Declaratory Judgment Expenses definition
Declaratory Judgment Expenses means all legal expenses, incurred in the representation of the Company in litigation brought to determine the Company's defense and/or indemnification obligations, that are allocable to any specific claim or loss applicable to Policies subject to this Agreement. In addition, the Company shall promptly notify the Reinsurer of any Declaratory Judgment Expenses subject to this Agreement.
Declaratory Judgment Expenses as used in this Contract shall mean legal expenses paid by the Company in the investigation, analysis, evaluation, resolution or litigation of coverage issues between the Company and its insured(s), under Policies reinsured hereunder, for a specific loss or losses tendered under such Policies, which loss or losses are not excluded under this Contract.
Declaratory Judgment Expenses as used in this Agreement shall mean legal expenses paid by the Company in the investigation, analysis, evaluation or litigation of a coverage action between the Company and any other party to determine if there is coverage under a Policy or Policies issued by the Company for a specific claim or specific claims reinsured under this Agreement or which would be reinsured under this Agreement had the Company not been successful in the coverage action.
Examples of Declaratory Judgment Expenses in a sentence
The ultimate net loss shall include Declaratory Judgment Expenses incurred in connection with coverage questions and legal actions related to a specific claim.
This Agreement shall indemnify the Company, within the limits of this Agreement, for Declaratory Judgment Expenses paid by the Company, as provided in this Agreement, under Policies reinsured hereunder.
This term shall also be deemed to include any Declaratory Judgment Expenses incurred by the Company.
As an allowance for Loss Adjustment Expense (including Declaratory Judgment Expenses), the Reinsurer shall be liable for an amount equal to 6% of the ceded Gross Net Earned Premium hereunder.
All investigation, adjustment, legal expense, (including interest other than interest accrued prior to judgment which is made part of the judgment), and Claim-Specific Declaratory Judgment Expenses, incurred by the Company (except office expenses and salaries of officials and employees not classified as loss adjusters) shall be divided between the Company and the Reinsurer in proportion to their respective shares of the Ultimate Net Loss.
More Definitions of Declaratory Judgment Expenses
Declaratory Judgment Expenses means legal expenses and costs incurred in connection with coverage questions regarding specific claims and legal actions, including declaratory judgment actions, connected thereto.
Declaratory Judgment Expenses as used herein shall mean all expenses incurred by the Company in connection with declaratory judgment actions brought to determine the Company’s defense and/or indemnification obligations that are assignable to specific policies and claims subject to this Contract. Declaratory judgment expenses shall be deemed to have been incurred by the Company on the date of the original loss (if any) giving rise to the declaratory judgment action. In the event there is no loss other than declaratory judgment expenses with respect to any claim hereunder, such expenses shall be deemed loss for purposes of this Contract.
Declaratory Judgment Expenses as used in this Agreement shall mean legal expenses paid by the Company in the investigation, analysis, evaluation or litigation of a coverage action between the Company and any other party to determine if there is coverage under a policy or policies issued by the Company for a specific claim or specific claims reinsured under this Agreement or which would be reinsured under this Agreement had the Company not been successful in the coverage action. Recoveries from any form of insurance or reinsurance that protects the Company against claims which are the subject matter of this clause will inure to the benefit of the Reinsurers and shall be deducted to arrive at the amount of the Company's Ultimate Net Loss.
Declaratory Judgment Expenses means all expenses incurred by the Company in connection with declaratory judgment actions brought to determine the Company's defense and/or indemnification obligations that arc allocable to specific Policies and claims subject to this Contract. Declaratory Judgment Expenses shall be deemed to have been incurred by the Company on the date of the original loss (if any) giving rise to the declaratory judgment action.
Declaratory Judgment Expenses means all expenses, fees, costs and interest which the Retrocedant has paid or which are payable by the Retrocedant in connection with or in relation to the analysis, prosecution, defense, or resolution of an action or proceeding whether for declaratory judgment or other action or proceeding brought to determine the obligations under a Policy that is part of the Subject Business. Declaratory Judgment Expenses are deemed to have been incurred by the Retrocedant on the date of the actual or alleged claim giving rise to the declaratory judgment or other action or proceeding and shall be payable under this Agreement irrespective of whether an actual loss has been paid or payable by the Retrocedant.
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 Expenses shall include, solely for the purposes of calculating the Ceding Insurer’s Ultimate Net Loss, the Ceding Insurer’s own costs and legal expenses incurred in direct connection with declaratory judgment actions brought to determine the Ceding Insurer’s defense and/or indemnification obligations between the Ceding Insurer and its insured(s) that are assignable to specific claims arising out of policies reinsured by this Reinsurance Agreement, regardless of whether the declaratory judgment action is successful or unsuccessful. Any Declaratory Judgment Expense shall be deemed to have been fully incurred by the Ceding Insurer on the same date as the original loss (if any) giving rise to the action.