Underlying Limit definition

Underlying Limit means the maximum amount of cover payable under the terms of your main travel insurance policy.

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Underlying Limit means the original maximum amount payable under the relevant Basic Benefit.

Underlying Limit means the cumulative total of the limits of liability of the insurer(s) of the Underlying Policy(ies) applicable to any loss or liability (as applicable) as set out in Item 5 of the Schedule.

Examples of Underlying Limit in a sentence

• C If any Underlying Limits are subject to a Sublimit then coverage hereunder shall not apply to any Claim which is subject to such Sublimit, provided however, that the Underlying Limit shall be recognized hereunder as depleted to the extent of any payment of such Claim subject to such Sublimit.

• To the extent that any Underlying Limit of Liability is not maintained in full effect during this Policy Period, the Insureds shall be deemed to be self-insured for the amount of the Limit of Liability of the Underlying Limit of Liability which is not maintained as set forth above.

• Insuring Agreement as reducing the Underlying Limit by such amount.

• Liability shall attach to the Insurer only after (i) the insurers of the Underlying Insurance, the Insureds or others on behalf of the Insureds shall have paid in legal currency amounts covered under the respective Underlying Insurance equal to the full amount of the Underlying Limit, and (ii) the retention or deductible, if any, applicable under the Underlying Insurance has been satisfied.

• The Insurer may, at its sole discretion, elect to participate in the investigation, defense and settlement of any claim or other matter to which the coverage under this Policy could apply even if the Underlying Limit has not been exhausted.

More Definitions of Underlying Limit

Underlying Limit means the aggregate sum of all limits of liability of all Underlying Insurance.

Underlying Limit means the amount equal to the aggregate of all limits of liability as set forth in Item 4. of the Declarations for all Underlying Insurance plus the applicable uninsured retention, if any, under the Primary Policy.

Underlying Limit means an amount equal to the sum of:

Underlying Limit means the required minimum insurance coverage shown on the Declarations Page. It also includes any general or replacement policies or new policies for new acquisitions providing the required minimum is maintained.

Underlying Limit means with respect to each occurrence to which this policy applies the amounts of the applicable limits of liability in the underlying insurance as stated in the Schedule of Underlying Insurance Policies less the amount, if any, by which any aggregate limit of such insurance has been reduced by

Underlying Limit means the aggregate sum of all limits of liability of all Underlying Policies as specified in Item 4.C of the Declarations.

Underlying Limit means an amount equal to the combined total of all aggregate limits of liability plus the amount(s) of any applicable uninsured deductibles or retention(s), if any, in the Underlying Insurance payable on account of any covered losses, whether payable under any Underlying Insurance or payable under any insurance policy issued to a foreign subsidiary of the Insured where such payment would correspondingly erode the applicable limit(s) of liability contained in any such Underlying Insurance.