Insurance and Other Recoveries means any proceeds which may reasonably be expected to be recovered or recoverable for the account of a Liable Entity or to result in the satisfaction (in whole or part) of a liability of a Liable Entity (of any nature) to a third party, under any product liability insurance policy or public liability insurance policy or commutation of such policy or under any other contract, including any contract of indemnity, but excluding any such amount recovered or recoverable under a Worker’s Compensation Scheme or Policy. Insurer includes any insurer as well the Insurer Guarantee Fund established under the Workers Compensation Xxx 0000 or any similar fund or body (whether within or outside Australia) which assumes the liabilities of defaulting or insolvent insurers.
Examples of Insurance and Other Recoveries in a sentence
In all circumstances, however, the Company expects that any additional indemnified liability that may be recognized by the Company will be subsequently recovered from BP itself or through the guarantees of BPCNA or BP p.l.c. Insurance and Other Recoveries The Company carries insurance to protect against potential financial losses.