Insurance Proceeds definition: Copy, customize, and use instantly
Introduction
The term "Insurance Proceeds" refers to the funds received from an insurance policy as a result of a claim made for a covered loss, damage, or event. These proceeds are intended to compensate the insured for financial losses incurred and are governed by the terms and conditions of the applicable insurance policy. Insurance proceeds are commonly referenced in loan agreements, project finance contracts, and other legal documents where insurance is a critical risk mitigation tool.
Below are various examples of how "Insurance Proceeds" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Insurance Proceeds" in loan agreements
This definition ties "Insurance Proceeds" to collateral restoration.
"Insurance Proceeds" means all amounts received by the borrower or lender from an insurance policy in connection with damage, destruction, or loss of the collateral securing this loan.
Definition of "Insurance Proceeds" in construction contracts
This definition connects "Insurance Proceeds" to project restoration.
"Insurance Proceeds" refers to any amounts received under an insurance policy to cover losses, damages, or costs related to the construction project, including rebuilding or repairs.
Definition of "Insurance Proceeds" in M&A agreements
This definition links "Insurance Proceeds" to transactional indemnity.
"Insurance Proceeds" includes all funds received under an insurance policy that indemnifies the buyer or seller for claims or liabilities arising from the transaction.
Definition of "Insurance Proceeds" in property agreements
This definition applies "Insurance Proceeds" to property restoration.
"Insurance Proceeds" means any amounts received under an insurance policy for the repair, restoration, or replacement of damaged or destroyed property.
Definition of "Insurance Proceeds" in project finance agreements
This definition ties "Insurance Proceeds" to project-specific insurance claims.
"Insurance Proceeds" means any amounts received under insurance policies covering losses or damages to the project or its assets, including proceeds used for project restoration or repayment of project debt.
Definition of "Insurance Proceeds" in business interruption insurance
This definition connects "Insurance Proceeds" to operational losses.
"Insurance Proceeds" refers to the funds received under a business interruption insurance policy to compensate for lost revenue or profits due to a covered event.
Definition of "Insurance Proceeds" in secured financing agreements
This definition links "Insurance Proceeds" to collateral protection.
"Insurance Proceeds" includes all funds received from insurance policies covering the secured collateral, to be applied toward restoration, replacement, or debt repayment as specified in this agreement.
Definition of "Insurance Proceeds" in environmental liability agreements
This definition ties "Insurance Proceeds" to environmental remediation.
"Insurance Proceeds" refers to any amounts recovered under insurance policies to cover costs associated with environmental cleanup, remediation, or liability.
Definition of "Insurance Proceeds" in lease agreements
This definition connects "Insurance Proceeds" to tenant or landlord obligations.
"Insurance Proceeds" means all funds received under an insurance policy related to damage or destruction of the leased property, to be used for repair, restoration, or other purposes as specified in the lease.
Definition of "Insurance Proceeds" in supply chain agreements
This definition links "Insurance Proceeds" to goods-in-transit claims.
"Insurance Proceeds" includes any funds received under an insurance policy covering losses, damages, or theft of goods during transit under the terms of this agreement.
Definition of "Insurance Proceeds" in real estate financing agreements
This definition ties "Insurance Proceeds" to property-backed loans.
"Insurance Proceeds" refers to amounts received under insurance policies covering real property, to be applied to repair, restoration, or repayment of outstanding loan obligations.
Definition of "Insurance Proceeds" in shareholder agreements
This definition connects "Insurance Proceeds" to key-person insurance.
"Insurance Proceeds" means any funds received from key-person life insurance policies, to be distributed or used as specified in the shareholder agreement.
Definition of "Insurance Proceeds" in maritime contracts
This definition links "Insurance Proceeds" to vessel damages.
"Insurance Proceeds" includes any funds recovered under marine insurance policies for damages, losses, or repairs related to vessels or cargo.
Definition of "Insurance Proceeds" in renewable energy agreements
This definition ties "Insurance Proceeds" to project sustainability.
"Insurance Proceeds" means funds received under insurance policies covering renewable energy facilities, including proceeds for restoring damaged equipment or infrastructure.
Definition of "Insurance Proceeds" in employee benefit agreements
This definition connects "Insurance Proceeds" to group insurance claims.
"Insurance Proceeds" refers to any amounts received under employee group insurance policies for claims related to life, health, or disability coverage.
Definition of "Insurance Proceeds" in product liability agreements
This definition links "Insurance Proceeds" to consumer claims.
"Insurance Proceeds" includes any funds received under product liability insurance policies to compensate for losses, damages, or claims arising from defective products.
Definition of "Insurance Proceeds" in joint venture agreements
This definition ties "Insurance Proceeds" to shared assets.
"Insurance Proceeds" means any amounts recovered under insurance policies covering joint venture assets, to be allocated among the parties as specified in the agreement.
Definition of "Insurance Proceeds" in aviation financing agreements
This definition connects "Insurance Proceeds" to aircraft damages.
"Insurance Proceeds" refers to funds recovered under aviation insurance policies for losses or damages to aircraft or related equipment.
Definition of "Insurance Proceeds" in intellectual property agreements
This definition links "Insurance Proceeds" to IP asset protection.
"Insurance Proceeds" includes any funds received under insurance policies covering intellectual property claims, damages, or losses.
Definition of "Insurance Proceeds" in casualty loss agreements
This definition ties "Insurance Proceeds" to unforeseen damages.
"Insurance Proceeds" means any funds received from insurance policies covering casualty losses, including damages from fire, flood, or other natural disasters.
Definition of "Insurance Proceeds" in regulatory compliance agreements
This definition connects "Insurance Proceeds" to statutory requirements.
"Insurance Proceeds" refers to any amounts received under insurance policies required by regulatory authorities to address specific risks or liabilities.
Definition of "Insurance Proceeds" in construction loan agreements
This definition links "Insurance Proceeds" to construction-related claims.
"Insurance Proceeds" includes funds received under insurance policies covering construction project risks, such as damages or delays, to be applied in accordance with the loan terms.
Definition of "Insurance Proceeds" in cross-border agreements
This definition ties "Insurance Proceeds" to international claims.
"Insurance Proceeds" means any amounts recovered under insurance policies for cross-border transactions, including coverage for goods, liabilities, or property located in multiple jurisdictions.
Definition of "Insurance Proceeds" in cyber liability agreements
This definition connects "Insurance Proceeds" to data breaches.
"Insurance Proceeds" includes funds received under cyber liability insurance policies to address losses or damages resulting from data breaches, cybersecurity incidents, or system failures.
Definition of "Insurance Proceeds" in liability insurance agreements
This definition ties "Insurance Proceeds" to third-party claims.
"Insurance Proceeds" means any amounts recovered under liability insurance policies to compensate third parties for claims related to bodily injury, property damage, or other covered liabilities.
Definition of "Insurance Proceeds" in disaster recovery agreements
This definition connects "Insurance Proceeds" to recovery funding.
"Insurance Proceeds" refers to any funds received under insurance policies to cover damages, losses, or expenses associated with disaster recovery and rebuilding efforts.
Definition of "Insurance Proceeds" in indemnity agreements
This definition links "Insurance Proceeds" to indemnification obligations.
"Insurance Proceeds" includes any funds recovered from insurance policies to fulfill indemnification obligations arising under this agreement.
Definition of "Insurance Proceeds" in automotive finance agreements
This definition ties "Insurance Proceeds" to vehicle-related claims.
"Insurance Proceeds" refers to amounts received under insurance policies covering damages or losses to financed or leased vehicles, applied as specified in the financing agreement.
Definition of "Insurance Proceeds" in reinsurance agreements
This definition connects "Insurance Proceeds" to reinsurer obligations.
"Insurance Proceeds" means any funds paid by a reinsurer to the primary insurer under reinsurance policies, covering claims or losses as specified in the reinsurance contract.
Definition of "Insurance Proceeds" in personal injury settlements
This definition links "Insurance Proceeds" to claimant compensation.
"Insurance Proceeds" includes funds paid under insurance policies to compensate claimants for personal injury, medical expenses, or other related damages.
Definition of "Insurance Proceeds" in agriculture insurance agreements
This definition ties "Insurance Proceeds" to crop or livestock losses.
"Insurance Proceeds" refers to funds received under insurance policies covering crop failures, livestock losses, or other agricultural risks.
Definition of "Insurance Proceeds" in escrow agreements
This definition connects "Insurance Proceeds" to held funds.
"Insurance Proceeds" means any amounts recovered under insurance policies and held in escrow for future application or disbursement as specified in this agreement.
Definition of "Insurance Proceeds" in landlord-tenant agreements
This definition links "Insurance Proceeds" to rental property claims.
"Insurance Proceeds" includes amounts received under insurance policies covering damages to leased premises, allocated for repair, restoration, or other uses as specified in the lease.
Definition of "Insurance Proceeds" in employee compensation plans
This definition ties "Insurance Proceeds" to workplace insurance.
"Insurance Proceeds" refers to any funds recovered under workplace insurance policies, such as workers' compensation or employer liability insurance.
Definition of "Insurance Proceeds" in aviation liability agreements
This definition connects "Insurance Proceeds" to aviation claims.
"Insurance Proceeds" means any amounts recovered under aviation insurance policies covering liability for accidents, damages, or third-party claims.
Definition of "Insurance Proceeds" in marine insurance contracts
This definition links "Insurance Proceeds" to maritime risks.
"Insurance Proceeds" refers to funds received under marine insurance policies covering losses or damages to vessels, cargo, or other marine assets.
Definition of "Insurance Proceeds" in credit risk agreements
This definition ties "Insurance Proceeds" to loan defaults.
"Insurance Proceeds" includes funds paid under credit insurance policies to cover losses arising from borrower defaults or other credit risks.
Definition of "Insurance Proceeds" in casualty insurance policies
This definition connects "Insurance Proceeds" to unforeseen events.
"Insurance Proceeds" means amounts paid under casualty insurance policies for damages or losses resulting from unexpected events such as fire, theft, or natural disasters.
Definition of "Insurance Proceeds" in commercial property agreements
This definition links "Insurance Proceeds" to building damages.
"Insurance Proceeds" refers to amounts recovered under insurance policies covering damage to commercial buildings or facilities, allocated for repairs or debt repayment.
Definition of "Insurance Proceeds" in group health insurance policies
This definition ties "Insurance Proceeds" to healthcare reimbursements.
"Insurance Proceeds" includes any amounts received under group health insurance policies for medical expenses or reimbursements for covered treatments.
Definition of "Insurance Proceeds" in corporate indemnity agreements
This definition connects "Insurance Proceeds" to corporate liabilities.
"Insurance Proceeds" means funds recovered under corporate liability insurance policies to address claims or losses arising from the company's operations or management.
Definition of "Insurance Proceeds" in life insurance policies
This definition links "Insurance Proceeds" to beneficiary payments.
"Insurance Proceeds" refers to the amounts paid to beneficiaries under life insurance policies upon the death of the insured party.
Definition of "Insurance Proceeds" in renewable energy insurance
This definition ties "Insurance Proceeds" to energy asset protection.
"Insurance Proceeds" includes amounts received under insurance policies covering damages to renewable energy assets such as wind turbines or solar panels.
Definition of "Insurance Proceeds" in shared asset agreements
This definition connects "Insurance Proceeds" to co-owned property claims.
"Insurance Proceeds" refers to funds recovered under insurance policies covering shared or co-owned assets, allocated among the owners as specified in the agreement.
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.