Acceptable Insurance Default definition: Copy, customize, and use instantly
Introduction
The term "Acceptable Insurance Default" refers to a situation where an insurance policy does not meet the agreed-upon terms or coverage levels outlined in a contract. It is essential for ensuring that all parties involved are aware of the insurance requirements and the consequences of any failure to maintain appropriate coverage.
Below are various examples of how "Acceptable Insurance Default" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Acceptable Insurance Default" as a breach of coverage requirements
This definition ties "Acceptable Insurance Default" to the specific breach of coverage that would trigger consequences under the agreement.
"Acceptable Insurance Default" means the failure to maintain insurance coverage as specified in this Agreement, including but not limited to failure to provide the required proof of insurance, or the existence of policy lapses exceeding thirty (30) days.
Definition of "Acceptable Insurance Default" as a failure to comply with coverage types
This definition connects "Acceptable Insurance Default" to specific coverage types that must be maintained under the contract.
"Acceptable Insurance Default" refers to the failure of the insured party to maintain the necessary types of coverage, such as liability or property insurance, in accordance with the contractual terms.
Definition of "Acceptable Insurance Default" as a notification issue
This definition links "Acceptable Insurance Default" to the failure to notify parties about changes to insurance policies as required.
"Acceptable Insurance Default" means the failure to notify the other parties of any changes or cancellations of the insurance policies, as stipulated in the contract.
Definition of "Acceptable Insurance Default" as a policyholder’s failure to remedy insurance gaps
This definition applies "Acceptable Insurance Default" to a situation where the policyholder fails to correct any identified gaps in coverage.
"Acceptable Insurance Default" refers to the failure to remedy any identified gaps in the insurance coverage within the timeframes specified under this agreement.
Definition of "Acceptable Insurance Default" as a failure to meet policy renewal requirements
This definition ties "Acceptable Insurance Default" to the failure to renew an insurance policy or meet renewal requirements.
"Acceptable Insurance Default" means the failure to renew the insurance policy or otherwise fail to meet the policy’s renewal requirements under the terms of this agreement.
Definition of "Acceptable Insurance Default" as a failure to comply with minimum coverage levels
This definition connects "Acceptable Insurance Default" to the specific minimum insurance coverage that must be maintained.
"Acceptable Insurance Default" refers to the failure of the insured to maintain the minimum required insurance coverage levels as outlined in the terms of the contract.
Definition of "Acceptable Insurance Default" as a breach due to inadequate limits of liability
This definition links "Acceptable Insurance Default" to the failure to maintain adequate liability coverage under the agreement.
"Acceptable Insurance Default" means the failure to maintain the necessary liability limits as specified in the agreement, leading to potential breaches of contractual obligations.
Definition of "Acceptable Insurance Default" as a failure to submit proof of insurance
This definition applies "Acceptable Insurance Default" to the failure to provide necessary proof of coverage.
"Acceptable Insurance Default" refers to the failure of the policyholder to provide the requested proof of insurance within the time specified in the contract.
Definition of "Acceptable Insurance Default" as a delay in coverage reinstatement
This definition ties "Acceptable Insurance Default" to the failure to reinstate insurance coverage promptly after it lapses.
"Acceptable Insurance Default" means the failure to reinstate an insurance policy within thirty (30) days after the coverage has lapsed or been canceled.
Definition of "Acceptable Insurance Default" as an overall failure to adhere to insurance obligations
This definition applies "Acceptable Insurance Default" to any failure in meeting the insurance obligations stipulated in the contract.
"Acceptable Insurance Default" refers to any failure of the insured to meet their insurance obligations under this Agreement, whether due to non-payment, cancellation, or insufficient coverage.
Definition of "Acceptable Insurance Default" as a failure to provide continuous coverage
This definition ties "Acceptable Insurance Default" to the failure of maintaining continuous insurance coverage.
"Acceptable Insurance Default" means the failure to provide continuous insurance coverage, causing a lapse in coverage that exceeds the maximum allowable period as stipulated in the agreement.
Definition of "Acceptable Insurance Default" as an incorrect insurance policy
This definition connects "Acceptable Insurance Default" to the provision of incorrect or invalid insurance policies.
"Acceptable Insurance Default" refers to the submission of an incorrect or invalid insurance policy that does not meet the requirements set out in this Agreement.
Definition of "Acceptable Insurance Default" as insufficient coverage limits
This definition links "Acceptable Insurance Default" to a situation where the coverage limits are insufficient.
"Acceptable Insurance Default" means when the insurance coverage limits provided are insufficient to cover the risks outlined in this Agreement, leading to a breach of terms.
Definition of "Acceptable Insurance Default" as the failure to maintain required endorsements
This definition applies "Acceptable Insurance Default" to the failure to maintain required endorsements in an insurance policy.
"Acceptable Insurance Default" refers to the failure to maintain the required endorsements in the insurance policy, which are necessary for compliance with the terms of the contract.
Definition of "Acceptable Insurance Default" as the failure to meet insurer qualifications
This definition ties "Acceptable Insurance Default" to the failure to use an insurer that meets the agreed-upon qualifications.
"Acceptable Insurance Default" means the failure to maintain an insurance policy with an insurer that qualifies under the criteria set forth in this Agreement.
Definition of "Acceptable Insurance Default" as failure to notify of policy changes
This definition connects "Acceptable Insurance Default" to the failure to notify the parties of any changes in the insurance policy.
"Acceptable Insurance Default" refers to the failure to notify the other parties of any changes in the insurance policy, including any adjustments to coverage or premiums.
Definition of "Acceptable Insurance Default" as a breach due to non-payment of premiums
This definition links "Acceptable Insurance Default" to the failure to pay insurance premiums.
"Acceptable Insurance Default" means the failure to pay insurance premiums on time, leading to the suspension or cancellation of coverage as specified in the agreement.
Definition of "Acceptable Insurance Default" as failure to provide timely documentation
This definition applies "Acceptable Insurance Default" to the failure to provide documentation or proof of insurance coverage on time.
"Acceptable Insurance Default" refers to the failure to provide the necessary documentation or proof of insurance within the timeframe required under the terms of this Agreement.
Definition of "Acceptable Insurance Default" as failure to comply with renewal procedures
This definition ties "Acceptable Insurance Default" to the failure to comply with policy renewal procedures.
"Acceptable Insurance Default" means the failure to comply with the renewal procedures for an insurance policy, including failure to submit necessary renewal applications or documents within the specified time.
Definition of "Acceptable Insurance Default" as failure to maintain specified insurance types
This definition connects "Acceptable Insurance Default" to the failure to maintain specified types of insurance, such as liability or property insurance.
"Acceptable Insurance Default" refers to the failure to maintain the specified types of insurance required by this Agreement, including general liability or property coverage.
Definition of "Acceptable Insurance Default" as a policy lapse due to failure to comply with underwriting requirements
This definition links "Acceptable Insurance Default" to the failure to meet underwriting requirements, resulting in a policy lapse.
"Acceptable Insurance Default" means the failure to meet underwriting requirements, leading to a lapse in the insurance policy.
Definition of "Acceptable Insurance Default" as the absence of insurance during a critical event
This definition applies "Acceptable Insurance Default" to the absence of coverage during a critical period.
"Acceptable Insurance Default" refers to the failure to provide insurance coverage during a critical event or period, such as during the term of this Agreement or following a breach event.
Definition of "Acceptable Insurance Default" as the failure to secure adequate reinsurance
This definition ties "Acceptable Insurance Default" to the failure to secure adequate reinsurance coverage.
"Acceptable Insurance Default" means the failure to secure adequate reinsurance coverage, as required under the provisions of this Agreement.
Definition of "Acceptable Insurance Default" as non-compliance with coverage limits
This definition links "Acceptable Insurance Default" to the failure to comply with the required coverage limits.
"Acceptable Insurance Default" refers to the failure to comply with the coverage limits specified in the Agreement, which may result in the nullification of the policy.
Definition of "Acceptable Insurance Default" as the failure to meet contractual terms related to insurance
This definition connects "Acceptable Insurance Default" to the failure to meet various contractual terms related to insurance.
"Acceptable Insurance Default" means the failure to meet any of the terms outlined in the Agreement related to maintaining or providing insurance coverage
Definition of "Acceptable Insurance Default" as insufficient coverage during claims
This definition ties "Acceptable Insurance Default" to a failure to have sufficient coverage during a claim.
"Acceptable Insurance Default" means the failure to provide adequate coverage during claims, resulting in a shortfall in coverage as required by the Agreement.
Definition of "Acceptable Insurance Default" as policy cancellation
This definition connects "Acceptable Insurance Default" to the cancellation of an insurance policy.
"Acceptable Insurance Default" refers to the cancellation of an insurance policy due to non-compliance with the policyholder’s obligations under this Agreement.
Definition of "Acceptable Insurance Default" as failure to meet specific policy requirements
This definition links "Acceptable Insurance Default" to the failure to meet specific policy requirements, such as coverage type or provider.
"Acceptable Insurance Default" means the failure to meet specific insurance policy requirements, such as the failure to provide the necessary coverage type or to use an approved insurance provider.
Definition of "Acceptable Insurance Default" as non-compliance with reporting obligations
This definition applies "Acceptable Insurance Default" to the failure to comply with reporting obligations related to insurance.
"Acceptable Insurance Default" refers to the failure to report relevant changes or updates to insurance coverage as specified in the terms of this Agreement.
Definition of "Acceptable Insurance Default" as failure to notify about insurance disputes
This definition ties "Acceptable Insurance Default" to the failure to notify parties about disputes related to insurance coverage.
"Acceptable Insurance Default" means the failure to notify the other parties regarding any insurance disputes or claims under the insurance policy.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.