Underlying Limits definition

Underlying Limits means, with respect to each Insurance Product, an amount equal to the aggregate of all limits of liability for each Insurance Product stated in Endorsement No. 1 to this Policy, plus the uninsured retention or deductible, if any, applicable to the Primary Policy under such Insurance Product.

Underlying Limits means the greater of:

Underlying Limits means an amount equal to the total of all aggregate limits of liability for all Underlying Policies, plus the uninsured retention or deductible applicable to the primary policy named in Item 5. of the Declarations.

Examples of Underlying Limits in a sentence

• If however, a settlement of the loss is practicable prior to taking the case into court, whether by compromise or otherwise, for a sum not exceeding the Underlying Limits, no legal costs shall be payable by the Insurers.

• Should any part of the Underlying Limit(s) of Liability be paid or payable by the Insured or any other third party, for any reason whatsoever, such amount shall be deemed to apply towards the reduction or exhaustion of the Underlying Limit(s) of Liability.

• If the Underlying Limits are partially reduced solely due to actual payment under the Underlying Insurance, this Policy shall continue to apply as excess insurance over the remaining Underlying Limits.

• Payment of loss by any Insured(s) or issuer of DIC Insurance that would otherwise constitute uncovered loss under this policy shall not erode or affect the Underlying Limits of Liability.

• Underwriters hereon acknowledge reduction or exhaustion of the Underlying Limit(s) of Indemnity in the event of such limit(s) being partly or completely eroded by any claims or losses or costs and expenses that are not covered under this Insurance.

More Definitions of Underlying Limits

Underlying Limits means the aggregate sum of all limits of liability of all

Underlying Limits means an amount equal to the aggregate of all the limits of the Underlying Insurance combined (excess of their retentions).

Underlying Limits means the sum of amounts:

Underlying Limits means the total aggregate of all limits of liability of all Underlying Insurance.

Underlying Limits means an amount equal to the aggregate of all limits of liability as set forth in Schedule A for all Underlying Policies, plus the uninsured retention, if any, applicable under the Followed Policy.

Underlying Limits means, subject to the minimum requirements set forth in the Insuring Agreement VI (“Maintenance of Underlying Insurance”), the sum of the applicable limits of liability of all underlying insurance available to the insured (including any deductible amount or other participation by the insured), provided that such underlying insurance shall be deemed applicable and available to the insured irrespective of

Underlying Limits means an amount equal to the total of all of the aggregate Limits of Liability, as set forth in Item 4 of the Declarations, for all Underlying Insurance.