Page 85 - Agriculture Policy Wording Binder

Fidelity Guarantee
Defined Event 3 – Loss
actual loss of money or monetary funds or negotiable instruments or corporeal tangible property belonging to the Insured or for which the Insured is legally responsible;
PROVIDED THAT:
loss does not include a loss arising from the avoidance, breach, cancellation or other termination of a contract, the non-payment or other non-performance by a debtor, the adverse consequence of a business or trade risk or venture or other speculative enterprise or investment or the provision or receipt or any suretyship or other security.
Theft
Computer Fraud
the unlawful making with intent to defraud of a misrepresentation by means
of access to or use, disclosure, processing, deletion, insertion, amendment, interception or manipulation of the information, data, software or systems of the Insured or of any banking institution holding controlling or otherwise dealing with money or property of the Insured or for which the Insured is legally responsible which is initiated, implemented or completed electronically by use of a computer.
SPECIFIC EXCEPTIONS
dishonest appropriation of money, monetary funds or property with the intention to steal.
1. The Company shall not be liable for:
1.1 loss resulting from or contributed to by any Defined Event by:
1.1.1 any partner in or of the Insured to the extent that such partner would benefit by indemnity granted under this Policy;
1.1.2 any principal, director or member of the Insured unless such principal director or member is also an employee;
1.1.3 any employee from the time the Insured shall become aware that such employee has committed any fraud or dishonesty;
1.2 any consequential losses of any kind following losses referred to under defined events.
2. This Section does not cover any company or other legal entity acquired during the period of insurance.
3. The Company shall only be liable to the extent of the participation/shareholding of any uninvolved partners/ principals/directors or members for an insured event in which any partner/principal/director or member of the Insured is or has been directly involved.
This Specific Exception only applies to:
3.1 partnerships;
3.2 private companies;
3.3 close corporations; or
3.4 trusts.
SPECIFIC CONDITIONS
1. The Insured shall institute and/or maintain and continue to employ in every material manner all such systems of check and control, accounting and clerical procedures and methods of conducting his/her business as has been represented to the Company, but the Insured may:
1.1 change the remuneration and conditions of service of any employee;
1.2 in respect of any employee who is described in the Schedule by name, change his duties and position;
1.3 in respect of any employee who is described in the Schedule only by the position held by him, remove such employee and place in his position any other person who falls within the definition of employee;
1.4 make such other changes as are approved beforehand in writing by the Insured's auditors.
Policy Wording – Agriculture – Binder – Version 2 2023 Page | 83