Insurer Approval Clause Samples
The Insurer Approval clause establishes that certain actions, decisions, or changes related to an insurance policy require the explicit consent of the insurer before proceeding. In practice, this may apply to situations such as modifying the terms of coverage, changing insured parties, or approving settlements related to claims. By requiring insurer approval, the clause ensures that the insurer maintains control over significant aspects of the policy, thereby managing risk and preventing unauthorized changes that could affect coverage or liability.
Insurer Approval. In the event that any Claim arising hereunder is, or could potentially be determined to be, an insured Claim, neither the Indemnified Party nor the Indemnitor, as the case may be, shall negotiate, settle, retain counsel to defend or defend any such Claim, without having first obtained the prior approval of the insurer(s) providing such insurance coverage.