Examples of Individual Insureds in a sentence
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.
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.
The D&O Policies and the E&O Policies provide different coverage, but both sets of policies expressly provide insurance for the Individual Insureds and provide for advancement or reimbursement of defense costs for the Individual Insureds.
Remediation Expenses means reasonable and necessary fees, costs and expenses consented to by the Insurer resulting from the correction of an actual orpotential Breach of Fiduciary Duty, but excluding any fees, costs and expenses associated with finding or assessing such Breach of Fiduciary Duty and any compensation of Individual Insureds or employees of an Insured.
Subject otherwise to the terms hereof, this policy shall cover Loss arising from any Claims made against the estates, heirs, or legal representatives of deceased Individual Insureds, and the legal representatives of Individual Insureds in the event of an Individual Insured’s incompetency, insolvency or bankruptcy, who were Individual Insureds at the time the Wrongful Acts upon which such Claims are based were committed.