Aggregate insurance clause
WebSubject to clause 9.1, each Party ’s aggregate liability under or in connection with this Agreement, whether in contract, tort ( including negligence ), breach of statutory duty, indemnity or otherwise, in respect of each Liability Period shall not exceed the amount of the Charges paid or payable between the Parties in respect of that Liability … Weboperations insurance, with limits of at least $100,000 per occurrence, $300,000 aggregate limit for bodily injury, and property damage insurance with limits of at least $25,000 or a …
Aggregate insurance clause
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WebSep 10, 2013 · 1. A drop down clause provides coverage that “drops down” and acts as primary coverage in certain situations. These include when the primary insurer is insolvent or the underlying policy aggregate limits have been exhausted. 2. A drop down clause covering insolvency will only be effective if the policy says so. WebJan 25, 2024 · An aggregate limit is a maximum amount an insurer will reimburse a policyholder for all covered losses during a set time period, usually one year. Insurance policies typically set caps on both... Aggregate stop-loss insurance is a policy designed to limit claim coverage (losse…
WebAs discussed in our aggregate extension clause feature ( here ), policies covering on an aggregate basis are designed to insure principally against the risk that the frequency of … WebFeb 27, 2024 · 9. Aggregate Limits . Hull insurance (whether the primary or contingent/possessed policy) may be subject to an aggregate limit per policy year for all claims. This limit applies to all aircraft, i.e., not per lessor. If the limit is exceeded, the loss is uninsured. It is untested how the available insurance proceeds would need to be shared ...
Webamount of insurance the contract requires the vendor to carry. Even as vendors are increasingly looking to add this clause to contracts – and may even represent the clause as an “industry standard” – that does not mean that the amount of the vendor’s financial exposure is an industry standard. The second is a clause that limits WebJun 1, 2009 · The aggregate extension clause enables the original insurer to pass on those liabilities, in the aggregate, to the reinsurer. It carries through into the reinsurance policy the same principle of aggregation as exists in the original policy which has been written ‘on an aggregate basis’.
WebJun 21, 2024 · Legal text for SACC item The Contractor must obtain Commercial General Liability Insurance, and maintain it in force throughout the duration of the Contract, in an amount usual for a contract of this nature, but for not less than $2,000,000 per accident or occurrence and in the annual aggregate.
WebMay 15, 2007 · When the insured is liable, we pay for bodily injury or property damage or the cost of the cleanup and removal caused by the actual discharge, dispersal, release or … the safe driving scholarship 2022WebThis is an insurance coverage dispute relating to a marine cargo policy issued by Underwriters to CENA, with an effective policy term of December 31, 2016, through March 5, 2024 (Policy B0799MC036620J) (the “Policy”). ... aggregate. * * * Labels Clause: (a) In case of damage effecting labels, capsules or wrappers, the the safe fair food companyWebaggregate Purpose. aggregate solves insurance, risk management, and actuarial problems using realistic models that reflect underlying frequency and severity. It delivers the speed and accuracy of parametric distributions to situations that usually require simulation, making it as easy to work with an aggregate (compound) probability distribution as the … trade stock at charles schwab