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 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.

Examples of Noncontractual Damages in a sentence

  • 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.

  • Deliberateness and negligence are both defined in the Finnish Criminal Code and the concepts are used consistently throughout all legislation, including the Act of Non-contractual Damages.

  • 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.

  • S.2, article 1 of the Finnish Act of Non-contractual Damages ( Vahingonkorvauslaki) and s.3, article 6 and 7 of the Finnish Criminal Code (Rikoslaki) and s.21, article 14 of the same provide liability for deliberate and negligent conduct on the rescuer causing injury to the victim, and the breach of the duty to rescue punishable by a fine or imprisonment for maximum two years in prison.

  • The contractual approach (i.e. implied contracts) used by certain jurisdictions is not possible in Finland as the Act of Non-contractual Damages deals with the matter comprehensively.

  • 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 Non-contractual Damages (unofficial translations made by the author) section 2 article 1 states as follows.


More Definitions of Noncontractual Damages

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.
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.

Related to Noncontractual Damages

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

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • 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 claims, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim, including, without limitation, attorney’s fees, that are incurred at any time as a result of the existence of Environmental Conditions upon, about or beneath the Project Site or migrating or threatening to migrate to or from the Site, and including, without limitation:

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

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • 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 Shortfall, 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 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, 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 injury or damage to persons, living organisms or property (including offence to man’s senses) or any 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;

  • Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.

  • 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.