Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a qualifying insurer, provided that the insurance may provide that the insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance. 2.6.2 Where the insurance is underwritten jointly by more than one insurer: (a) the insurance must state which qualifying insurer shall be the lead insurer; and (b) in addition to any proportionate limit on defence costs in accordance with clause 2.3, the insurance may provide that each insurer’s liability for defence costs is further limited to the extent or the proportion of that insurer’s liability (if any) in relation to the relevant claim.
Appears in 4 contracts
Samples: Qualifying Insurer’s Agreement, Qualifying Insurer’s Agreement, Qualifying Insurer’s Agreement
Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a qualifying insurer, provided that the insurance may provide that the insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance.
2.6.2 Where the insurance is underwritten jointly by more than one insurer:
(a) the insurance must state which qualifying insurer shall be the lead insurer; and
(b) in addition to any proportionate limit on defence costs in accordance with clause 2.3, the insurance may provide that each insurer’s insurer‘s liability for defence costs is further limited to the extent or the proportion of that insurer’s insurer‘s liability (if any) in relation to the relevant claim.
Appears in 3 contracts
Samples: Qualifying Insurer’s Agreement, Qualifying Insurer’s Agreement, Qualifying Insurer’s Agreement
Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a qualifying participating insurer, provided that the insurance may provide that the insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance.
2.6.2 Where the insurance is underwritten jointly by more than one insurer:
(a) the insurance must state which qualifying participating insurer shall be the lead insurer; and
(b) in addition to any proportionate limit on defence costs in accordance with clause 2.3, the insurance may provide that each insurer’s insurer‟s liability for defence costs is further limited to the extent or the proportion of that insurer’s insurer‟s liability (if any) in relation to the relevant claim.
Appears in 2 contracts
Samples: Participating Insurer’s Agreement, Participating Insurer’s Agreement
Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a qualifying participating insurer, provided that the insurance may provide that the insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance.
2.6.2 Where the insurance is underwritten jointly by more than one insurer:
(a) the insurance must state which qualifying participating insurer shall be the lead insurer; and
(b) in addition to any proportionate limit on defence costs in accordance with clause 2.3, the insurance may provide that each insurer’s liability for defence costs is further limited to the extent or the proportion of that insurer’s liability (if any) in relation to the relevant claim.
Appears in 1 contract
Samples: Participating Insurer’s Agreement
