Common use of Minimum Security Requirements Clause in Contracts

Minimum Security Requirements. Each insurance policy required hereunder shall be (1) subject to reasonable approval by City that it conforms with the requirements of this Section, and (2) be issued by an insurer rated A–:VII or higher in the then-current A. M. Best’s Key Rating Guide and licensed to do business in the State of Washington unless procured under the provisions of chapter 48.15 RCW (Unauthorized insurers).

Minimum Security Requirements. Each insurance policy required hereunder shall be (1) subject to reasonable approval by City that it conforms with the requirements of this Sectionsection, and (2) be issued by an insurer rated A–:VII A–:VIII or higher in the then-current A. M. Best’s 's Key Rating Guide and licensed to do business in the State of Washington unless procured under the provisions of chapter 48.15 RCW (Unauthorized insurers).

Minimum Security Requirements. Each insurance policy required hereunder shall be (1) subject to reasonable approval by City that it conforms with the requirements of this Section, and (2) be issued by an insurer rated A–:VII A–:VIII or higher in the then-current A. M. Best’s 's Key Rating Guide and licensed to do business in the State of Washington unless procured under the provisions of chapter 48.15 RCW (Unauthorized insurers).