Common use of Contestable Claims Clause in Contracts

Contestable Claims. The Ceding Company will immediately notify the Pool Reinsurers if it intends to contest, compromise or litigate a claim involving reinsurance and will give each Pool Reinsurer an opportunity to review the claim papers. If any Pool Reinsurer prefers not to participate in the contest, that Pool Reinsurer will notify the Ceding Company of its decision within fifteen days of its receipt of the claim papers, and that Pool Reinsurer will immediately pay the full amount of reinsurance due to the Ceding Company. Once the Pool Reinsurer has paid its reinsurance liability, it will not be liable for legal and/or investigative expenses, it will have no further liability for expenses associated with the contest, compromise or litigation and it will not share in any subsequent increase or reduction of the policy face amount. When the Pool Reinsurers agree to participate in a contest, compromise or litigation involving reinsurance, the Ceding Company will give each participating Pool Reinsurer prompt notice of the beginning of any legal proceedings involving the contested policy. The Ceding Company will promptly furnish the participating Pool Reinsurers with copies of all documents pertaining to a lawsuit or notice of intent to file a lawsuit by any of the claimants or parties to the policy. The participating Pool Reinsurers will share in the payment of legal or investigative expenses relating to a contested claim in the same proportion as their liability bears to the Ceding Company's liability. The participating Pool Reinsurers will not reimburse expenses associated with non-reinsured policies. If the contest, compromise or litigation results in a reduction in the liability of the contested policy, the participating Pool Reinsurers will share in the reduction in the same proportion that the amount reinsured with each Pool Reinsurer bore to the amount payable under the terms of the policy on the date of death of the insured. If the contest, compromise or litigation results in a dismissal of the claim and a return of the premium to the claimant and/or to the beneficiary(ies), the participating Pool Reinsurers will refund all premiums that the Ceding Company has paid to them.

Contestable Claims. The Ceding Company and the Reinsurer will be bound by the applicable suicide and contestable period and limitations in accordance with state law or the Policy form, whichever governs. If a claim is contestable, the Ceding Company shall send to the Reinsurer the contestable claims documentation as required in this Agreement, by any of the following means: secure email, express mail, or any other means agreed upon by both Parties. If the Ceding Company sends the documentation via secure email, it shall submit said information for each claim directly to the Reinsurer in accordance with a “list of claims personnel”1 that is provided by the Reinsurer. The Reinsurer has complete responsibility for the Reinsurer’s review of each claim and must communicate its decision whether to contest or pay the [page break] claim in writing (email is acceptable) to the Ceding Company within [_____] business days from the day in which the Reinsurer received the final documentation. If the Reinsurer does not communicate its decision in writing (email is acceptable) to the Ceding Company regarding whether to contest or pay the claim during the stated time period, the Ceding Company shall proceed to settle, contest or deny the claim without requiring further input from the Reinsurer. The final determination on the claim will be made exclusively by the Ceding Company and shall be binding on the Reinsurer and any other reinsurers affected by the claim. The Ceding Company will immediately notify promptly advise the Pool Reinsurers if it intends to contest, compromise or litigate a claim involving reinsurance and will give each Pool Reinsurer an opportunity to review of all significant developments in the claim papersinvestigation and in any litigation that arises in response to the denial of the claim. If any Pool Alternatively, if the Reinsurer prefers not declines to participate in be a Party to the contest, that Pool compromise, or litigation the Reinsurer will notify shall pay the Ceding Company of its decision within fifteen days of its receipt share of the claim papersreinsured net amount at risk, interest and that Pool Reinsurer will immediately pay the full amount routine investigative expenses to date and thereby be fully discharged of reinsurance due to the Ceding Company. Once the Pool Reinsurer has paid its reinsurance liability, it will not be liable for legal and/or investigative expenses, it will have no any further liability for and subsequent expenses associated with the contest, compromise or litigation and it will not share in any subsequent reduction or increase or reduction of the policy face amount. When the Pool Reinsurers agree to participate in a contest, compromise or litigation involving reinsurance, the Ceding Company will give each participating Pool Reinsurer prompt notice of the beginning of any legal proceedings involving the contested policyliability. The Ceding Company will promptly furnish Reinsurer must convey this decision in writing (email is acceptable) within the participating Pool Reinsurers with copies of all documents pertaining to a lawsuit or notice of intent to file a lawsuit by any of time period specified above. If the claimants or parties to the policy. The participating Pool Reinsurers will share in the payment of legal or investigative expenses relating to a contested claim in the same proportion as their liability bears to Reinsurer accepts participation and the Ceding Company's liability. The participating Pool Reinsurers will not reimburse expenses associated with non-reinsured policies. If the ’s contest, compromise compromise, or litigation results in a reduction or increase in the liability of the contested policyliability, the participating Pool Reinsurers Reinsurer will share proportionately in the any such reduction in the same proportion that the amount reinsured with each Pool Reinsurer bore to the amount payable under the terms of the policy on the date of death of the insured. If the contest, compromise or litigation results in a dismissal of the claim and a return of the premium to the claimant and/or to the beneficiary(ies), the participating Pool Reinsurers will refund all premiums that the Ceding Company has paid to themincrease.

Contestable Claims. The Ceding Company and the Reinsurer will immediately notify be bound by the Pool Reinsurers if it intends to contestapplicable suicide and contestable period and limitations in accordance with state law or the Policy form, compromise or litigate whichever governs. If a claim involving reinsurance is contestable, the Ceding Company shall send to the Reinsurer the contested claims documentation as required in this Agreement [ ], by any of the following means: secure email, express mail, or any other means agreed upon by both Parties. If the Ceding Company sends the documentation via secure email, it shall submit said information for each claim directly to the Reinsurer in accordance with a “list of claims personnel”1 that is provided by the Reinsurer. The Reinsurer has complete responsibility for the Reinsurer’s review of each claim and will give each Pool Reinsurer an opportunity must communicate its decision whether to review contest or pay the claim papersin writing (email is acceptable) to the Ceding Company within [ ] business days from the day in which the Reinsurer received the final documentation. If the Reinsurer does not communicate its decision in writing (email is acceptable) to the Ceding Company regarding whether to contest or pay the claim during the stated time period, the Ceding Company shall proceed to settle, contest or deny the claim without requiring further input from the Reinsurer. The final determination on the claim will be made exclusively by the Ceding Company and shall be binding on the Reinsurer and any Pool other reinsurers affected by the claim. If the Ceding Company returns premiums to the Policy Owner or beneficiary as a result of a Policy being rescinded, the Reinsurer prefers not will refund net Reinsurance Premiums received on that Policy to participate in the Ceding Company, without interest. Alternatively, the Reinsurer may decline to be a Party to the contest, that Pool Reinsurer will notify the Ceding Company of its decision within fifteen days of its receipt of the claim paperscompromise, and that Pool Reinsurer will immediately or litigation involved on a claim, in which case it shall pay the full amount of reinsurance due its share of the claim to the Ceding Company. Once the Pool Reinsurer has paid its reinsurance liability, it will not be liable for legal and/or investigative expenses, it will have Company as if there had been no further liability for expenses associated with the contest, compromise or litigation and it will litigation. The Reinsurer must convey this decision in writing (email is acceptable) within the time period specified above. In such case, the Reinsurer shall not share in any subsequent increase or reduction of the policy face amount. When the Pool Reinsurers agree to participate claim expenses involved in a such contest, compromise or litigation involving reinsurancelitigation, or in any reduction in claim amount resulting therefrom. [ ]. The Ceding Company may take into consideration any other reinsurer’s recommendations regarding the claim that was communicated to the Ceding Company within the timeframe specified, but in all cases only the Ceding Company will give each participating Pool determine the proper action on the claim and the decision, which will be made exclusively by the Ceding Company, shall be binding on the Reinsurer prompt notice of and all other reinsurers affected by the beginning of any legal proceedings involving the contested policyclaim. The Ceding Company will promptly furnish advise the participating Pool Reinsurers with copies Reinsurer of all documents pertaining significant developments in the claim investigation and in any litigation that arises in response to a lawsuit or notice of intent to file a lawsuit by any the denial of the claimants or parties to the policy. The participating Pool Reinsurers will share in the payment of legal or investigative expenses relating to a contested claim in the same proportion as their liability bears to the Ceding Company's liability. The participating Pool Reinsurers will not reimburse expenses associated with non-reinsured policies. If the contest, compromise or litigation results in a reduction in the liability of the contested policy, the participating Pool Reinsurers will share in the reduction in the same proportion that the amount reinsured with each Pool Reinsurer bore to the amount payable under the terms of the policy on the date of death of the insured. If the contest, compromise or litigation results in a dismissal of the claim and a return of the premium to the claimant and/or to the beneficiary(ies), the participating Pool Reinsurers will refund all premiums that the Ceding Company has paid to themclaim.

Contestable Claims. The Ceding Company will immediately promptly notify the Pool Reinsurers if it intends XXXX of its intention to contest, compromise compromise, or litigate a claim involving reinsurance a reinsured policy. The Ceding Company will also promptly and fully disclose all information relating to the claim. Once notified, XXXX will give each Pool Reinsurer an opportunity have fifteen (15) business days to review notify the claim papers. If any Pool Reinsurer prefers not Ceding Company in writing of its decision to participate accept participation in the contest, that Pool Reinsurer will notify compromise, or litigation. If XXXX has accepted participation, the Ceding Company will promptly advise XXXX of its decision within fifteen days all significant developments in the claim investigation, including notification of its receipt any legal proceedings against it in response to denial of the claim papersclaim. If XXXX does not accept participation, XXXX will then fulfill its obligation by paying the Ceding Company its full share of the reinsurance amount, and that Pool Reinsurer will immediately pay the full amount of reinsurance due to the Ceding Company. Once the Pool Reinsurer has paid its reinsurance liability, it will not be liable for legal and/or investigative expenses, it will have no further liability for expenses associated with the contest, compromise or litigation and it will not share in any subsequent reduction or increase or reduction of the policy face amountin liability. When the Pool Reinsurers agree to participate in a contest, compromise or litigation involving reinsurance, the Ceding Company will give each participating Pool Reinsurer prompt notice of the beginning of any legal proceedings involving the contested policy. The Ceding Company will promptly furnish the participating Pool Reinsurers with copies of all documents pertaining to a lawsuit or notice of intent to file a lawsuit by any of the claimants or parties to the policy. The participating Pool Reinsurers will share in the payment of legal or investigative expenses relating to a contested claim in the same proportion as their liability bears to If XXXX accepts participation and the Ceding Company's liability. The participating Pool Reinsurers will not reimburse expenses associated with non-reinsured policies. If the ’s contest, compromise compromise, or litigation results in a reduction or increase in liability, XXXX will share in any such reduction or increase in proportion to its share of the liability of risk on the contested policy, . 9.6 Claim Expenses XXXX will pay its share of reasonable claim investigation and legal expenses connected with the participating Pool Reinsurers will share in the reduction in the same proportion that the amount reinsured with each Pool Reinsurer bore litigation or settlement of contractual liability claims unless XXXX has discharged its liability pursuant to the amount payable under the terms of the policy on the date of death of the insuredSection 9.5 above. If the contestXXXX has so discharged its liability, compromise or litigation results XXXX will not participate in a dismissal of the claim and a return of the premium to the claimant and/or to the beneficiary(ies), the participating Pool Reinsurers any expenses incurred thereafter. XXXX will refund all premiums that not reimburse the Ceding Company has paid for routine claim and administration expenses, including but not limited to them.the Ceding Company’s home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company. Claim investigation expenses do not include expenses incurred by the Ceding Company as a result of a dispute or contest arising out of conflicting claims of entitlement to policy proceeds or benefits. Furthermore, XXXX will not reimburse the Ceding Company for any expenses if said expense was not incurred by the Ceding Company while investigating, defending or settling a claim. 9.7

Contestable Claims. The Ceding Company and the Reinsurer will immediately notify be bound by the Pool Reinsurers if it intends to contestapplicable suicide and contestable period and limitations in accordance with state law or the Policy form, compromise or litigate whichever governs. If a claim involving reinsurance is contestable, the Ceding Company shall send to the Reinsurer the contested claims documentation as required in this Agreement, by any of the following means: secure email, express mail, or any other means agreed upon by both Parties. If the Ceding Company sends the documentation via secure email, it shall submit said information for each claim directly to the Reinsurer in accordance with a “list of claims personnel”1 that is provided by the Reinsurer. The Reinsurer has complete responsibility for the Reinsurer’s review of each claim and will give each Pool Reinsurer an opportunity must communicate its decision whether to review contest or pay the claim papersin writing (email is acceptable) to the Ceding Company within [_____] business days from the day in which the Reinsurer received the final documentation. If the Reinsurer does not communicate its decision in writing (email is acceptable) to the Ceding Company regarding whether to contest or [page break] pay the claim during the stated time period, the Ceding Company shall proceed to settle, contest or deny the claim without requiring further input from the Reinsurer. The Ceding Company may take into consideration any Pool other reinsurer’s recommendations regarding the claim that was communicated to the Ceding Company within the timeframe specified, but in all cases only the Ceding Company will determine the proper action on the claim and the decision, which will be made exclusively by the Ceding Company, shall be binding on the Reinsurer prefers not and all other reinsurers affected by the claim. Alternatively, the Reinsurer may decline to participate in be a Party to the contest, that Pool Reinsurer will notify the Ceding Company of its decision within fifteen days of its receipt of the claim paperscompromise, and that Pool Reinsurer will immediately or litigation involved on a claim, in which case it shall pay the full amount of reinsurance due its share of the claim to the Ceding Company. Once the Pool Reinsurer has paid its reinsurance liability, it will not be liable for legal and/or investigative expenses, it will have Company as if there had been no further liability for expenses associated with the contest, compromise or litigation and it will litigation. The Reinsurer must convey this decision in writing (email is acceptable) within the time period specified above. In such case, the Reinsurer shall not share in any subsequent increase or reduction of the policy face amount. When the Pool Reinsurers agree to participate claim expenses involved in a such contest, compromise or litigation involving reinsurancelitigation, the Ceding Company will give each participating Pool Reinsurer prompt notice of the beginning of or in any legal proceedings involving the contested policy. The Ceding Company will promptly furnish the participating Pool Reinsurers with copies of all documents pertaining to a lawsuit or notice of intent to file a lawsuit by any of the claimants or parties to the policy. The participating Pool Reinsurers will share in the payment of legal or investigative expenses relating to a contested claim in the same proportion as their liability bears to the Ceding Company's liability. The participating Pool Reinsurers will not reimburse expenses associated with non-reinsured policies. If the contest, compromise or litigation results in a reduction in the liability of the contested policy, the participating Pool Reinsurers will share in the reduction in the same proportion that the claim amount reinsured with each Pool Reinsurer bore to the amount payable under the terms of the policy on the date of death of the insured. If the contest, compromise or litigation results in a dismissal of the claim and a return of the premium to the claimant and/or to the beneficiary(ies), the participating Pool Reinsurers will refund all premiums that the Ceding Company has paid to themresulting therefrom.