Memorial Hermann Health Insurance Company Agency Agreement

More documents

Recommendations

Info

c. Agency agrees to comply with the rules of Company relating to the completionand submission of applications, and to make no representation with respect tothe benefits of any plan offered by Company not in conformity with the materialprepared and furnished to Agency for that purpose by Company. Agency shall usebest efforts to ensure that each application is fully and truthfully completed by theapplicant and the completed application fully and accurately reflects and disclosesthe circumstances, including the health condition, of persons for whom coverage issought in the application for coverage. Agency further agrees to inform everyapplicant that Company will rely upon said health representations in theunderwriting process; the subsequent Company discovery of material facts known toapplicant and either not disclosed or misrepresented on the health statement mayresult in the rescission or premium re-rating of any contract entered into by anyCompany; in no event, will the applicant have any coverage unless and until it isreviewed and approved by Company and a contract is issued; and Company mayrequire a written waiver or a higher premium.d. Agency agrees to maintain such license(s) as is necessary to transact businesson behalf of Company. Agency further agrees to notify Company immediately of anyexpiration, termination, suspension or other action by the Department of Insurance,or any other governmental agency affecting said license(s). By entering into thisAgreement, Agency represents that the license(s) of Agency has not previouslybeen subject to suspension, termination or other disciplinary action by anygovernmental authority. By entering into this Agreement, Agency represents thatAgency has never been convicted of a felony or a misdemeanor involving fraud,dishonesty, breach of trust, theft, misappropriation of money, or breach of anyfiduciary duty. Agency further agrees to notify Company in writing immediately uponreceiving notice of any misdemeanor or felony charges or any actions including butnot limited to convictions by any governmental agency for commission of any actinvolving fraud, dishonesty, breach of trust, theft, misappropriation of money, orbreach of any fiduciary duty.e. Agency agrees to:i. Document each transaction and maintain any other documentation reasonablyrequested by Company;ii.iii.iv.Perform in good faith each authorized action hereunder in accordance withCompany’s administrative procedures;Obtain and maintain Errors and Omissions Insurance in force as may berequired by law or as requested by Company in an amount satisfactory toCompany and from a carrier satisfactory to Company and proof of which willbe supplied to Company upon request. The obtaining and maintenance of suchcoverage shall be a material requirement of this Agreement; andCooperate with Company as required to provide service for the Productspursuant to this Agreement.f. No variation of the authority and responsibility granted under this section shall bepermitted except with Company’s written consent. No other greater authority shall beimplied from the grant or denial of powers specifically mentioned in this Agreement.
g. Agency agrees that Company has the right to discontinue, to modify, or exerciseall lawful rights in connection with any Products or programs without liability toAgency.4. Prohibitions:Agency has no authority to, and shall not:a. Make any promise or incur any debt on behalf of Company;b. Hold itself out as an employee of Company;c. Add, alter, waive or discharge any provision(s) of the Products;d. Waive any forfeiture, extend the time of making any payments, or alter or substitutethe Company’s forms;e. Unless permitted by applicable law, pay or allow to be paid to any customer aninducement not specified in the policy or contract for the Products;f. Give or offer to give, on Company’s behalf, any advice or opinion regarding thetaxation of any customer’s income or estate in connection with the purchase of anyProduct; org. Take any action beyond the scope of the authority granted under this Agreement.5. Representation and Warranties:Agency represents and warrants that it and each person or entity to whom it payscommissions will have sound business reputations and backgrounds, will be duly licensed andappointed to represent Company in compliance with all applicable laws and regulations prior toand during the sale of any Products pursuant to this Agreement, and will comply with Company’sapplicable procedures, manuals and regulations, and all applicable laws and regulations. Agencyrepresents and warrants that it has full power and authority to enter into this Agreement and toperform its obligations hereunder.6. Premiums and Other Monies:Agency shall be responsible to Company for all monies received for or on behalf of Companyand will immediately turn over to Company all such monies received no later than five (5)calendar days from the date of receipt. Agency shall deposit with Company, together with theapplications, the premiums in full on all applications for insurance. Premiums due, subsequent tofirst regular premiums, shall be payable directly to Company at its home office. Funds receivedby Agency for or on behalf of Company shall be received and held by Agency in a fiduciarycapacity, shall be separately accounted for to Company, shall not be commingled by Agencywith personal funds of Agency or other business accounts managed/owned by Agency,including premium accounts maintained by Agency for other companies.
Page 1: Memorial Hermann HealthInsurance Co
Page 5 and 6: agrees to take all reasonable preca
Page 7 and 8: . Agency understands that it has no
Page 9 and 10: y Agency if such do not meet the un
Page 11 and 12: EXHIBIT - 11. Products:Health insur

Memorial Hermann Health Insurance Company Agency Agreement

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?