Examples of Underlying Policy(ies in a sentence
In the event of the Insured’s failure to maintain the Underlying Policy/ies in full force and effect and except with respect to the aforementioned aggregate reduction, coverage hereunder shall not be invalid, but shall apply to the same extent that it would have applied had there been compliance with this condition.
Underlying Limitmeans the sum total of the limits of liability or indemnity provided by the Underlying Policy(ies), which together form the amount in excess of which this Policy applies, as specified in the Schedule.
MAINTENANCE OF UNDERLYING INSURANCE - It is a condition of this Policy that the Underlying Policy/ies (as stated in Items 2.
Underlying Policy(ies) The Insured shall maintain in full effect the underlying policy(ies) and renewals or replacements thereof with limits of indemnity as stated in the attached Schedule during this Period of Insurance, except for any reduction or exhaustion of the aggregate limit or limits contained in such policies solely by payment of claims arising out of losses which happened during the Period of Insurance.
Notice of cancellation or non-renewal of any of the Underlying Policies duly issued to the Insured by the applicable insurer(s) of such Underlying Policy(ies) shall serve as notice of the cancellation or nonrenewal of this Policy by the Insurer.
This Condition shall not apply in respect of a reduction, or the exhaustion of the Underlying Limit, where it operates on an aggregate basis and becomes reduced, or exhausted by reason of any claim or claims made upon the Underlying Policy(ies).
Notwithstanding any other provision of this Policy to the contrary, when a DIC Event has occurred, this Policy shall, subject to its terms, conditions and exclusions, drop down to the attachment point of the Underlying Policy that is the subject of the DIC Event and will pay Loss on behalf of the Insured(s) up to the Limit of Liability stated in Item 3 of the Declarations; provided, however, that this Policy will remain excess of the limits of liability of any Underlying Policy(ies) which pays such Loss.
In the event of the depletion of the limits of liability of the Underlying Policy(ies) solely as a result of payment of losses covered thereunder, by the Underlying Insurers and/or the Insureds, this Policy shall, subject to the Limit of Liability set forth in Item 3 of the Declarations and to the other terms of this Policy, continue to apply for subsequent losses as excess insurance over the amount of insurance remaining under such Underlying Policy.
Providers that receive a score indicating an On-Site Follow-Up Review will be required to participate in Family Support Training Technical Assistance to develop a plan/process to correct or modify the Family Support Program to ensure compliance with DBHDD Policies, Family Support Policies and Operational Standards.
It goes on “provided that if the Underlying Policy(ies) refuse to agree to any such settlement, Insurers may require the Insured to exercise all rights available to the Insured under the Underlying Policy(ies) not to be required to contest the claim” (…).