Loss Payments Sample Clauses
The Loss Payments clause defines how and when an insurer will pay out for covered losses under an insurance policy. Typically, it outlines the process for submitting claims, the timeframe for payment after a loss is established, and any conditions or documentation required for payment. For example, it may specify that payment will be made directly to the insured, a third party, or jointly, depending on the circumstances. The core function of this clause is to ensure clarity and predictability in the claims process, providing policyholders with assurance about how compensation for losses will be handled.
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Loss Payments. Benefits are payable:
1. Not more frequently than every two weeks; and
2. Within 30 days after satisfactory proof of claim is received.
Loss Payments. Settlement of the guarantee will be processed in accordance with this sec- tion.
Loss Payments. Any payment of loss required to be made to the Insured with respect to any claim shall be payable within sixty (60) days after receipt by the Company of such claim, provided that, if the Company shall within twenty (20) days after the filing of the claim reasonably request additional information necessary to complete its review of the claim, then the sixty (60) day period shall be suspended until the Company receives the requested information.
Loss Payments. Benefits are payable under Personal Injury Protection Coverage periodically as claims for those benefits arise and as follows:
Loss Payments. The Insurer irrevocably authorises and instructs the Reinsurer to pay, and the Reinsurer agrees to pay, all claims, return premiums and any other monies payable under or in relation to this contract to the account of the company to the Offshore Insurance Proceeds Account or to such other account as the Offshore Security Agent as loss payee may specify in writing, and that no instruction, whether by the Insurer or by any person other than the Offshore Security Agent, to make any payment to any other person or account shall be honoured by the Reinsurer unless given or countersigned by the Offshore Security Agent, or such other person as the Offshore Security Agent may notify to the Reinsurer in writing. All such payments shall be made by the Reinsurer without any deduction or set-off on any account or of any kind except deductions for any unpaid premiums. A payment to the loss payee in accordance with this provision shall, to the extent of that payment, discharge (a) the liability of the Reinsurer to pay the Insurer; and (b) the liability of the Insurer to the Insureds under the underlying insurance contract reinsured hereby. The arrangements in this clause shall continue to apply notwithstanding the liquidation or insolvency of the Insurer or the Reinsurer or the Company.
Loss Payments. When it has been determined that the Trust is liable under this indemnity agreement, the Trust shall thereafter promptly reimburse the Indemnitee for all payments made in excess of the maintenance deductible stated in the table of limits of liability. All adjusted claims shall be paid or made good to the Indemnitee within a reasonable time after the presentation to the Trust, and acceptance by the Trust of satisfactory proof of interest and loss.
Loss Payments. A. The Reinsurer shall pay to the Company the Reinsurer's proportionate share or other applicable amount, as set forth in the related Reinsurance Memorandum as set forth in the appropriate Reinsurance Memorandum, of all losses and Allocated Loss Adjustment Expenses for which payment is due by the Company under the Policies so named. Losses and Allocated Loss Adjustment Expenses due to the Company shall be paid pursuant to paragraph D of this Article and ARTICLE X -
Loss Payments. When it has been determined that we are liable under this policy, we shall pay losses in excess of the stated deductible up to the limits of indemnification stated in the declarations pages. Our obligation to make loss payments shall arise as amounts owed are determined.
Loss Payments. Unless otherwise provided by this Agreement or the Indenture, the Reinsurer shall make a payment to the Cedant equal to the total of (i) the Class B Event Loss Amount multiplied by the Class B Payout Ratio for the Class B Notes plus (ii) in the case of an East and Gulf Coast Hurricane or a European Windstorm, the Class A Event Loss Amount multiplied by the Class A Payout Ratio for the Class A Notes (the “Loss Payment”) on the earlier of (a) the Payment Date next following the Loss Determination Date by at least five (5) Business Days, or (b) the Termination Date. If one or more Events occur, the Reinsurer shall make a payment to the Cedant in an amount equal to the aggregate of the Loss Payments with respect to each such Event on the earlier of (a) the Payment Date next following each related Loss Determination Date by at least five (5) Business Days, or (b) the Termination Date (each, a “Reinsurer Payment”). For purposes of this Article VIII, Loss Payments shall be determined in accordance with Article IX. No Loss Payments relating to a California Earthquake shall be made if the Class B Outstanding Capital Amount has been reduced to zero. In no event shall any Loss Payment (i) related to an East and Gulf Coast Hurricane or European Windstorm exceed the total of the Class A Outstanding Capital Amount and the Class B Outstanding Capital Amount at the time of such Loss Payment or (ii) related to a California Earthquake exceed the Class B Outstanding Capital Amount at the time of such Loss Payment. Back to Contents
Loss Payments. Personal Injury Protection Benefits are payable within thirty (30) days after satisfactory proof of claim is received. Payments will not be made more frequently that once every two (2) weeks.