ARP manager definition
Examples of ARP manager in a sentence
The ARP premium shall be paid to the ARP manager within 30 days of such premium being notified to the insured firm by the ARP manager.
If a firm is eligible to be issued with an ARP policy under Rule 13.1, or an ARP run-off policy under Rule 13.4 then, provided that it complies with the relevant requirements under Rule 13 and is issued with an ARP policy or an ARP run-off policy, the firm and the principals of that firm will be required to pay to the ARP manager only the relevant premium and the excess in the event of any claim.
If, in addition, the ARP manager agrees to provide continuing cover in accordance with paragraph 5.4(b)(ii) of the MTC, the insured firm and every principal of that insured firm (including, for these purposes, every person held out as a partner of a sole practitioner) shall be liable to pay such additional premium (if any) as the ARP manager considers appropriate.
If: an insured firm ceases to carry on a practice during the course of any indemnity period in circumstances where the ARP is required to provide run-off cover in respect of that insured firm under the terms of an ARP policy issued to that insured firm; and that insured firm‟s practice subsequently restarts; and the ARP manager agrees to cancel such run-off cover the insured firm shall be entitled to such reimbursement of premium (if any), as the ARP manager considers appropriate.
A firm may leave the ARP at any time after it has satisfied the ARP manager that the firm has obtained qualifying insurance outside the ARP at least until the expiry of the relevant indemnity period.
If, in addition, the ARP manager agrees to provide continuing cover in accordance with paragraph 5.7(b)(ii) of the MTC, the insured firm and every principal of that insured firm (including, for these purposes, every person held out as a partner of a sole practitioner) shall be liable to pay such additional premium (if any) as the ARP manager considers appropriate.
If: • an insured firm ceases to carry on a practice during the course of any indemnity period in circumstances where the ARP is required to provide run-off cover in respect of that insured firm under the terms of an ARP policy issued to that insured firm; and • that insured firm’s practice subsequently restarts; and • the ARP manager agrees to cancel such run-off cover the insured firm shall be entitled to such reimbursement of premium (if any), as the ARP manager considers appropriate.
The insurance (except in the case of an ARP policy) must provide that, if the ARP manager is appointed to conduct any claim, each insured will give the ARP manager and any investigators or solicitors appointed by it all information and documents they reasonably require, and full co- operation and assistance in the investigation, defence, settlement, avoidance or reduction of any actual or possible claim or any related proceeding.
If, in addition, the ARP manager agrees to provide continuing cover in accordance with paragraph 5.45.7(b)(ii) of the MTC, the insured firm and every principal of that insured firm (including, for these purposes, every person held out as a partner of a sole practitioner) shall be liable to pay such additional premium (if any) as the ARP manager considers appropriate.
If: an insured firm ceases to carry on a practice during the course of any indemnity period in circumstances where the ARP is required to provide run-off cover in respect of that insured firm under the terms of an ARP policy issued to that insured firm; and that insured firm’s practice subsequently restarts; and the ARP manager agrees to cancel such run-off cover the insured firm shall be entitled to such reimbursement of premium (if any), as the ARP manager considers appropriate.