Basis of the insurance Sample Clauses

Basis of the insurance. 2.1 The information and statements provided by the policyholder and/or the insured to the insurer, including on the application form, medical questionnaire(s) and (issued) health certificate(s) and during medical examination(s), form the basis of the policy and are considered to form part of the policy. This information includes, but is not limited to, demographic information and information about lifestyle. The policyholder must inform the insurer, prior to taking out the insurance, of all facts of which he is or should have been aware and of which he knows or should have understood that the insurer's decision as to whether or not he is prepared to take out the insurance depends on, and if so, under what conditions, whether or not he can depend on it (statutory duty of disclosure). 2.2 The insurer reserves the right to ask for proof of the information provided before accepting the policy. However, if the policy has been accepted without such proof having been requested, or if it has been requested but has not been provided, the insurer reserves the right to request such evidence at any time in the future. If such proof is then requested and the policyholder and/or the insured is not able to provide proof of the information on which the insurer has relied, the insurer reserves the right to take the steps deemed appropriate by the insurer, taking into account the relevance of the information in question. Such steps can include cancellation of the insurance (with or without reimbursement of premiums) or reduction of cover. 2.3 If it appears that the statutory duty of disclosure has not been complied with, the insurer can cancel the insurance or change the insurance to an insurance policy, with or without retroactive effect, under conditions that are acceptable to the insurer with knowledge of the true state of affairs. 2.4 If it appears that the statutory duty of disclosure has not been complied with, no payment shall be due if the insurer would not have accepted the insurance if it had been aware of the actual facts. If a withheld event would have resulted in a higher contribution or a lower insured amount, the payment will be reduced proportionately. If a concealed event would have resulted in different conditions, only the payment that would have been included in the insurance contract based on the other conditions will be due. 2.5 During the term of the insurance, the policyholder can request an increase in the insured capital, an extension of the term o...
Sample 1Sample 2Sample 3See All (33)
AutoNDA by SimpleDocs

Related to Basis of the insurance

  • Insurance and Indemnity (i) You are liable for: (a) the cost of repair of any damage (including accidental and malicious damage) done to any part of the premises including its curtilage or its contents (b) the cost of repair of any damage (including accidental and malicious damage) done to our WiFi service (if any) (c) all claims, losses, damages and costs made against or incurred by us, our employees, volunteers, agents or invitees in respect of damage or loss of property or injury to persons arising as a result of your use of the premises (including the storage of equipment) and your use of our WiFi service (if any), and (d) all claims, losses, damages and costs made against or incurred by us as a result of any nuisance caused to a third party as a result of your use of the premises and/or the use of our WiFi service (if any), and subject to sub-clause (ii), you must indemnify us against such liabilities. (ii) We will take out adequate insurance to insure the liabilities described in sub-clauses (i)(a) and (b) above and may, in our discretion and in the case of non-commercial hirers, insure the liabilities described in sub-clauses (i)(c) and (d) above. We will claim on our insurance for any liability you incur but you must indemnify us against: (a) any insurance excess incurred and (b) the difference between the amount of the liability and the monies we receive under the insurance policy. (iii) Where we do not insure the liabilities described in sub-clauses (i)(c) and (d) above, you must take out adequate insurance to insure such liability and on demand must produce the policy and current receipt or other evidence of cover to our Hall Secretary. If you fail to produce such policy and evidence of cover, we will cancel this Agreement and re-hire the premises to another hirer. We are insured against any claims arising out of our own negligence.

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Coverages This insurance applies to the Described Location, Coverages for which a Limit of Liability is shown and Perils Insured Against for which a Premium is stated. We cover:

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Deductibles and Self-Insured Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. At the option of the City, either (1) the insurer shall reduce or eliminate such deductibles or self-insured retentions as respects the City, its officers, officials and employees; or (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. The limits of insurance required in this agreement may be satisfied by a combination of primary and

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!