Insured Retention. Any self-insured retentions must be declared to and approved by STA prior to execution of this Agreement. STA reserves the right to require that self-insured retentions be lowered, eliminated or replaced by a deductible. Self-insurance or self-insured retentions will not be considered to comply with these specifications unless approved in writing by STA prior to execution of this Agreement.
Insured Retention a. Our obligation to indemnify the insured applies only when the amount of loss and claim expense exceeds the Self-Insured Retention amount stated in the Common Policy Declarations per accident.
Insured Retention. Any self-insured retention in excess of $5,000 must be declared to and approved by MST. To apply for approval for a level of retention in excess of $10,000 CONTRACTOR must provide a current financial statement documenting the ability to pay claims falling within the self-insured retention. At the option of MST, either: the insurer shall reduce or eliminate such self-insured retention as respects MST, its officers, officials, employees and volunteers; or the propose/bidder shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses.
Insured Retention. 7. The Self-Insured Retention shall be subject to the following provisions:
Insured Retention. Any self-insured retentions must be declared to and approved by STA prior to execution of this Agreement. STA reserves the right to require that self-insured retentions be lowered, eliminated or replaced by a deductible. Self-insurance or self-insured retentions will not be considered to comply with these specifications unless approved in writing by STA. Primary & Noncontributory. Contractor’s insurance shall be considered primary and noncontributory in the event of a loss, damage or suit. STA’s own comprehensive general liability policy will be considered excess coverage in respect to STA. Additionally, the Contractor’s commercial general liability policy must provide cross-liability coverage as would be achieved under a standard ISO separation of insureds clause.
Insured Retention. Rail Operator shall be responsible, at its own expense, for payment of a self-insured retention, including defense costs and other claim expenses, for losses payable under the PPL Policy that are attributable to Rail Operator’s acts, errors, or omissions, or the acts, errors, or omissions of any person or entity for whom Rail Operator may be responsible. The amount of the self-insured retention shall be based on the amount of Railroad Operator’s annual practice xxxxxxxx, all determined at the time the Agreement is executed, as follows: $50,000 per claim for PPL Insureds whose firms have annual xxxxxxxx under $20,000,000; $1,000,000 per claim for PPL Insureds whose firms have annual xxxxxxxx over $20,000,000.
