Common use of Qualified Insurers Clause in Contracts

Qualified Insurers. Unless approved in writing by TxDOT, each of the insurance policies required hereunder shall be procured from an insurance carrier or company that, at the time coverage under the applicable policy commences is: (a) authorized to do business in the State of Texas and has a current policyholder’s management and financial size category rating of not less that “A – VII” according to A.M. Best’s Insurance Reports Key Rating Guide; or (b) otherwise approved by TxDOT.

Qualified Insurers. Unless approved in writing by TxDOT, each of the insurance policies required hereunder shall be procured from an insurance carrier or company that, at the time coverage under the applicable policy commences is: (a) is authorized to do business in the State of Texas and has a current policyholder’s management and financial size category rating of not less that “A – VII” according to A.M. BestX.X. Xxxx’s Insurance Reports Key Rating Guide; or (b) otherwise approved by TxDOT.