Insurance Settlements Sample Clauses

Insurance Settlements. 44 H. Bar Date Motions...... 45 Estimation Procedures/Scientific Advisory Panel I. Motions............... 46
Sample 1
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Insurance Settlements. DCC is an insured under a number of insurance policies that DCC contends entitle it, inter alia, to reimbursement of certain costs incurred in connection with the Products Liability Claims. Among such policies are primary liability insurance policies ("PRIMARY POLICIES") and excess insurance policies ("EXCESS POLICIES"). DCC and its officers, directors, subsidiaries and its Shareholders (in limited instances) are the insureds under the Primary Policies. The majority of the Excess Policies insure these and other parties, including Dow Chemical and various of its subsidiaries and related companies. As described in section 3.4(B) herein, DCC was involved in pre-petition litigation with many of the Insurance Companies related to insurance coverage for Breast Implant Claims. Trial in the Michigan Action was scheduled, prior to the Petition Date, to commence on September 18, 1995. As the trial date approached, settlement discussions Page 44 AMENDED JOINT DISCLOSURE STATEMENT WITH RESPECT TO AMENDED JOINT PLAN OF REORGANIZATION OF DOW CORNING CORPORATION accelerated. Shortly after the Petition Date, DCC was able to conclude settlements with Hartford Accident and Indemnity Company and various related insurers (collectively, "HARTFORD") and Royal Indemnity Company ("ROYAL") based upon substantial settlement discussions with those parties that had occurred before the Petition Date. In August, 1995, the Court approved the compromises and settlements with Hartford and Royal. The Tort Committee, Dow Chemical and Hoechst Xxxxxx Xxxxxxx, Inc. ("HMR"), a former affiliate of Dow Chemical, and certain other parties objected to the Hartford settlement. Dow Chemical and HMR objected to the Royal settlement. The settlement with Hartford provides for cash payments by Hartford of $107.5 million in exchange for releases of the majority of the products liability limits of the Hartford policies, a so-called "buy-out" settlement. The Royal settlement provides that Royal pay covered amounts associated with Breast Implant Claims pursuant to agreed policy interpretations and mechanisms, a so-called "coverage-in-place" settlement. Before the trial in the Michigan Action started, DCC reached additional agreements with some Insurance Companies for buy-out settlements that will produce approximately $266.5 million in settlement proceeds. These settlements include agreements with, among others, DCC's London Market Insurers, TIG Insurance Company, North River Insurance Company and Federal In...
Sample 1
Insurance Settlements. None of the Loan Parties, nor any of their Subsidiaries, shall enter into any settlement exceeding $500,000 in respect of an individual claim with any of their insurance carriers without the prior written consent of the Origination Agent.”
Sample 1
Insurance Settlements. Any to the by any insurance company related to the Brokers vehicle shall by this Agreement directly assigned to the Company and the shall release any interest in such operation if required to do so by the Company. Any payments made under any insurance policy may be used by the Company in reduction of any monies owed by the Broker under this Company undertakes to pay to the Broker the remainder of any monies received with regard to damage to the Brokers vehicle or while registered in Company name forthwith.
Sample 1

Related to Insurance Settlements

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

  • FIRE INSURANCE The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Reinsurance Agreements In consideration of the premium stated herein, the Underwriter does hereby agree with the Named Insured to reinsure the Named Insured's insurance policies which provide coverage to the Assured, to the extent hereinafter set forth:

  • Earthquake Insurance If Lessor desires to obtain some form of earthquake insurance in the future, if and when available, on terms acceptable to Lessor as determined in the sole and absolute discretion of Lessor, then as a condition of Lessor agreeing to waive the requirement for earthquake insurance, Lessee agrees that it will pay, as additional Rent, which shall be included in the monthly CAC, an amount not to exceed Forty Seven Thousand Eight Hundred and Thirty Three Dollars ($47,833) per year.

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • Insurance Companies Insurance required hereunder shall be in companies duly licensed to transact business in the State of Washington, and maintaining during the policy term a General Policyholders Rating of ‘A-’ or better and a financial rating of ‘IX’ or better, as set forth in the most current issue of “Best’s Insurance Guide.”

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