Policy Year definition

Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.
Policy Year means a period of 12 (Twelve) months commencing from the Date of Commencement of Risk and every Policy Anniversary thereafter;
Policy Year means the year commencing on the Policy Commencement Date or a Policy Anniversary thereof.

Examples of Policy Year in a sentence

  • Our total liability of each Pet for each Policy Year is shown in the Maximum Allowable Limits.

  • If the Committee shall so determine then the two or more closed Policy Years concerned shall for all purposes be treated as though they constituted a single closed Policy Year.

  • Rules of Class 1 (2) The Committee or the Managers may at any time take any necessary steps to enable such persons to become aware of their financial commitments for the relevant Policy Year by indicating an estimate of the percentage of any Supplementary Call or Calls to be levied.

  • The Committee may determine that any Policy Year is closed in respect of Supplementary Calls notwithstanding that it is known or anticipated that there are in existence or may in the future arise claims, reinsurance premiums, expenses or outgoings in respect of such Policy Year (apart from Overspill Claims) which have not yet accrued or whose validity, extent or amount have yet to be established.

  • Rules of Class 1 If before the end of any Policy Year these Rules shall have been altered in any respect which affects the terms and conditions of the contract of insurance between a Member and the Association, then such alteration shall be binding upon the Member and for all purposes take effect as from the commencement of the next Policy Year.


More Definitions of Policy Year

Policy Year means a period of 12 consecutive months starting from the date of commencement of the Policy as stated in the Policy Schedule and ending on the day immediately preceding the following anniversary date and each subsequent period of 12 consecutive months thereafter
Policy Year means a period of 12 consecutive calendar months from the Policy Commencement Date and every subsequent Policy Anniversary, thereafter.
Policy Year means every annual period within the Policy Period starting with the commencement date.
Policy Year means the period of time these Terms and Benefits are in force.
Policy Year means a period of 12 consecutive months commencing from the Date of Commencement of the Policy and every period of 12 consecutive months thereafter.
Policy Year means a period of 12 (Twelve) months commencing from the Effective Date and every Policy Anniversary thereafter;
Policy Year means a year following the Commencement Date and its subsequent annual anniversary.