Examples of Designated Named Windstorm in a sentence
On December 10, 2009 the Board of Directors resolved that effective January 1, 2010 the factor used to determine the Designated Named Windstorm Annual Aggregate Limit shall be two (2).
As respects any Designated Named Windstorm Occurrence only the portion of Named Windstorm Losses exclusive of any amount within any Quota Share Retention or subject to Retrospective Premium shall be taken into account as respects the Aggregation Limit.
A Named Insured may elect to purchase less than the insurance limits per occurrence prescribed in paragraph A, either generally or with respect to one or more specific Sectors or, in respect of Designated Named Windstorm Occurrences, Geographic Regions.
A Named Insured may elect to purchase coverage on a quota share basis, either generally or with respect to one or more specific Sectors or, in respect of Designated Named Windstorm Occurrences, Geographic Regions.
Additional per occurrence limits may be granted above ten percent (10%) of the Named Insured’s Unmodified Gross Assets at the discretion of the Board of Directors up to the Maximum Insurance Limit Per Occurrence (or the Maximum Designated Named Windstorm Insurance Limit Per Occurrence, if applicable).
Each Named Insured shall initially have the option of selecting a deductible greater or equal to the Minimum Deductible (in multiples of five million dollars ($5,000,000)) as the Underwriter may offer from time to time with respect to each occurrence, except as otherwise provided in Condition F.4a of the Policy, either generally or with respect to one or more specific Sectors or, as respects any Designated Named Windstorm Occurrence, any Geographic Regions.
Each Named Insured shall have the option of selecting a deductible greater or equal to the Minimum Deductible (in multiples of five million dollars ($5,000,000)) with respect to each occurrence, except as otherwise provided in Condition F.4a of the Policy, either generally or with respect to one or more specific Sectors or, as respects any Designated Named Windstorm Occurrence, any Geographic Regions.
Such Aggregation Limit may be set by the Board of Directors at different amounts in respect of any Designated Named Windstorm Occurrence and any other Occurrence.
There are now definitions for Minimum Insurance Limit Per Occurrence and Minimum Designated Named Windstorm Insurance Limit Per Occurrence.
Occurrence Limits With respect to any Occurrence, The insurance limit per occurrence other than a Designated Named Windstorm Occurrence, the insurance limit per occurrence shall be the lesser of: (a1) ten percent (10%) of Unmodified Gross Assets rounded to the nearest ten thousand dollars ($10,000), or (b2) the Maximum Insurance Limit Per Occurrence.