Limited Severability Provision,
Limited Severability Provision Definition:
The application for directors and liability insurance (D&O) officers contains a provision that there is information about the insured person who is not the signatory of the proposal or certain officers (usually the CEO, operations manager and chief). Financial Officer) No compensation is charged to other policyholders. In case of loss, for example, if the insured person finds out that the coverage application contains incorrect financial information, this knowledge, which usually prevents coverage in case of a claim, can be passed on to another insured person. Not attributed to those who do not know that financial statements are incorrect. As a result, the so-called innocent insured are protected by the policy. However, if the applicant or any of the three senior executives finds out about the incorrect data, their knowledge will reach the innocent insurers and even the innocent insured will be prevented from insuring. For policyholders, a limited separation clause is far less useful than a complete separation clause. However, only a small portion of the insurance company's application forms contain separate clauses.
Literal Meanings of Limited Severability Provision
Meanings of Limited:
Small, small or small, limited in size, quantity or coverage.
Sentences of Limited
Many places are available
Synonyms of Limited
restricted, finite, bounded, little, narrow, tight, lean, slight, slender, in short supply, short
Meanings of Provision:
To spread or spread something for use
Financial obligations or other arrangements for future needs.
Amounts charged to the organization's account for known liabilities, primarily bad debts or asset breakdowns.
The quantity or supply of something.
Food, beverages or supplies, especially for travel.
Terms or requirements in legal documents.
Appointment of the beneficiary, usually directly from the pope instead of the boss, and initially before he is released.
Provide food, beverages or luggage especially for travel.
Delaying money is a well-known responsibility in an organization.
Sentences of Provision
Services include providing cancer information, counseling, reflexes and massage.
He promised to continue talks with the health chief to expand the center and provide special shelter.
Direct services include referrals, information provision, psychological counseling, legal work and financial assistance.
The report says there has been an increase in protests across the country over the past two weeks against the provision of essential services and housing.
Alb said he was helping private companies, including his own customers, through federal companies to speed up the delivery of services and supplies to the hurricane-affected areas.
He found it on the internet and said that he had explained many of the problems in providing services at a local hospital.
Chiloba said that although the back seat is important to ensure the provision of services and balance of responsibilities, they need to consider that they cannot be left alone.
The agreement covers the provision of hardware, software, infrastructure and service level contracts for the next three to five years.
Synonyms of Provision
supply, providing, purveying, delivery, furnishing, equipping, giving, donation, allocation, distribution, presentation, plans, planning, prearrangement, arrangements, precautions, precautionary measures, precautionary steps, contingency, services