SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 19 contracts
Samples: Trust Agreement (Donegal Group Inc), Healthcare Liability (Allied World Assurance Co Holdings LTD), Affirmative Insurance Holdings Inc
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rightsrights if, in the Company’s opinion, it is economically reasonable to do so.
Appears in 3 contracts
Samples: Xxvii Agency Agreement (Patriot Risk Management, Inc.), Xxii Agency Agreement (Patriot Risk Management, Inc.), State Auto Financial CORP
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rightsrights if, in the Company's opinion, it is reasonable to do so.
Appears in 2 contracts
Samples: Homeowners of America Holding Corp, Homeowners of America Holding Corp
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company Company, and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 2 contracts
Samples: Amwest Insurance Group Inc, Amwest Insurance Group Inc
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of for obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 2 contracts
Samples: Interests and Liabilities Agreement (Affirmative Insurance Holdings Inc), Affirmative Insurance Holdings Inc
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, . of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 1 contract
Samples: Agreement for Purchase and Sale of Certain (Medical Defense Holding Co)
SALVAGE AND SUBROGATION. A. The Reinsurer shall be credited with its proportionate share of salvage or subrogation recoveries (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries Reinsurer’s proportionate share of officials and employees of the Company and sums paid to attorneys as retainer, of Loss Adjustment Expense incurred in obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to will enforce its rights to salvage or subrogation relating to any lossLoss, a part of which loss Loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 1 contract
Samples: Reinsurance Agreement (Tower Group International, Ltd.)
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 1 contract
Samples: Interests and Liabilities Agreement (Financial Pacific Insurance Group Inc)
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 1 contract
Samples: Multiple Line Quota Share Reinsurance Agreement (Greenlight Capital Re, Ltd.)
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rightsrights if, in the Company’s opinion, it is reasonable to do so.
Appears in 1 contract
Samples: Homeowners of America Holding Corp
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by or on behalf of the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.
Appears in 1 contract
Samples: Amwest Insurance Group Inc
SALVAGE AND SUBROGATION. The Reinsurer shall be credited with its proportionate share of salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute prosecute, where economically feasible, all claims arising out of such rights.
Appears in 1 contract
Samples: Interests and Liabilities Agreement (James River Group, INC)