Individual Insureds definition
Examples of Individual Insureds in a sentence
The Plaintiffs also argue that the AWAC E&O Policy does not impose a mandatory arbitration requirement on MFGI, the Individual Insureds, or their assignees because those parties themselves did not specifically agree to mandatory arbitration in Bermuda.But the bulk of the Plaintiffs’ Omnibus Reply rests on the argument that the resolution of this dispute will require the adjudicating body to interpret and enforce the Previously Entered Orders in response to Allied World’s potential coverage defenses.
MFGI and the Individual Insureds are clearly “person[s] or [an] entity deriving rights through or asserting rights on behalf of the Named Insured.” (AWAC E&O Policy at 8.) The plain text of the arbitration clause, indeed the very first sentence in Section IX of the policy, plainly provides that Allied World and MFGH, “or any person or entity deriving rights through or asserting rights on behalf of” MFGH, agreed to arbitration.
If coverage under this Part А is excluded, suspended or lost for an Individual Insured due to that Individual Insured's failure to notify the Insurer of the Claim or Occurrence as required by paragraphs (a) and (b) of Condition 4.3, or to cooperate with the Insurer and ALIA in accordance with Condition 4.4(b), coverage shall continue to apply for the benefit of any Additional Insured against whom the Claim in question, or a Claim arising out of the Occurrence in question, is made.
Endorsement Retroactive Date: Individual Insured: Public Benefit Corporation(s) of which the Individual Insureds are an Officer or Director: In consideration of the Named Insured’s payment of premium, and in reliance upon the Named Insured’s statements made in the application for this Community Service Endorsement, incorporated herein by reference, Great Divide Insurance Company (“the Company”) agrees with the Named Insured as follows: The following section is added to I.
The amount of insurance proceeds expended to date for the defense of the Individual Insureds has been staggering, even before the first deposition has been taken.