Named Assured definition
Examples of Named Assured in a sentence
If an employee knows in advance that he/she will be absent the scheduled day before or scheduled day after a holiday, that the absence will not be covered in full by paid leave time, and the employee believes the absence is an emergency, the employee may submit a written request to the Head Start Director for prior approval of the leave as an emergency.
Assignment of interest under this Policy shall not bind the Underwriters until their consent is endorsed hereon, if however, the Named Assured shall die, this policy shall cover the Named Assured's legal representative as the Named Assured; provided that notice of cancellation addressed to the Assured named in the policy shall be sufficient notice to effect cancellation of this policy.
However, if the Underwriters cancel this Policy because the Named Assured has failed to pay a premium when due this Policy may be cancelled by the Underwriters by mailing a written notice of cancellation to the Named Assured stating when, not less than 10 days thereafter such cancellation shall be effective.
This Policy may by cancelled by the Named Assured by surrender thereof to the Underwriters or by mailing to the Underwriters written notice stating when thereafter the cancellation shall be effective.
C) The deductible amount stated in Item 3 d) of the Schedule, which loss amount shall be borne by the Named Assured before Underwriters shall have any liability under this certificate.
If the Named Assured cancels this Policy, earned premium shall be computed in accordance with the attached short rate table and procedure.
The right to the Extended Reporting Period shall not be available to the Named Assured where cancellation or non-renewal by the Underwriters is due to non-payment of premium or failure of the Assured to pay such amounts in excess of the Limit of Liability or within the amount of the applicable retention or deductible or failure of the Assured to comply with the terms and conditions of this Policy.