Common use of Self-Insured Retentions Clause in Contracts

Self-Insured Retentions. Self-insured retentions must be declared to and approved by the Commission. The Commission may require Contractor to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. The policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or Commission.

Self-Insured Retentions. Self-insured retentions must be declared to and approved by the Commission. The Commission may require the Contractor to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, administration and defense expenses within the retention. The policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or Commission.