Common use of Qualified Insurers Clause in Contracts

Qualified Insurers. 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 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 in writing by TxDOT.

Qualified Insurers. 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 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 in writing by TxDOT.