Common use of Insurer Standards Clause in Contracts

Insurer Standards. Each insurance policy required under this Contract shall be issued by one or more insurers licensed to conduct business in the State of California and having an A.M. Best Company rating (i.e., Best’s Rating) of not less than an “A,” a “Ratings Outlook,” if assigned, of either stable or positive, and financial size category of not less than “X.” If a “Ratings Outlook” has been assigned to any such insurer that is not either stable or positive, then District may consider the insurer’s Ratings Outlook and all other relevant factors in determining whether the insurer is satisfactory, and, if District reasonably determines that there may be a significant risk in accepting an insurance policy issued by such insurer, then, upon request of District, Contractor shall obtain such insurance policy through another insurer that satisfies the standards set forth in this Section.

Insurer Standards. Each insurance policy required under this Contract shall be issued by one or more insurers licensed to conduct business in the State of California and having an A.M. Best Company rating (i.e., Best’s Rating) of not less than an “A,” a “Ratings Outlook,” if assigned, of either stable or positive, and financial size category of not less than “X.” If a “Ratings Outlook” has been assigned to any such insurer that is not either stable or positive, then District may consider the insurer’s Ratings Outlook and all other relevant factors in determining whether the insurer is satisfactory, and, if District reasonably determines determ xxxx that there may be a significant risk in accepting an insurance policy issued by such insurer, then, upon request of District, Contractor shall obtain such insurance policy through another insurer that satisfies the standards set forth in this Section.