Examples of Required Policy in a sentence
With respect to cancellation and non-renewal, Required Policy Period means a period of three years from the date the policy is first issued or voluntarily renewed.
The New York Insurance Law requires that we continue your coverage during the Required Policy Period which is a period of three years from the date the policy is first issued or voluntarily renewed.
If Lessee fails to do so, such failure may be treated by Lessor as a default by Xxxxxx and Lessor, in addition to any other remedy under this Agreement, may purchase and maintain such Required Policy and Lessee must immediately reimburse Lessor for any premiums paid or costs incurred by Lessor in providing such insurance.
Lessee INDEMNIFIES, DEFENDS, and HOLDS HARMLESS Lessor from any loss it may suffer due to Xxxxxx's failure to comply with all the above insurance requirements, including the requirement for obtaining waivers of subrogation, and due to any insurance coverage being invalidated because of Lessee's failure to comply with the terms, conditions and warranties of any Required Policy.
Each Required Policy must be written by a company satisfactory to Lessor, but in all events by a company with an A.M. Best Company financial rating of not less than A XII (or a similar rating by a comparable service selected by Lessor should A.M. Best Company cease providing such ratings) and be licensed to do business in Texas or, if the aforesaid is not available, by a company qualified to do business as a non- admitted insurer in Texas under current Texas surplus lines requirements.
Xx. Xxxxxx advised that a recent VSBA weekly update included a new Required Policy (D7 – Special Education).
Thank you, Xxxxx Xxxxx Exhibit B Insurance Requirements Specific Insurance Requirements and Required Policy Limits PROFESSIONAL SERVICES CONTRACTS: Including, but not limited to architects, engineers, consultants, counselors, attorneys and accountants.
Each Required Policy must be endorsed to require, that the insurer notify the District not less than thirty days prior to any cancellation, termination, reduction in coverage, or expiration without renewal of the Required Policy, except for cancellation due to non-payment of premium, in which case the insurer must provide such notice not less than ten days prior to cancellation.
No Required Policy may include an endorsement restricting, limiting, or excluding coverage in any manner without the prior written consent of Lessor.
Lessee must deliver to Lessor a certificate of insurance and copies of any additional insured, loss payee, and waiver of subrogation endorsements for any Required Policy no later than the Effective Date.