Underlying Limits definition

Underlying Limits means, with respect to each Insurance Product, an amount equal to the aggregate of all limits of liability for each Insurance Product stated in Endorsement No. 1 to this Policy, plus the uninsured retention or deductible, if any, applicable to the Primary Policy under such Insurance Product.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Underlying Limits means the greater of:

Underlying Limits means the aggregate sum of all limits of liability of all

Examples of Underlying Limits in a sentence

• If the Underlying Limits are wholly exhausted solely due to actual payment under the Underlying Insurance, this Policy shall continue to apply as primary insurance with respect to the applicable Insurance Product(s) and the retention or deductible, if any, applicable under the Primary Policy(ies) shall apply under this Policy.

• If the Underlying Limits are partially reduced solely due to actual payment under the Underlying Insurance, this Policy shall continue to apply as excess insurance over the remaining Underlying Limits.

• All of the Underlying Insurance in effect as of the inception date of the Policy Period shall be maintained in full effect with solvent insurers throughout the Policy Period except for any reduction or exhaustion of the Underlying Limits as provided in Section IV.

• 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.

• In the event the Insured or the insurers of the Underlying Insurance electing not to appeal a judgement in excess of the Underlying Limits, the Insurers may elect to make such appeal at their own cost and expense and shall be liable for the taxable costs and disbursements and interest incidental thereto, but in no event shall the liability of the Insurers exceed the Limits of Liability excluding the costs and expenses of such appeal.

More Definitions of Underlying Limits

Underlying Limits means the sum of amounts:

Underlying Limits means an amount equal to the aggregate of all the limits of the Underlying Insurance combined (excess of their retentions).

Underlying Limits as used in the Hudson Policy means the greater of the “amounts set forth in Item 7 of the Declarations as the underlying limits,” or “the sum of the applicable limits of liability of all insurance available to the insured for injury or damage to which this policy applies . . . .” Id. “Using” as used in the Hudson Policy means “maintaining, entrustment to others, operating,

Underlying Limits means the following amount: $ .“Underlying Policy(ies)” means all policies or coverage sections of policies identified in the above Schedule of Under- lying Policies, as constituted at their inception (unless the Company consents to any change thereto by written endorse- ment to this Policy). “Underlying Insurer” means any insurer identified in the above Schedule of Underlying Policiesas issuing any of the Underlying Policies. Item 5. Pending and Prior Claim Date: Item 6. Premium: $ Item 7. Discovery Period:(a) Discovery Period Premium: $ (b) Length of Discovery Period: Item 8. Endorsements Effective at Inception: Item 9. Notices to Company:

Underlying Limits means an amount equal to the aggregate of all limits of liability as set forth in Schedule A for all Underlying Policies, plus the uninsured retention, if any, applicable under the Followed Policy.

Underlying Limits means the total aggregate of all limits of liability of all Underlying Insurance.

Underlying Limits means an amount equal to the total of all aggregate limits of liability for all “Underlying Policies” as set forth on Item 5. of the Declarations, plus the uninsured retention or deductible applicable to the “Primary Policy” named in Item 5., Schedule of Underlying Insurance.