Res 2000-130 - Laserfiche WebLink

Home Browse Search

PAYMENT OF PREMIUM: Premiums are due and payable on the first day of each Treaty Month or, if premiums are payable annually, on the first day of each Treaty Year. A period of 31 days will be granted for payment of each premium after the first month's premium, during which period this Treaty will continue in force. Should a premium otherwise due not be paid during, this 31 day period, this Treaty will terminate without further notice, as of the date to which premiums were paid. Our liability under this Treaty shall be limited to the expenses reimbursable to you prior to the date oftermination. OFFSET: We shall be entitled to offset payments due you under this Treaty against premiums due and unpaid by you to Us. DATA REQUIRED: You shall maintain adequate records acceptable to Us and provide any information required by Us to administer this Treaty. We may periodically examine any of your records relating to the coverage under this Treaty and any claims filed under the Plan. As a result of any examination of your or your Administrator's records, We shall be entitled to readjust premiums, attachment points, or expenses reimbursed, as may be necessary, to reflect the troe intent of this Treaty which may include adjustments to rates and/or factors. CLERICAL ERROR: Clerical error, whether by you or by Us, in keeping any records pertaining, to the coverage, will not invalidate coverage otherwise validly in force or continue coverage otherwise validly terminated, but no such error shall expand Our obligations under this Treaty. AMENDMENTS TO THE TREATY: This Treaty may be amended at any time with mutual consent by you and Us. AMENDMENTS TO THE PLAN OR ADMINISTRATIVE AGREEMENT: The Plan shall not be changed or amended while this Treaty is in force without Our prior written consent. Notice of proposed amendments to the Plan must be received by Us in writing at Our home office at least 60 days prior to the effective date of the amendment. Unless We give prior written consent of the amendment to the Plan, benefits will be payable under this Treaty as though the Plan was not amended. In no event shall We pay any benefits in excess of the benefits payable by you under the Plan. Furthermore, you will provide Us with a copy of your written agreement with your Administrator, and all amendments thereto. You agree that a copy of any further amendment to, or change in, said agreement shall be provided to Us prior to the time it becomes effective. NOTICE: For purposes of any notice required from Us under the provisions of this Treaty, notice to the Administrator shall be considered notice to you. Notice to you shall be considered notice to the Administrator. ADMINISTRATION OF CLAIMS UNDER THE PLAN: I. You shall undertake at all times to employ the senices of an Administrator. 2. The Administrator shall: a. supervise the administration and adjustment of all claims and verify the accuracy and computation of all claims. b. maintain accurate records of all claim payments. c. provide Us on or before the 15th day of each and every Treaty Month on a reporting, form supplied by Us. the following data with respect to the immediately preceding, month: (1) Number of Covered Units; (2) Premium Paid; (3) Retention Amount; and (4) Amount of Paid Claims. 9