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What is Spectrum’s authority level on behalf of its carriers and reinsurers?

April 26, 2017authority behalf carriers level reinsurers spectrum

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What is Spectrum’s authority level on behalf of its carriers and reinsurers?

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Spectrum has full authority to bind coverage and pay claims on behalf of its carrier and reinsurers. Spectrum’s MGU agreements with its carriers stipulate that all specific and/or aggregate excess claims over $100,000 be adjudicated by Spectrum but reviewed by the carrier prior to release.