Common use of General Requirements for Insurance Coverage and Policies Clause in Contracts

General Requirements for Insurance Coverage and Policies. Policies of insurance required under this Section 26 shall be provided by companies that may lawfully issue such policy and have an A.M. Best rating of at least A- / “VII”, a Standard & Poor’s rating of at least A, a ▇▇▇▇▇’▇ Investors Service rating of A3, or a Fitch’s Ratings rating of A-, or a similar rating by any other nationally recognized statistical rating organization acceptable to the Law Department, unless prior written approval is obtained from the New York City Law Department.

General Requirements for Insurance Coverage and Policies. Policies of insurance required under this Section 26 shall be provided by companies that may lawfully issue such policy and have an A.M. Best rating of at least A- / “VII”, a Standard & Poor’s rating of at least A, a ▇▇▇▇▇’▇ Investors Service rating of A3, or a Fitch’s Ratings rating of A-, or a similar rating by any other nationally recognized statistical rating organization acceptable to the Law Department, unless prior written approval is obtained from the New York City Law Department.