Required Insurer Attributes Sample Clauses

The Required Insurer Attributes clause defines the minimum standards and qualifications that an insurance provider must meet to be acceptable under the contract. Typically, this includes requirements such as a specific financial strength rating from recognized agencies, licensing to operate in relevant jurisdictions, and a proven track record of claims payment. By setting these criteria, the clause ensures that only reputable and financially stable insurers are used, thereby reducing the risk of inadequate coverage or insurer default.
Required Insurer Attributes. All Policies must be issued by Insurers satisfying the following requirements: (i) Insurers shall have a minimum AM Best rating of A minus. (ii) Each Insurer must be an authorized insurer in accordance with Section 107(a) of the New York State Insurance Law. (iii) Insurers must be admitted in the State; provided, however, that if an Insured requests the Agency to accept a non-admitted Insurer, and if the Agency reasonably determines that for the kind of operations performed by the Insured an admitted Insurer is commercially unavailable to issue a Policy or is non-existent, then the Agency shall provide its written consent to a non-admitted Insurer. For purposes of this paragraph, an “admitted” Insurer means that the Insurer’s rates and forms have been approved by the State Department of Financial Services and that the Insurer’s obligations are entitled to be insured by the State’s insurance guaranty fund.
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Required Insurer Attributes. The CGL policy must be issued by an insurer satisfying the following requirements: (i) the insurer must have a minimum AM Best rating of A minus; and (ii) the insurer must be an authorized insurer in accordance with Section 107(a) of the New York State Insurance Law.
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Related to Required Insurer Attributes

  • Required Insurance Contractor, at its expense, shall maintain in full force and effect the insurance coverages set forth in Exhibit C – Insurance Requirements. All costs for insurance, including any payments of deductible amounts, shall be considered incidental to and included in the prices for Services and no additional payment shall be made to Contractor.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • Group Dental Insurance Not available to part-time Cabin Servicing & Cleaning Attendants. Group insurance coverage for temporary full-time employees will be in accordance with ▇▇▇ #1. Such benefits, once established, are retained even if an employee's status reverts back to part-time, providing that employment has been continuous.