INSURING AGREEMENTS Clause Samples
The Insuring Agreements clause defines the specific coverage provided by an insurance policy, outlining the types of risks or losses the insurer agrees to cover. It typically details the scope of protection, such as property damage, liability, or personal injury, and may specify conditions or events that trigger coverage. By clearly stating what is insured and under what circumstances, this clause ensures both parties understand the extent of coverage, thereby reducing ambiguity and potential disputes over claims.
POPULAR SAMPLE Copied 1 times
INSURING AGREEMENTS. COVERAGE A - Bodily Injury and Personal Injury Liability To pay on behalf of the Insured all sums which the Insured shall become legally obligated to pay (including liability assumed by the Ins ured under an Insured Contract as defined herein) as compensatory damages because of Bodily Injury or Personal Injury which arises out of the Insured’s operations in connection with the Insured Project. Such Bodily Injury or Personal Injury must be as a result of an Occurrence. COVERAGE B - Property Damage Liability To pay on behalf of the Insured all sums which the Insured shall become legally obligated to pay (including liability assumed by the Insured under an Insured Contract as defined herein) as compensatory damages because of Property Damage which arises out of the Insured’s operations in connection with the Insured Project. Such Property Damage must be as a result of an Occurrence
INSURING AGREEMENTS. Solely with respect to Claims first made against an Insured during the Policy Period or the Discovery Period (if applicable) and reported to the Insurer pursuant to the terms of this policy, and subject to the other terms, conditions and limitations of this policy, this policy affords the following coverage:
INSURING AGREEMENTS. In consideration of the premium stated herein, the Underwriter does hereby agree with the Assured:
INSURING AGREEMENTS. A. Information Security & Privacy Liability
INSURING AGREEMENTS. It is agreed that coverage is provided for the car(s) listed on the Declarations Page in which Side Hustle - Auto Coverage is shown as “Included”. Side Hustle - Auto Coverage only applies to part- time employment. We will provide the following coverages:
INSURING AGREEMENTS. Loss inside the “Premises”
INSURING AGREEMENTS. The Insurer, in consideration of the payment of the premium, in reliance upon the statements on the Declarations Page made a part of this Insurance Policy and subject to all terms, conditions, warranties, limitations and exclusions of this Insurance Policy and the riders and endorsements attached, agrees with the Insured as follows:
INSURING AGREEMENTS. (A) Insured Person Non-Indemnified Loss Coverage:
INSURING AGREEMENTS. SIDE A EXCESS DIFFERENCE-IN-CONDITIONS (DIC)—Unlike standard Side A agreements, Side A DIC sits on top of a traditional D&O policy, effectively providing a broader coverage with separate limits for directors and officers. This fills the following gaps: • Side A DIC coverage provides excess insurance that kicks in once a company’s traditional D&O policy is exhausted. • Side A DIC coverage provides protection when an underlying insurer fails or refuses to pay, attempts to rescind coverage or becomes insolvent. • Side A DIC coverage is not typically subject to the exclusions found in traditional D&O policies, specifically the “insured versus insured” and “pollution” exclusions. This can create policies that are more dynamic. INSURING AGREEMENTS: SIDE B—Side B, also known as corporate reimbursement coverage, is the second insuring agreement of a D&O policy. Side B reimburses organizations for expenses they incur when defending directors and officers in accordance with their indemnification obligations. INSURING AGREEMENTS: SIDE C—Often, organizations are named in lawsuits alongside their directors and officers, leaving the entity exposed to serious legal action. Side C coverage, sometimes referred to as entity coverage, is the third insuring agreement of a D&O policy. This side insures organizations for claims made directly against the organization by providing entity asset protections and coverage for defense costs. LIMIT OF LIABILITY—Put simply, the limit of liability sets the maximum amount that an insurance company is prepared to spend defending and settling claims on behalf of a business and its management. A limit of liability is available for the payment of legal defense costs, settlements and court awarded judgments throughout a policy period. LOSS—Loss specifies the claim costs covered by a policy. Specifically, loss in D&O policies refers to expenses— investigation costs, legal fees and settlements—faced by defendants involved in litigation. Losses can also include court awarded judgments, like damages, civil fines and penalties.
INSURING AGREEMENTS. A. FIRST PARTY COVERAGE