Financial loss Clause Samples
A Financial Loss clause defines the circumstances under which a party may be held liable for monetary damages that do not arise from physical injury or property damage. Typically, this clause clarifies whether compensation is available for losses such as lost profits, loss of business opportunities, or other purely economic harm resulting from a breach of contract. Its core practical function is to allocate risk between the parties by specifying the types of financial losses that are recoverable, thereby reducing uncertainty and potential disputes over the scope of liability.
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Financial loss. The City will reimburse employees for any substantiated financial loss resulting from vandalism or sabotage to property or possessions due to a strike which is not fully covered under any applicable insurance policy (e.g. private insurance, Autopac). Any payments received under such an insurance policy shall be deducted from the amount paid to the employee by the City.
Financial loss liability for economic loss not consequent upon bodily injury or damage except for nuisance, and the cover provided by the ‘Data Protection’ and ‘Libel and slander’ extension clauses under insured section B.
Financial loss a. within a 48 hour period, the price per share of the Policyholder’s common stock decreases by 10% net of the change in the Standard & Poor’s Composite Index or any other comparable index used to measure the stock exchange in which the Policyholder lists its common stock; or
b. a decrease greater than 20% in the consolidated revenues of the Policyholder.
Financial loss liability for pure financial loss not consequent upon bodily injury or damage.
Financial loss. The insurance by the Public, Products and Pollution liability sections is extended to indemnify you for your liability for financial loss provided that:
a) any claim is first made against you and notified in writing to us during the period of insurance in accordance with the terms of the policy; and
b) such liability is for financial loss incurred by others and arises out of and in connection with the business or your products; and the act or omission creating the liability is not a deliberate or intentional act by or omission of any party entitled to indemnity by this extension the effect of which will knowingly result in financial loss. The insurance by this extension excludes and does not cover:
c) liability which attaches by way of any contract or agreement that would not have attached in the absence of such contract or agreement;
d) liability arising out of failure to meet a delivery deadline, non-completion of works or operations by or on your behalf, or misdirection of products supplied, whether or not expressly promised in any contract;
e) liability resulting from conspiracy, intimidation, unlawful interference with another’s economic interests, conversion, deceit, inducement of breach of contract, injurious falsehood, breach of confidence, or infringement of patent, copyright, trademark, name or other intellectual property right;
f) claims brought anywhere in the world arising out of any breach or alleged breach of any competition law or antitrust law or similar;
g) liability for financial loss sustained by any employee arising out of or in the course of his employment by you;
h) liability arising from electronic data including;
i) any agreement for the storage or processing of computer data or use of computer facilities;
ii) transmission or impact of any virus
iii) unauthorised access to a system iv) interruption of or interference of any electronic means of communication used in the conduct of the business including but not limited to any diminution in the performance of any website or electronic means of communication
Financial loss. The Company or any of its Subsidiaries shall have a pre-tax financial loss of more than $15,000,000 on any one Project (as hereinafter defined), where such financial loss is calculated in accordance with generally accepted accounting principles, except that no accrual for estimated costs not yet incurred shall be included in the calculation of such loss. For purposes of this provision, a "Project" means all work related to one contract or a series of contracts related to the same project undertaken by a WGI Entity; or
Financial loss liability for pure economic loss not consequent upon bodily injury or damage, but this exclusion shall not apply to:
a) personal injury;
b) denial of access, nuisance; or
c) cover as provided by Data Protection Clause;
Financial loss the direct financial loss sustained by the Insured arising from or in connection with any single act or series of related, continuous or repeated acts (which shall be treated as a single act). Financial Loss shall not include fines or penalties, salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other employee benefits paid by the Insured where earned in the normal course of employment. In no event shall Financial Loss include amounts which the Insurer is prohibited from paying by law of the Policy or the law of the jurisdiction where the Insured Event arises.
(a) any dealing or trading in securities, commodities, futures, options, foreign or Federal funds, currencies, foreign exchange and the like unless such Loss is covered under Insurance Cover 1 (i) and results in the Employee making improper financial gain for themselves or for any other individual or organisation intended by such Employee to receive such benefit;
(b) any reckless or inadvertent acts; or
(c) the creation of a liability to a third party or the loss of Money, Securities or other property belonging to a third party other than as provided under Extension 2.1 (Care, Custody or Control).
Financial loss. Every monetary damage of the capital that is not caused by personal injury or property damage.