It is a condition of this reinsurance that the Reinsured shall, upon knowledge of any loss or accident or circumstances which could give rise to a claim under the Original Policy, immediately give notice to Reinsurers hereon, advising all details of such loss or accident or circumstances and shall as soon as practicable subsequently furnish to Reinsurers, all information, original documents, reports, certificates, statements, affidavits, and materials of every description as the Reinsurers hereon may require. Reinsurers shall have the sole right to appoint adjusters, assessors, surveyors, experts, lawyers, etc., and control and enter into any negotiations, adjustments, and settlements (including “ex-gratia”) and direct any action against third parties as they may deem appropriate, on behalf of the Reinsured.
Fees and expenses relating to any claim under this Reinsurance/ the Original Policy will be apportioned proportionally between Reinsurers and the Reinsured, as their respective share in this reinsurance.
