Declaratory Judgment Expense definition
Declaratory Judgment Expense as used herein shall mean all expenses incurred by the Company in connection with a declaratory judgment action brought to determine the Company’s defense and/or indemnification obligations that are allocable to a specific claim subject to this Contract. Declaratory Judgment Expense shall be deemed to have been incurred on the date of the original loss (if any) giving rise to the declaratory judgment action.
Declaratory Judgment Expense means all expenses incurred by the Company in connection with a declaratory judgment action brought to determine the Company’s defense and/or indemnification obligations that are allocable to a specific claim subject to this Contract. Declaratory Judgment Expense shall be deemed to have been incurred on the date of the original loss giving rise to the declaratory judgment action.
Declaratory Judgment Expense means all attorneys' fees, expenses and other litigation costs attributable to coverage analysis or declaratory judgment actions or other coverage dispute resolution procedures brought to determine defense and/or indemnification or payment obligations for any Reinsured Risk, whether or not a loss has been paid.
Examples of Declaratory Judgment Expense in a sentence
The date on which a Declaratory Judgment Expense is incurred by the Company shall be deemed, in all circumstances, to be the date of the original occurrence.
However, the amount of any Declaratory Judgment Expense that may be included in computation of Adjustment Expense shall not exceed the lesser of the amount of insurance under the policy or the Reinsurer’s Limit of Liability for each Risk under this Exhibit.
The date on which a Declaratory Judgment Expense is incurred by the Company shall be deemed, in all circumstances, to be the date of the original Occurrence.
Notwithstanding the provisions of the article entitled MANAGEMENT OF CLAIMS AND LOSSES, this term shall also include (i) legal expenses and costs incurred by the Company in connection with, and allocated to, an individual Extra Contractual Obligation, and (ii) Declaratory Judgment Expense.
Ultimate Net Loss shall include Declaratory Judgment Expense and Noncontractual Damages, but shall exclude all unallocated loss adjustment expenses incurred pursuant to the Administrative Services Agreement.
More Definitions of Declaratory Judgment Expense
Declaratory Judgment Expense as used herein shall mean all court costs, attorney’s fees and expense incurred by the Company in contesting insurance coverage on policies reinsured hereunder. Declaratory judgment expenses shall be deemed to have occurred on the same date as the loss covered or alleged to be covered under the policy.
Declaratory Judgment Expense as used herein shall mean all expenses incurred by the Company in connection with a declaratory judgment action brought to determine the Company’s defense and/or indemnification obligations that are allocable to a specific claim subject to this Contract. Declaratory Judgment Expense shall be deemed to have been
Declaratory Judgment Expense means all Collection Expenses, attorneys’ fees, expenses and other costs attributable to coverage analysis, declaratory judgment actions or other coverage dispute resolution procedures brought to determine defense, indemnification and/or payment obligations for any Business Covered, whether or not a loss has been paid. For purposes of this Reinsurance Agreement, this definition of “Declaratory Judgment Expenses” shall apply regardless of how the Reinsured reserves for Declaratory Judgment Expenses on its annual and quarterly statutory financial statements filed with Governmental Authorities.
Declaratory Judgment Expense as used herein shall mean all court costs, attorney's fees and expense incurred by the Company in contesting insurance coverage on Policies reinsured hereunder.
Declaratory Judgment Expense as used herein shall mean all expenses incurred by the Company in connection with a declaratory judgment action brought to determine the
Declaratory Judgment Expense as used herein shall mean all court costs, attorney's fees and expense incurred by the Company during the underwriting year in contesting insurance coverage on policies reinsured hereunder and shall be further limited as follows:
1. Expenses associated with unsuccessful actions shall constitute loss adjustment expense;
2. Expenses associated with successful or compromised actions shall be recoverable at 80.0%, and shall be subject to a $75,000 deductible per action, which shall be retained by the Company. Declaratory judgment expenses shall be deemed to have occurred on the same date as the loss covered or alleged to be covered under the policy.
Declaratory Judgment Expense as used herein shall mean the legal expenses and costs incurred in connection with coverage questions and legal actions connected thereto relating directly to a specific claim brought against a Policy reinsured under this Contract, subject to all of the other terms and conditions of this Contract. The date on which any expense covered hereunder is incurred by the Company will be deemed, in all instances, to be the date of the incident giving rise to the claim being contested. Nothing herein shall be construed to create a separate or distinct Occurrence apart from the original claim brought against the Policy.