Common use of Qualification of Insurers Clause in Contracts

Qualification of Insurers. All insurance required pursuant to this Lease Agreement must be issued by a company licensed and admitted, or otherwise legally authorized to carry out insurance business in the State of California, and each insurer must have a current A.M. Best's financial strength rating of “A-” or better and a financial size rating of “VII” or better.

Qualification of Insurers. All insurance required pursuant to this Lease Agreement must be issued by a company licensed and admitted, or otherwise legally authorized to carry out insurance business in the State of California, and each insurer must have a current A.M. Best's financial strength rating of “A-A” or better and a an financial size rating of “VII” or better.