Hold Cover definition
Hold Cover means an option selected by an Insurer when transacting a Platform Contract over the Platform confirming that an Insurer accepts that it is liable to indemnify the insured party under a Platform Contract pending the resolution of certain Conditions or Subjectivities.
Hold Cover means cover according to which We agree to take over some credit limits granted by the previous insurer under the previous contract, for a limited period of time of the hold cover period and subject to conditions provided in this Clause;
Examples of Hold Cover in a sentence
The other provisions of your Contract not contradicted by this Hold Cover Clause, apply mutatis mutandis to it.
As an exception to the above, if We refuse to grant any Credit Limit on a given Buyer, the said Refusal will take immediately effect upon our notice; accordingly, the Hold Cover will not be applicable and the Current Credit Limit will not be taken over for such Buyer.