Claims Expense definition

Claims Expense means 1) fees charged by attorneys designated by the Company and 2) all other fees, costs, and expenses resulting from the investigation, adjustment, defense and appeal of a claim, suit or proceeding arising in connection therewith, if incurred by the Company, or by the Insured with written consent of the Company. The Company, may at its option, pay such additional expense as it deems necessary to provide legal services to or for the benefit of the Insured to rectify an error or omission alleged against the Insured. The cost of such legal services shall be considered as claims expense hereunder; provided, however, that “claims expense” does not include salary charges or expenses of regular employees or officials of the Company.

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Claims Expense shall have the meaning set forth in Section 9.01.

Claims Expense means (1) fees charged by attorneys designated by the Company and (2) all other fees, costs, and expenses resulting from the investigation, adjustment, defense and appeal of a claim, suit or proceeding arising in connection therewith, if incurred by the Company, or by the Insured with written consent of the Company. The Company, may at its option, pay such additional expense as it deems necessary to provide legal services to or for the benefit of the Insured to rectify an error or omission alleged against the Insured. The cost of such legal services shall be considered as claims expense hereunder; provided, however, that “claims expense” does not include salary charges or expenses of regular employees or officials of the Company.

Examples of Claims Expense in a sentence

These incidental coverages do not increase the limit of liability stated for the principal coverages except: Claims Expense Coverage and First Aid Expense Coverage.
The Insured shall not admit or assume any liability, incur any Claims Expense, enter into any settlement agreement or stipulate to any judgment without the prior written consent of the Insurer.
All costs and expenses billed by the Firm in connection with the performance of its duties described herein (“Firm Expenses”) shall be paid from the Escrow Account, unless the Company’s determination of the CVR Payment Amount is less than 85% of the CVR Payment Amount determined by the Firm, in which case the Company shall pay 100% of the Firm Expenses and such amount shall not be considered a Claims Expense.
Any compensation paid to the Trustee shall be on terms acceptable to a majority of the Rights Agents (other than the Independent Rights Agent and any Rights Agent who is named Trustee) and such compensation shall constitute a Claims Expense.
The supplemental deductible applies to Damages and Claims Expense and applies, in addition to the per claim deductible, to each and every Claim made until the supplemental deductible amount specified on the PROFESSIONAL LIABILITY DECLARATIONS is paid in full.

More Definitions of Claims Expense

Claims Expense means those payments we make pursuant to our duty to defend, as set forth below.

Claims Expense means medical claims incurred or received and reported as medical expenses for such period in accordance with GAAP.

Claims Expense means the cost of investigation, negotiation, arbitration, defense or administration of a Claim for Damages, made or threatened, including but not limited to the cost of experts, adjusters, attorneys and others deemed necessary by the Company to properly determine the facts of a Claim and evaluate the course of action to be taken. “Claims Expense” may include, at the sole option of the Company, premiums for appeal bonds, costs charged by a court in a Claim defended by the Company, pre-judgment and post-judgment interest expenses in a Claim defended by the Company, Legal Expenses incurred on behalf, by request or after prior written approval is granted by the Company and reasonable direct expenses, other than loss of income or loss of economic opportunity, incurred by the Insured at the request of the Company, excluding salaries or any other forms of compensation paid to owners, partners, directors or officers or others employed at any time by the Insured. Company

Claims Expense means reasonable expenses incurred by the Insured in establishing the existence and amount of any direct loss covered in excess of the Deductible Amount of this Policy, as stated in the Declarations. The reasonableness of such expenses shall be determined by the Company and shall not include internal corporate obligations of the Insured, such as employee wages or internal costs.

Claims Expense means the health care claims payable under the Group Health Plan plus other fees designated as Claims Expense in this Agreement or otherwise specifically approved by the Plan Administrator for inclusion as a Claims Expense.

Claims Expense means expenses incurred by the "Insured" with the Company's consent in defense of a claim covered by this policy for investigation, medical examinations, medical testimony, court costs, interest on awards and judgments, premiums on bonds, and legal fees other than fees paid to counsel engaged by the "Insured" on a regular retainer, excluding salaries customarily paid to Employees and all other office expenses of the "Insured".

Claims Expense means: (a) fees charged by any attorney or arbitrator designated by Us; (b) all other fees, costs and expenses resulting from the investigation, adjustment, defense or appeal of a Claim, arbitration, Suit or other proceeding, if incurred by Us or by the Insured with Our written consent. Claims Expense does not include salary or expense of Our employees.