Policies definition
Examples of Policies in a sentence
The reinsurance provided under this Agreement shall remain continuously in force for so long as the Company shall remain liable on the Policies or until terminated by either Party by written notice given to the other Party at least twelve (12) months in advance of the termination date, a copy of which shall be provided to the Iowa Insurance Division.
The Policies are not eligible for recapture by the Company except upon the mutual agreement of the Company and the Reinsurer, and any partial or complete recapture/commutation shall be subject to the prior approval of the Iowa Insurance Division to the extent required under Iowa law.
Either party or its designated representative may, upon reasonable advance notice and during normal business hours at the offices of the Company or the Reinsurer, as the case may be, conduct reasonable inspections of the books and records of the other party reasonably relating to the Policies or this Agreement for such period as this Agreement remains in effect and as long thereafter as the Company or the Reinsurer, as the case may be, has any outstanding obligation under this Agreement.
The Company shall establish and maintain an adequate system of internal controls and procedures for financial reporting relating to the Policies and shall make such documentation available for examination and inspection by the Reinsurer upon request.
The Company shall maintain appropriate books and records relating to the Policies in accordance with Applicable Law and industry standards of insurance record keeping.