LOSS IN EXCESS OF POLICY LIMITS. 1. This Agreement shall indemnify the Reinsured within the limits hereof in connection with Net Loss in excess of the limit of its original Policy, such loss in excess of the limit having been incurred because of failure by it to settle within the Policy limit or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of any appeal consequent upon such action.
Appears in 3 contracts
Samples: Casualty Excess of Loss Reinsurance Agreement (Delphi International LTD), Casualty Excess of Loss Reinsurance Agreement (Delphi Financial Group Inc/De), Casualty Excess of Loss Reinsurance Agreement (Delphi International LTD)
LOSS IN EXCESS OF POLICY LIMITS. 1. A. This Agreement shall indemnify protect the Reinsured within the limits hereof in connection with Net Loss Company for any loss in excess of the limit of its the Company's original Policypolicy, such loss in excess of the limit having been incurred because of failure by it the Company to settle within the Policy policy limit or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of any an appeal consequent upon such action.. <PAGE> 5 of 26
Appears in 1 contract
Samples: Combined Property and Liability Quota Share Reinsurance Agreement (Commerce Group Inc /Ma)
