Examples of Assured in a sentence
The Underwriter shall be liable only if and when the Ultimate Net Loss sustained by the Assured and covered hereunder in respect of interests described herein in any one Occurrence exceeds the amount specified as the deductible on the Policy Declaration in effect at the time of the commencement of the Occurrence.
The Underwriter shall indemnify the Assured upon adjustment and acceptance by Underwriter of a final proof of loss as to the amount in question, subject to such progress payments as the Underwriter shall determine to make upon terms and conditions satisfactory to Underwriter.
If any subsequent payments shall be made by the Assured with respect to the same Occurrence, additional claims shall be made similarly, and within twelve (12) months of such payment.
Liability under insuring agreement 3 shall not attach unless and until the Assured’s liability covered hereunder shall have been fixed and rendered certain either by final judgment against the Assured or by settlement with prior approval in writing by the Underwriter.
As respects loss under insuring agreements 1 and/or 2, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amount of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within a reasonable period after the Assured shall have paid (or, if the property is not to be repaired or replaced, sustained), such amount.