Insured Losses definition

Insured Losses and "Program Year" as utilized herein shall follow the definitions as provided in the Act."

Insured Losses resulting directly or indirectly from a “Certified Act of Terrorism” under the terms of the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Extension Act of 2005 and as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 hereafter (“TRIA”).

Insured Losses means:

Examples of Insured Losses in a sentence

• If an Insured Loss is no greater than the Gross Coverage, the Proceeds for such Insured Loss shall be allocated among the Insureds according to their respective Insured Losses.

• If an Insured Loss exceeds the Gross Coverage, the Proceeds for such Insured Loss shall be allocated among the respective Insureds who sustained such losses in proportion to the respective amounts of the Insured Losses of such Insureds.

• However, in the event that one or more Insureds claim Insured Losses, any increase in premium in subsequent Bond Periods due to such claims, as determined by the broker, shall be allocated among the Parties that made such claims in proportion to their respective net assets.

• All reasonable expenses incurred by the Agent in its capacity as agent for claims shall be shared by the Parties and their respective Insureds on whose behalf the expenses were incurred in proportion to their Insured Losses.

• The Adviser is hereby appointed as the agent for the Parties for the purpose of making, adjusting, receiving, and enforcing payment for all Insured Losses under the Bond and otherwise dealing with the insurer concerning the Bond.

More Definitions of Insured Losses

Insured Losses resulting directly or indirectly from a “Certified Act of Terrorism” under the terms of TRIA, as it may be amended from time-to-time.

Insured Losses shall have the meaning set forth in Section 102 of TRIA.

Insured Losses means all claims filed against the Company or the Seller after the Closing Date that relate to events from February 2, 2002 until the Closing Date with respect to the Business that are covered by the Seller Insurance Policies.

Insured Losses. The lesser of (i) Covered Losses in excess of the Attachment Point and (ii) the Limit of Liability.

Insured Losses means Losses under the Policies and any related loss adjustment expense, including attorney fees and claims administration and handling costs.

Insured Losses means the losses covered in the Lead Underlying Insurance arising from an Insured Event.

Insured Losses resulting directly or indirectly from a “Certified Act of Terrorism” under the terms of the Terrorism Risk Insurance Act of 2002 as it may be amended from time to time.