Examples of Related Insurance Claim in a sentence
To ensure that such a reduction is accomplished, the Settling Insurer Entities shall be entitled to assert this provision as a defense to any action against them brought by any Other Insurer and shall be entitled to request that the court or appropriate tribunal issue such orders as are necessary to effectuate the reduction to protect the Settling Insurer Entities from any liability for the Related Insurance Claim.
If the Trust, a Protected Party, a Tort Claimant, or any other Person bound by the Plan obtains a judgment against the Other Insurer, the judgment shall automatically be reduced by the amount, if any, that all Settling Insurer Entities would have been liable to pay such Other Insurer as a result of the Other Insurer’s Related Insurance Claim against a Settling Insurer Entity(ies).
If, for any reason, any Other Insurer asserts a claim against a Settling Insurer Entity that it is entitled to obtain a sum certain from any of the Settling Insurer Entities as a result of a Related Insurance Claim, the Person who obtained a judgment or settlement against the Other Insurer shall reduce its judgment or Claim against, or settlement with, such Other Insurer to the extent necessary to satisfy such Related Insurance Claims against the Settling Insurer Entities.
In any proceeding, suit, or action relating to a Protected Party or the Trust in which a Non-Settling Insurer has asserted, asserts, or could assert any Related Insurance Claim against a Settling Insurer, then any judgment obtained against such Non-Settling Insurer shall be automatically reduced by the amount, if any, that the Settling Insurers would have been liable to pay such Non-Settling Insurer as a result of that Insurer’s Related Insurance Claim.
The foregoing shall be the Settling Insurer’s sole remedy except that in the event the court refuses to reduce the liability of the Non-Settling Insurer, then once the order establishing the Settling Insurer’s liability for the Related Insurance Claim is a Final Order, the Trust shall indemnify the Settling Insurer for such amount of such Related Insurance Claim.