Loss in Excess of Policy Limits/Extra Contractual Obligations. A. In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter called “loss in excess of policy limits”) or any punitive, exemplary, compensatory or consequential damages, other than loss in excess of policy limits (hereinafter called “extra contractual obligations”) because of alleged or actual bad faith, negligence or fraud on its part in rejecting an offer of settlement within policy limits, or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action, or in otherwise handling a claim under a policy subject to this Contract, 100% of the loss in excess of policy limits and/or 100% of the extra contractual obligations shall be added to the Company’s loss, if any, under the policy involved, and the sum thereof shall be subject to the provisions of Article V, not exceeding, however, $1,000,000 per occurrence or $3,000,000 in the aggregate as respects the first and second underwriting years collectively and as respects each subsequent underwriting year.
Loss in Excess of Policy Limits/Extra Contractual Obligations. A. In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter called "loss in excess of policy limits") or any punitive, exemplary, compensatory or consequential damages, other than loss in excess of policy limits (hereinafter called "extra contractual obligations"), arising from the handling of any claim on business covered hereunder; such liabilities arising, because of, but not limited to, the following: failure to settle within the policy limit, or by reason of alleged or actual bad faith, negligence or fraud in rejecting an offer of settlement, in the preparation of the defense, in the trial of an action against its insured or in the preparation or prosecution of an appeal consequent upon such an action, or in otherwise handling a claim under a policy subject to this Contract, the loss in excess of policy limits and/or the extra contractual obligations shall be added to the Company's loss, if any, under the policy involved, and the sum thereof shall be subject to the provisions of paragraph A of the Retention and Limit Article.
Loss in Excess of Policy Limits/Extra Contractual Obligations. 12.01 In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter called “Loss in Excess of Policy Limits”) or any punitive, exemplary, compensatory or consequential damages other than loss in excess of policy limits (hereinafter called “Extra Contractual Obligations”) in relation to any Policy or handling a claim reinsured hereunder or anything else related to the business reinsured hereunder, the Reinsurer’s Quota Share of the Loss in Excess of Policy Limits or the Reinsurer’s Quota Share of the Extra Contractual Obligations, as applicable, shall be added to the Company’s loss, if any, under the policy involved, and the sum thereof shall be reinsured under this Agreement.
Loss in Excess of Policy Limits/Extra Contractual Obligations. A. In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter “loss in excess of policy limits”), or any punitive, exemplary, compensatory or consequential damages other than loss in excess of policy limits (hereinafter “extra contractual obligations”) such loss in excess of policy limits and/or extra contractual obligations shall be added to the Company’s loss, if any, under the policy involved, and the sum thereof shall be subject to the provisions of Article V.
Loss in Excess of Policy Limits/Extra Contractual Obligations. A. The Reinsurer shall assume, defend, and protect the Company from 100% of any loss in excess of any policy limit together with any legal costs and expenses incurred in connection therewith, whether or not such loss, costs and expenses are within the terms of any policy, including but not limited to, punitive and exemplary damages (hereinafter referred to as “Loss in Excess of Policy Limits”) having been incurred because of, but not limited to, failure by the Company or its designee to settle within the policy limit or by reason of alleged or actual negligence, fraud, misrepresentation, bad faith or statutory or regulatory violation in rejecting an offer of settlement, in denying or delaying payment or coverage, in the preparation of the defense or in the trial of any suit or other proceeding, or in the preparation or prosecution of an appeal consequent upon such action.
Loss in Excess of Policy Limits/Extra Contractual Obligations. A. In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter called “loss in excess of policy limits”) or any punitive, exemplary, compensatory or consequential damages, other than loss in excess of policy limits (hereinafter called “extra contractual obligations’) because of alleged or actual bad faith or negligence on its part in rejecting a settlement within policy limits, or in discharging its duty to defend or prepare the defense in the trial of an action against its policyholder, or in discharging its duty to prepare or prosecute an appeal consequent upon such an action, or in otherwise handling a claim under a policy subject to this Contract, 100% of the loss in excess of policy limits and/or 100% of the extra contractual obligations shall be covered hereunder.
Loss in Excess of Policy Limits/Extra Contractual Obligations. 16.01 In the event the Company pays or is held liable to pay an amount of loss in excess of its policy limit, but otherwise within the terms of its policy (hereinafter called "loss in excess of policy limits") or any punitive, exemplary, compensatory or consequential damages (hereinafter called "extra contractual obligations") because of alleged or actual bad faith or negligence on its part in rejecting a settlement within policy limits, or in discharging its duty to defend or prepare the defense in the trial of an action against its policyholder, or in discharging its duty to prepare or prosecute an appeal consequent upon such an action, or in otherwise handling a claim under a policy subject to this Agreement, 100% of the loss in excess of policy limits and/or 100% of the extra contractual obligations shall be added to the Company's loss, if any, under the Policy involved, and the sum thereof shall be reinsured 100% under this Agreement.
Loss in Excess of Policy Limits/Extra Contractual Obligations. 19.1 This Agreement shall protect the Company for one hundred percent (100%) of any Loss in Excess of Policy Limits (XPL) and/or one hundred percent (100%) of the Extra Contractual Obligations (ECO) which shall be deemed to be a loss under the Policy involved and shall be subject to this Agreement.
Loss in Excess of Policy Limits/Extra Contractual Obligations. A. In the event that the Company pays or is held liable to pay an amount of Loss in Excess of its Policy Limit, but otherwise within the terms of its Policy (hereinafter called "Loss in Excess of Policy Limits") or any punitive, exemplary, compensatory, or consequential damages or other amounts, including payments pursuant to applicable statutes, other than Loss in Excess of Policy Limits (hereinafter called "Extra-Contractual Obligations") because of alleged or actual bad faith or negligence on its part in rejecting a settlement within Policy limits, or in discharging its duty to defend or prepare the defense in the trial of an action against its policyholder, or in discharging its duty to prepare or prosecute an appeal consequent upon such an action, or in otherwise handling a claim under a Policy subject to this Contract, 100% of the Loss in Excess of Policy Limits and/or 100% of the Extra-Contractual Obligations shall be added to the Company's loss, if any, under the Policy involved, and the sum thereof shall be subject to the provisions of the Retention and Limit Article.
Loss in Excess of Policy Limits/Extra Contractual Obligations
