Common use of Issuers of Policies Clause in Contracts

Issuers of Policies. The issuer of any policy must have a Certificate of Authority from the State Department of Insurance to conduct insurance business in Texas or a ratingof at least B+ and a financial size of Class VI or better according to the current year's Best's rating. Each issuer must be responsible and reputable, must have financial capability consistent with the risks covered, and shall be subject to approval by the Public Works Engineer in his or her sole discretion as to conformance with these requirements.

Issuers of Policies. The issuer of any policy must have a Certificate certificate of Authority from the State Department of Insurance authority to conduct transact insurance business in Texas or a ratingof at least B+ and a financial size the State of Class VI or better according to the current year's Best's ratingTexas. Each issuer must be responsible and responsible, reputable, must and have financial capability consistent with the risks covered, and . Each issuer shall be subject to approval by the Public Works Engineer City’s Risk Manager in his or her sole discretion as to conformance with these requirements.