Underlying Policies definition
Examples of Underlying Policies in a sentence
During the notification period, the Ceding Company may continue to cede and Generali USA will continue to accept pursuant Article I Underlying Policies covered under the terms of this Agreement.
The Reinsured shall credit the Reinsurer with its share of all premiums and shall debit the Reinsurer with its share of all losses, allowances and loss adjustment expenses paid by the Reinsured under the Underlying Policies for the business reinsured under this Agreement.
USD$5,000,000 each Occurrence, with Commercial General Liability, Business Auto Liability, and Employer’s Liability coverages described herein appearing as Scheduled Underlying Policies.
Further, in the event any of the insurers of the Underlying Policies fails to pay any amounts due in connection with a covered Claim as a result of bankruptcy, insolvency or liquidation, then the Insured shall be deemed self-insured for the amount of the Limit of Liability of said Policy or Policies.
SPECIMEN Notice given under the Primary Policy or any Underlying Policies shall not constitute notice under this Policy.