Insured Entity definition
Examples of Insured Entity in a sentence
The Insurer shall pay on behalf of an Insured Entity that Loss, in excess of the retention (if any) and up to the applicable limit of liability, for which such Insured Entity has indemnified an Insured Person and which results from any Claim first made against such Insured Person during the Policy Period or the Extended Reporting Period, if applicable, for a Wrongful Act.
The bankruptcy or insolvency of any Insured Entity or any Insured Person shall not relieve the Insurer of any of its obligations to prioritize payment of covered Loss under this Coverage Part pursuant to this Section.
The Insurer shall pay on behalf of the Insured Persons (including Outside Entity Executives) that Loss up to the applicable limit of liability, resulting from any Claim first made against them during the Policy Period or the Extended Reporting Period, if applicable, for a Wrongful Act, except and to the extent that the Insured Entity has indemnified them for such Loss.
The Corporation shall ensure that its Directors’, Officers’, Insured Entity and Employment Practices Liability Insurance policy (“D&O Policy”) shall cover Executive as an Insured Person, as such term is defined in the D&O Policy.
The Insurer shall reimburse the Insured, subject to the maximum aggregate Limit of Liability, up to $250,000.00 for all Investigative Costs arising out of all Shareholder Demands first made against an Insured Entity during the Policy Period or the Extended Reporting Period (if applicable).