Common use of Bankruptcy Of An Underlying Insurer Clause in Contracts

Bankruptcy Of An Underlying Insurer. In the event of bankruptcy or insolvency of any "underlying insurer", the insurance afforded by this policy shall not replace such "underlying insurance", but shall apply as if the "underlying insurance" was valid and collectible.

Bankruptcy Of An Underlying Insurer. In the event of bankruptcy or insolvency of any "underlying insurer", the insurance afforded by this policy Policy shall not replace such "underlying insurance", but shall apply as if the "underlying insurance" was valid and collectible.