Common use of Policy Services Clause in Contracts

Policy Services. Pursuant to the terms and provisions of this Agreement, the Company hereby grants to MGA authority to receive and accept proposals of insurance from the Effective Date of this Agreement until the termination of this Agreement (or termination of the appointment in Section 2.8) for the Authorized Coverages. Such authority shall include the binding of coverage, the issuing and endorsing of Policies in the name of the Company, and the canceling and non-renewing of such binders and contracts when the best judgment of MGA dictates. MGA shall provide for the Company a policy administration system and utilize and enter the Company’s Policy data into that system in a timely manner. MGA shall provide to the Company, at no additional cost to the Company access to the policy administration system on a 24 hours a day, seven days a week basis.