Common use of CONDUCT OF INSURER Clause in Contracts

CONDUCT OF INSURER. 5.1 The Insurer shall act at all times with utmost good faith in the course of its dealings with all Firms which are the subject of Policies issued by it. 5.2 The Insurer shall accept a fully completed Proposal Form as a duly completed application for a Policy and shall not require a Firm to complete or submit any other proposal form or application for a Policy. 5.3 The Insurer shall not request a Firm seeking a Policy to provide it with Supplemental Information until such time as the Insurer has received and reviewed a Proposal Form fully completed by that Firm. The Insurer shall only request a Firm to provide it with Supplemental Information where the Insurer reasonably requires such information in order to decide whether to insure the Firm. 5.4 The Insurer shall not, either in respect of a proposal received from a Firm seeking a Policy or in respect of a proposed extension, renewal or replacement of a Policy, request details of: 5.4.1 the amount of premium paid or payable by the Firm to another insurer in respect of a policy of professional indemnity insurance taken out in any previous Indemnity Period; or 5.4.2 any quote received by the Firm from another insurer in respect of a policy of professional indemnity insurance for the then current Indemnity Period or any previous Indemnity Period. 5.5 No later than ten (10) Working days following the receipt of a fully completed Proposal Form from a Firm seeking a Policy, the Insurer shall respond to the Firm confirming whether the Insurer is willing to insure the Firm and confirming the amount of the premium being sought by the Insurer for such insurance and such quotation shall remain in effect for ten (10) Working days or until the expiry of the previous Coverage Period, whichever date is earlier. When providing such information to the Firm the Insurer shall also provide the Firm with details of any credit rating that it has from any credit rating agency at that time (or in the absence of any such credit rating, a statement to that effect). 5.6 If the Insurer requires Supplemental Information from the Firm in order to decide whether to insure the Firm, the Insurer shall make a statement to that effect and request that the Firm provide such Supplemental Information within a reasonable timescale. 5.7 No later than 21 (twenty one) days prior to the end of each Coverage Period the Insurer shall provide to each Firm to which the Insurer is at that time providing a Policy (subject always to the Insurer having been first provided by the Insured with such information as may be reasonably necessary to enable the Insurer to do so), written notice of whether the Insurer will seek to extend, renew or replace such Policy. 5.7.1 If the Insurer is seeking to extend, renew or replace such Policy such notice shall include: (a) the amount of the premium, excess and any special terms to apply to such extension, renewal or replacement; (b) if the Insurer requires further information from the Insured in order to provide the details required by sub-clause (a) above, subject to clause 5.2, a statement to that effect and a request that the Firm provide such information within a reasonable timescale, 5.7.2 If the Insurer is not seeking to extend, renew or replace such Policy, such notice shall include details of the fact that the Insurer intends not to extend, renew or replace the coverage.

CONDUCT OF INSURER. 5.1 The Insurer shall act at all times with utmost good faith in the course of its dealings with all Firms which are the subject of Policies issued by it. 5.2 The Insurer shall accept a fully completed Proposal Form as a duly completed application for a Policy and shall not require a Firm to complete or submit any other proposal form or application for a Policy. 5.3 The Insurer shall not request a Firm seeking a Policy to provide it with Supplemental Information until such time as the Insurer has received and reviewed a Proposal Form fully completed by that Firm. The Insurer shall only request a Firm to provide it with Supplemental Information where the Insurer reasonably requires such information in order to decide whether to insure the Firm. 5.4 The Insurer shall not, either in respect of a proposal received from a Firm seeking a Policy or in respect of a proposed extension, renewal or replacement of a Policy, request details of: 5.4.1 the amount of premium paid or payable by the Firm to another insurer in respect of a policy of professional indemnity insurance taken out in any previous Indemnity Period; or 5.4.2 any quote received by the Firm from another insurer in respect of a policy of professional indemnity insurance for the then current Indemnity Period or any previous Indemnity Period. 5.5 No later than ten (10) Working days following the receipt of a fully completed Proposal Form from a Firm seeking a Policy, the Insurer shall respond to the Firm confirming whether the Insurer is willing to insure the Firm and confirming the amount of the premium being sought by the Insurer for such insurance and such quotation shall remain in effect for ten (10) Working days or until the expiry of the previous Coverage Period, whichever date is earlier. When providing such information to the Firm the Insurer shall also provide the Firm with details of any credit long term insurer financial strength rating that it has from any credit rating agency Approved Credit Rating Agency at that time (or in the absence of any such credit rating, a statement to that effect). 5.6 If the Insurer requires Supplemental Information from the Firm in order to decide whether to insure the Firm, the Insurer shall make a statement to that effect and request that the Firm provide such Supplemental Information within a reasonable timescale. 5.7 No later than 21 (twenty one) days prior to the end of each Coverage Period the Insurer shall provide to each Firm to which the Insurer is at that time providing a Policy (subject always to the Insurer having been first provided by the Insured with such information as may be reasonably necessary to enable the Insurer to do so), written notice of whether the Insurer will seek to extend, renew or replace such Policy. 5.7.1 If the Insurer is seeking to extend, renew or replace such Policy such notice shall include: (a) the amount of the premium, excess and any special terms to apply to such extension, renewal or replacement; (b) if the Insurer requires further information from the Insured in order to provide the details required by sub-clause (a) above, subject to clause 5.2, a statement to that effect and a request that the Firm provide such information within a reasonable timescale, 5.7.2 If the Insurer is not seeking to extend, renew or replace such Policy, such notice shall include details of the fact that the Insurer intends not to extend, renew or replace the coverage.

CONDUCT OF INSURER. 5.1 The Insurer shall act at all times with utmost good faith in the course of its dealings with all Firms which are the subject of Policies issued by it. 5.2 The Insurer shall accept a fully completed Proposal Form as a duly completed application for a Policy and shall not require a Firm to complete or submit any other proposal form or application for a Policy. 5.3 The Insurer shall not request a Firm seeking a Policy to provide it with Supplemental Information until such time as the Insurer has received and reviewed a Proposal Form fully completed by that Firm. The Insurer shall only request a Firm to provide it with Supplemental Information where the Insurer reasonably requires such information in order to decide whether to insure the Firm. 5.4 The Insurer shall not, either in respect of a proposal received from a Firm seeking a Policy or in respect of a proposed extension, renewal or replacement of a Policy, request details of: 5.4.1 the amount of premium paid or payable by the Firm to another insurer in respect of a policy of professional indemnity insurance taken out in any previous Indemnity Period; or 5.4.2 any quote received by the Firm from another insurer in respect of a policy of professional indemnity insurance for the then current Indemnity Period or any previous Indemnity Period. 5.5 No later than ten (10) Working days following the receipt of a fully completed Proposal Form from a Firm seeking a Policy, the Insurer shall respond to the Firm confirming whether the Insurer is willing to insure the Firm and confirming the amount of the premium being sought by the Insurer for such insurance and such quotation shall remain in effect for ten (10) Working days or until the expiry of the previous Coverage Period, whichever date is earlier. When providing such information to the Firm the Insurer shall also provide the Firm with details of any credit rating that it has from any credit rating agency at that time (or in the absence of any such credit rating, a statement to that effect). 5.6 If the Insurer requires Supplemental Information from the Firm in order to decide whether to insure the Firm, the Insurer shall make a statement to that effect and request that the Firm provide such Supplemental Information within a reasonable timescale. 5.7 No later than 21 (twenty one) days prior to the end of each Coverage Period the Insurer shall provide to each Firm to which the Insurer is at that time providing a Policy (subject always to the Insurer having been first provided by the Insured with such information as may be reasonably necessary to enable the Insurer to do so), written notice of whether the Insurer will seek to extend, renew or replace such Policy. 5.7.1 If the Insurer is seeking to extend, renew or replace such Policy such notice shall include: (a) the amount of the premium, excess and any special terms to apply to premium being sought by the Insurer for such extension, renewal or replacement; (b) if the Insurer requires further information from the Insured in order to provide the details required by sub-clause (a) above, subject to clause 5.2, a statement to that effect and a request that the Firm provide such information within a reasonable timescale, 5.7.2 If the Insurer is not seeking to extend, renew or replace such Policy, such notice shall include details of the fact that the Insurer intends not to extend, renew or replace the coverage.

CONDUCT OF INSURER. 5.1 The Insurer shall act at all times with utmost good faith in the course of its dealings with all Firms which are the subject of Policies issued by it, subject to the provisions of any applicable legislation, including the Consumer Insurance Contracts Act 2019, if applicable. 5.2 The Insurer shall accept a fully completed Proposal Form as a duly completed application for a Policy and shall not require a Firm to complete or submit any other proposal form or application for a Policy. 5.3 The Insurer shall not request a Firm seeking a Policy to provide it with Supplemental Information until such time as the Insurer has received and reviewed a Proposal Form fully completed by that Firm. The Insurer shall only request a Firm to provide it with Supplemental Information where the Insurer reasonably requires such information in order to decide whether to insure the Firm. 5.4 The Insurer shall not, either in respect of a proposal received from a Firm seeking a Policy or in respect of a proposed extension, renewal or replacement of a Policy, request details of: 5.4.1 the amount of premium paid or payable by the Firm to another insurer in respect of a policy of professional indemnity insurance taken out in any previous Indemnity Period; or 5.4.2 any quote received by the Firm from another insurer in respect of a policy of professional indemnity insurance for the then current Indemnity Period or any previous Indemnity Period. 5.5 No later than ten (10) Working days following the receipt of a fully completed Proposal Form from a Firm seeking a Policy, the Insurer shall respond to the Firm confirming whether the Insurer is willing to insure the Firm and confirming the amount of the premium being sought by the Insurer for such insurance and such quotation shall remain in effect for ten (10) Working days or until the expiry of the previous Coverage Period, whichever date is earlier. When providing such information to the Firm the Insurer shall also provide the Firm with details of any credit long term insurer financial strength rating that it has from any credit rating agency Approved Credit Rating Agency at that time (or in the absence of any such credit rating, a statement to that effect). 5.6 If the Insurer requires Supplemental Information from the Firm in order to decide whether to insure the Firm, the Insurer shall make a statement to that effect and request that the Firm provide such Supplemental Information within a reasonable timescale. 5.7 No later than 21 (twenty one) days prior to the end of each Coverage Period the Insurer shall provide to each Firm to which the Insurer is at that time providing a Policy (subject always to the Insurer having been first provided by the Insured with such information as may be reasonably necessary to enable the Insurer to do so), written notice of whether the Insurer will seek to extend, renew or replace such Policy. 5.7.1 If the Insurer is seeking to extend, renew or replace such Policy such notice shall include: (a) the amount of the premium, excess and any special terms to apply to such extension, renewal or replacement; (b) if the Insurer requires further information from the Insured in order to provide the details required by sub-clause (a) above, subject to clause 5.2, a statement to that effect and a request that the Firm provide such information within a reasonable timescale, 5.7.2 If the Insurer is not seeking to extend, renew or replace such Policy, such notice shall include details of the fact that the Insurer intends not to extend, renew or replace the coverage.

CONDUCT OF INSURER. 5.1 The Insurer shall act at all times with utmost good faith in the course of its dealings with all Firms which are the subject of Policies issued by it. 5.2 The Insurer insurer shall accept a fully completed Proposal Form as a duly completed application for a Policy and shall not require a Firm to complete or submit any other proposal form or application for a Policy. 5.3 The Insurer shall not request a Firm seeking a Policy to provide it with Supplemental Information until such time as the Insurer has received and reviewed a Proposal Form fully completed by that Firm. The Insurer shall only request a Firm to provide it with Supplemental Information where the Insurer reasonably requires such information in order to decide whether to insure the Firm. 5.4 The Insurer shall not, either in respect of a proposal received from a Firm seeking a Policy or in respect of a proposed extension, renewal or replacement of a Policy, request details of: 5.4.1 the amount of premium paid or payable by the Firm to another insurer in respect of a policy of professional indemnity insurance taken out in any previous Indemnity Period; or 5.4.2 any quote received by the Firm from another insurer in respect of a policy of professional indemnity insurance for the then current Indemnity Period or any previous Indemnity Period. 5.5 No later than ten (10) Working days following the receipt of a fully completed Proposal Form from a Firm seeking a Policy, the Insurer shall respond to the Firm confirming whether the Insurer is willing to insure the Firm and confirming the amount of the premium being sought by the Insurer for such insurance and such quotation shall remain in effect for ten five (105) Working days or until the expiry of the previous Coverage Period, whichever date is earlier. When providing such information to the Firm the Insurer shall also provide the Firm with details of any credit rating that it has from any credit rating agency at that time (or in the absence of any such credit rating, a statement to that effect). 5.6 If the Insurer requires Supplemental Information from the Firm in order to decide whether to insure the Firm, the Insurer shall make a statement to that effect and request that the Firm provide such Supplemental Information within a reasonable timescale. 5.7 No later than 21 (twenty one) days prior to the end of each Coverage Period the Insurer shall provide to each Firm to which the Insurer is at that time providing a Policy (subject always to the Insurer having been first provided by the Insured with such information as may be reasonably necessary to enable the Insurer to do so), written notice of whether the Insurer will seek to extend, renew or replace such Policy. 5.7.1 If the Insurer is seeking to extend, renew or replace such Policy such notice shall include: (a) the amount of the premium, excess and any special terms to apply to premium being sought by the Insurer for such extension, renewal or replacement; (b) if the Insurer requires further information from the Insured in order to provide the details required by sub-clause (a) above, subject to clause 5.2, a statement to that effect and a request that the Firm provide such information within a reasonable timescale, 5.7.2 If the Insurer is not seeking to extend, renew or replace such Policy, such notice shall include details of the fact that the Insurer intends not to extend, renew or replace the coverage.