Underlying Limit definition

Underlying Limit means an amount equal to the aggregate of all limits of liability specified in the Schedule for all Underlying Policies, plus the uninsured retention, if any, applicable to the Primary Policy.

Underlying Limit means the maximum amount of cover payable under the terms of your main travel insurance policy.

Underlying Limit means the aggregate sum of all limits of liability of all Underlying Insurance.

Examples of Underlying Limit in a sentence

• In no event shall the Insurer be liable to pay loss under this policy until the total amount of the Underlying Limit of Liability, as stated in Item 7(E) of the Declarations, has been paid solely by reason of the payment of loss.

• Subject to the Limit of Liability, the Insurers shall pay to or on behalf of the Insured that proportion of Loss which exceeds the Underlying Limit.

• In the event of the reduction of the amount of indemnity available under any Underlying Policy by reason of partial erosion of the Underlying Limit (and in determining the existence and extent of such erosion the provisions of clause 1.3 shall apply) this Policy shall, subject to the Limit of Liability and to the other terms, conditions and limitations of this Policy, continue to be available to pay that proportion of Loss which exceeds the amount of indemnity remaining under the Underlying Policy(ies).

• The Insurer shall only be liable to make payment under this policy after the total amount of the Underlying Limit of Liability as stated in Item 7(E) of the Declarations has been paid solely by reason of the payment of loss.

• However, in such circumstances the Insurers shall pay Loss only to the extent that, in the absence of agreement of the kind referred to in the previous sentence, the Loss of the Insured would have exceeded the Underlying Limit.

More Definitions of Underlying Limit

Underlying Limit means the cumulative total of the limits of liability of the insurer(s) of the Underlying Policy(ies) applicable to any loss or liability (as applicable) as set out in Item 5 of the Schedule.

Underlying Limit means an amount equal to the sum of:

Underlying Limit means the amount equal to the aggregate of all limits of liability as set forth in Item 4. of the Declarations for all Underlying Insurance plus the applicable uninsured retention, if any, under the Primary Policy. MAINTENANCE OF UNDERLYING INSURANCE

Underlying Limit means an amount equal to the aggregate of all limits of liability, as set forth in Item 7. of the Declarations, for all Underlying Policies, plus the retention or deductible, if any, applicable under the Primary Policy.

Underlying Limit means an amount equal to the combined total of all aggregate limits of liability plus the amount(s) of any applicable uninsured deductibles or retention(s), if any, in the Underlying Insurance payable on account of any covered losses, whether payable under any Underlying Insurance or payable under any insurance policy issued to a foreign subsidiary of the Insured where such payment would correspondingly erode the applicable limit(s) of liability contained in any such Underlying Insurance.

Underlying Limit means the required minimum insurance coverage shown on the Declarations Page. It also includes any general or replacement policies or new policies for new acquisitions providing the required minimum is maintained.

Underlying Limit means the total of the applicable limits of all “underlying insurance” less the amount, if any, by which the applicable aggregate limit of the applicable policy listed in the Schedule of Underlying Insurance has been reduced solely by payment of loss for “occurrences” during the policy period.