Common use of Excesses Clause in Contracts

Excesses. 3.1 The excess The insurance may be subject to an excess of such monetary amount and on such terms as the insurer and the insured firm agree. Subject to clause 3.4, the excess may be ‘self-insured’ or partly or wholly insured without regard to these MTC. 3.2 No deductibles The insurance must provide that the excess does not reduce the limit of liability contemplated by clause 2.1. 3.3 Excess not to apply to defence costs The excess must not apply to defence costs. 3.4 Funding of the excess The insurance must provide that, if an insured fails to pay to a claimant any amount which is within the excess within 30 days of it becoming due for payment, the claimant may give notice of the insured’s default to the insurer, whereupon the insurer is liable to remedy the default on the insured’s behalf. The insurance may provide that any amount paid by the insurer to remedy such a default erodes the sum insured. 3.5 One claim The insurance may provide for multiple claims to be treated as one claim for the purposes of an excess contemplated by clause 3.1 on such terms as the insured firm and the insurer agree.

Excesses. 3.1 The excess The insurance may be subject to an excess of such monetary amount and on such terms as the insurer and the insured firm agree. Subject to clause 3.4, the excess may be ‘self‗self-insured’ ‘ or partly or wholly insured without regard to these MTC. 3.2 No deductibles The insurance must provide that the excess does not reduce the limit of liability contemplated by clause 2.1. 3.3 Excess not to apply to defence costs The excess must not apply to defence costs. 3.4 Funding of the excess The insurance must provide that, if an insured fails to pay to a claimant any amount which is within the excess within 30 days of it becoming due for payment, the claimant may give notice of the insured’s insured‘s default to the insurer, whereupon the insurer is liable to remedy the default on the insured’s insured‘s behalf. The insurance may provide that any amount paid by the insurer to remedy such a default erodes the sum insured. 3.5 One claim The insurance may provide for multiple claims to be treated as one claim for the purposes of an excess contemplated by clause 3.1 on such terms as the insured firm and the insurer agree.

Excesses. 3.1 The excess The insurance may be subject to an excess of such monetary amount and on such terms as the insurer and the insured firm agree. Subject to clause 3.4, the excess may be ‘„self-insured’ insured‟ or partly or wholly insured without regard to these MTC. 3.2 No deductibles The insurance must provide that the excess does not reduce the limit of liability contemplated by clause 2.1. 3.3 Excess not to apply to defence costs The excess must not apply to defence costs. 3.4 Funding of the excess The insurance must provide that, if an insured fails to pay to a claimant any amount which is within the excess within 30 days of it becoming due for payment, the claimant may give notice of the insured’s insured‟s default to the insurer, whereupon the insurer is liable to remedy the default on the insured’s insured‟s behalf. The insurance may provide that any amount paid by the insurer to remedy such a default erodes the sum insured. 3.5 One claim The insurance may provide for multiple claims to be treated as one claim for the purposes of an excess contemplated by clause 3.1 on such terms as the insured firm and the insurer agree.

Excesses. 3.1 The excess The insurance may be subject to an excess of such monetary amount and on such terms as the insurer and the insured firm agree. Subject to clause 3.4, the excess may be ‘self-insured’ or partly or wholly insured without regard to these MTC.MTC.‌ 3.2 No deductibles The insurance must provide that the excess does not reduce the limit of liability contemplated by clause 2.1. 3.3 Excess not to apply to defence costs The excess must not apply to defence costs. 3.4 Funding of the excess The insurance must provide that, if an insured fails to pay to a claimant any amount which is within the excess within 30 days of it becoming due for payment, the claimant may give notice of the insured’s default to the insurer, whereupon the insurer is liable to remedy the default on the insured’s behalf. The insurance may provide that any amount paid by the insurer to remedy such a default erodes the sum insured.insured.‌ 3.5 One claim The insurance may provide for multiple claims to be treated as one claim for the purposes of an excess contemplated by clause 3.1 on such terms as the insured firm and the insurer agree.