Noncontractual Damages definition

Noncontractual Damages shall have the meaning specified in Section 11.1.
Noncontractual Damages as used herein shall mean those liabilities arising from actual or alleged misconduct of the Company or of its Affiliates, or their agents, brokers, or representatives (other than the Reinsurer) in their handling of claims or losses, or in any of their dealings with their insureds or any other person. Such liabilities shall include, but are not limited to, punitive, exemplary, compensatory, and consequential damages. Such misconduct shall include, but is not limited to, failure to settle within the policy limit, 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 or in the preparation or prosecution of any appeal consequent upon any action. Notwithstanding the foregoing, Noncontractual Damages shall not include, and this Agreement shall cover, any and all amounts otherwise included in the definition of Ultimate Net Loss that the Company actually pays or is obligated to pay to ceding companies under Reinsured Contracts that are agreements of assumed reinsurance, whether under the terms of such Reinsured Contracts or as a result of agreements between the Company and cedents as to the settlement of specific claims.
Noncontractual Damages as used herein with respect to Part B Covered Losses means those liabilities of the Company or its affiliates, or their agents, brokers, or representatives arising from actual or alleged misconduct in their handling of claims or losses on Part B Business Covered. Such liabilities shall include, but are not limited to, punitive, exemplary, compensatory, and consequential damages. "Noncontractual Damages" as used herein with respect to Part C Covered Losses means those liabilities of the Company or its affiliates, or their agents, brokers, or representatives arising from actual or alleged misconduct in their handling of the benefits agreed to be provided by the Company pursuant to the Settlement Order. Such liabilities shall include, but are not limited to, punitive, exemplary, compensatory, and consequential damages.

Examples of Noncontractual Damages in a sentence

  • Notwithstanding the foregoing, Noncontractual Damages shall not include, and this Agreement shall cover, any and all amounts otherwise included in the definition of Ultimate Net Loss that the Company actually pays or is obligated to pay to ceding companies under Reinsured Contracts that are agreements of assumed reinsurance, whether under the terms of such Reinsured Contracts or as a result of agreements between the Company and cedents as to the settlement of specific claims.

  • Noncontractual Damages shall also include, and this Agreement shall cover, any and all amounts otherwise included in the definition of Ultimate Net Loss that the Reinsured actually pays or is obligated to pay to ceding companies under Business Covered that are agreements of assumed reinsurance, whether under the terms of such reinsurance contracts or as a result of agreements between the Reinsured and cedents as to the settlement of specific claims.

  • The first is the Finnish Act of Non-contractual Damages (Vahingonkorvauslaki) and the second is the provisions of the Finnish Criminal Code (Rikoslaki).The Finnish Act of Noncontractual Damages (unofficial translations made by the author) section 2 article 1 states as follows.

  • Ultimate Net Loss shall include Declaratory Judgment Expense and Noncontractual Damages, but shall exclude all unallocated loss adjustment expenses incurred pursuant to the Administrative Services Agreement.

  • Furthermore, the Reinsurer shall not share in that part of any expense which constitutes Noncontractual Damages or Amounts or Extracontractual Damages or Amounts.

  • NONCONTRACTUAL DAMAGES: Noncontractual Damages as used herein shall mean those liabilities of the Company or its affiliates, or their agents, brokers, or representatives, arising from actual or alleged misconduct in their handling of claims or losses, or in any of their dealings with their insureds or any other person.

  • Furthermore, the Reinsurer shall not share in that part of any expense which constitutes Noncontractual Damages or Amounts or Extra contractual Damages or Amounts.


More Definitions of Noncontractual Damages

Noncontractual Damages as used herein with respect to Part C Covered Losses means those liabilities of the Company or its affiliates, or their agents, brokers, or representatives arising from actual or alleged misconduct in their handling of the benefits agreed to be provided by the Company pursuant to the Settlement Order. Such liabilities shall include, but are not limited to, punitive, exemplary, compensatory, and consequential damages.
Noncontractual Damages as used herein shall mean those liabilities for which the Reinsured or any CGU Insurer is legally liable arising from actual or alleged misconduct of the Reinsured, any CGU Insurer or any of their affiliates, or their agents, brokers, or representatives (other than the Reinsurer acting on behalf of the Reinsured pursuant to the Administrative Services Agreement, which liability shall be indemnified pursuant to such Agreement) in their handling of claims or losses, or in any of their dealings with their insureds or any other person. Such liabilities shall include, but are not limited to, punitive, exemplary, compensatory, and consequential damages. Such misconduct shall include, but is not limited to, failure to settle within the policy limit, 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 or in the preparation or prosecution of any appeal consequent upon any action. Noncontractual Damages shall also include, and this Agreement shall cover, any and all amounts otherwise included in the definition of Ultimate Net Loss that the Reinsured actually pays or is obligated to pay to ceding companies under Business Covered that are agreements of assumed reinsurance, whether under the terms of such reinsurance contracts or as a result of agreements between the Reinsured and cedents as to the settlement of specific claims.

Related to Noncontractual Damages

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • Special Damages has the meaning specified in Section 11.21.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Environmental Damages means all liabilities (including strict liability), losses, damages (excluding consequential, special, exemplary or punitive damages except to the extent such damages were imposed upon an Indemnitee as a result of any claims made against such Indemnitee by a governmental entity or any other third party), judgments, penalties, fines, costs and expenses (including fees, costs and expenses of attorneys, consultants, contractors, experts and laboratories), of any and every kind or character, at law or in equity, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable, made, incurred, suffered, brought, or imposed at any time and from time to time, whether before or after the Release Date and arising in whole or in part from:

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Noneconomic damages ’ means damages for phys-

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • Cover Damages means, with respect to any Delivery Failure, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 hereof, multiplied by the quantity of that Delivery Failure, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Damages means any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney's fees and disbursements and costs and expenses of expert witnesses and investigation).

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • 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.

  • Breach of Contract means the failure of a Party to perform any of its obligations in accordance with this Contract, in whole or in part or in a timely or satisfactory manner. The institution of proceedings under any bankruptcy, insolvency, reorganization or similar law, by or against Contractor, or the appointment of a receiver or similar officer for Contractor or any of its property, which is not vacated or fully stayed within 30 days after the institution of such proceeding, shall also constitute a breach. If Contractor is debarred or suspended under §24-109-105, C.R.S. at any time during the term of this Contract, then such debarment or suspension shall constitute a breach.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Buyer Losses shall have the meaning set forth in Section 11.1 hereof;