Conditional Receipt or Temporary Insurance Coverage Sample Clauses

Conditional Receipt or Temporary Insurance Coverage a. For Automatic Reinsurance, if the conditions for Automatic Reinsurance coverage under Article 3, “Automatic Reinsurance” of this Agreement are satisfied, the Reinsurer’s liability under the Company’s conditional receipt or temporary insurance agreement shall commence simultaneously with the Company's liability. b. For Facultative Reinsurance, the Reinsurer shall only be liable for benefits paid, pursuant to the terms and conditions of the Company's conditional receipt or temporary insurance agreement, if the Reinsurer or its facultative underwriting Designee has made a facultative offer and the offer is final and does not include any further underwriting action to be satisfied by the Company. c. For all Automatic and Facultative cases, the conditional receipt or temporary insurance liability applies only once on any given life regardless of how many receipts were issued or initial premiums were accepted by the Company. After a Policy has been issued, no reinsurance benefits are payable under this conditional receipt or temporary insurance provision. d. In the event that the Company’s rules with respect to cash handling and the issuance of conditional receipt or temporary insurance are not followed, the Reinsurer shall participate in the liability provided (a), (b), and (c) above are satisfied and the Company does not knowingly allow such rules to be violated or condone such a practice. e. For all Automatic and Facultative cases, reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer’s share of the conditional receipt or temporary insurance limits shown in Schedule B, as well as the Automatic Acceptance Limits. All provisions of Article 8, “Death Claims” apply to such a claim.
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Conditional Receipt or Temporary Insurance Coverage. The Reinsurer’s liability shall equal the Quota Share Percentage Reinsured of the amount stated in the Company’s Temporary Insurance Agreement (TIA). The Company’s maximum TIA liability is outlined in Schedule C, “Reinsurance Limits”. Once a TIA is completed and provided all the conditions are met, changes in insurability that post-date the TIA, while it is in effect, will be ignored for the lesser of the face amount or $1 million individual or $5 million survivorship.
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Conditional Receipt or Temporary Insurance Coverage. The Reinsurer will accept liability on the Company's Conditional Receipt or Temporary Insurance Coverage up to its share of the amount shown in Schedule A, provided that the Company follows its normal cash-with-application procedures for such coverages. All Conditional Receipt and Temporary Insurance Coverage forms in use by the Company, as well as any subsequent changes or modifications, must be approved in writing by the Reinsurer. The Reinsurer's liability will commence and end simultaneously with the Company's Conditional Receipt or Temporary Insurance Coverage liability.
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Related to Conditional Receipt or Temporary Insurance Coverage

  • Primary Insurance Contractor's insurance coverage shall be primary insurance with respect to the Department, its officers, officials, employees, and volunteers and shall apply separately to each project or location. Any insurance or self-insurance maintained by the Department, its officers, officials, employees, or volunteers shall be excess of Contractor's insurance and shall not contribute with it.

  • General liability insurance endorsement The following are required: (i) ADDITIONAL INSURED endorsement naming the District, its Board of Trustees, and their officials, employees, volunteers, and agents as additional insureds. (ii) CANCELLATION endorsement which provides that the District is entitled to 30 days prior written notice of cancellation or nonrenewal of the policy, or reduction in coverage, by certified mail, return receipt requested. (iii) CONTRIBUTION NOT REQUIRED endorsement which provides that the insurance afforded by the general liability policy is primary to any insurance or self-insurance of the District, its Board of Trustees, or their officials, employees, volunteers, or agents as respects operations of the Named Insured. Any insurance maintained by the District, its Board of trustees, or their officials, employees, volunteers, or agents shall be in excess of Contractor's insurance and shall not contribute to it. (iv) SEVERABILITY OF INTEREST endorsement which provides that Contractor's insurance shall apply separately to each insured against whom a claim is made or suit is brought, except with respect to the limits of the insurer's liability. (v) ADDITIONAL INSURED COVERAGE NOT AFFECTED BY INSURED'S DUTIES AFTER ACCIDENT OR LOSS endorsement. The policy must be endorsed to provide that any failure to comply with the reporting provisions of the policy shall not affect coverage to the District, its Board of Trustees, or their officials, employees, volunteers, or agents.

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • Umbrella/Excess Liability Insurance Umbrella or Excess Liability Insurance with limits not less than Two Million Dollars ($2,000,000.00) per occurrence, which will provide additional limits for employers’ general insurance and shall cover the Board and its employees, subject to that of the primary coverage.

  • Excess Liability Insurance $___________________ minimum required insurance policy for anything other than General Liability or Automobile coverage. ☐ - Additional Insurance Requirement: Client, Contractor, and any other entity which the Contractor is required to name as an additional insured under the Prime Contract shall be named as additional insureds under the General Liability Insurance required by this Section and any such insurance afforded to the additional insureds shall apply as primary insurance. Any other insurance maintained by the Client or Contractor shall be excess insurance and shall not be called upon to contribute to Subcontractor’s primary or excess insurance carrier’s duty to defend or indemnify unless required by law. The excess insurance required above shall also afford additional insured protection to Client and Contractor. This Section shall in no event be construed to require that additional insured insurance coverage be provided to a greater extent than permitted under the statutes or public policy governed under State law. Certificates of Insurance. Certificates of insurance, and the required additional insured and other endorsements, including waivers of subrogation shall be furnished to Contractor before the performance of any Services.