Insurance Coverage Action definition

Insurance Coverage Action means any action brought before a court, arbitrator, or other tribunal seeking determination of one or more causes of action, including declaratory relief, indemnification, contribution, or an award of damages, arising out of or relating to any of the Insurance Policies.

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Insurance Coverage Action means any action against an Insurer (or to the extent necessary to enforce an action against an Insurer) asserting claims for indemnification, reimbursement, contribution, or other payment under the D&O Liability Insurance Policies, any action asserting a violation of the implied covenant of good faith and fair dealing, and any related action; provided, for the avoidance of doubt, that the Insurance Coverage Actions shall not be asserted against any Released Party.

Insurance Coverage Action means the insurance coverage declaratory judgment action filed by Howard Mills, Acting Superintendent of Insurance of the State of New York as Ancillary Receiver of The Home Insurance Company against the Estate of Lillian Wiesner (“Wiesner Estate”), John P. Maffei (“John Maffei”), and Executeam Corp. in the Supreme Court of the State of New York, Count of Nassau, Index No. 06/006933, and arising out of the Plaintiff’s claims

Examples of Insurance Coverage Action in a sentence

• By entering into this Settlement Agreement the Parties do not intend to admit the validity of any allegation set forth in such Insurance Coverage Action.

• In fact, it is a material provision of this Settlement Agreement, without which the Parties would not agree to enter into this Settlement Agreement, that the Parties are not admitting such merits; and that the Parties intend by the settlement of the Insurance Coverage Action merely to resolve the disputed issues, avoid further litigation and to have their peace.

• Upon payment of the Settlement Payment by the ACE Companies as set forth in Paragraph 3.01, Patriot will dismiss with prejudice all of its claims against the ACE Companies in the ▇▇▇▇▇ County Insurance Coverage Action, including dismissal with prejudice and release of any bad faith, improper claims handling, and similar claims, and all claims for past, present and future defense costs and attorneys’ fees.

• The ACE Companies agree to waive and dismiss any past, present and future claims for contribution, subrogation, set off and similar relief against Patriot, Patriot’s other insurers, or any other entities that were parties to the ▇▇▇▇▇ County Insurance Coverage Action or the ▇▇▇▇▇ County Well Water Litigation.

• Notwithstanding the foregoing, the ACE Companies reserve the right to assert claims for contribution, subrogation, set off and similar relief in response to any claim for contribution filed against it by any other insurer that was or is a party to the ▇▇▇▇▇ County Insurance Coverage Action.

• AMS acknowledges that this is a full and final release of the Policy and that no sums of money, except as expressed in this Agreement, will be paid by Federal to AMS or any other person claiming to be an insured under the Policy, as a result of the Insurance Coverage Action, or as a result of any other claim, known or unknown, past, present or future, that might arise under the Policy.

• Patriot and the ACE Companies reached a settlement of the ▇▇▇▇▇ County Insurance Coverage Action during mediation on June 11, 2013.

• The Parties to this Settlement Agreement each dispute all of the allegations made against them by the respective opposing Parties in the Insurance Coverage Action.

More Definitions of Insurance Coverage Action

Insurance Coverage Action refers to a case generally known as AMS v. Columbia Casualty Company, Continental Casualty Company, CNA Financial Corporation, Liberty Mutual Insurance Company and Federal Insurance Company, now pending as San Diego Superior Court, Case No. GIC 832603.

Insurance Coverage Action means any action brought before a court, arbitrator, or other

Insurance Coverage Action. U.S. Gypsum sued its insurance carriers in 1983 to obtain coverage for asbestos cases (the "Coverage Action") and has settled all disputes with its solvent carriers. As of December 31, 1999, after deducting insolvent coverage and insurance paid out to date, and taking into account recent settlements, approximately $142 million of insurance remained with 8 carriers, all of which have agreed, subject to certain limitations and conditions, to cover asbestos-related costs. Insurance payments to U.S. Gypsum for all asbestos-related matters, including property damage, personal injury, insurance coverage litigation and related expenses, exceeded asbestos-related expenses by $6 million for 1999 and $0.7 million in 1997 due primarily to nonrecurring reimbursement for amounts expended in prior years. However, U.S. Gypsum's total asbestos-related expenditures exceeded aggregate insurance payments by $24 million in 1998. Insolvent Carriers: Four of U.S. Gypsum's domestic insurance carriers, as well as underwriters of portions of various policies issued by Lloyds and other London market companies, providing a total of approximately $106 million of coverage, are insolvent. Because these policies would already have been consumed by U.S. Gypsum's asbestos expenses to date if the carriers had been solvent, the insolvencies will not adversely affect U.S. Gypsum's coverage for future asbestos-related costs. However, U.S. Gypsum is pursuing claims for reimbursement from the insolvent estates and other sources and expects to recover a presently indeterminable portion of the policy amounts from these sources.