Insured Percentage definition
Examples of Insured Percentage in a sentence
Insured Percentage means the percentage of any Insured Debt for which this Policy provides an indemnity.
The Insurer will pay to the Insured the Insured Percentage of the Insured Loss within thirty (30) days of receipt of a Confirmation of Debt (for Insolvency claims) or the judgment (if applicable) of a court of competent jurisdiction (for Protracted Default claims), after deducting any interim payments, Recoveries and any applicable deductible, but the Insurer shall be entitled not to do this if the Insured has failed to comply with any provision of this Policy.
The amount shall not exceed the Insured Percentage of the Collection Costs and, if the total debts owed to the Insured by the Buyer exceed the Credit Limit, the amount of Collection Costs to which the Insured Percentage may be applied will be reduced in the proportion that the Insured Percentage of the Credit Limit bears to the total debts owed.
Where a Buyer is part of a Group, the Insurer’s liability for any Loss shall be limited to the Insured Percentage of the Credit Limit approved individually for each entity, up to but not exceeding the approved aggregated credit exposure limit for the Group.
The Insurer will pay the Insured Percentage of the Loss, up to the Credit Limit applicable for the Buyer on the date of Shipment, in respect of Losses in excess of the Deductible, subject to the Policy Limit of Liability and any applicable Country Limit of Liability, whichever is the lesser.