TFIA definition
Examples of TFIA in a sentence
The parties agree that in the event that Broker submits to TFIA for placement a customer who has already been submitted to TFIA for placement by another Broker, or who is being solicited for business by TFIA, or who is already a TFIA customer, all materials provided by Broker shall be returned to Broker immediately, and any insurance business placed for the customer in question by TFIA shall not be subject to the terms and conditions of this Agreement.
Neither the expiration nor termination of this Agreement shall relieve TFIA and/or Broker of the obligation to pay any Commissions that are due and payable prior to the date of expiration or termination of this Agreement; provided, that if there is a material breach of this Agreement by Broker, TFIA may withhold payment of Commissions and offset them against damages, costs, expenses and/or loss owed TFIA by Broker resulting directly or indirectly from such breach.
TFIA shall indemnify the Broker for all liability arising as a result of TFIA’s errors or omissions for all policies first written by TFIA on behalf of the Broker except to the extent the Broker has caused such error.
The Schedule of Commissions may be revised at any time with the written mutual consent of TFIA and the Broker.
TFIA may deduct from any Commissions payable to Broker pursuant to this Agreement any sums that Broker may owe TFIA for any reason.
Broker shall not use any advertisement referring to or using the name The Flood Insurance Agency or Lloyd’s Private Flood or any insurer or referring to their products, or issue or cause to have issued any letter, circular, pamphlet, or other publication or statement so referring, without the written consent of TFIA.
Broker shall not be deemed to have any authority nor shall Broker adjust, settle or compromise any claim or dispute on behalf of TFIA or Certain Underwriters at Lloyd’s of London for which TFIA acts as a Coverholder; participate in the adjustment, settlement, compromise or denial of any claim; pay any claim or commit TFIA to the payment of any claim; or institute legal proceedings or retain counsel on behalf of TFIA or Certain Underwriters at Lloyd’s of London for which TFIA acts as a Coverholder.
All expenses and disbursements, including, but not limited to, those for travel and maintenance, entertainment, office, clerical and general solicitation expenses, that may be incurred by Broker in connection with this Agreement shall be borne wholly and completely by Broker, and TFIA shall not be in any way responsible or liable therefore.
Upon termination or expiration of this Agreement, Broker shall deliver to TFIA any and all devices, documentation, records, data, reports, proposals, lists, correspondence or other tangible or intangible property belonging to TFIA, or copies or reproductions of the same.
Both Broker and TFIA shall continue to be fully bound by all of the terms of this Agreement with respect to conclusion of all dealings, lawsuits, transactions and insurance which are the subject of or arise out of any action or inaction relating to the performance of this Agreement.