Common use of Involuntary Unemployment Clause in Contracts

Involuntary Unemployment. Involuntary Unemployment means a termination, lay off, retrenchment or permanent dismissal of a salaried person from his/her primary occupation due to cost cutting, downsizing, closure of unit, company or organization, as the case may be, taking place during the Policy Period. Involuntary Unemployment does not include any unemployment caused due to or arising from poor performance, dismissal due to a fraudulent act, non-compliance of any company or organization’s internal rules/guidelines, or any disciplinary action.

Involuntary Unemployment. Involuntary Unemployment means a termination, lay off, retrenchment or permanent dismissal of an Insured Person who is a salaried person Salaried Individual from his/her primary occupation due to Injury sustained, Illness contracted, cost cutting, downsizing, closure of unit, company or organization, as the case may be, taking place during the Policy Coverage Period. For the purpose of this Policy, Involuntary Unemployment does not include any unemployment caused due to or arising from poor performance, dismissal due to a fraudulent act, non-compliance of any company or organization’s internal rules/guidelines, or any disciplinary action.company