Common use of Contractholder Complaints Clause in Contracts

Contractholder Complaints. Insurer and Distributor shall notify the other promptly of any substantive complaint received by either party with respect to Insurer, Distributor, any Distributor Representative or employee or with respect to any Contract. The parties hereto shall cooperate in investigating such complaint and any response by either party to such complaint shall be sent to the other party for written approval not less than five business days prior to its being sent to the customer or any regulatory authority, except that if a more prompt response is required, the proposed response shall be communicated by telephone or facsimile. In any event, neither party shall release any such response without the other party’s prior written approval.