Minimum Terms and Conditions definition

Minimum Terms and Conditions means the minimum terms and conditions set out in Appendix 1 to the Regulations with which a Qualifying Insurance (or, in the case of a Qualifying Insurance provided as a coinsurance, any part thereof) underwritten by a Participating Insurer is required by these Regulations to comply, or in the case of ARP coverage and run-off cover, such minimum terms and conditions, as varied by or pursuant to these Regulations, to apply in respect of such cover;

Minimum Terms and Conditions has the meaning ascribed to such term in the Regulations and as set out in Schedule 1;

Minimum Terms and Conditions means the minimum terms and conditions with which a policy of qualifying insurance is required by these rules to comply a copy of which is annexed as Appendix 1 to these rules.

Examples of Minimum Terms and Conditions in a sentence

• This contract is to be construed or rectified so as to comply with the requirements of the Minimum Terms and Conditions, and any provision of this contract which is inconsistent with the Minimum Terms and Conditions is to be severed or rectified to comply.

• The Insurance may not apply any monetary exclusions or limits except as provided for by clauses 3.1 and 3.3 and where the Insurance is underwritten on a co-insurance basis, to the extent provided for in clause 3.6.2. For the avoidance of doubt, this clause 3.5 shall not be construed to prevent an Insured and an Insurer from agreeing that the cover shall provide for a Self-Insured Excess where this is otherwise permitted under these Minimum Terms and Conditions.

• The definition of “Relevant Recognised Body” in clause 8.2 of the Minimum Terms and Conditions indicates which recognised bodies this requirement applies to.

• Run-off cover is not provided under clause 5.1 if there is a Successor Practice to the ceased Practice, provided that there is insurance complying with the Minimum Terms and Conditions in relation to that Successor Practice.

• If there is a dispute as to whether a Practice is a Successor Practice for the purposes of clauses 1.4, 1.6 or 5.3, the Insured and the Insurer will take all reasonable steps (including, if appropriate, referring the dispute to arbitration) to resolve the dispute in conjunction with any related dispute between any other party which has insurance complying with the Minimum Terms and Conditions and that party’s insurer.

More Definitions of Minimum Terms and Conditions

Minimum Terms and Conditions means the minimum terms and conditions set out in Appendix 1 to the Regulations with which a Qualifying Insurance (or, in the case of a Qualifying Insurance provided as a co-insurance, any part thereof) underwritten by a Participating Insurer is required by these Regulations to comply, or in the case of ARP coverage and run-off cover, such rules and such minimum terms and conditions, as varied by or pursuant to these Regulations, to apply in respect of such cover;

Minimum Terms and Conditions means the minimum terms and conditions with which a policy of qualifying insurance is required by these rules to comply a copy of which is annexed as Appendix 1 to these rules. Commentary: All qualifying insurers agree under the qualifying insurer’s agreement to issue policies which comply with the minimum terms and conditions.However, it remains the duty under rule 5 of each firm and each principal within that firm to ensure that the policy issued to it does comply with the minimum terms and conditions. The standard form assigned risks pool policy does comply with the minimum terms and conditions. In addition, each firm should satisfy itself that the professional indemnity insurance that it has in place is sufficient. This may mean that the firm takes out additional insurance over and above that provided under the minimum terms and conditions. Any such “top-up” cover is outside the scope of these rules, and does not have to be taken out with a qualifying insurer. Note that, under the Solicitors’ Incorporated Practice Rules 2001, most recognised bodies are required to obtain a higher level of cover; that further level of cover over and above what is required under these rules does not need to be in accordance with the minimum terms and conditions. Refer to the Solicitors’ Incorporated Practice Rules 2001 for the requirements relating to that further level of cover.

Minimum Terms and Conditions has the meaning ascribed thereto in the Regulations;

Minimum Terms and Conditions means the minimum terms and conditions required by the Solicitors’ Indemnity Insurance Rules 2006 for insurance commencing at inception of the Period of Insurance. Partnership means an unincorporated Firm, and does not mean a Firm incorporated as a limited liability partnership, and Partner means a partner in an unincorporated Firm. Period of Insurance means the period for which this contract operates expiring at midnight on 30 September 2007. Principal means, in relation to:

Minimum Terms and Conditions means the minimum terms and conditions with which a Policy of Qualifying Insurance is required by these Rules to comply a copy of which is annexed as Appendix 1 to these Rules. Commentary: All Qualifying Insurers agree under the Qualifying Insurer‟s Agreement to issue Policies which comply with the Minimum Terms and Conditions. However, under Rule 4 it remains the duty of each Firm and each Principal within that Firm to ensure that the Policy issued to it is issued by an insurer which is a Qualifying Insurer for the Indemnity Period in question, and that it complies with the Minimum Terms and Conditions. The SRA does not approve Qualifying Insurers, nor does it review their policy terms. The standard form ARP Policy does comply with the Minimum Terms and Conditions. In addition, each Firm should satisfy itself that the professional indemnity insurance that it has in place is sufficient. This may mean that the Firm takes out additional insurance over and above that provided under the Minimum Terms and Conditions. Any such “top-up” cover is outside the scope of these Rules, and does not have to be taken out with a Qualifying Insurer.

Minimum Terms and Conditions means the minimum terms and conditions with which a Policy of Qualifying Insurance is required by these Rules to comply a copy of which is annexed as Appendix 1 to these Rules. Commentary: All Qualifying Insurers agree under the Qualifying Insurer’s Agreement to issue Policies which comply with the Minimum Terms and Conditions. However, under Rule 4 it remains the duty of each Firm and each Principal within that Firm to ensure that the Policy issued to it does comply with the Minimum Terms and Conditions. The standard form ARP Policy does comply with the Minimum Terms and Conditions. In addition, each Firm should satisfy itself that the professional indemnity insurance that it has in place is sufficient. This may mean that the Firm takes out additional insurance over and above that provided under the Minimum Terms and Conditions. Any such “top-up” cover is outside the scope of these Rules, and does not have to be taken out with a Qualifying Insurer. Most recognised bodies are required to obtain cover complying with the minimum terms and conditions and with a sum insured of £3 million, rather than

Minimum Terms and Conditions means the minimum terms and conditions set out in Appendix 1 to the Regulations with which a Qualifying Insurance (or, in the case of a Qualifying Insurance provided as a coinsurance, any part thereof) underwritten by a Participating Insurer is required by these Regulations to comply.