Excess Limits Liability as used in this Agreement shall mean damages payable in excess of the limit of the Policies as a result of alleged or actual negligence, fraud, or bad faith in failing to settle and/or rejecting a settlement within the limit of the Policies, in the preparation of the defense, in the trial of any action against the insured or reinsured, or in the preparation or prosecution of an appeal consequent upon such action. Excess Limits Liability is any amount for which XLCA would have been contractually liable to pay, as determined by XLCA in its sole discretion, had it not been for the limits of the reinsured Policy. The date on which any Extra Contractual Obligation and/or Excess Limits Liability is incurred by XLCA shall be deemed, in all circumstances, to be the date of the original loss. In the event any provision of this Article VI is rendered illegal or unenforceable by the laws, regulations, or public policy of any jurisdiction, such provision shall be considered void as respects that jurisdiction only, and such a consideration shall not affect the validity or enforceability of any other provision of this Article VI in that jurisdiction nor the enforceability of such provision in any other jurisdiction. In no event shall coverage be provided to the extent that such coverage is not permitted under New York Law.
Excess Limits Liability as used in this Agreement will mean any amount for which the Company would have been contractually liable to pay had it not been for the limits of the reinsured policy. There will be no recovery hereunder where the extra contractual obligation or excess limits liability has been incurred due to fraud committed by a member of the board of directors or a corporate officer of the Company, acting individually, collectively, or in collusion with a member of the board of directors, a corporate officer, or a partner of any other corporation, partnership, or organization involved in the defense or settlement of a claim on behalf of the Company. The date on which any extra contractual obligation and/or excess limits liability is incurred by the Company will be deemed, in all circumstances, to be the date of the original loss. Nothing in this Article will be construed to create a separate or distinct loss apart from the original covered loss that gave rise to the extra contractual obligations and/or excess limits liability discussed in the preceding paragraphs. The Reinsurers’ liability as respects extra contractual obligations and/or excess limits liability under the Agreement will be in addition to the indemnification coverage set.
Excess Limits Liability means any amounts payable in excess of the policy limit as a result of alleged or actual negligence in failing to settle or rejecting a settlement within the policy limit, in the preparation of the defense, in the trial of any action against the insured, or in the preparation of or prosecution of an appeal consequent upon such action. The date on which any Excess Limits Liability is incurred by the Ceding Company will be deemed, in all circumstances, to be the same date established in respect of the claim from which the Excess Limits Liability arose.
Examples of Excess Limits Liability in a sentence
This Agreement shall cover any losses arising from Extra Contractual Obligations and Excess Limits Liability.
XLCA shall, in its sole discretion, monitor, evaluate, negotiate, adjust, investigate, settle, defend or compromise all claims or potential claims and all losses or potential losses, including Extra Contractual Obligations and Excess Limits Liability.
The Company shall, in its sole discretion, monitor, evaluate, negotiate, adjust, investigate, settle, defend or compromise all claims or potential claims and all losses or potential losses, including Extra Contractual Obligations and Excess Limits Liability.
Ultimate Net Loss shall mean Loss Payment and shall include Allocated Loss Adjustment Expenses, plus Unallocated Loss Adjustment Expenses subject to a limit of 10% of Ceded Premium, plus 80% of the Reinsurer’s Quota Share Percentage of the first $3,000,000 of Extra Contractual Obligations and or Excess Limits Liability.
The date on which any Extra Contractual Obligation and/or Excess Limits Liability is incurred by the Reassured will be deemed, in all circumstances, to be the date of the original occurrence.
More Definitions of Excess Limits Liability
Excess Limits Liability as used in this Contract will mean any amount for which the Company would have been contractually liable to pay had it not been for the limit of the Contract.
Excess Limits Liability means any amounts payable in excess of a Reinsured Policy limit as a result of alleged or actual negligence or reckless conduct in failing to settle or rejecting a settlement within the policy limit, in the preparation of the defense, in the trial of any action against the insured or reinsured, or in the preparation of or prosecution of an appeal consequent upon such action. The date on which any Excess Limits Liability is incurred by a Cedent will be deemed, in all circumstances, to be the same date established in respect of the claim from which the Excess Limits Liability arose.
Excess Limits Liability as used in this Agreement will mean damages payable in excess of the policy limit as a result of alleged or actual negligence, fraud, or bad faith in failing to settle and/or rejecting a settlement within the policy limit, in the preparation of the defense, in the trial of any action against the insured or reinsured, or in the preparation or prosecution of an appeal consequent upon such action. Excess limits liability is any amount for which the Company would have been contractually liable to pay had it not been for the limits of the reinsured policy. There will be no recovery hereunder where the extra contractual obligation or excess limits liability has been incurred due to fraud committed by a member of the board of directors or a corporate officer of the Company, acting individually, collectively, or in collusion with a member of the board of directors, a corporate officer, or a partner of any other corporation, partnership, or organization involved in the defense or settlement of a claim on behalf of the Company. The date on which any extra contractual obligation and/or excess limits liability is incurred by the Company will be deemed, in all circumstances, to be the date of the occurrence under the Company's occurrence policy and/or the date of the first claim made against the Company's claims made policy. Nothing in this Article will be construed to create a separate or distinct loss apart from the original covered loss that gave rise to the extra contractual obligations and/or excess limits liability discussed in the preceding paragraphs. In no event will the total liability of the Reinsurers exceed their applicable limit of liability as set forth in the Retention and Limit Article. If any provision of this Article will be rendered illegal or unenforceable by the laws, regulations, or public policy of any state, such provision will be considered void in such state, but this will not affect the validity or enforceability of any other provision of this Agreement or the enforceability of such provision in any other jurisdiction. SPECIAL TERMINATION ------------------- The Reinsurer may terminate this Agreement before 3/1/2001 or 3/1/2002 upon the happening of any of the following circumstances:
Excess Limits Liability as used in this Agreement will mean any amounts payable in excess of the policy limit as a result of alleged or actual negligence, fraud, or bad faith in failing to settle or rejecting a settlement within the policy limit, in the preparation of the defense, in the trial of any action against the insured or reinsured, or in the preparation or prosecution of an appeal consequent upon such action. Excess limits liability is any amount for which the Company would have been contractually liable to pay had it not been for the limits of the policy. There will be no recovery hereunder where the extra contractual obligation or excess limits liability has been incurred due to fraud committed by a member of the board of directors or a corporate officer of the Company, acting individually, collectively, or in collusion with a member of the board of directors, a corporate officer, or a partner of any other corporation, partnership, or organization involved in the defense or settlement of a claim on behalf of the Company. The date on which any extra contractual obligation or excess limits liability is incurred by the Company will be deemed, in all circumstances, to be the same date established in respect of the claim from which the extra contractual obligation or excess limits liability arose. In the event any provision of this Article is rendered illegal or unenforceable by the laws, regulations, or public policy of any jurisdiction, such provision will be considered void as respects that jurisdiction only, and such a consideration will not affect the validity or enforceability of any other provision of this Article in that jurisdiction nor the enforceability of such provision in any other jurisdiction. 109
Excess Limits Liability has the meaning ascribed in the Extra Contractual Obligations Article.
Excess Limits Liability will mean any amount payable in excess of the Company’s Policy limit on a Policy reinsured hereunder, such liabilities arising because of, but not limited to, alleged or actual negligence, fraud, or bad faith in failing to settle and/or rejecting a settlement within the Policy limit; in the preparation of the defense or in the trial of any action against the insured or reinsured; or in the preparation or prosecution of an appeal consequent upon such action. Excess Limits Liability is any amount which the Company would have been contractually liable to pay had it not been for the limit of the reinsured Policy. The date on which any Extra Contractual Obligation and/or Excess Limits Liability is incurred by the Company will be deemed, in all circumstances, to be the date of the original Loss Occurrence. In no event will coverage be provided to the extent that such coverage is not permitted by applicable law.
Excess Limits Liability means any amount for which the Company would have been contractually liable to pay had it not been for the limits of the reinsured policy.