Duty of Fair Presentation. remedies for breach – proposing for this insurance a) if such breach is deliberate or reckless, the insurer may: i) treat this policy as having been terminated from its inception; and ii) retain the premium; b) if such breach is not deliberate or reckless and the insurer would not have entered into this policy but for the breach, the insurer may by notice to the insured treat this policy as having been terminated from its inception in which case the insurer shall return the premium; and c) in all other cases if, but for the said breach, the insurer would have entered into this i) on different terms (other than terms relating to the premium), the insurer may require that this policy is treated as if it had been entered into on those different terms from the outset; or ii) would have charged a higher premium, the insurer may charge such higher premium, effective from inception, and the insured shall pay such higher premium no later than fourteen (14) days after receiving the insurer’s written notice that such higher premium is payable.
Appears in 4 contracts
Samples: Public Authority Combined Liability Insurance Policy, Public Authority Combined Liability Insurance Policy, Public Authority Combined Liability Insurance Policy
