Claims Settlement Sample Clauses
The Claims Settlement clause outlines the procedures and requirements for resolving claims made under a contract or insurance policy. It typically specifies the steps for submitting a claim, the documentation needed, and the timeframe within which the claim must be processed and settled. For example, it may require the claimant to provide proof of loss and allow the insurer a set period to investigate and pay out valid claims. This clause ensures that both parties understand the process for handling claims, thereby promoting timely resolution and reducing disputes over claim payments.
POPULAR SAMPLE Copied 5 times
Claims Settlement. Claims must be submitted by the Named Insured to the Broker as outlined in the Insurance Policy that results from this contract. The Department must be notified in writing by the Broker or Underwriter of all Claims submitted during the policy period by any Named Insured. The Broker must coordinate with the Named Insured filing the Claim on any details required by the Broker to ensure proper settlement. The Broker is to track all claims submitted and identify which Named Insured filed the claim. Any settlement checks must be issued in the name of the Named Insured that filed the Claim, c/o State of Florida – Department of Management Services. Settlement checks must include: policy name and number; the Named Insured who filed the claim; date of loss; total claim filed, deductible, check number and check amount. Whenever possible, a letter on appropriate letterhead from the Broker or Underwriter should accompany the claim settlement check. The Broker will provide Claim settlement checks directly to the Named Insured filing the claim, and copy the Department’s Contract Manager.
Claims Settlement. Payment by an Indemnified Party to a third party shall not be a condition precedent to the obligations of the Indemnifying Party under this Article XII. An Indemnified Party which becomes entitled to indemnification under this Article XII shall promptly notify the other Party of any claim or proceeding in respect of which it is to be indemnified. Such notice shall be given as soon as reasonably practicable after the Indemnified Party obligated to give such notice becomes aware of such claim or proceeding. Failure to give such notice shall not excuse an indemnification obligation except to the extent failure to provide notice adversely affects the Indemnifying Party’s interests in a material respect. The Indemnifying Party shall assume the defense thereof with counsel designated by the Indemnifying Party; provided, however, that if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and the Indemnified Party reasonably concludes that there may be legal defenses available to it that are different from or additional to, or inconsistent with, those available to the Indemnifying Party, the Indemnified Party shall have the right to select and be represented by separate counsel, at its own expense. If the Indemnifying Party fails to assume the defense of a claim, the indemnification of which is required under this Agreement, the Indemnified Party may, at the expense of the Indemnifying Party, contest, settle, or pay such claim; provided, however, that settlement or full payment of any such claim may be made only with the Indemnifying Party’s consent (which shall not be unreasonably withheld or delayed), or absent such consent, written opinion of the Indemnified Party’s counsel that such claim is meritorious or warrants settlement. In the event that the Buyer is the indemnified party hereunder, it may draw upon any Performance Assurance to satisfy the unpaid portion of any such indemnity claim. Article XII shall survive termination of this Agreement, as provided in Section 15.19.
Claims Settlement. (a) Subject to Section 6.02(b) and 6.03, the Ceding Company shall be responsible for the settlement of claims with respect to the Reinsured Liabilities in accordance with Article X, applicable Law and the terms and conditions of the Reinsured Policies.
(b) The Ceding Company shall notify the Reinsurer in writing if the Ceding Company determines that a claim for payment under a Reinsured Policy either requires investigation or should be contested or denied. The Reinsurer and the Ceding Company shall consult in good faith regarding the disposition of any such claim. The Reinsurer may, but shall not be required to, recommend to the Ceding Company how to handle such claim. In the event of any disagreement between the Ceding Company and the Reinsurer as to the validity or amount of such a claim, the Ceding Company shall have final authority over the disposition of such claim.
Claims Settlement. Notwithstanding any requirements that may be imposed pursuant to Bankruptcy Rule 9019, from and after the Effective Date, the Disbursing Agent shall have authority to settle or compromise all Claims and Causes of Action without further review or approval of the Bankruptcy Court.
Claims Settlement. (a) The Ceding Company is responsible for the settlement of claims with respect to the Reinsured Liabilities in accordance with the conditions of the Reinsured Policies and applicable law.
(b) The Ceding Company will notify the Reinsurer of all claims incurred during in the reports prepared in accordance with Article IV and Schedule E.
(c) The Ceding Company will provide, at the Reinsurer’s request, proper claim proofs (including, for example, proofs required under the Reinsured Policies), all relevant information respecting the existence and validity of the claim, and an itemized statement of the benefits paid by Ceding Company under the Reinsured Policy.
(d) The Reinsurer will pay the amount of the Reinsured Liabilities due and owing to Ceding Company in accordance with Article IV and Schedule C. The Ceding Company’s contractual liability for claims is binding on the Reinsurer.
Claims Settlement. The Ceding Company shall be responsible for the settlement of claims with respect to the Reinsured Liabilities in accordance with Article XI, applicable Law and the terms and conditions of the Reinsured Policies.
Claims Settlement. We can choose to settle your claim by: • replacing; • reinstating; • repairing; • payment. Replacement will be on a like for like basis or based on the nearest equivalent available in the current market. If we are able to replace property, but we agree to make a cash settlement, we will only pay you what it would cost us to replace the item as if it were new. In settling claims for loss or damage there will be no deduction for wear tear and depreciation. Our liability in respect of loss or damage arising out of one occurrence shall not exceed the amount stated against each item in the Schedule. The sum(s) insured will not be reduced by the amount of any claim payment. If we accept a claim under Section 1 we will also pay for the following:
a. Architects’ and surveyors’ fees to repair the buildings. These fees must not be more than those recommended by the relevant professional institutes. However we will not pay fees for preparing any claim.
b. The cost of demolishing or supporting the damaged parts of the Buildings which we have agreed to pay.
c. The cost of meeting building regulations or municipal or local authority bye-laws. However we will not cover any cost you are legally responsible for paying because of a notice served on you before the date of the loss or damage.
Claims Settlement. Payment by an Indemnified Party to a third party shall not be a condition precedent to the obligations of the Indemnifying Party under this Article XIII. No Indemnified Party under this Article XlII shall settle any claim for which it claims indemnification hereunder without first allowing the Indemnifying Party the right to defend such claim. The Indemnifying Party shall have no obligations under Article XIII in the event of a breach of the foregoing sentence by the Indemnified Party. Article XIII shall survive termination of this Agreement.
Claims Settlement a) If the procedure stated is complied with, the Insurer will guarantee to the service provider the costs of hospitalisation, transportation for emergency services, transportation home for Insured and any covered accompanying person if applicable, transportation of the mortal remains and local burial. All costs will be directly settled by the Insurer and the same shall constitute due discharge of the Insurer’s obligations hereunder.
b) Reimbursement of all claims will be made by the Insurer in Indian Rupees in India only.
Claims Settlement. KeySpan shall not settle any claim, action, proceeding or investigation, whether civil, criminal, administrative or investigative, except (A) in the ordinary course of business consistent with past practice, (B) settlements to the extent subject to reserves existing as of the date hereof in accordance with GAAP or (C) the settlement of any Claim that would not reasonably be expected to have a Material Adverse Effect, except in the case of clauses (A) and (C) for such claims as are set forth in Section 4.1(p) of the KeySpan Disclosure Schedule, which shall require the consent of Parent.