Recoveries. If we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply: a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment. b. Any proper expenses incurred by either party in making the recovery are reimbursed first. c. The insured may keep recovered property by refunding us the amount of the claim paid or any lesser amount to which we agree. d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 7 contracts
Samples: Insurance Agreement, Farm Premises Liability Insurance Coverage Agreement, Storekeeper’s General Liability Insurance Agreement
Recoveries. If if we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.;
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.;
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.; and
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 5 contracts
Samples: Insurance Policy, Insurance Agreement, Insurance Policy
Recoveries. If we pay an insured for loss under this policy and lost or damaged property is recovered recovered, or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance liability or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 4 contracts
Samples: General Policy Provisions Agreement, Condominium Unit Owners / Cooperative Apartment Shared Ownership Agreement, General Policy Provisions Agreement
Recoveries. If we pay an insured for loss under this policy policy, and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance liability or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 3 contracts
Samples: Insurance Policy, Insurance Policy, Insurance Policy
Recoveries. If we pay an insured for loss under this policy and lost or damaged property is recovered recovered, or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.
c. The insured may keep recovered property by refunding to us the amount of the claim paid paid, or any lesser amount to which we agree.
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance liability or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 3 contracts
Samples: Insurance Policy, Insurance Agreement, Insurance Agreement
Recoveries. If if we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.;
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.;
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.; and
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-pro rated between the insured and us based on our respective interests in the loss.
Appears in 1 contract
Samples: Insurance Policy Agreement
Recoveries. If if we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.;
b. Any proper expenses incurred by either party xxxxx in making the recovery are reimbursed first.;
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.; and
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 1 contract
Samples: Insurance Agreement
Recoveries. If we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.;
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.;
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.; and
d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.
Appears in 1 contract
Samples: Insurance Policy
Recoveries. If we pay an insured for loss under this policy policy, and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply:
a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment.
b. Any proper expenses incurred by either party in making the recovery are reimbursed first.
c. The insured may keep recovered property by refunding to us the amount of the claim paid or any lesser amount to which we agree.
d. If the claim paid is less than the agreed loss due to a deductible, special limit amount of insurance or other limiting terms of the policy, any recovery will be pro-rated prorated between the insured and us based on our respective interests in the loss.
Appears in 1 contract
