Insurance Law Sample Clauses

Insurance Law. Commissions and expense allowances paid by MFS pursuant to a Selling Agreement shall not exceed the amounts payable to MFS by Manulife New York hereunder with respect to the Insurance Contracts. All such compensation plans shall be on the same basis, whether commission based or fund based, as the corresponding compensation plan between Manulife New York and MFS pursuant hereto, and payments shall have the same timing and duration.
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Insurance Law. 🞏G. Juvenile Law 1. Dependence and Parental Rights Cases
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Insurance Law. As NexTrust will build a large trusted collaborative multiple vehicle delivery network, risk management and liability insurance will be one of the important key considerations for the NexTrust business operations. In order to provide protection against such risks, insurances must be taken out. The following paragraphs shall elaborate on the insurance obligations of the different stakeholders.
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Insurance Law. In addition, each Offering Document delivered with respect to the Securities which includes financial statements of Assured Guaranty prepared in accordance with generally accepted accounting principles (but excluding any Offering Document in which such financial statements are incorporated by reference) shall include the following statement immediately following such financial statements: The Maryland Insurance Administration recognizes only statutory accounting practices for determining and reporting the financial condition and results of operations of an insurance company, for determining its solvency under the Maryland Insurance Code, and for determining whether its financial condition warrants the payment of a dividend to its stockholders. No consideration is given by the Maryland Insurance Administration to financial statements prepared in accordance with generally accepted accounting principles in making such determinations.
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Insurance Law. G. Juvenile Law 1. Dependence and Parental Rights Cases 2. Delinquency Cases 3.
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Insurance Law. Representation and consultation in all matters between the member and any insurance company with which the member has dealings or relations.
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Insurance Law. On 18 September 2OOS the Par1iament adopted Insurance Law No Ih›1VSV. †his law is aimed at approximating the legal norms governing insurance and insurance mediation activities to the EU law and at elimination of existing restrictions for the insurance market of the flepublic of fithuania to enter the EU internal market from the date of accession to EU. †he law establishes a number of novelties. Article 15 sets forth that the decision on issue of a licence to engage in insurance activities must be taken and written notification to that effect must be given to the applicant within 6 months from the day of application to issue the licence to engage in insurance activities and filing of all the documents, i.e. the term for issue of the licence is prolonged. Article 40 of the law establishes that in case of worsening of the financial status of the insurance company, the latter must, at the request of the Supervisory Commission, immediately increase the existing liquidity reserve or, in the procedure determined by the Supervisory Commission, must submit to the Supervisory Commission the plan of the established form of restoration of the insurance company’s stable financial status. †he law sets forth the possibility to apply additional supervision in respect of insurance companies. Additional supervision requirements are applied to an insurance company which is a participating enterprise in at least one more insurance company, an insurance company of another EU member state, a reinsurance company or a foreign state insurance company. †he application of additional supervision requirements is aimed at avoiding the “double gearing” phenomenon when the same elements of the liquidity reserve (assets) are included in the liquidity reserve of several companies. Pursuant to Article 48, the Supervisory Commission is entitled to information about transactions within the group of companies. Based on such information, the adjusted liquidity reserve of the insurance company is calculated. †he requirements set forth in section five of chapter two should be observed by insurance companies and insurance mediators that intend to perform activities in other EU member states. †he activities of insurance companies and insurance mediators of other EU member states in the flepublic of fithuania are regulated in chapter three. Article 56 establishes three basic forms of activities. It is stipulated that the insurance companies of EU member states are entitled in the flepublic of fithua...
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Related to Insurance Law

  • Hazard Insurance All buildings or other customarily insured improvements upon the Mortgaged Property are insured by an insurer acceptable under the Fxxxxx Mae Guides, against loss by fire, hazards of extended coverage and such other hazards as are provided for in the Fxxxxx Mxx Guides or by the Fxxxxxx Mac Guides, in an amount representing coverage not less than the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loans and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the project. If required by the FDPA, the Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and conforming to Fxxxxx Mxx and Fxxxxxx Mac requirements, in an amount not less than the amount required by the FDPA. Such policy was issued by an insurer acceptable under the Fxxxxx Mae Guides or the Fxxxxxx Mac Guides. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor's cost and expense, and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor's cost and expense and to seek reimbursement therefor from the Mortgagor. All such standard hazard and flood policies are in full force and effect and on the date of origination contained a standard mortgagee clause naming the Seller and its successors in interest and assigns as loss payee; such clause is still in effect and all premiums due on any such policies have been paid in full. No originator, seller, prior owner of the Mortgage Loan, borrower or any other Person, has engaged in any act or omission that would impair the coverage of any such insurance policy, the benefits of the endorsement provided for therein, or the validity and binding effect of either, including, without limitation, the provision or receipt of any unlawful fee, commission, kickback, or other compensation or value of any kind. No action, inaction, or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any such insurance policies, regardless of the cause of such failure of coverage.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Malpractice Insurance During the entire contract period, and at the Contractor's own expense in whole or in part from contract funds, Contractor shall ensure that each of its attorneys has malpractice insurance coverage in the minimum amount required by the Oregon State Bar. Contractor shall provide proof of such insurance to PDSC on request.

  • Insurance Licenses Any one or more Insurance Licenses of the Company or any of its Subsidiaries shall be suspended, limited or terminated or shall not be renewed, or any other action shall be taken by any Governmental Authority, and such suspension, limitation, termination, non-renewal or action, either individually or in the aggregate, has had, or would reasonably be expected to have, a Material Adverse Effect; or

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Insurance Required The Engineer shall secure the insurance specified below. The insurance shall be issued by insurance company(s) acceptable to the City and may be in a policy or policies of insurance, primary or excess. Certificates of all required insurance including any policy endorsements shall be provided to the City prior to or upon the execution of this Agreement.

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