Primary Insurance Settlement definition

Primary Insurance Settlement means the amount received from the Primary Carrier in settlement of the Contract Holder’s auto insurance claim as a result of a Constructive Total Loss. This includes any amounts or deductions made by the Primary Carrier for prior damage that has already been paid to the Contract Holder.
Sample 1Sample 2
Primary Insurance Settlement means the amount paid by the Primary Insurer to settle a Constructive Total Loss or Unrecovered Theft plus any amounts deducted by the Primary Insurer for: (1) the Primary Insurer deductible, (2) preexisting damage, and (3) salvage values retained by you.
Sample 1

Examples of Primary Insurance Settlement in a sentence

  • The Benefit amount will be the difference between the Outstanding Balance and the Primary Insurance Settlement, less any partial exclusion amounts not covered by this Agreement.

  • You are responsible for making all payments owed under the terms of the Finance Agreement, up until the Primary Insurance Settlement is paid.

  • Primary Insurance Settlement means amount paid by the Buyer’s Primary Insurance Provider or a third party insurance provider, if applicable.

  • Payment must be made using the pagoPA system (IUV) which is the electronic payment system for the public administration and which allows you to: • pay online:o or credit cardo or current account• pay in person: print the payment notice to be presented at one of the authorized institutions.

  • The discounted amount is equal to the difference between the Covered Vehicle Value and the sum of the Primary Insurance Settlement and GAP Benefit, subject to the maximum limits stated on the Declarations page.

  • You do not need to request a refund upon full satisfaction of the balance of the Finance Agreement by the Primary Insurance Settlement; the Assignee will automatically issue Your refund twenty-five (25) days after receipt of the Primary Insurance Settlement and full satisfaction of the balance of the Finance Agreement.

  • In the event of a CONSTRUCTIVE TOTAL LOSS, YOU must notify and provide the following to OUR Administrator, MY DEDUCTIBLE, LLC (at the address shown below): (1) a complete copy of the Primary Insurance Settlement, including the valuation worksheet; (2) a copy of the original FINANCING CONTRACT and this Addendum; (3) a copy of the accident/police report; (4) a copy of YOUR insurance policy; and (5) a payment history from Financial Institution as of the DATE OF LOSS.

  • Under this program, Wesco provides the following coverages:➢ GAP Benefit, in which Wesco covers the difference between the Net Payoff and the Primary Insurance Settlement.

  • When asked to explain his relationship with Mr Ford the claimant confirmed that it was a good, professional, working relationship.

  • Complete copy of the Primary Insurance Settlement Statementsubstantiating the date of and cause of the Total Loss of the Covered Vehicle, gross settlement amount, deductible and net settlement amount.

Related to Primary Insurance Settlement

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • Insurance Schedule means Schedule 3 attached hereto.

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.

  • Insurance carrier means every insurance carrier duly

  • Sponsored captive insurance company means a captive insurance company:

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Blanket insurance policy means a group policy covering a defined class of

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Flood Insurance Study (FIS means an examination, evaluation, and determination of flood hazards, corresponding water surface elevations (if appropriate), flood hazard risk zones, and other flood data in a community issued by the FEMA. The Flood Insurance Study report includes Flood Insurance Rate Maps (FIRMs) and Flood Boundary and Floodway Maps (FBFMs), if published.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Captive insurance company means a pure captive insurance company, association captive insurance company, captive reinsurance company, sponsored captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or licensed under this chapter. For purposes of this chapter, a branch captive insurance company must be a pure captive insurance company with respect to operations in this State, unless otherwise permitted by the director.