Continuous Cover. Not withstanding exclusion 17, cover under this policy is extended to include Claims or Losses first notified to the Insurers during the Period of Insurance which arise out of circumstances which prior to the inception of this policy the Insured knew, or ought reasonably to have known, might give rise to a Claim or Loss but failed to notify the Insurers. Provided always that the:
(a) Insurers have provided this insurance continuously to the Insured since the date of such circumstance,
(b) Insured has not given notice of such circumstances under any other contract of insurance, whether underwritten by the Insurers or by others; and
(c) failure of the Insured to give prior notice of such circumstances to the Insurers was neither deliberate nor reckless and was free of any fraudulent conduct or intent to deceive. Claims or Losses falling to be dealt with under this policy solely by virtue of this extension shall be subject to the following additional conditions:
(a) where the Insured’s failure to give time to us notice of such circumstances has resulted in Prejudice to the Insurers, in the handling or settlement of any Claim or Loss, the amount of any loss sustained by the Insured or in the obtaining of reimbursement from any third party, then the amount of cover afforded (including liability for claimant’s costs) shall be reduced to such sum as in the Insurers’ reasonable opinion would have been payable by the min the absence of such prejudice.
(b) the amount of cover available under this extension shall be limited to the lesser of the Amount of cover remaining under the policy of insurance in force at the time the Insured knew, or ought reasonably to have known, of such circumstances or the amount of cover available under this policy.
(c) if the cover available under this policy is greater or wider in scope than that to which the Insured would have been entitled under the policy of insurance in force at the time the Insured knew, or ought reasonably to have known, of such circumstances then the Insurers shall only be liable to cover the Insured for such amount and on such terms as would have been available to the Insured under the policy of insurance in force at the time the Insured knew, or ought reasonably to have known, of such circumstances, save that nothing in this extension shall entitle the Insured to cover wider or more extensive than is otherwise available under this policy.
Continuous Cover. The Underwriters will indemnify the Insured for the Damages and Defence Costs resulting from any Claim arising out of, based upon or attributable to a Circumstance which could have been, but was not, notified by the Insured under any Prior Policy provided by the Underwriters and which is first notified to the Underwriters during the Policy Period, provided that:
(a) the failure by the Insured to notify such Circumstance under any Prior Policy was not fraudulent; and
(b) the Underwriters have the discretion to apply either the Conditions or the terms and conditions of the Prior Policy in effect when the Circumstance first arose; and
(c) the Insured’s entitlement to indemnity under this Policy will be reduced by the extent of any prejudice to the Underwriters as a result of the Insured’s failure to notify such Circumstance under any Prior Policy; and
(d) the Underwriters were the Insured’s technology liability or professional indemnity insurer at the primary level from the time when the Insured first became aware of the Circumstance which subsequently gave rise to the Claim.
Continuous Cover. The Underwriters will indemnify the Insured for the Damages and Defence Costs resulting from any Claim arising out of, based upon or attributable to a Circumstance which could have been, but was not, notified by the Insured under any Prior Policy and which is first notified to the Underwriters during the Policy Period, provided that:
(a) the failure by the Insured to notify such Circumstance under any Prior Policy was not fraudulent; and
(b) the Underwriters have the discretion to apply either the Conditions or the terms and conditions of the Prior Policy in effect when the Circumstance first arose; and
(c) the Insured’s entitlement to indemnity under this Policy will be reduced by the extent of any prejudice to the Underwriters as a result of the Insured’s failure to notify such Circumstance under any Prior Policy;
Continuous Cover. WE agree to provide cover for any CLAIM where the INSURED:
a) first became aware, prior to the INSURANCE PERIOD, that a CLAIM might or could arise from facts or circumstances known to it; and
b) had not notified its insurer of such facts or circumstances prior to the INSURANCE PERIOD.
(a) will not apply to any notification to US during the INSURANCE PERIOD of any such CLAIM, provided that:
i) WE were the management liability insurer of the INSURED when the INSURED first became aware of such facts and circumstances; and
ii) WE have continued, without interruption, to be the INSURED’s management liability insurer up until this POLICY came into effect;
iii) There has not been any fraudulent non-disclosure or fraudulent misrepresentation by the INSURED in respect of such facts or circumstances; and
iv) WE have the discretion to apply either the terms and conditions of the Policy on foot when the INSURED first became aware of the facts and circumstances, including but not limited to the INDEMNITY LIMIT and DEDUCTIBLE, or the terms and conditions of this POLICY.
Continuous Cover. This Policy extends cover for the Damages and Defence Costs resulting from any Claim arising out of, based upon or attributable to a Circumstance which could have been, but was not, notified by the Insured under any Prior Policy and which is first notified to the Underwriters during the Policy Period, provided that:
(a) the failure by the Insured to notify such Circumstance under such Prior Policy was not fraudulent; and
(b) the Underwriters have the discretion to apply either the Conditions or the terms and conditions of such Prior Policy in effect when the Circumstance first arose; and
(c) the Insured’s entitlement to indemnity will be reduced by the extent of any prejudice to the Underwriters as a result of the Insured’s failure to notify such Circumstance under such Prior Policy. If the Prior Policy is not issued by the Underwriters, coverage under this Automatic Extension 2.9 is subject to the following conditions:
(i) the total annual gross revenue of the Company for the immediate prior year is not more than SGD10,000,000; and
(ii) the maximum amount payable will be the lesser amount of SGD5,000,000 or the Sublimit of Liability as specified in Item 5 of the Schedule.
Continuous Cover. If You were aware of any facts that might give rise to a Claim prior to the commencement date of the Period of Insurance and had not notified Us of such facts prior to the commencement date of the Period of Insurance, then Exclusion 6.
Continuous Cover. This policy extends to cover the Insured for any Claim, Investigation or any Wrongful Act which may give rise to a Claim, which could have been notified to the Insurer under an earlier directors and officers liability insurance policy issued by the Insurer and which is notified during the Policy Period or Discovery Period (if applicable), provided that:
(i) there has been no fraudulent non-disclosure or fraudulent misrepresentation in respect of any such Claim, Investigation or Wrongful Act which may give rise to a Claim (each being a "Prior Matter"); and
(ii) the Insured has maintained, without interruption, a directors and officers liability insurance policy with the Insurer from no later than the date when the Insured first became aware of the Prior Matter until the date this policy commenced; and
(iii) cover under this Extension will be in accordance with the terms, conditions, exclusions and limitations (including the Insuring Agreement, Schedule, limit of liability and retention) of the policy in force at the time the Insured first became aware of the Prior Matter, but only where such earlier policy affords no broader cover in respect of the Claim than the provisions of this policy.
