Holding covered Clause Samples

The "Holding covered" clause serves to ensure that an insurer continues to provide coverage for a risk even if certain policy terms or conditions have not been strictly complied with, pending further agreement or clarification. In practice, this means that if, for example, a vessel's route changes or a cargo's destination is altered without immediate notification to the insurer, the coverage remains in effect temporarily while the parties negotiate any necessary adjustments to the policy or premium. This clause is essential for maintaining uninterrupted insurance protection during unforeseen changes or administrative delays, thereby preventing gaps in coverage that could leave the insured exposed to loss.
Holding covered. If the company is holding cover on a risk they will not reject a claim on the basis that the contribution has not been agreed.
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Holding covered. If the Company is holding covered on a risk they will not reject a claim on the basis that the premium has not been agreed. I Schedule sums Insured blank If, in a schedule of this policy, the sum insured, limit of indemnity or compensation is: (i) left blank or has no monetary amount stipulated against it; (ii) reflected as nil or not applicable or not covered or no indemnity extended; this means the defined event or circumstance shown in the schedule is not Insured by the policy.
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Related to Holding covered

  • Liability Coverage For the benefit of System Agency, Grantee will at all times maintain liability insurance coverage, referred to in Tex. Gov. Code § 2261.102, as “director and officer liability coverage” or similar coverage for all persons in management or governing positions within Grantee’s organization or with management or governing authority over Grantee’s organization (collectively “responsible persons”). Grantee will: 1. maintain copies of liability policies on site for inspection by System Agency and will submit copies of policies to System Agency upon request. 2. maintain liability insurance coverage in an amount not less than the total value of this Contract and that is sufficient to protect the interests of System Agency in the event an actionable act or omission by a responsible person damages System Agency’s interests. 3. notify, and obtain prior approval from, the System Agency Contract Oversight and Support Section before settling a claim on the insurance.

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of $30,000 for all teachers employed half time or more. Any increases in coverage shall not be effective until the teacher reports or is able to report for work.