Extracontractual Damages as used in this Reinsurance Agreement means all liabilities arising from the Business Covered for which any Reinsured and CNA Insurer is liable arising from actual or alleged misconduct, negligence, fraud or bad faith of any Reinsured, any CNA Insurer or any of their Affiliates, or their agents, brokers or Representatives (other than the Reinsurer acting on behalf of the Reinsured pursuant to the Administrative Services Agreement, which liability shall be indemnified pursuant to such agreement) in their handling of claims or losses, or in any of their dealings with their insureds or any other Person. Such liabilities shall include punitive, exemplary, compensatory, and consequential damages. Extracontractual Damages shall also include any and all amounts otherwise included in the definition of Ultimate Net Loss that any Reinsured pays or is obligated to pay to ceding companies under Business Covered that are agreements of assumed reinsurance, whether under the terms of such reinsurance contracts or as a result of agreements between the Reinsured and cedents as to the settlement of specific claims.
Extracontractual Damages means any and all costs, expenses, damages, liabilities or obligations of any kind or nature (including without limitation attorneys fees, consequential and incidental damages, Actual Damages, Punitive and Exemplary Damages, and Statutory Penalties) which arise out of, result from or relate to any act or omission, whether or not in bad faith, intentional, willful, negligent, reckless, careless or otherwise, in connection with a Policy or any of the Liabilities, and which are not contractually covered by the express terms and conditions of such Policy;
Extracontractual Damages has the meaning set forth in Section 12.1(a).
Examples of Extracontractual Damages in a sentence
Extracontractual Damages are any damages for acts or omissions awarded against the Ceding Company, including, for example, those resulting from negligent, reckless or intentional conduct, fraud, oppression, or bad faith committed by the Ceding Company.
The Reinsurer will not participate in and shall not be liable to pay the Ceding Company or others for any amounts in excess of the Reinsured Net Amount at Risk on the Covered Policies for which a Claim occurs, for example, no Extracontractual Damages or liabilities and related expenses and fees.
To the maximum extent permitted by Applicable Law, this Reinsurance Agreement shall cover Extracontractual Damages.
The Reinsurer does not indemnify the --------------------------- Company for, and will not be liable for, any Extracontractual Damages.
Extracontractual Damages shall also include any and all amounts otherwise included in the definition of Ultimate Net Loss that any Reinsured pays or is obligated to pay to ceding companies under Business Covered that are agreements of assumed reinsurance, whether under the terms of such reinsurance contracts or as a result of agreements between the Reinsured and cedents as to the settlement of specific claims.
More Definitions of Extracontractual Damages
Extracontractual Damages means any amount of damage that exceeds the total available limit of liability insurance for all of a liability insurer’s liability insurance policies applicable to a claim for property damage, personal injury, bodily injury, or wrongful death.
Extracontractual Damages means all liabilities arising from the Business Covered for which any CNA Party and CNA Insurer is liable arising from actual or alleged misconduct, negligence, fraud or bad faith of any CNA Party, any CNA Insurer or any of their Affiliates, or their agents, brokers or Representatives (other than NICO acting on behalf of the CNA Parties pursuant to the Administrative Services Agreement, which liability shall be indemnified pursuant to such agreement) in their handling of claims or losses, or in any of their dealings with their insureds or any other Person. Such liabilities shall include punitive, exemplary, compensatory, and consequential damages. Extracontractual Damages shall also include any and all amounts otherwise included in the definition of Ultimate Net Loss that any CNA Party pays or is obligated to pay to ceding companies under Business Covered that are agreements of assumed reinsurance, whether under the terms of such reinsurance contracts or as a result of agreements between the CNA Parties and cedents as to the settlement of specific claims.
Extracontractual Damages means any amount of damage that exceeds the total available limit of liability insurance for all of a liability insurer’s liability insurance policies including uninsured and underinsured motorists applicable to a claim for property damage, bodily injury, or wrongful death.
Extracontractual Damages means any amount of damages caused by the allegedly
Extracontractual Damages means all liabilities for any and all costs, ------------------------ expenses, damages, liabilities or obligations of any kind or nature (including without limitation attorneys fees, consequential and incidental damages, and punitive and exemplary damages) which are incurred by MetLife or the Company or any related entity or any of their respective representatives arising out of, resulting from, or relating to, any alleged or actual act or omission, whether or not in bad faith, intentional, willful, negligent, reckless, careless or otherwise, of MetLife or the Company in connection with a Reinsured Contract or, in the case of an Assumed Contract, a Reinsurance Agreement, and which are not contractually covered by the terms and conditions of such Reinsured Contract or, in the case of an Assumed Contract, such Reinsurance Agreement, whether or not such acts or omissions occurred before or after the Coverage Effective Date.
Extracontractual Damages means all liabilities or obligations for punitive, exemplary, compensatory and consequential damages and any award of interest, penalties or attorneys’ fees relating thereto, for which CGLIC or any of its Affiliates is liable arising from actual or alleged misconduct, negligence, acts or omissions of CGLIC or any of its Affiliates, or their agents, brokers or Representatives in connection with the Business Covered, including (i) the form, sale, marketing, underwriting, production, issuance, cancellation or administration of the Covered Contracts, (ii) the investigation, defense, trial, settlement or handling of claims, benefits, dividends or payments under the Covered Contracts, or (iii) the failure to pay or the delay in payment or errors in calculating or administering the payment of benefits, claims, dividends or any other amounts due or alleged to be due under or in connection with the Covered Contracts.
Extracontractual Damages has the meaning set forth in Section 12.1(a). “Governmental Authority” means any government, political subdivision, court, board, commission, regulatory or administrative agency or other instrumentality thereof, whether federal, state, provincial, local or foreign and including any regulatory authority which may be partly or wholly autonomous. “GRM Direct & Assumed, Syndicate, Pool or Association” means (a) any counterparty under any insurance or reinsurance agreement or cover note with any Reinsured, (b) any Person whose liability for an A&P Claim has been transferred to, or otherwise assumed by, any Reinsured by means of an acquisition, direct insurance, assumption reinsurance, loss portfolio transfer (whether affected by reinsurance or otherwise) or otherwise, or (c) any insurance or reinsurance pool, syndicate or association that, in the case of clauses (a), (b) and (c) is listed on Schedule 1.1(b) attached hereto, in all cases as such assumptions or transfers were in place as of the Inception Date.