Losses in Excess of Policy Limits definition

Losses in Excess of Policy Limits means one hundred percent (100%) of damages payable in excess of the policy limit as a result of alleged or actual negligence, fraud, or bad faith in failing to settle and/or rejecting a settlement within the policy limit, in the preparation of the defense, in the trial of any action against the insured or reinsured, or in the preparation or prosecution of an appeal consequent upon such action. Losses in Excess of Policy Limits includes any amount that the Retrocedent would have been contractually liable to pay had it not been for the limits of a policy.
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Losses in Excess of Policy Limits means, solely for the purposes of calculating the Ceding Insurer’s Ultimate Net Loss, 100% of any amount paid or payable by the Ceding Insurer in excess of its policy limits, but otherwise within the terms of its policy, such loss in excess of the Ceding Insurer’s policy limits having been incurred because of, but not limited to, failure by the Ceding Insurer to settle within the policy limits or by reason of the Ceding Insurer’s alleged or actual negligence, fraud (except by an officer or director of the Ceding Insurer as herein after provided) or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action. A Loss in Excess of Policy Limits shall be deemed, in all circumstances, to have occurred on the same date as the loss covered or alleged to be covered under the policy. Notwithstanding anything stated herein, Loss in Excess of Policy Limits shall not include Loss in Excess of Policy Limits incurred by the Ceding Insurer as a result of any fraudulent and/or criminal act by any officer or director of the Ceding Insurer acting individually or collectively or in collusion with any individual or corporation or any other organization or party involved in the presentation, defense or settlement of any claim covered hereunder.
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Losses in Excess of Policy Limits shall have the meaning set forth in Article XII hereof.
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Examples of Losses in Excess of Policy Limits in a sentence

  • Based on response rates to prior waves without advance letters, the number of alumni sampled was set at 15,100, which was estimated to be sufficient to yield 1,000 completed surveys.

  • Extra Contractual Obligations and Losses in Excess of Policy Limits as per attached Exclusion Clause.

  • Notwithstanding the provisions of the article entitled MANAGEMENT OF CLAIMS AND LOSSES, this term shall also include 100% of Losses in Excess of Policy Limits and 100% of Extra Contractual Obligations within the constraints of the Loss Limitation.

  • Extra Contractual Obligations and Losses in Excess of Policy Limits.

  • Notwithstanding the provisions of the article entitled MANAGEMENT OF CLAIMS AND LOSSES, this term shall also include 100% of Losses in Excess of Policy Limits and 80% of Extra Contractual Obligations.

  • The Maximum Amount any One Life can contribute to Net Loss from any one Loss Occurrence under this Contract shall be fifteen million dollars ($15,000,000), including any Extra-Contractual Obligations and Losses in Excess of Policy Limits, as defined in the Article entitled EXTRA-CONTRACTUAL OBLIGATIONS AND LOSSES IN EXCESS OF POLICY LIMITS.

  • B Earliest Date the Lender Can File to Liquidate Security The lender may not initiate foreclosure action on the loan until 60 calendar days after eligibility of the borrower to participate in the IA Program has been established by FSA.

  • The difference of 7 square feet with regard to a tract of 201,822 square feet is, to put it mildly, de minimis.

  • This term shall mean expenditures by the Company within the terms of its policies in the direct defense of claims and in connection with Losses in Excess of Policy Limits and in connection with Extra Contractual Obligations and as allocated to an individual claim or 3.

  • High Threat Extraction: The candidate will received both PowerPoint lecture and hands-on training with non-linear extraction principles.


More Definitions of Losses in Excess of Policy Limits

Losses in Excess of Policy Limits means any losses in excess of the Ceding Company’s original policy limit incurred because of the failure to settle within the policy limit or by reason of alleged or actual negligence, coverage denial, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against the insured, or in the preparation or prosecution of an appeal consequent upon such action.
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Losses in Excess of Policy Limits means those losses of the Company or its reassured in excess of the limit of any contract of insurance or reinsurance reinsured hereunder, such loss in excess of the limit having been incurred because of failure by the Company or its reinsured to settle within the policy limit or by reason of alleged or actual negligence, fraud, or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. No inference shall be drawn from the foregoing exclusion of liabilities that this Contract or any portion of this Contract otherwise covers such liabilities in the absence of said exclusion. It is understood that Exclusion B. shall not apply when such hazards are incidental to and form a minor part of the usual operations of the insured. These Exclusions, other than M., N., O. and P. shall also not apply in the event of the Company being interested without its knowledge on an PAGE excluded risk, either by an existing insured extending its operations or by an inadvertent acceptance by an agent or otherwise; this Contract shall attach in respect of such prohibited risk, but only until discovery by the Management of the Home Office and then only for thirty (30) days thereafter.
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Losses in Excess of Policy Limits means, with respect to the computation of Ultimate Net Loss, those losses of the Ceding Insurer, or of its insured or reinsured, in excess of the limit of any contract of insurance or reinsurance from a Earthquake Event, provided that such excess loss was not incurred as a result of alleged or actual negligence, fraud, or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against an insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. ‘‘Material Adverse Effect’’ means a material adverse effect on (i) the business, operations, properties, assets, or financial condition of the Reinsurer; (ii) the ability of the Reinsurer to fully and timely perform its Obligations or to obtain full and timely performance by the Ceding Insurer or the Swap Counterparty of its obligations under any Basic Document; (iii) the legality, validity, binding effect or enforceability against the Reinsurer, the Ceding Insurer or the Swap Counterparty of a Basic Document to which it is a party; or (iv) the rights and remedies of the Indenture Trustee and any Noteholder under any Basic Document or of the Reinsurer under any Basic Document.
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Losses in Excess of Policy Limits means those losses of the Reassured in excess of the limit of any policy of insurance reinsured hereunder, such loss in excess of the limit having been incurred because of failure by the Reassured to settle within the policy limit or by reason of alleged or actual negligence, fraud, or bad faith in rejecting an offer or settlement or in the preparation of the defense or in the trial of any action against its assured or in the preparation or prosecution of an appeal consequent upon such action. No inference shall be drawn from the foregoing exclusion of liabilities that this Contract or any portion of this Contract otherwise covers such liabilities in the absence of said exclusion.
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Losses in Excess of Policy Limits means any amount of loss together with any legal costs and expenses incurred in connection therewith, paid or payable by the Company in excess of its policy limits, but otherwise within the coverage terms of the policy, as a result of an action against it by its insured or its insured’s assignee to recover damages the insured is legally obligated to pay to a third party claimant because of the Company’s alleged or actual negligence or bad faith in rejecting a settlement within the policy limits, or in discharging its duty to defend or prepare the defense in the trial of an action against its insured, or in discharging its duty to prepare or prosecute an appeal consequent upon such action.
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Related to Losses in Excess of Policy Limits

  • Loss in excess of policy limits means 90.0% of any amount paid or payable by the Company in excess of its policy limits, but otherwise within the terms of its policy, such loss in excess of the Company’s policy limits having been incurred because of, but not limited to, failure by the Company to settle within the policy limits or by reason of the Company’s alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Losses shall have the meaning set forth in Section 5(a).

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • Seller Losses shall have the meaning set forth in Section 9.1(b).

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Aggregate Limit shall have the meaning assigned to such term in Section 1.1 hereof.

  • Fraud Coverage During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.

  • Buyer Losses shall have the meaning set forth in Section 8.2.

  • Compensable injury means an injury by accident arising out of and in the course of hazardous employment which must be established by medical evidence supported by objective medical findings.

  • Relevant Losses means, in relation to:

  • Insured Amounts means, with respect to any Distribution Date, the Deficiency Amount for such Distribution Date.

  • REASONABLY SAFE FROM FLOODING Means base flood waters will not inundate the land or damage structures to be removed from the floodplain and that any subsurface waters related to the base flood will not damage existing or proposed buildings.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • Electrical Losses means all applicable losses, including the following: (a) any transmission or transformation losses between the CAISO revenue meter(s) and the Delivery Point; and

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Environmental Losses means all costs and expenses of any kind, damages, including foreseeable and unforeseeable consequential damages, fines and penalties incurred in connection with any violation of and compliance with Environmental Requirements and all losses of any kind attributable to the diminution of value, loss of use or adverse effects on marketability or use of any portion of the Premises or Property.

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Catastrophic illness or injury means one of the following:

  • Losses incurred means ceded losses and Loss Adjustment Expense paid as of the effective date of calculation, plus the ceded reserves for losses and Loss Adjustment Expense outstanding as of the same date.

  • Deductible has the meaning set forth in Section 11.1(e).