Excess Insurance definition

Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.
Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.
Excess Insurance or "stop loss insurance" means insurance issued to a health maintenance organization by an insurer licensed in this Commonwealth, on a form approved by the Commission, or a risk assumption transaction acceptable to the Commission, providing indemnity or reimbursement against the cost of health care services provided by the health maintenance organization.

Examples of Excess Insurance in a sentence

  • If any Excess insurance is utilized to fulfill the requirements of this subsection, such Excess insurance shall be “follow form” equal or broader in coverage scope than underlying insurance.

  • In the event TOW OPERATOR purchases an Umbrella or Excess insurance policy(ies) to meet the “Minimum Limits of Insurance,” this insurance policy(ies) shall “follow form” and afford no less coverage than the primary insurance policy(ies).

  • Excess insurance from commercial companies provided coverage of up to $100 million to February 28, 2023, and up to$75 million from March 1, 2023, for property insurance.

  • If Umbrella or Excess policy is evidenced to comply with minimum limits, a copy of the Underlyer Schedule from the Umbrella or Excess insurance policy may be required.Review and Approval: Documents specified above must be submitted for review and approval by the State prior to the commencement of work by Contractor.

  • If the pool does not cover the cost of the insurance premiums each month, payroll deductions will be made to pay the excess cost according to the following formula: Excess dollars in pool -------------------------------- = % of excess cost paid by pool Excess insurance cost Example: A member's monthly medical insurance premiums exceed the employer's monthly contribution limit by fifty dollars ($50.00).


More Definitions of Excess Insurance

Excess Insurance or "stop loss insurance" means insurance issued to a health maintenance
Excess Insurance means catastrophic insurance for employers granted self−insurance, and is not full−insurance, self− insurance, partial−insurance or divided−insurance.
Excess Insurance means that insurance which may be purchased on behalf of the Agency to protect the funds of the Agency against catastrophes or an unusual frequency of losses during a single year;
Excess Insurance means insurance, purchased from an
Excess Insurance means insurance purchased from an insurance company appropriately approved or authorized or licensed in this Commonwealth covering losses in excess of an amount established between the group and the insurer up to the limits of coverage set forth in the insurance contract on a specific per occurrence or per accident or annual aggregate basis.
Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner of Insurance as a surplus lines insurer, covering losses in excess of an amount established between SPELL and the insurer up to the limits of coverage set forth in the insurance contract on a specific per occurrence, per accident or annual aggregate basis.
Excess Insurance or "stop-loss insurance" means an insurance policy purchased by a multiple employer welfare arrangement under which it receives reimbursement for benefits it pays in excess of a preset deductible or limit.