Page 13 - Sectional Title Policy Wording

General Exceptions, Conditions and Provisions
6.4 Legal processes
The Insured shall immediately advise the Company of any impending prosecution or inquest and forward to the Company immediately any notice of claim or any communication, writ, criminal and/or civil summons and/or other legal process issued or commenced against the Insured in connection with the event giving rise to the claim.
6.5 No admission of liability
The Insured shall not incur any expense (except as specifically provided for in this Policy) in making good any damage without the written consent of the Company, and shall not negotiate, pay, settle, admit or repudiate any claim or accept liability without such consent and may under no circumstances whatsoever consent to the jurisdiction of any court without prior written permission from the Company.
6.6 Limitation of liability
The Company shall not be liable under more than one Section or Extension (optional or otherwise) of this Policy in respect of liability, loss or damage arising from the same happening in respect of the same liability, loss or damage except where cover is granted for Personal Accident, Stated Benefits or Group Personal Accident Benefits.
6.7 Prescription period
6.7.1 Expiry of claim
No claim shall be payable after expiry of 24 (twenty four) months or such further time as the Company may allow from the happening of any event unless the claim is the subject of pending legal action or is a claim in respect of the Insured's legal liability to a third party;
PROVIDED THAT:
this Condition shall not apply to claims under Sections (if applicable):
1. Business Interruption;
2. Fidelity Guarantee;
3. Stated Benefits or Group Personal Accident including Personal Accident (assault) under Money.
6.7.2 Rejections
No claim shall be payable unless the Insured claims payment by serving written notice to the Company within 90 (ninety) days of the rejection. Should the rejection still not be resolved, the Insured will have an additional 180 (hundred and eighty) days to pursue such legal proceedings to finality.
6.8 Recovery
6.8.1 If, after payment of the claim in respect of lost or stolen property, such property is located or recovered, the Insured shall render all assistance in the identification and in the physical recovery of such property.
6.8.2 The Company shall pay for the reasonable cost in identifying such property.
6.8.3 Failure to assist the Company in the recovery of the said property, the Insured shall become legally liable to repay the Company all payments and expenses in respect of the claim.
6.8.4 If the property was successfully recovered the Company will be the rightful owner of the property.
6.8.5 If the Company replaces or reinstates such vehicle the Company shall have the option to take ownership of the vehicle.
7. Company’s rights after an event
7.1 On the happening of any event in respect of which a claim is or may be made under this Policy, the company and every person authorised by them may, without thereby incurring any liability and without diminishing the right of the company to rely upon any conditions of this Policy:
7.1.1 take, enter or keep possession of any damaged property and deal with it in any reasonable manner. This Condition shall be evidence of the leave and licence of the Insured to the Company to do so. The Insured shall not be entitled to abandon any property to the Company whether taken possession of by the Company or not;
Sectional Title Insurance Policy Wording – Version 4 2023 Page | 11