ollows:EXPENSE EXHIBITExpense ItemsBasic College Accident & SicknessProducer Commission (includes printing not to exceed 2%)17.00%Managing General Underwriter4.50%Claims Administration4.00%Premium Taxes2.50%Issuing Company Fee4.00%Total Retention32.00% ARTICLE XI CURRENCYAll retentions and limits hereunder are expressed in United States dollars and all premium and loss payments shall be made in United States currency. ARTICLE XII CLAIMS NOTIFICATIONThe Underwriting Manager, on behalf of the Company, shall immediately by facsimile notify the Reinsurer whenever a claim is likely to exceed $5,000 or if any claim meets the following criteria:1.A covered individual has been continually hospitalized for more than one month; or2.A covered individual has made a claim for any of the following disabilities:a. Mental disorders requiring hospital confinement;b.Brain injuries;c. Spinal injuries resulting in real or suspected paralysis of the limbs;d.Serious burns (10% or more of the body with third-degree burns or 30% or more of the body with second-degree burns);e.Multiple or serious fractures;f.Crushing or massive internal injuries;g.Premature births;h.A.I.D.S. (acquired immune deficiency syndrome);i.Organ transplant;j.Cancer;k.Amputations;l.Severe stroke;m.Severe heart disease; orn.Total loss of vision. 3. The Reinsurer shall be liable for its proportionate share of all losses incurred by the Company under the policies reinsured hereunder. The Reinsurer shall also be liable for its proportionate share of all expenses incurred by the Company in the investigation, settlement or contesting the validity of claims or losses covered hereunder (excluding internal office expenses of the Company or Underwriting Manager and salaries of its regular employees) and shall on the other hand be credited with their proportionate share of any amounts received by the Company as recovery. The Company shall advise the Reinsurer promptly of all losses which, i...
