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...nce of the scissors, details the warranty procedure in case of a problem, and ... cassette packaging also includes a warranty registration card that, when fill...

...ets, accompanied by a reduction in bonds of 32.7% to 12.4% (You might also be concerned about why bonds were cashed and whether the transacti...

...ies thereto. The Seller makes no warranty or representation with respect to wh...ambridge. (zc) No representation or warranty by the Seller or the Stockholder ...

... any breach of any warranty, representation, covenant or underta...ions or on account of any breach of warranty, representation or covenant herei...

... together with surety and fidelity bonds except in instances where the word 'i...ty, casualty, life or other including bonds which may be written or renewed by...

... indicators for your carriers on an ongoing basis. What you'll discover is that, with only marginal vigilance, this real-life insolvency could have been predicted' at least a year or more before the insurer went under Disclaimer: This Checklist provides a tool for documenting financial and marketing information about P/C insurers in order to establish due diligence in the event of Errors and Omissions claims against agents. No warranties, express or implied, are made that the list is either a predictor or a guarantor of a company's financial condition. To illustrate the use of the Insolvency Checklist, please download this financial information excerpted from a 1983 A.M. Best report on a real carrier we'll call the Big Red Insurance Co. (to protect the innocent, guilty, and embarrassed) . Big Red was declared insolvent ... five years. Has the company made any questionable investments (in affiliates, real estate, cash increases, low yields, etc.)? Yes. Using the yields and asset values from Exhibit 2, Big Red's return on investment was only about 2% . In addition, the cash component of the investment portfolio increased from 12.2% to 43.6% of assets, accompanied by a reduction in bonds of 32.7% to 12.4% (You might also be concerned about why bonds were cashed and whether the transaction resulted in a gain or loss. Exhibit 4 provides limited information on this point) . Also note that loans' increased from zero to 14% . MARKETING FACTORS Have there been any major market withdrawals/changes or assumed books of business? Unknown. (Because this information is ...

... to associate together for the purpose of forming a joint venture to provide certain services and assistance exclusively to the Parties with respect to their future operations in the insurance business, and WHEREAS, the Parties desire to consolidate certain aspects of the business operations other than the solicitation and production of insurance business; NOW, THEREFORE, in consideration of the mutual covenants herein contained and in reliance upon the representations and warranties of the respective Parties herein set forth, the Parties do hereby undertake and agree as follows: 1. Definitions: 1.1 For purposes of this Agreement, the following words and phrases shall mean and be defined as follows: (a ) Accounts' shall mean the customers or clients, both entities and individuals, for which a Party shall write insurance business. Included in the definition of Accounts ... be all of the expirations, expiration data and files and records with respect to an Account. (b ) Insurance' shall mean and include all lines of insurance including property, casualty, life and life related lines together with surety and fidelity bonds except in instances where the word insurance' shall be specifically limited to any one or more line of business. (c ) Net Annual Commissions' shall mean gross annual commissions less return commissions excluding all so-called contingent, bonus and profit sharing commissions. Included in Net Annual Commissions shall be all fees received from Accounts for the placement of insurance or other services but shall exclude so-called late charges on overdue premiums. Commissions on so-called audit premiums shall be included as Net Annual Commissions. (d ) Book Value' shall mean the stated value of all ...

... acquire the same, and WHEREAS, the Stockholder is (a ) the record and beneficial owner of all of the issued and outstanding capital stock of the Seller and (b ) its Chief Executive Officer and, as such, desires to enter and conclude the within transaction and will benefit therefrom; NOW, THEREFORE, in consideration of the mutual covenants herein contained and in reliance upon the representations and warranties hereinafter set forth, the parties do hereby agree as follows: WITNESSETH: 1. Sale of Assets. Subject to and in accordance with the terms and conditions herein contained, the Seller does hereby agree to sell, assign, transfer, convey and set over unto the Buyer effective as of December 1, 1992 (hereinafter referred to as the "Accounting Date"), and the Buyer ... hereby agree to purchase the following described assets: (a ) The complete and entire customer list, all expiration files and customer account records used by the Seller in connection with the operation of its property and casualty insurance business (intending thereby, and for all purposes hereunder, to include (i ) surety and fidelity bonds and (ii) group life, health and disability income insurance within the meaning of property and casualty insurance but specifically excluding all individual life, health and disability income insurance and annuities, which individual policies shall remain the property of the Seller), including therewith all underwriting files, claim files and correspondence files, together with all other usual and customary records in connection therewith, which assets are more specifically identified on the Schedule of Accounts annexed hereto, marked EXHIBIT "l ...

... together with surety and fidelity bonds except in instances where the word 'i...ty, casualty, life or other including bonds which may be written or renewed by...

... thereof, subject to certain reimbursement as provided hereinafter. [Employee] shall reimburse [Agency] for ten percent (10%) of all reasonable operating expenses which shall be defined as fuel and normal periodic maintenance charges. Specifically excluded from said costs are the costs of insurance, registration, lease or purchase payments and repairs or maintenance charges other than the normal periodic maintenance required by the car manufacturer's warranty provisions. Said ten percent (10%) reimbursement of costs is to be made when and as billed by [Agency] and represents reimbursement to [Agency] for that portion of the time when said vehicle may be used for [Employee] 's personal use, however, said percentage shall not be meant to limit [Employee] 's personal use of said vehicle. [ ... said average commissions on property and casualty insurance business produced by [Employee] and coded to him. Three quarters ( .75) of the said average commissions of property and casualty insurance business written by the business for other insurance brokers. The average net annual commissions shall be defined as gross annual commissions (on account of the writing or renewal of property and casualty insurance business thereby intending to exclude bonding business) less return commissions paid or allowed as credit exclusive of any so-called contingent, bonus or profit sharing commissions Installment billings on policies written for a period in excess of one year shall be deemed to be renewals for purposes of this computation and commissions on premiums prepaid for a period in excess of one year shall be included, but prorated to represent one year's portion thereof. Additional or return ...