Insured object definition

Insured object. The loss of gross profit of the lessee as a result of loss or damage brought about to the property of the insured party under clause 1 above and / or to the lessor and / or to the structure and / or as a result of the prevention of access to them, as a result of one of the insured risks under clause 1 above, and this for an indemnification period of 12 months.
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Examples of Insured object in a sentence

  • The insurance contract also covers damage caused by a trailer or caravan, provided that the connection between motor vehicle and trailer/caravan meets the legal requirements and insofar as the respective trailer/caravan may be regarded as part of the Insured object within the sense of the ALA.

  • Should there be a dispute about the amount of the body damage to the Insured object, the Policyholder and the Insurer will each appoint an expert to assess the damage.

  • The liability for damage caused by the use of the Insured object on an aviation platform.

  • The Insurer is only obliged to indemnify in the event of the title of the stolen or embezzled Insured object being transferred to the Insurer.

  • The event or accident being caused by any other use of the Insured object than reported to the Insurer or by using it for another purpose than permitted by Law.

  • The excess is reduced by 3,000 Kroner if an FG approved alarm system was operational at the time of a theft of, or break-in damage/loss in connection to, the Insured object.

  • In cases of loss by theft or embezzlement of the Insured object the insurer will indemnify the current market value of the object immediately before the loss.

Related to Insured object

  • relevant and reasoned objection means an objection to a draft decision as to whether there is an infringement of this Regulation, or whether envisaged action in relation to the controller or processor complies with this Regulation, which clearly demonstrates the significance of the risks posed by the draft decision as regards the fundamental rights and freedoms of data subjects and, where applicable, the free flow of personal data within the Union;

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • First party claimant means an individual, corporation, association, partnership, or other legal entity asserting a right to payment as a covered person under an insurance policy or insurance contract arising out of the occurrence of the contingency or loss covered by such a policy or contract.

  • Insured Claim means any Claim arising from an incident or occurrence alleged to have occurred prior to the Effective Date that is covered under an insurance policy applicable to the Debtors or their businesses.

  • Claim Objection Deadline means the first Business Day that is 180 days after the Effective Date, as may be extended by order of the Bankruptcy Court.