Self-Insured Sample Clauses
The Self-Insured clause defines the circumstances under which a party assumes responsibility for certain risks or liabilities without purchasing third-party insurance. In practice, this means the party agrees to cover specified losses or claims out of its own resources rather than relying on an insurance policy. This clause is commonly used when a party has sufficient financial strength to manage potential risks internally. Its core function is to clarify risk allocation and ensure that all parties understand who bears responsibility for losses, thereby avoiding confusion about insurance coverage requirements.
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Self-Insured. If self-insured, the Grantee warrants that it will maintain coverage sufficient to cover any liability specified above that may arise from the performance of this Agreement, and that the Grantee’s Risk Officer or appropriate individual will provide ESD evidence of such insurance. If requested, the Grantee will provide ESD with a copy of the applicable insurance face sheet(s) or certification of self-insurance reflecting this coverage. Insurance coverage(s) must be effective no later than the effective date of the Grantee Agreement and for the term of the Agreement.
Self-Insured. The Contractor may request approval to be self-insured. To request such approval, the Contractor shall: 1) provide DHS with evidence that it is financially solvent and has established financial arrangements (such as a written comprehensive self- insurance program, performance bonds, or fidelity bonds) that will provide DHS with adequate liability protection; 2) show that its ability to process and pay claims adequately, fairly, and in a timely manner is comparable to a commercial insurer; and 3) before signing this contract, obtain from the DHS Deputy Director for Support Services a written statement that DHS has approved the Contractor’s self- insurance and that the Contractor is not required to obtain additional insurance. DHS may include in this statement additional conditions to ensure that the Contractor’s self-insurance is satisfactory to DHS. DHS may deny self-insurance for any reason or withdraw its approval of self-insurance at any time. If the Contractor is approved to be self-insured, the Contractor shall immediately notify DHS at ▇▇▇@▇▇▇▇.▇▇▇ if its financial position or established financial arrangements change in a manner that may negatively impact its ability to process and pay claims comparable to a commercial insurer. DHS may terminate this contract immediately if the Contractor does not provide such notification.
Self-Insured. Lessee shall declare in writing any self-insured retentions over the limit(s) prescribed in Exhibit E and submit to County for approval at least fifteen (15) days prior to the Effective Date. Lessee shall be solely responsible for and shall pay any deductible or self-insured retention applicable to any claim against County. County may, at any time, require Lessee to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention.
Self-Insured. The City is self-insured for its own negligence. The liability of City and Trusts for acts of negligence are limited and subject to the Governmental Tort Claims Act, Title 51 sections 151 et seq.
Self-Insured a. The SUBCONTRACTOR'S must declare its insurance self-insured retention fo coverage required herein. If any such self-insured retention exceeds $500,000 pe occurrence each such retention shall have the prior written consent of the COUNTY Risk Manager before the commencement of operations under this Agreement. Upon notification of self-insured retention unacceptable to the COUNTY, and a the election of the COUNTY'S Risk Manager, SUBCONTRACTOR carriers shall either; 1) reduce or eliminate such self-insured retention as respects this Agreement with the COUNTY, or 2) procure a bond which guarantees payment of losses and related investigations, claims administration, and defense costs and expenses.
b. The SUBCONTRACTOR may satisfy the insurance requirements set forth herein by showing that it is a member of a joint powers entity created pursuant to California Government Code §6500, et seq., which provides insurance or self-insurance to the SUBCONTRACTOR for the risks and to the entities set forth herein for which the SUBCONTRACTOR has agreed to provide insurance.
Self-Insured. A. Landlord may accept self-insurance in lieu of the insurance policies set forth in this Article XIV and the attached Appendix-2 if Tenant provides to Landlord
(1) A copy of the Certificate of Authority to Self-Insure its Worker’s Compensation obligations issued by the state(s) in which the Leased Premises will be located and a copy of the state-issued letter approving self-insurance for automobile liability, if required under this Master Lease;
(2) Proof that Tenant’s net worth is at least ten (10) times the amount of Commercial General Liability insurance required by this Master Lease; and
(3) A copy of Tenant’s most recently audited annual financial statements, with no negative notes, or the most recent Dun and Bradstreet report.
B. If Landlord accepts self-insurance in lieu of the insurance policies set forth in this Article XIV and the attached Appendix-2, Tenant hereby agrees to the obligations of any endorsement or Certificate of Insurance required under Section 14.2, above, and that may be required under any appendix, amendment, or attachment hereto. Such obligations become Tenant’s obligations under this Master Lease.
Self-Insured. Lessee shall declare in writing any self-insured retentions or deductibles over the limit(s) prescribed in Exhibit D and submit to County for approval at least fifteen (15) days prior to the Effective Date. Lessee shall be solely responsible for and shall pay any deductible or self-insured retention applicable to any claim against County. County may, at any time, require Lessee to purchase coverage with a lower retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. Any deductible or self-insured retention may be satisfied by either the named insured or County, if so elected by County, and ▇▇▇▇▇▇ shall obtain same in endorsements to the required policies.
Self-Insured. If self-insured, the Subrecipient warrants that it will maintain coverage sufficient to cover any liability specified above that may arise from the performance of this Subaward, and that the Subrecipient’s Risk Officer or appropriate individual will provide Workforce Snohomish with a copy of the applicable insurance face sheet(s) or certification of self-insurance reflecting these coverage’s. Insurance coverage(s) must be effective no later than the effective date of the Subaward and for the term of the Subaward. SALARY AND BONUS LIMITATIONS
Self-Insured. Any deductible or self-insured retention must be declared to and approved by the City. At the option of the City, either the insurer shall reduce or eliminate such deductible or self-insured retention as respect of the City, its officers, officials and employees; or the Chamber shall procure a bond guaranteeing payment of losses and related investigation claim administration and defense expenses.
Self-Insured. If Contractor is, or becomes during the Term, self-insured or a member of a self- insurance pool, Contractor must provide coverage equivalent to the insurance coverage and endorsements required above. The Commission will not accept this coverage unless the Commission determines, in its sole discretion and by written acceptance, that the proposed coverage is equivalent to the above-required coverage.