Loss Settlements. A. All loss settlements made by the Company within the terms and conditions of the Policy and of this Contract shall be binding upon the Reinsurer, and the Reinsurer agrees to pay or allow, as the case may be, its proportion of each such settlement in accordance with the Reports and Remittances Article.
Loss Settlements. A. The Company alone and at its full discretion shall adjust, settle or compromise all claims and losses.
Loss Settlements. All loss settlements made by EMC Re within the terms of this XOL Agreement or by way of compromise, including any “Ex-gratia Settlements”, shall be binding upon EMCC, and EMCC agrees to pay or allow, as the case may be, its share of each such settlement in accordance with this XOL Agreement.
Loss Settlements. A. When so requested in writing, the Company shall afford the Reinsurer or its representatives an opportunity to be associated with the Company, at the expense of the Reinsurer, in the defense of any claim, suit or proceeding involving this Contract, and the Company and the Reinsurer shall cooperate in every respect in the defense of such claim, suit or proceeding. Notwithstanding the above, the Company alone and at its full discretion shall adjust, settle or compromise all claims and losses.
Loss Settlements. A. The Ceding Insurer alone and at its sole discretion shall adjust, settle or compromise all claim and losses.
Loss Settlements. The Company alone and at its full discretion shall adjust, settle or compromise all claims and losses. All such adjustments, settlements, and compromises, including ex gratia payments, shall be binding on the Reinsurer in proportion to its participation. Ex gratia payments include only those payments made to settle a loss or claim covered under the Company’s underlying insurance policy for purposes of avoiding the costs of a lawsuit. Under no circumstances will the Company make a payment for a claim or loss not covered under the Company’s underlying insurance policy. The Company shall likewise at its sole discretion commence, continue, defend, compromise, settle or withdraw from actions, suits or proceedings and generally do all such matters and things relating to any claim or loss as in its judgment may be beneficial or expedient, and all payments made and costs and expenses incurred in connection therewith or in taking legal
Loss Settlements. A. MSRE will advise PRe within seven (7) business days of all Losses that MSRE becomes aware of and may result in a Loss settlement and any subsequent developments with respect thereto under this Agreement that may materially and/or adversely affect the capital position of PRe. Such Loss reporting to PRe will include, but is not limited to, (i) incurred Losses of ten per cent (10%) or more of PRe’s capital position and (ii) any claims that may involve loss in excess of original policy limits (“XOPL”) and extra contractual obligations (“ECO”) settlements. Any inadvertent omission or oversight in providing such advice to PRe is in no way to affect the liability of PRe; however, when discovered, MSRE will notify PRe within three (3) business days of any such omission or oversight.
Loss Settlements. (a) Subject to the limitations and conditions in this Agreement, including but not limited to Articles II, XIV and XXIII:
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Loss Settlements. The COMPANY shall investigate and settle or defend all claims arising under policies reinsured under this Agreement. When requested by the REINSURER, the COMPANY shall permit the REINSURER, at the expense of the REINSURER, to be associated with the COMPANY in the defense or control of any claim, loss, or legal proceeding which involves or is likely to involve the REINSURER. All payments of claims or losses by the COMPANY within the limits, terms, and conditions of its policies and within the limits, terms, and conditions of this Agreement shall be binding upon the REINSURER. Upon receipt of proof of loss payment, the REINSURER shall promptly pay the COMPANY for that share of the net loss and loss adjustment expense due in accordance with the reinsurance stipulated in this Agreement.
