Common use of POLICY OR PROCESS Clause in Contracts

POLICY OR PROCESS. In the event of any change in the claims policy or process of the Company, including but not limited to a change in the principal claims personnel or the delegation of the claim settlement to a third party or the decision to close to new business, the Company shall inform the Reinsurer without delay and the Reinsurer shall have the right to review and adjust the Claims Authority with immediate effect by giving written notice of such change to the Company.