Noncontractual Damages definition

Noncontractual Damages shall have the meaning specified in Section 11.1.

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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

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.
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 Extra contractual 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 Extracontractual Damages or Amounts.

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.