It is hereby understood and agreed Loss Payee is authorized to submit notification of overdue reports and claims on behalf of the Insured in accordance with the Policy terms and conditions. Loss Payee is authorized to complete the Proof of Loss Form and submit to the Company for claims processing. All actions taken by Loss Payee must be consented by the Insured in advance. All consents must be made in writing and submitted to the Company within 7 days from the date of the consent letter.
The Company agrees to copy the Loss Payee of any and all correspondences addressed by the Insurer to the Insured in relation with this Policy, within 15 working days, either by Facsimile, mail or electronically. In addition, the Company will inform the Bank within 30 working days if the Company becomes aware of (i) a breach of the Policy which could lead to a refusal of cover or (ii) in case of suspension or termination of the Policy
In the case of non-payment of premium, the Company shall send a notification to the Insured and the Loss Payee. The Loss Payee shall have the right to pay any outstanding premiums and costs in respect to the assigned receivables and resulting from the Policy, to the Company within 15 days from such notification.
It is hereby understood and agreed Loss Payee is authorized to submit notification of overdue reports and claims on behalf of the Insured in accordance with the Policy terms and conditions. Loss Payee is authorized to complete the Proof of Loss Form and submit to the Company for claims processing. All actions taken by Loss Payee must be consented by the Insured in advance. All consents must be made in writing and submitted to the Company within 7 days from the date of the consent letter. The Company agrees to copy the Loss Payee of any and all correspondences addressed by the Insurer to the Insured in relation with this Policy, within 15 working days, either by Facsimile, mail or electronically. In addition, the Company will inform the Bank within 30 working days if the Company becomes aware of (i) a breach of the Policy which could lead to a refusal of cover or (ii) in case of suspension or termination of the PolicyIn the case of non-payment of premium, the Company shall send a notification to the Insured and the Loss Payee. The Loss Payee shall have the right to pay any outstanding premiums and costs in respect to the assigned receivables and resulting from the Policy, to the Company within 15 days from such notification.
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