Self-insured retention definition

Self-insured retention means the individual own risk employer's or group self-insurance association's retained amount of risk under a specific excess insurance policy, before the liability is transferred to an insurance carrier.

Self-insured retention means the dollar amount listed in Item 5. of the Declarations that will be paid by the "Insured" before this insurance becomes applicable, with respect to "occurrences" or offenses not covered by "underlying insurance." The "Self-Insured Retention" does not apply to "occurrences" or offenses which would have been covered by "underlying insurance" but for the exhaustion of applicable limits of the "underlying insurance."

Self-insured retention means that portion of a loss resulting from an occurrence experienced by a member which is retained as a liability or potential liability of the member and is not subject to payment by the Authority.

Examples of Self-insured retention in a sentence

• Major Professional Liability Limit per Year 2,000,000 Major Retro Date is Known for Claims Made Policies Major AM Best Rating A (Excellent) Major 30 Day NOC Major Primary & Non-Contributory Major Self-Insured Retention Declared & Approved Major officers, directors & employ additional insured.

• Major Umbrella Limit per Occurrence 3,000,000 Major Additional Insured Major Waiver of Subrogation Major AM Best Rating A- (Excellent) Major 30 Day NOC Major Exhibit A Page 2 Coverage Requirement Details Importance Self-Insured Retention Declared & Approved Major Primary & Non-Contributory Major officers, directors & employ Major additional insured.

• Major General Liability Limit per Occurrence 1,000,000 Major Aggregate Limit 2,000,000 Major Personal & Advertising Injury Limit 1,000,000 Major Products & Completed Operations Limit 2,000,000 Major AM Best Rating A (Excellent) Major 30 Day NOC Major Primary & Non-Contributory Major Additional Insured Major Waiver of Subrogation Major Self-Insured Retention Declared & Approved Major officers, directors & employ additional insured.

• Major Workers Compensation Employers Liability Limit 1,000,000 Major Self-Insured Retention Declared & Approved Major Limit Meets WC Statutory Minimum Major Additional Insured Major Waiver of Subrogation Major Primary & Non-Contributory Major Project number and name/description must be included.

• Major Additional Insured - CA 2048 Major AM Best Rating A- (Excellent) Major 30 Day NOC Major Primary & Non-Contributory Major Additional Insured Major Waiver of Subrogation Major Self-Insured Retention Declared & Approved Major officers, directors & employ additional insured.

More Definitions of Self-insured retention

Self-insured retention means the portion of a claim paid by insureds who self-insure a portion of their risk as part of a policy issued by the board. Expenses included as a part of the self-insured retention are the cost of claims settlements or suits, the cost of adjusting, legal fees, court costs and any other investigative cost associated with the claim.

Self-insured retention means that portion of a loss resulting from an occurrence experienced by a member which is retained as a liability or potential liability of the member and is not subject to payment by PRISM.

Self-insured retention or “SIR” shall mean the amount of loss from each

Self-insured retention or “SIR” shall mean the amount of loss from each occurrence which the Member Entity shall retain and pay directly and which shall not be shared by the Member Entities of PARSAC.

Self-insured retention means the amount, including “loss adjustment expense”, for which the Named Insured is responsible to pay for each “occurrence” or offense, irrespective of the number of claims which may be joined in to any one “suit” or claim.

Self-insured retention means the largest applicable dollar amount among triggered coverage parts identified in Item 4. of the Declarations to this Policy, or as otherwise designated by endorsement to this Policy, if any.

Self-insured retention means that portion of a Loss experienced by a Member which is retained as a liability or potential liability of NPAIP.