Statutory Liability definition

Statutory Liability means a pecuniary penalty awarded against You in and under any Federal, State or Territory laws of the Commonwealth of Australia for a
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Statutory Liability means any pecuniary penalty awarded in and under the laws of the jurisdictions of Australia, against You for any:
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Statutory Liability means pecuniary penalties awarded in and under the laws of the jurisdictions of Australia and New Zealand, against:
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Examples of Statutory Liability in a sentence

  • Pursuant to Section 17B:28-9(c) of the New Jersey Insurance Statutes, none of the assets allocated to the Separate Account, to the extent of the Statutory Liability, will be chargeable with liabilities arising out of any other business of Prudential.

  • Periodically, Prudential will compare (A) the Book Value of the assets allocated to the Separate Account, reduced by payables related to expenses and payables related to obligations of the contracts supported by the Separate Account, accrued on or prior to the date of determination, to (B) the Statutory Liability.

  • Periodically, Prudential will compare (A) the Book Value of the assets allocated to the Separate Account, reduced by payables related to expenses and payables related to obligations of the contracts supported by the Separate Account, accrued on or prior to the date of detennination, to (8) the Statutory Liability.

  • Concurrent with the commencement of Reinsurer's --------------- servicing of policies, Company shall deliver to Reinsurer all financial and accounting records pertaining to the Policies, in machine readable format, to include all information which Reinsurer will need to prepare and file all GAAP and statutory statements, to calculate Net Statutory Liability and Ceding Commission, and to administer the Policies.

  • Zeecol shall maintain in the name of [_____________] Dairies an insurance policy for Public liability and Statutory Liability cover from the same insurance company used by Pannets in the amount of $5,000,000 to cover public liability issues and statutory responsibilities associated with the operation of the plant.

  • Reinsurer will transfer back to the Company the Net Statutory Liability, less Ceding Commission applicable to such policy.

  • The parties recognize that calculation of the Net ---------- Statutory Liability and the Ceding Commission cannot be completed until after the Effective Date.


More Definitions of Statutory Liability

Statutory Liability. The sum of: (i) the Statutory Reserves and (ii) the Separate Account Interest Maintenance Reserve.
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Statutory Liability means pecuniary penalties awarded under the laws of the jurisdictions of Australia and New Zealand which Underwriters are permitted by law to pay and the Company is permitted by law to insure, awarded against:
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Related to Statutory Liability

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Liability means any liability (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Environmental Liabilities means all liabilities, monetary obligations, losses, damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required, by any Governmental Authority or any third party, and which relate to any Environmental Action.