Common use of Limit of Liability and Deductible Clause in Contracts

Limit of Liability and Deductible. For purposes of this policy, all Loss arising out of the same Wrongful Act and all Interrelated Wrongful Acts of any Insured shall be deemed one Loss, and such Loss shall be deemed to have originated in the earliest Policy Year in which a Claim is first made against any Insured alleging any such Wrongful Act or Interrelated Wrongful Acts. The Company’s maximum liability for each Loss shall be the Limit of Liability for each Loss set forth in Item 3(a) of the Schedule. The Company’s maximum liability for all Loss on account of all Claims first made during the same Policy Year shall be the Limit of Liability for each Policy Year set forth in Item 3(b) of the Schedule for this policy. The Company’s liability under this policy shall apply only to that part of each Loss which is excess of the Deductible Amount set forth in Item 4 of the Schedule for this policy, and such Deductible Amounts shall be borne by the Insureds uninsured and at their own risk. The Deductible Amount for Non-Indemnifiable Loss set forth in Item 4(a) of the Schedule for this policy shall apply to Loss incurred by any Insured Person for which no Educational Institution is permitted or required to indemnify, or is permitted or required to indemnify but does not do so by reason of Financial Impairment. The Deductible Amount for Indemnifiable Loss set forth in Item 4(b) of the Schedule for this policy shall apply to all other Loss. If a part of a single Loss is subject to the Deductible Amount for Non- Indemnifiable Loss and part of the same Loss is subject to the Deductible Amount for Indemnifiable Loss, the maximum Deductible Amount applicable to such Loss shall be the Deductible Amount for Indemnifiable Loss. An Educational Institution shall be deemed permitted or required to indemnify an Insured, and the shareholder, managing committee, board of trustees and board of directors resolutions of an Educational Institution shall be deemed to provide indemnification to an Insured, to the fullest extent authorised by law. For purposes of this paragraph, the shareholder, managing committee, board of trustees and board of directors resolutions of the Educational Institution shall be deemed to provide indemnification for such Loss to the fullest extent permitted by such law. For purposes of this subsection 6 only, the Extended Reporting Period, if exercised, shall be part of and not in addition to the immediately preceding Policy Year.

Limit of Liability and Deductible. For purposes of this policy, all Loss arising out of the same Wrongful Act and all Interrelated Wrongful Acts of any Insured shall be deemed one Loss, and such Loss shall be deemed to have originated in the earliest Policy Year in which a Claim is first made against any Insured alleging any such Wrongful Act or Interrelated Wrongful Acts. The Company’s maximum liability for Loss on account of each Loss Claim shall be not exceed the Limit of Liability for each Loss set forth in Item 3(a2.(a) of the Schedule. The Company’s maximum liability for all Loss on account of all Claims first made during the same Policy Year Period shall be not exceed the Limit of Liability for each Policy Year Period set forth in Item 3(b2. (b) of the Schedule. Notwithstanding the above, the Company’s maximum liability for Loss in respect of which a sub-limit is specified for each Loss and/or each Policy Period in the Schedule for of this policy or any endorsement shall be that specified sub-limit of liability. Sub-limits are part of, and not in addition to the Limits of Liability set forth in the Schedule of this policy. Defence Costs and Legal Representation Expenses are part of, and not in addition to, the Limit of Liability as set forth in Item 2 of the Schedule; the payment by the Company of Defence Costs and Legal Representation Expenses erodes such Limit of Liability. The Company’s liability under this policy on account of each and every Claim shall apply only to Loss which is allocated to covered Loss and only to that part of each Loss so allocated which is excess of the applicable Deductible Amount set forth in Item 4 3 of the Schedule for this policy, and such Schedule. Such Deductible Amounts shall be depleted only by Loss and shall be borne by the Insureds Insured uninsured and at their own risk. The Deductible Amount for Non-Indemnifiable Loss set forth in Item 4(a) All Related Claims shall be treated as a single Claim first made on the date the earliest of the Schedule for this policy shall apply to Loss incurred by any Insured Person for which no Educational Institution is permitted or required to indemnifysuch Related Claims was first made, or on the date the earliest of such Related Claims is permitted or required to indemnify but does not do so by reason of Financial Impairmenttreated as having been made. The Deductible Amount for Indemnifiable Loss set forth in Item 4(b) limit of the Schedule for this policy shall apply to all other Loss. If a part of a single Loss is subject to the Deductible Amount for Non- Indemnifiable Loss and part of the same Loss is subject to the Deductible Amount for Indemnifiable Loss, the maximum Deductible Amount applicable to such Loss shall be the Deductible Amount for Indemnifiable Loss. An Educational Institution shall be deemed permitted or required to indemnify an Insured, and the shareholder, managing committee, board of trustees and board of directors resolutions of an Educational Institution shall be deemed to provide indemnification to an Insured, to the fullest extent authorised by law. For purposes of this paragraph, the shareholder, managing committee, board of trustees and board of directors resolutions of the Educational Institution shall be deemed to provide indemnification for such Loss to the fullest extent permitted by such law. For purposes of this subsection 6 only, liability available during the Extended Reporting Period, if exercised, Period shall be part of of, and not in addition to to, the Company’s maximum Limit of Liability for Loss on account of all Claims first made during the immediately preceding Policy Year.Period

Limit of Liability and Deductible. For purposes of this policy, all Loss arising out of the same Wrongful Act and all Interrelated Wrongful Acts of any Insured shall be deemed one Loss, and such Loss shall be deemed to have originated in the earliest Policy Year in which a Claim is first made against any Insured alleging any such Wrongful Act or Interrelated Wrongful Acts. The Company’s maximum liability for all Loss on account of each Loss Claim covered under one or more of the Insuring Clauses shall be the Limit of Liability for each Loss set forth in Item 3(a3(A) of the Schedule. The Company’s maximum aggregate liability for all Loss on account of all Claims first made during the same Policy Year Period, whether covered under one or more Insuring Clauses, shall be the Aggregate Limit of Liability for each Policy Year Period set forth in Item 3(b3(B) of the Schedule for this policySchedule. Defence Costs are part of, and not in addition to, the Limits of Liability set forth in Item 3 of the Schedule, and the payment by the Company of Defence Costs shall reduce and may exhaust such Limits of Liability. The Company’s liability under this policy the Insuring Clauses shall apply only to that part of each covered Loss which is excess of the applicable Deductible Amount set forth in Item 4 of the Schedule for this policy, and such Schedule. Such Deductible Amounts Amount shall be borne by the Insureds uninsured and at their own risk. The Deductible Amount for Non-Indemnifiable Loss set forth in Item 4(a) of the Schedule for this policy shall apply to Loss incurred by any Insured Person for which no Educational Institution is permitted or required to indemnify, or is permitted or required to indemnify but does not do so by reason of Financial Impairment. The Deductible Amount for Indemnifiable Loss set forth in Item 4(b) of the Schedule for this policy shall apply to all other Loss. If a part different parts of a single Loss is Claim are subject to different Deductible Amounts, then the applicable Deductible Amount for Non- Indemnifiable Loss and shall be applied separately to each part of such Claim, but the same Loss sum of such Deductible Amounts shall not exceed the largest applicable Deductible Amount. All Related Claims shall be treated as a single Claim first made on the date the earliest of such Related Claims was first made, or on the date the earliest of such Related Claims is subject to treated as having been made in accordance with Section 16 of this Policy, regardless of whether such date is before or during the Deductible Amount for Indemnifiable Loss, Policy Period. The Limit of Liability available during the maximum Deductible Amount applicable to such Loss Extended Reporting Period (if exercised) shall be the Deductible Amount for Indemnifiable Loss. An Educational Institution shall be deemed permitted or required to indemnify an Insuredremaining portion, and the shareholderif any, managing committee, board of trustees and board of directors resolutions of an Educational Institution shall be deemed to provide indemnification to an Insured, to the fullest extent authorised by law. For purposes of this paragraph, the shareholder, managing committee, board of trustees and board of directors resolutions of the Educational Institution shall be deemed to provide indemnification Company’s maximum aggregate liability for such all Loss to the fullest extent permitted by such law. For purposes on account of this subsection 6 only, the Extended Reporting Period, if exercised, shall be part of and not in addition to all Claims made during the immediately preceding Policy YearPeriod.

Limit of Liability and Deductible. For purposes of this policy, all Loss arising out of the same Wrongful Act and all Interrelated Wrongful Acts of any Insured shall be deemed one Loss, and such Loss shall be deemed to have originated in the earliest Policy Year in which a Claim is first made against any Insured alleging any such Wrongful Act or Interrelated Wrongful Acts4. The Company’s maximum liability for Loss on account of each Loss Claim shall be the Limit of Liability for each Loss set forth in Item 3(a) of the Schedule. The Company’s maximum liability for all Loss on account of all Claims first made during the same Policy Year Period shall be the Limit of Liability for each Policy Year Period set forth in Item 3(b) of the Schedule for this policySchedule. Defence Costs are part of, and not in addition to, the Limits of Liability set forth in Item 3 of the Schedule, and the payment by the Company of Defence Costs shall reduce and may exhaust such applicable Limits of Liability. The Company’s liability under this policy shall apply only to that part of covered Loss on account of each Loss Claim which is excess of the Deductible Amount set forth in Item 4 of the Schedule for Schedule. Such Deductible Amount shall be depleted only by Loss otherwise covered under this policy, policy and such Deductible Amounts shall be borne by the Insureds uninsured and at their own risk. The Deductible Amount for Non-Indemnifiable Loss set forth in Item 4(a) All Related Claims shall be treated as a single Claim first made on the date the earliest of the Schedule for this policy shall apply to Loss incurred by any Insured Person for which no Educational Institution is permitted or required to indemnifysuch Related Claims was first made, or on the date the earliest of such Related Claims is permitted treated as having been made in accordance with section 5, Reporting and Notice, regardless of whether such date is before or required to indemnify but does not do so by reason of Financial Impairmentduring the Policy Period. The Deductible Amount for Indemnifiable Loss set forth in Item 4(b) limit of the Schedule for this policy shall apply to all other Loss. If a part of a single Loss is subject to the Deductible Amount for Non- Indemnifiable Loss and part of the same Loss is subject to the Deductible Amount for Indemnifiable Loss, the maximum Deductible Amount applicable to such Loss shall be the Deductible Amount for Indemnifiable Loss. An Educational Institution shall be deemed permitted or required to indemnify an Insured, and the shareholder, managing committee, board of trustees and board of directors resolutions of an Educational Institution shall be deemed to provide indemnification to an Insured, to the fullest extent authorised by law. For purposes of this paragraph, the shareholder, managing committee, board of trustees and board of directors resolutions of the Educational Institution shall be deemed to provide indemnification for such Loss to the fullest extent permitted by such law. For purposes of this subsection 6 only, liability available during the Extended Reporting Period, if exercised, shall be part of and not in addition to the Company’s maximum limit of liability for all Loss on account of a Claim first made during the immediately preceding Policy Year.Period. N MISCELLA EOUS PROFESSIONAL INDEMNITY POLICY Mumbai - 400059 Reporting and Notice