Permitted Insurers Clause Samples
The Permitted Insurers clause defines which insurance companies are acceptable for providing coverage under the contract. Typically, it sets out specific criteria such as minimum financial ratings, regulatory approvals, or a list of pre-approved insurers that parties must use when obtaining required insurance. This clause ensures that all insurance policies are backed by reliable and solvent insurers, thereby reducing the risk that claims will not be paid due to insurer insolvency or inadequate coverage.
Permitted Insurers. Lessee shall obtain the insurance required by this Exhibit D from responsible insurance companies authorized to do business in Texas (if required by law or regulation) with an A.M. Best Insurance Reports rating of A-, 8 or better.
Permitted Insurers. (a) Required Insurance shall be effected and maintained with one or more insurers provided that each such insurer has a long-term credit rating of at least A3 from ▇▇▇▇▇’▇ or A- from S&P or Fitch.
(b) Any insurer meeting the requirements of Clause 25.2(a) shall be deemed to be an insurance company or insurer satisfactory to the Intercreditor Agent for the purposes of Clause 25.1.
(c) For the avoidance of doubt, captive insurance companies and mutual insurance schemes may be insurers under Clause 25, provided that:
(i) any such captive insurance company or mutual insurance scheme satisfies the requirements of Clause 25.2(a);
(ii) the relevant Insurance Policy issued by any such captive insurance company or mutual insurance scheme satisfies the requirements of Clause 25 in all respects; and
(iii) all of the Relevant Borrower’s rights, title and interest in any Insurance Policy issued by any such captive insurance company or mutual insurance scheme are assigned by way of first priority, perfected security to the Security Trustee (on behalf of the Secured Parties).
Permitted Insurers. The Required Insurance shall be written by companies of recognized financial standing authorized to do insurance business in the state in which the Property are located and have a rating of not less than A+ in Best's Insurance Guide or any successor thereto. The Required Insurance shall name as the insured parties thereunder Landlord and Tenant, as their interests may appear, and Lender as an additional insured under a standard "mortgagee" endorsement or its equivalent satisfactory to Landlord. Landlord shall not be required to prosecute any claim against, or to contest any settlement proposed by, an insurer. Tenant may, at its expense, prosecute any such claim or contest any such settlement in the name of Landlord, Tenant or both with the consent of Landlord, and Landlord will join therein at Tenant's written request upon the receipt by Landlord of an indemnity from Tenant against all costs, liabilities and expenses in connection therewith.
Permitted Insurers. The Company shall obtain the insurance required by this Schedule 9.2 from responsible insurance companies authorized to do business in Texas (if required by law or regulation) with an A.M. Best Insurance Reports rating of A-, 9 or better.
Permitted Insurers. So long as an insurer which is an Affiliate of the Grantor (the "Insurer") shall (A) maintain its good standing as an insurer, (B) be financially sound in the reasonable judgment of CNF and (C) be in compliance with all applicable regulatory requirements, the Grantor may obtain primary insurance coverage from the Insurer, with retained liability for physical damage to the Vehicles and for liability coverage required under Section 6(f)(i)(1) hereof, which retained liability amounts, in both such cases, shall be in amounts not greater than amounts customary for similarly situated companies operating compara ble equipment in the same industry as the Grantor. The Grantor shall obtain its excess insurance and, if the Insurer does not meet the criteria set forth in the preceding sentence or is no longer providing the Grantor's insurance, its primary insurance, from financially responsible companies selected by the Grantor which have an A.M. Best rating of "A" or are otherwise acceptable to CNF.
Permitted Insurers. The Required Insurance shall be written by companies of recognized financial standing authorized to do insurance business in the state in which the Premises are located and have Bests ratings of A X or better. The Required Insurance shall name as the insured parties thereunder Landlord and Tenant, as their interests may appear, and Lender as an additional insured under a standard "mortgagee" endorsement or its equivalent satisfactory to Landlord. Landlord shall not be required to prosecute any claim against, or to contest any settlement proposed by, an insurer. Tenant may, at its expense, prosecute any such claim or contest any such settlement in the name of Landlord, Tenant or both with the consent of Landlord, and Landlord will join therein at Tenant's written request upon the receipt by Landlord of an indemnity from Tenant against all costs, liabilities and expenses in connection therewith.
Permitted Insurers. The Required Insurance shall be written by companies of recognized financial standing and have Bests ratings of A X or better. The Required Insurance shall name as the insured parties thereunder Lessor and Lessee, as their interests may appear, and Lender as an additional insured under a standard "mortgagee" endorsement or its equivalent satisfactory to Lessor. Lessor shall not be required to prosecute any claim against, or to contest any settlement proposed by, an insurer. Lessee may, at its expense, prosecute any such claim or contest any such settlement in the name of Lessor, Lessee or both with the consent of Lessor, and Lessor will join therein at Lessee's written request upon the receipt by Lessor of an indemnity from Lessee against all costs, liabilities and expenses in connection therewith.
Permitted Insurers. The Required Insurance shall be written by companies of recognized financial standing authorized to do insurance business in the state in which the Premises are located and have Bests ratings of A X or better. The Required Insurance shall name as the insured parties thereunder Landlord and Tenant, as their interests may appear, and Lender as an additional insured under a standard "mortgagee" endorsement or its equivalent satisfactory to Landlord. Landlord shall not be required to prosecute any claim against, or to contest any settlement proposed by, an insurer.
Permitted Insurers. The insurance required hereunder shall be written by companies of recognized financial standing authorized to do insurance business in the state in which the Premises are located and have a general policy rating of A or better and a financial class of IX or better by A.M. Best Co. and a Standard and Poor's claims paying ability rating of AA or better, and shall name as the insured parties thereunder Landlord and Tenant, as their interests may appear, and Lender as an additional insured under a standard "mortgagee" endorsement or its equivalent satisfactory to Landlord. Landlord shall not be required to prosecute any claim against, or to contest any settlement proposed by, an insurer. Tenant may, at its expense, prosecute any such claim or contest any such settlement in the name of Landlord, Tenant or both with the consent of Landlord, and Landlord will join therein at Tenant's written request upon the receipt by Landlord of an indemnity from Tenant against all costs, liabilities and expenses in connection therewith.