Insurer Requirements Sample Clauses
The 'Insurer Requirements' clause sets out the specific obligations and standards that an insurer must meet under an agreement. Typically, this includes requirements such as maintaining certain levels of financial stability, holding appropriate licenses, and adhering to regulatory standards relevant to the insurance provided. For example, the clause may require the insurer to be authorized to operate in a particular jurisdiction or to maintain a minimum credit rating. The core function of this clause is to ensure that the insurer is reliable and capable of fulfilling its obligations, thereby protecting the interests of the insured party and reducing the risk of non-performance.
POPULAR SAMPLE Copied 1 times
Insurer Requirements. Each insurer issuing a policy of insurance required by the foregoing shall be authorized to issue such policy of insurance under the Laws and to the reasonable satisfaction of the District.
Insurer Requirements. All policies of insurance required under this Section 14 shall be written on companies rated “A-VII” or better by AM Best or a comparable rating and licensed in the state where the applicable Site to which such insurance applies is located.
Insurer Requirements. All insurance required by express provision of this Agreement shall be carried only by responsible insurance companies that have rated “A-” and “V” or better by the A.M. Best Key Rating Guide, that are authorized to do business in the State of New Mexico, and that have been approved by the NMHIX. The NMHIX will accept insurance provided by non-admitted, “surplus lines” carriers only if the carrier is authorized to do business in the State of New Mexico.
Insurer Requirements. All insurance required by express provision of this Agreement shall be carried only by responsible insurance companies that are rated “A-” and “V” or better by the A.M. Best Key Rating Guide, and are licensed to do business in the State of California. CITY will accept insurance provided by non-admitted “surplus lines” carriers only if the carrier is authorized to do business in the State of California.
Insurer Requirements. All policies of insurance required to be obtained and maintained by Service Provider under this Agreement shall be issued by an insurance company acceptable to University, licensed to do business in the State of California, with a rating classification of "A-" or better and a financial size category rating of "IX" or better according to the latest edition of the A.M. Best Company Key Rating Guide.
Insurer Requirements. All insurance required by express provision of this Agreement shall be carried only by responsible insurance companies that have rated “A-” and “V” or better by the A.M. Best Key Rating Guide, that are authorized to do business in the State of New Mexico, The BDDB will accept insurance provided by non-admitted, “surplus lines” carriers only if the carrier is authorized to do business in the State of New Mexico.
Insurer Requirements. All required insurance policies and bonds shall be maintained with (i) insurance companies licensed within the State of Louisiana and holding an AM Best rating of no less than A-, VII, or (ii) through a captive insurance company providing coverage under the laws of the State of Louisiana. Said policies shall contain a provision that the coverage will not be canceled or non-renewed, until at least thirty (30) days prior written notice has been provided to LSU.
Insurer Requirements. All policies issued to Supply Partner which are intended to satisfy the requirements of this section must be written on a form no less broad than ISO form 1986 edition or later and with qualified insurance carriers licensed to do business and admitted in Supply Partner’s state of domicile. All such insurers must be rated no less than type A in accordance with the rating by the company Standard and Poors.
Insurer Requirements. Except for any state workers’ compensation funds, each insurer providing insurance coverage as required in this Addendum shall be licensed, admitted insurer authorized to issue such coverage in the state in which the Project is located, and shall an A.M. Best rating of “A- X” or better. Contractor shall have the right to reject any insurance company selected by Subcontractor for reasonable cause.
Insurer Requirements. Each insurer providing insurance coverage as required in this Agreement shall be a licensed, admitted insurer authorized to issue such coverages in New York state, and shall have an