0
A difference in condition clause is a provision of a D&O Liability Insurance Contract, which serves as patch for the gaps in coverage of liability of directors and officers of a company. Normally, a company has contractual or statutory obligations to indemnify for damages incurred by any third party as a result of conduct of its directors or officers, but in some circumstances it may refuse to acknowledge their responsibility for particular actions or just be financially unable to comply with its indemnity obligations. It could also happen that the liability described above is covered by another policy, contracted by the company, but the isurer fails to pay for whaterver reason or the coverage proves insufficient. In that case the company's insurer will be subrogated to payment that would cover such gap, provided that a difference in condition clause, also referred to as DIC is included in the D&O Liability Insurance Contract between the company and the insurer.
What else can I help you with?
What is the Definition of electrical clause A?
what is the definition of of Electrical Clause A
What is the difference between a subordinate clause and subordinate clause?
There isn't a difference between a subordinate clause and a subordinate clause.
A conditional statement consist of a?
"if" clause and a "then" clause. The "if" clause states a condition that must be true in order for the statement to be true, and the "then" clause states the result or outcome if the condition is met.
Give example for showing the difference between having and where clause?
having Clasue is used post to Group By where the group by will done first and after that condition is applied. Where Clause has been done on each and every Row after that the Group by will Occur
What is the definition of granting clause?
A clause or section of a deed which grants or gives something to someone else.
What is the difference between a clause and an independent clause?
A clause can not stand alone in a sentence, whereas an independent clause can stand alone in a sentence.
What is conditional clause?
A conditional clause is a type of dependent clause that usually begins with "if" and expresses a condition upon which the main clause's action is dependent. It specifies the circumstances that must be met for the main clause to occur.
What is the term for a Distinct article or condition in contract or will?
Clause
What type of clause is if you ask her?
This is a conditional clause. It sets up a condition ("if you ask her") upon which another action depends.
What is the difference between an indepent clause and a depent claues?
Commas are used differently when a clause is an independent clauses or if the clause is a dependent/subordinate clauses.
Which is the definition of a complex sentence?
A complex sentence is a sentence that contains an independent clause and at least one dependent clause. The independent clause can stand alone as a complete sentence, while the dependent clause relies on the independent clause to make sense.
What is difference between a Mortgagee clause and a loss payee clause?
Type your answer here... The motgage clause protects the mortgage holder even if insured breaches a condition of the policy e.g. insured not covered due to vacancy clause - mortgage holder will still be able to claim - by comparison, a loss payee would be out of luck - the only requirement on the insurer would be to include the loss payee on cheuqes resulting from the loss.
