Securities Coverage definition
Examples of Securities Coverage in a sentence
The Company shall be responsible for the cost of that portion of the Securities Coverage that covers Directors, officers and employees of the Company, including Group Individuals serving in any such capacity at the Company.
If the proposed Coverage Change would materially increase the cost of any BNPP D&O Programs including Securities Coverage (for claims other than those claims directly related to the IPO and covered under the BNPP IPO Program) or IPO Securities Coverage (as applicable), the Company shall have the right to participate with the BNPP Insured Group in negotiations with the insurance brokers and insurance companies with respect to such proposed increase.
ING Group shall reimburse the Company for the cost of that portion of the Securities Coverage covering ING Group, its respective Subsidiaries and their respective Directors, officers and employees.
The most DOAS will pay for any one covered loss “occurrence” under Money & Securities Coverage is the lesser of, the applicable Money & Securities Amount shown in the All Risk Certificate or $250,000.
Should a covered loss under Money & Securities Coverage, arising from a single loss “occurrence” exceeds $250,000, then the policy provisions contained in the commercial excess crime insurance policy purchased by DOAS will dictate any additional limits of coverage available at the time of loss.
If you have elected Money & Securities Coverage under an All Risk Certificate, DOAS will pay for loss of State-Owned Covered Property or Property you are legally liable for under a written Contract or Agreement, resulting directly from the Covered Causes of Loss shown below.
Discovery of loss occurs when you first become aware of facts which would cause a reasonable person to assume that a loss covered by Money & Securities Coverage has been or will be incurred, even though the exact amount or details of loss may not be known.