Buffer and Deductible Clause Samples

The Buffer and Deductible clause defines the initial amount of loss or expense that must be absorbed by the insured before the insurance coverage begins to pay. In practice, the deductible is a fixed sum or percentage that the policyholder is responsible for in each claim, while a buffer may refer to an additional layer of self-insured retention before the insurer's obligation starts. This clause ensures that minor or frequent losses are managed by the insured, reducing the insurer's exposure to small claims and helping to control premium costs.
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Buffer and Deductible. Notwithstanding anything to the contrary contained in this Paragraph 16, no claim for indemnification hereunder shall be made by the Indemnitee against the Indemnitor with respect to a particular Hospital until the aggregate amount of Losses resulting from such claims by the Indemnitee against the Indemnitor with respect to such Hospital shall exceed $300,000 but thereafter Indemnitee shall be entitled to recovery of the full amount of all such Losses, including the first $300,000; provided, however, that individual claims of less than $10,000 shall not be aggregated for purposes of the foregoing $300,000 limitation. The provisions of this Paragraph 16.4 shall not apply to any claim based on the parties' obligations set forth in Para▇▇▇▇▇▇ ▇, ▇, ▇ ▇▇▇ ▇▇.
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Related to Buffer and Deductible

  • Insurance, Loss Deductible The Customer shall be exempt from, and in no way liable for, any sums of money which may represent a deductible in any insurance policy. The payment of such deductible shall be the sole responsibility of the Contractor providing such insurance. Upon request, the Contractor shall furnish the Customer an insurance certificate proving appropriate coverage is in full force and effect.

  • Deductible An annual deductible of fifty dollars ($50) per person and one hundred fifty dollars ($150) per family applies to State Dental Plan non-preventive services received from in-network providers. An annual deductible of one hundred twenty-five dollars ($125) per person applies to State Dental Plan services received from out of network providers. The deductible must be satisfied before coverage begins.

  • General Liability and Automobile Liability Coverages a. City, its officers, agents, employees, and volunteers are to be included as insureds as respects damages and defense arising from: activities performed by or on behalf of Contractor, including the insured's general supervision of Contractor; products and completed operations of Contractor; premises owned, occupied, or used by Contractor; or automobiles owned, leased, hired, or borrowed by the Contractor. The coverage shall contain no special limitations on the scope of protection afforded to City, its officers, employees, or volunteers. b. Contractor's insurance coverage shall be Primary insurance with respect to the City, its officers, agents, employees, and volunteers. Any insurance or self- insurance maintained by City, its officers, employees, or volunteers shall be excess of Contractor's insurance and shall not contribute with it in any way. c. Any failure to comply with reporting provisions of the policies shall not affect coverage provided to City, its officers, agents, employees, or volunteers. d. Contractor's insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability.

  • Commercial General Liability and Automobile Liability Coverages a. The City of San ▇▇▇▇, its officers, employees and agents are to be covered as additional insureds as respects: Liability arising out of activities performed by or on behalf of, CONSULTANT; products and completed operations of CONSULTANT; premises owned, leased or used by CONSULTANT; and automobiles owned, leased, hired or borrowed by CONSULTANT. The coverage shall contain no special limitations on the scope of protection afforded to CITY, its officers, employees, and agents. b. CONSULTANT's insurance coverage shall be primary insurance as respects CITY, its officers, employees, and agents. Any insurance or self-insurance maintained by CITY, its officers, employees, or agents shall be excess of CONSULTANT's insurance and shall not contribute with it. c. Any failure to comply with reporting provisions of the policies by CONSULTANT shall not affect coverage provided CITY, its officers, employees, or agents. d. Coverage shall state that CONSULTANT’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer’s liability. e. Coverage shall contain a waiver of subrogation in favor of the City, its officers, employees, and agents.

  • Excess/Umbrella Liability Excess/umbrella liability insurance may be included to meet minimum requirements. Umbrella coverage must indicate the existing underlying insurance coverage.