Common use of COMPLAINTS OR PROCEEDINGS Clause in Contracts

COMPLAINTS OR PROCEEDINGS. 29.1 The Coverholder shall promptly notify the Underwriter in writing of all complaints made in relation to Products bound under this Agreement. 29.2 The Coverholder shall implement and maintain such procedures as may be required by the Underwriter to ensure that complaints can be dealt with in a prompt and reasonable way in compliance with Applicable Law. 29.3 In all cases, the Coverholder shall promptly notify the Underwriter in writing upon becoming aware of any matter arising out of the operation of or in connection with this Agreement which: (a) is likely to adversely affect the reputation of the Underwriter; (b) may affect any legal or regulatory authorisations or any authorisations which the Underwriter has to conduct insurance business; (c) may result in litigation or other legal or regulatory proceedings or action being commenced against the Underwriter or the Coverholder; or (d) may have a material impact on its ability to carry out its obligations under this Agreement effectively and in compliance with Applicable Laws, including for the avoidance of doubt financial difficulty, catastrophic events and significant incidents. 29.4 Where the Coverholder is aware of any legal or regulatory proceedings or actions commenced against the Underwriter or the Coverholder arising out of the operation of or in connection with this Agreement, the Coverholder shall provide the Underwriter with full details of the same.