Common use of Shared Limits Clause in Contracts

Shared Limits. Whether or not insured under a MP, Applicant shall receive its own limits of insurance, which limits are not shared with any other Member. - Certificate of Insurance. Members will receive a Certificate of Insurance (“Certificate”) upon acceptance into the program by the Agent, and upon receipt of full payment of all premiums, Dues, taxes, and surcharges due. A Certificate functions as a “subpolicy” under the MP issued to RPG and its membership. The Certificate is a coverage document that states which terms, conditions, and exclusions of the MP apply or do not apply to the Member. The Certificate may contain further enhancements and restrictions of coverage unique to a given Member. - Conflicts Between Master Policy & Certificates. In the event that a term, condition, or exclusion in a Certificate conflicts with a term, condition, or exclusion of a related MP, the terms, conditions, and exclusions of the MP take precedence over and supersede the terms, conditions, and exclusions of the Certificate, unless the Certificate states on its face that the Certificate takes precedence over conflicting terms, conditions, or exclusions in the MP.