Common use of NO LIABILITY FOR DAMAGES Clause in Contracts

NO LIABILITY FOR DAMAGES. The Reinsurer will not participate in and shall not be liable to pay the Ceding Company or others for any amounts in excess of the Reinsured Net Amount at Risk on the Covered Policies for which a Claim occurs, for example, no Extracontractual Damages or liabilities and related expenses and fees. Extracontractual Damages are any damages for acts or omissions awarded against the Ceding Company, including, for example, those resulting from negligent, reckless or intentional conduct, fraud, oppression, or bad faith committed by the Ceding Company. The Ceding Company agrees that it will not make the Reinsurer a party to any litigation between any such third party and the Ceding Company. The excluded Extracontractual Damages shall include, by way of example: a. actual and consequential damages; b. damages for emotional distress or oppression; c. punitive, exemplary or compensatory damages; d. statutory damages, regulatory fines, or penalties; e. amounts in excess of the risk reinsured hereunder that the Ceding Company pays to settle a dispute or Claim; f. third-party attorney fees, costs and expenses.