Common use of Limit of Liability and Deductible Clause in Contracts

Limit of Liability and Deductible. The Company's maximum liability for Loss on account of each Claim, whether covered under one or more Insuring Contracts, shall be the Limit of Liability for each Loss set forth in Item 2(a) of the Schedule. The Company's maximum aggregate liability for Loss on account of all Claims first made during the Policy Period, whether covered under one or more Insuring Contracts, shall be the Limit of Liability for each Policy Period set forth in Item 2(b) of the Schedule. The Company's maximum liability under Insuring Contract 4 for Public Relations Expenses shall be the sub-limit of liability set forth in Items 2(c) of the Schedule. The Company's maximum liability under Insuring Contract 4 for Public Relations Expenses on account of all Claims made during the Policy Period shall be the sub- limit of liability for each Policy Period set forth in Items 2( d) of the Schedule. The limits of liability set forth in Items 2(c) and 2(d) of the Schedule are sub-limits which are part of, and not in addition to the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule. They further reduce, and do not increase, the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule . Defence Costs are part of, and not in addition to, the Limits of Liability set forth in Item 2 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 Insuring Contract 2, Insuring Contract 3 and/or Insuring Contract 4 shall apply only to that part of Loss on account of each Claim which is excess of the applicable Deductible Amount set forth in Item 3 of the Schedule. Such Deductible Amount shall be depleted only by Loss and shall be borne by the Insured uninsured and at their own risk. Except as otherwise provided by section 12. Presumptive Indemnification, no Deductible Amount shall apply to any Loss under Insuring Contract 1. To the extent that Loss on account of a Claim is covered under Insuring Contract 2 or 3 of this policy and is in excess of the Deductible Amount, the Insured Organisation shall bear uninsured and at its own risk that percentage of such Loss specified as the Co-insurance Amount in Item 5 of the Schedule and the Company's liability shall apply only to the remaining percentage of such Loss. If different parts of a single Claim are subject to different Deductible Amounts, the applicable Deductible Amounts will be applied separately to each part of such Claim, but the 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 treated as having been made in accordance with section 13. Reporting and Notice, regardless of whether such date is before or during the Policy Period. In the event of Loss which is covered by this policy and by those policies listed in the Proposal or any directors and officers liability policy, or any other policy affording similar cover, issued by Chubb Insurance Company of Australia Limited or any other subsidiary, affiliate or associate of The Chubb Corporation, the Limit of Liability stated in Item 2 (b) of the Schedule shall be reduced by the amount paid or payable under such other policy. The entire premium for this policy shall be deemed fully earned at inception, unless otherwise agreed to by the Company.

Limit of Liability and Deductible. The Company's ’s maximum liability for Loss on account of each Claim, whether covered under one or more Insuring ContractsClauses, shall be not exceed the Limit of Liability for each Loss set forth in Item 2(a) of the Schedule. The Other than with respect to Extension 2.E. Dedicated Additional Limit of Liability for Directors and Officers, and Extension 2.K Crisis Expenses, where granted, the Company's ’s maximum aggregate liability for Loss on account of all Claims first made during the Policy Period, whether covered under one or more Insuring ContractsClauses, shall be not exceed the Limit of Liability for each Policy Period set forth in Item 2(b) of the Schedule. The Notwithstanding the above, the Company's ’s maximum liability under Insuring Contract 4 for Public Relations Expenses Loss in respect of which a sub-limit is specified for each Loss and/or each Policy Period in the Schedule or any endorsement shall be the that specified sub-limit of liability liability. Other than as set forth in Items 2(c) of the Schedule. The Company's maximum liability under Insuring Contract 4 for Public Relations Expenses on account of all Claims made during the Policy Period shall be the sub- limit of liability for each Policy Period set forth in Items 2( d) of the Schedule. The limits of liability set forth in Items 2(c) and 2(d) of the Schedule are above paragraph, sub-limits which are part of, and not in addition to the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule. They further reduceIf granted, the Company shall pay the Dedicated Additional Limit of Liability for Directors or Officers in addition to the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule only after the Company has paid the full amount of the applicable Limit of Liability. The Dedicated Additional Limit of Liability for Directors or Officers is not eroded by payments within the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule. The limit of liability for Crisis Expenses is in addition to, and do does not increasereduce, the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule Schedule. The limit of liability for Crisis Expenses is not eroded by payments within the Limits of Liability set forth in Items 2(a) and 2(b) of the Schedule. Defence Costs, Legal Representation Expenses and Prosecution and Reputation Protection Costs are part of, and not in addition to, the Limits of Liability set forth in Item 2 of the Schedule, and ; the payment by the Company of Defence Costs, Legal Representation Expenses and Prosecution and Reputation Protection Costs shall reduce and may exhaust erodes such applicable Limits of Liability. The Company's ’s liability under Insuring Contract 2, Insuring Contract 3 and/or Insuring Contract 4 on account of each and every Claim shall apply only to Loss which is allocated to covered Loss and only to that part of Loss on account of each Claim so allocated which is in excess of the applicable Deductible Amount set forth in Item 3 of the Schedule. Such Deductible Amount shall be depleted only by Loss and shall be borne by the Insured uninsured and at their own risk. Except as Unless otherwise provided by section 12specified, and for the avoidance of doubt, the applicable Deductible Amount applies to the Extensions to this policy. Presumptive Indemnification, no No Deductible Amount shall apply to any Loss under Insuring Contract 1. To the extent that Loss on account of a Claim for which an Organisation is covered under Insuring Contract 2 prevented by law or 3 of this policy and is in excess of the Deductible Amount, the due to Financial Impairment from indemnifying an Insured Organisation shall bear uninsured and at its own risk that percentage of such Loss specified as the Co-insurance Amount in Item 5 of the Schedule and the Company's liability shall apply only to the remaining percentage of such Loss. If different parts of a single Claim are subject to different Deductible Amounts, the applicable Deductible Amounts will be applied separately to each part of such Claim, but the sum of such Deductible Amounts shall not exceed the largest applicable Deductible AmountPerson. 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 treated as having been made in accordance with section 13. Reporting and Noticethis Coverage Section, regardless of whether such date is before or during the Policy Period. In The limit of liability available during the event of Loss which is covered by this policy Extended Reporting Period, if exercised, shall be part of, and by those policies listed not in the Proposal or any directors and officers liability policy, or any other policy affording similar cover, issued by Chubb Insurance Company of Australia Limited or any other subsidiary, affiliate or associate of The Chubb Corporationaddition to, the Limit Company’s maximum aggregate limit of Liability stated in Item 2 (b) liability for Loss on account of all Claims first made during the Schedule shall be reduced by the amount paid or payable under such other policy. The entire premium for this policy shall be deemed fully earned at inception, unless otherwise agreed to by the Companyimmediately preceding Policy Period.