurer agrees to pay or allow, as the case may be, its share of each such settlement in accordance with this Contract.
Appears in 1 contract
Sources: Quota Share Reinsurance Contract (Philadelphia Consolidated Holding Corp)