Self-Insured Retention. 1. 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.
Self-Insured Retention. Any self-insured retentions in excess of $100,000 must be declared on the Certificate of insurance or other documentation provided to City and must be approved by the City Risk Manager.
Self-Insured Retention. If the commercial general liability policy contains a Self-Insured Retention (SIR), the amount of the SIR must be clearly identified on the certificate of insurance, but in no event shall it exceed $25,000. Contractor reserves the right to reject any policy utilizing an SIR or require the Subcontractor to provide a bond securing an amount equal to the SIR at no additional cost to Contractor. Subcontractor shall satisfy any SIR immediately upon Contractor’s demand to affect coverage for claims arising out of or in connection with Subcontractor’s operations under this Agreement. Subcontractor’s failure to immediately satisfy the SIR upon Contractor’s demand shall constitute a material breach of this Subcontract Agreement. The policy provision or additional insured endorsement providing additional insured coverage to Contractor shall expressly provide that Contractor, as an Additional Insured, shall have the right to pay any SIR under the policy. Accordingly, language similar to that provided below is expressly prohibited: “Payments by others, including but not limited to additional insureds or insurers, do not serve to satisfy the self-insured retention. Satisfaction of the self-insured retention as a condition precedent to our liability applies regardless of insolvency or bankruptcy by [named insured].” Subcontractor shall be fully responsible for any and all amounts paid by Contractor to satisfy the SIR, and Contractor shall have the right to immediately deduct such amounts from any amounts otherwise due and owing to Subcontractor.
Self-Insured Retention. The Sublessee agrees that there shall be no unfunded Self-Insured Retention (SIR). Any funded SIR to cover the deductible portion of a claim shall be limited to an amount not greater than Fifty Thousand Dollars ($50,000.00) per incident except in the case of SIR for Worker's Compensation where the deductible portion of a claim shall be limited to an amount not greater than One Hundred Thousand Dollars ($100,000.00) per incident.
Self-Insured Retention. Any self-insured retentions in excess of $100,000 must be declared on the Certificate of insurance or other documentation provided to District and must be approved by the District Risk Manager.
Self-Insured Retention. The Self Insured Retention stated in the Declarations will apply separately to each and every Loss. The Self Insured Retention is to be borne by the Insured and remain uninsured.
Self-Insured Retention. The certificate of insurance must disclose the actual amount of any deductible or self-insured retention, or lack thereof, for all coverages required herein. Any self-insured retention or deductible in excess of $250,000 must be declared to and approved by VTA. If TOWN is a governmental authority such as a state, municipality or special district, self-insurance is permitted. To apply for approval for a level of retention or deductible in excess of $250,000, TOWN must provide a current financial report including balance sheets and income statements for the past three years, so that VTA can assess TOWN’s ability to pay claims falling within the self-insured retention or deductible. Upon review of the financial report, if deemed necessary by VTA in its sole discretion, VTA may elect one of the following options: to accept the existing self- insured retention or deductible; require the insurer to reduce or eliminate the self-insured retention or deductible as respects VTA, its directors, officers, officials, employees and volunteers; or to require TOWN to procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. Applicable costs resulting therefrom will be borne solely by TOWN. TOWN may request execution of a nondisclosure agreement prior to submission of financial reports.
Self-Insured Retention. If any of the insurance policies required under this Agreement includes a self-insured retention that must be paid by a named insured as a precondition of the insurer’s liability, or which has the effect of providing that payments of the self-insured retention by others, including additional insureds or insurers, do not serve to satisfy the self-insured retention, such provisions must be modified by special endorsement so as to not apply to the additional insured coverage required by this Agreement so as to not prevent any of the Parties from satisfying or paying the self-insured retention required to be paid as a precondition to the insurer’s liability.
Self-Insured Retention. The certificate of insurance must disclose the actual amount of any deductible or self-insured retention for all coverages required herein. Any self-insured retention or deductible must be declared to and approved by TOWN and VTA. To apply for approval for a level of retention or deductible, CONTRACTOR must provide a current financial report including balance sheets and income statements for the past three years, so that TOWN and VTA can assess CONTRACTOR’s ability to pay claims falling within the self- insured retention or deductible. Upon review of the financial report, if deemed necessary by TOWN and VTA in their sole discretion, TOWN and VTA may elect one of the following options: to accept the existing self-insured retention or deductible; require the insurer to reduce or eliminate the self- insured retention or deductible as respects TOWN and VTA, its directors, officers, officials, employees and volunteers; or to require CONTRACTOR to procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. Applicable costs resulting therefrom will be borne solely by CONTRACTOR. CONTRACTOR may request execution of a nondisclosure agreement prior to submission of financial reports.
Self-Insured Retention. Service Provider’s commercial general liability insurance policies shall not be subject to a self-insured retention exceeding $10,000, if the value of the Contract is less than $1,000,000, and not be subject to a self-insured retention exceeding $100,000, if the Contract is $1,000,000 or more, unless approved by the City Manager. Service Provider’s automobile liability insurance policies shall not be subject to a self-insured retention exceeding $10,000, unless approved by the City Manager.
