Page 96 - Hollard Business Branch Policy Wording

Combined Liability (Claims-made Basis)
SPECIFIC CONDITIONS (applicable to Sub-Sec on 1 and 2)
To the extent of any inconsistency between the General Condi ons of this Policy and the Speci c Condi ons appearing below, the Speci c Condi ons will take precedent in respect of this Sec on of the Policy.
1. Observance of terms
The Insured will abide by and ful l all Terms, Condi ons and Endorsements of this Policy in so far as they relate to anything to be done or complied with by the Insured. The truth of the statements, answers and informa on supplied in connec on with this Policy will be a condi on precedent to any liability of the Company to indemnify the Insured.
2. Claims co-opera on
It will be a condi on precedent to liability that in respect of any circumstance no ed to the Company or any claim itself, the Insured will:
2.1 provide the Company with such par culars and informa on as the Company may require, immediately on request;
2.2 forward to the Company any communica on, court process or documenta on, or any other documents received rela ng to such circumstance or claim immediately on receipt;
2.3 give the Company all informa on and assistance required as soon as prac cable, and, where the Company has conduct of proceedings, within such me limits as are speci ed by the Company’s legal representa ves;
2.4 make no admission of liability, payment, o er or promise of payment, or agree to compromise or indemnify or waive any right of subroga on or recovery, without the express prior wri en consent of the Company.
3. Claims control
The Company will be en tled, at its own discre on, to take over and conduct in the Insured’s name the defence or se lement of any claim, and prosecute at its own expense, and for its own bene t, any claims for indemnity or damages against any other persons.
4. Deduc ble
The rst amount payable will be subject to the following provisions:
4.1 where the Company has incurred expenditure in the defence and/or se lement of any claim the rst amount payable will be payable in whole or in part:
4.1.1 at any stage when in respect of a claim sums have been paid in respect of damages, claimant’s expenses and/or defence costs and loss adjus ng expenses; or
4.1.2 at the se lement or closure of any claim; or
4.1.3 where at its own discre on the Company so requires.
4.2 the Company may at its own discre on, or where it is statutorily obliged to do so, pay sums falling within the rst amount payable to e ect a se lement of any claim or poten al claim, and, upon no ca on that such a payment has been made, the Insured will immediately reimburse the Company for the payment;
4.3 the terms of this Policy, including without limita on those governing the Company’s rights in rela on to the conduct and defence of claims and the Insured’s du es in the event of a claim, will not be a ected or modi ed in any way by the existence or applica on of the rst amount payable.
5. Discharge of liability
The Company may at any me, at its own discre on, pay to the Insured the limit of indemnity under this Policy, or any lesser sum(s) for which any claim(s) can be se led, and the Company, a er the deduc on of any sum(s) already paid in connec on with such claim(s), will not be under further liability, except for the payment of defence costs and expenses already agreed and incurred;
Hollard Business Policy – Branch – Version 1 2018 Page | 95