Insurance Pools Clause Samples

The Insurance Pools clause establishes a mechanism for grouping multiple parties or risks together to share insurance coverage and costs. In practice, this means that participants contribute to a collective fund or policy, which is then used to cover claims arising from any member of the pool, often resulting in lower premiums and broader coverage than individual policies. The core function of this clause is to distribute risk among several parties, thereby reducing the financial impact on any single participant and promoting more efficient risk management.
Insurance Pools. If the State of Vermont is required by the Vermont Legislature to institute any insurance plan or pool, and the state employees’ health plans are required to participate in such plan or pool, and the plan or pool: (a) includes a membership larger than the groups currently covered by the state employees’ health plans; or (b) alters the structure of the state's current health plan offerings or their operating foundations; or (c) has an impact on plan benefits; or (d) increases premium rates; the State and VSEA agree to a limited contract reopener for the purpose of negotiating the impacts of such change. Both parties shall retain all statutory impasse rights.
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Insurance Pools. If the State of Vermont is required by the Vermont Legislature to institute any insurance plan or pool, pool: (a) plans; or (b) alters the structure of the state's current health plan offerings or their operating foundations; or (c) has an impact on plan benefits; or (d) increases premium rates; the State and VSEA agree to a limited contract reopener for the purpose of negotiating the impacts of such change. Both parties shall retain all statutory impasse rights.
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Insurance Pools. If t he S ▇▇▇▇ of V ermont i s required by t he V ermont Leg islature t o i nstitute any i nsurance pl an or pool, and the state employees’ health plans are required to participate in such plan or pool, and the plan or pool: (a) includes a membership larger than the groups currently covered by the state employees’ health plans; or (b) alters the structure of the state's current health plan offerings or their operating foundations; or (c) has an impact on plan benefits; or (d) increases premium r ates; t he S ▇▇▇▇ and V SEA ag ▇▇▇ ▇ ▇ ▇ ▇ imited co ntract r eopener f or t he purpose of negotiating the impacts of such change. B oth parties shall retain all statutory impasse rights.
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Related to Insurance Pools

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • R&W Insurance Policy (a) Except as set forth in Section 9.09 with respect to Fraud and except with respect to the Surviving Representations and the Certain Matters, notwithstanding anything to the contrary contained in this Agreement, (a) the R&W Insurance Policy shall be the sole and exclusive remedy of the Purchaser Indemnified Parties for any and all Losses that are sustained or incurred by any of the Purchaser Indemnified Parties by reason of, resulting from or arising out of any breach of or inaccuracy in any of the Company’s or any Seller’s representations or warranties contained in this Agreement or in any certificate or other instrument delivered pursuant to this Agreement (other than the Surviving Representations) and (b) the Company and the Sellers shall not have any other direct or indirect liability (derivative or otherwise) to any Purchaser Indemnified Party with respect to any breach of such representations and warranties of the Company or the Sellers. (b) Section 9.04(a) shall apply regardless of whether: (i) Purchaser continues to maintain the R&W Insurance Policy following the Closing; (ii) the R&W Insurance Policy is revoked, cancelled or modified in any manner after issuance; (iii) any claim made by Purchaser under such R&W Insurance Policy is denied by the issuer thereof or (iv) Purchaser fails or refuses to make a claim, or fails to comply with the required claims procedures, under such R&W Insurance Policy. Without limiting the generality of the foregoing, any rights of any issuer of the R&W Insurance Policy, including any rights of subrogation, shall not affect, expand or increase any liability or obligation of the Company or the Sellers to Purchaser Indemnified Parties or any other parties in connection with the transactions contemplated by this Agreement. (c) With respect to any Losses for which a Purchaser Indemnified Party is entitled to indemnification under Section 9.02(i) and Section 9.02(ii), Purchaser shall use its commercially reasonable efforts to submit a claim to recover such Losses from the R&W Insurance Policy before seeking recovery for such Losses from the Sellers (subject to applicable limitations set forth in this ARTICLE IX).

  • Insurance Policies Insurance required herein shall be by companies duly licensed or admitted to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Lessor. Lessee shall, at least thirty (30) days prior to the expiration of such policies, furnish Lessor with evidence of renewals or "insurance binders" evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.

  • Insurance Policy Endorsements Each insurance policy shall include the following conditions by endorsement to the policy: 25.9.1 County shall be notified thirty (30) days prior to the expiration, cancellation, nonrenewal or any material change in coverage, and such notice thereof shall be given to County by certified mail to: 25.10.1 The policy clause “Other Insurance” shall not apply to any insurance coverage currently held by County, to any such future coverage, or to County’s Self-Insured Retentions of whatever nature.

  • Group Insurance All employees covered by this Agreement shall receive the same group insurance benefits as provided to other County employees in accordance with the County Benefit Program.