Franklin Ohio Amended and Restated Principal Underwriting Agreement regarding Issuance of variable annuity contracts and life insurance

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• County: Franklin
• Control #: US-EG-9360
• Format: Word; Rich Text

Description

Underwriting Agreement between Lincoln Life and Annuity Company of New York and Lincoln Financial Advisors Corporation regarding the issuance of public certain variable annuity contracts and variable life insurance The Franklin Ohio Amended and Restated Principal Underwriting Agreement is a crucial document that outlines the terms and conditions governing the issuance of variable annuity contracts and life insurance by Franklin Ohio, a prominent insurance company. This agreement serves as a legally binding arrangement between Franklin Ohio and its underwriters, specifying their roles, responsibilities, and obligations in the process. Under this agreement, Franklin Ohio and the underwriters collaborate closely to ensure the successful underwriting and issuance of variable annuity contracts and life insurance policies to clients. The agreement encompasses various important aspects, including the methodology of determining premium rates, the underwriters' compensation structure, and the process of issuing policies. The Franklin Ohio Amended and Restated Principal Underwriting Agreement sets forth the guidelines for selecting and appointing underwriters who will play a pivotal role in marketing, distributing, and selling variable annuity contracts and life insurance policies. It also highlights the underwriters' commitment to introducing favorable business prospects to Franklin Ohio and their obligation to act in the best interests of the insurance company. Furthermore, this agreement contains provisions related to the underwriters' indemnification and limitation of liability. It ensures that the underwriters bear responsibility for any inaccuracies or misrepresentations involved in the underwriting process. The document specifies the processes and protocols for handling disputes, identifying potential default scenarios, and taking appropriate remedial action. It's important to note that there may be different variations or types of the Franklin Ohio Amended and Restated Principal Underwriting Agreement depending on specific circumstances or product offerings. For instance, Franklin Ohio may have separate agreements for variable annuity contracts and life insurance policies, tailoring them specifically to the unique characteristics and regulatory requirements of each product. In conclusion, the Franklin Ohio Amended and Restated Principal Underwriting Agreement is a comprehensive and critical legal document that governs the issuance of variable annuity contracts and life insurance policies. It establishes a clear framework for collaboration between Franklin Ohio and underwriters, ensuring compliance, transparency, and efficient operations in the realm of insurance underwriting.

The Franklin Ohio Amended and Restated Principal Underwriting Agreement is a crucial document that outlines the terms and conditions governing the issuance of variable annuity contracts and life insurance by Franklin Ohio, a prominent insurance company. This agreement serves as a legally binding arrangement between Franklin Ohio and its underwriters, specifying their roles, responsibilities, and obligations in the process. Under this agreement, Franklin Ohio and the underwriters collaborate closely to ensure the successful underwriting and issuance of variable annuity contracts and life insurance policies to clients. The agreement encompasses various important aspects, including the methodology of determining premium rates, the underwriters' compensation structure, and the process of issuing policies. The Franklin Ohio Amended and Restated Principal Underwriting Agreement sets forth the guidelines for selecting and appointing underwriters who will play a pivotal role in marketing, distributing, and selling variable annuity contracts and life insurance policies. It also highlights the underwriters' commitment to introducing favorable business prospects to Franklin Ohio and their obligation to act in the best interests of the insurance company. Furthermore, this agreement contains provisions related to the underwriters' indemnification and limitation of liability. It ensures that the underwriters bear responsibility for any inaccuracies or misrepresentations involved in the underwriting process. The document specifies the processes and protocols for handling disputes, identifying potential default scenarios, and taking appropriate remedial action. It's important to note that there may be different variations or types of the Franklin Ohio Amended and Restated Principal Underwriting Agreement depending on specific circumstances or product offerings. For instance, Franklin Ohio may have separate agreements for variable annuity contracts and life insurance policies, tailoring them specifically to the unique characteristics and regulatory requirements of each product. In conclusion, the Franklin Ohio Amended and Restated Principal Underwriting Agreement is a comprehensive and critical legal document that governs the issuance of variable annuity contracts and life insurance policies. It establishes a clear framework for collaboration between Franklin Ohio and underwriters, ensuring compliance, transparency, and efficient operations in the realm of insurance underwriting.