Self-insurance definition
Self-insurance means the licence holder's financial capacity to meet any liability to a third party in respect of which the licence holder does not otherwise have insurance.
Self-insurance means the Licensee's financial capacity to meet any liability to a third party in respect of which the Licensee does not otherwise have insurance.
Self-insurance means the SNRP holder's financial capacity to meet any liability to a third party in respect of which the SNRP holder does not otherwise have insurance.
Examples of Self-insurance in a sentence
The properties of each Loan Party and its Subsidiaries are insured with one or more Third Party Insurance Companies and/or pursuant to Permitted Self-Insurance, in compliance with the provisions of Section 6.07 and otherwise in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where such Loan Party or the applicable Subsidiary operates.
More Definitions of Self-insurance
Self-insurance means a formal program of advance funding and management of entity financial exposure to a risk of loss that is not transferred through the purchase of an insurance policy or contract.
Self-insurance means a formal program of advance funding and
Self-insurance means any arrangement under which a person provides for spreading its own risks by a systematic plan.
Self-insurance means the assumption or retention of the risk of loss by the contractor, whether voluntarily or involun- tarily. Self-insurance includes the deductible portion of pur- chased insurance.
Self-insurance has the meaning specified in Section 6.07(a).
Self-insurance means an arrangement under which a person provides for spreading its own risks by a systematic plan.
Self-insurance means deductibles, retrospective premiums, self-insured retentions or other forms of self-insurance, including related fees and expenses.