Definition of Policy Liabilities

  1. Policy Liabilities means the insurance contract liabilities arising from Policies of Insurance, including unpaid claims and adjustment expenses, incurred but not reported losses, unearned premium liabilities, unearned reinsurance commission and premium deficiencies.

Examples of Policy Liabilities in a sentence

  1. For greater certainty, this Section 1.3 shall not: (x) under any circumstances limit or in any way impact any rights or remedies of the Purchaser under Section 2.6; and (y) apply to any indemnification claim for Damages by a Purchaser Indemnified Party resulting from, in connection with or arising out of any fraud or intentional misrepresentation by the Companies or the Vendors relating to the Reserves or Policy Liabilities.

Definition of Policy Liabilities in Share Purchase Agreement

Policy Liabilities means the insurance contract liabilities arising from Policies of Insurance, including unpaid claims and adjustment expenses, incurred but not reported losses, unearned premium liabilities, unearned reinsurance commission and premium deficiencies.