Loss Coverage Clause Samples

Loss Coverage. 11.1 The vandalism and theft benefit shall be $5,000 and claims shall be honored every six (6) months. The purpose of such reimbursement of employees is for damage or loss, excluding cash, not covered by the employee’s insurance, such damage or loss to have taken place during the employee’s working hours. All reimbursements will be held until January 1 and the end of the fiscal year, at which times reimbursement will be made in full if the $2500 for each half of the year is sufficient; otherwise prorated reimbursement will be made according to the demands on the fund. If less than the $2500 is expended in the first half of the fiscal year, the balance of such monies will be applied toward the satisfaction of claims occurring in the second half of the fiscal year. Such payment may not duplicate the amount paid by the employee’s insurance.

Loss Coverage. It is understood by the Parties that the City and NPS are self-insured for losses to capital facilities owned by the City and NPS. In the event that there is a loss due to fire, flood or other calamity to the facilities leased to NCI for the NCELC, the City shall repair or replace them at its earliest convenience, provided that should the loss have been occasioned by the gross negligence or malfeasence of NCI, or its agents, employees, or representatives, or due to the failure by NCI to properly supervise NCELC program attendees, such loss may be considered a breach of this Memorandum of Agreement by the City and the terms of Article VII may be invoked to remove NCI from its position as operator of the NCELC.

Loss Coverage. During the term of this Agreement, Group shall either obtain professional stop loss coverage through Blue Shield under the terms and conditions set forth in Exhibit H attached hereto or shall obtain professional stop loss coverage either through a third party insurer or through a self-funding methodology acceptable to Blue Shield. Upon request, certificates and other proof of such coverage shall be provided to Blue Shield. Group shall provide Blue Shield with timely notice of cancellation of coverage or change in carrier. If Group elects to have Blue Shield provide such stop loss coverage, by so indicating on the Signature Page hereto, Blue Shield shall provide and charge Group for stop loss coverage as set forth in Exhibit H.

Loss Coverage. The Company and the General Agent shall have the obligation to provide timely and complete loss coverage in accordance with the terms of the Policies. The Company will make prompt determinations as to coverage where requested to do so by the Administrator. Where the Company makes a determination as to coverage, any liability, loss, cost or expense relating to such coverage shall be borne solely by the Company.

Loss Coverage. The Company shall provide timely and complete loss coverage In accordance with the terms of the Policies. When the Company makes a determination as to coverage under any Policy, any liability, loss, cost or expense relating to such coverage shall be borne solely by the Company and the Company agrees to hold the Administrator harmless with respect to same. When the Administrator denies coverage and such denial is not based on the Claims Standards or the Company's explicit written and Iawful instructions, the Administrator shall be liable for any liability, loss, cost or expense relating to such coverage and agrees to hold the Company harmless with respect to same.