Page 239 - Liability Insurance IC74

Guide for Liability Insurance

(v) Limitation - and action can be time-barred under
the provisions of the statute of limitation.

(vi) Accord and satisfaction - if the claim has been
settled by agreement and the binding discharge has
been of obtained, it cannot be reopened. Similarly,
the law does not allow sucessive actions. If
damages are awarded for bodily injury is on the
basis of medical evidence, a fresh action cannot be
brought on the basis of subsequent medical opinion
establishing that the injuries were more serious than
originally agreed.

Q5. Attempt any 2:
(a) State any 3 exclusions under Directors &
Officers liability policy - 3 important exclusions
are as follows: the Underwriters shall pay any loss
arising from any claim
(i) where legal action or litigation is brought in a court
of law within the Excluded Territories stated in the
Schedule.
(ii) to the extent that an indemnity or payment is
available from any source, other than this policy.
(iii) for any actual or alleged bodily injury, sickness,
disease and death of any person or any actual or
alleged damage to, or destruction of intangible

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