Common use of Loss Mitigation Clause in Contracts

Loss Mitigation. (a) If the Named Insured reasonably determines during the Policy Period that urgent action is needed in order to avoid or minimise the risk of a Circumstance or Claim for which coverage under this Policy would apply, the Insured shall be entitled to retain a loss mitigation advisor to provide services in connection with avoiding or minimising such risk. (b) The Underwriters shall pay the Insured for the reasonable fees, costs and expenses incurred by or on behalf of the Insured, with the Underwriters’ prior written consent (such consent not to be unreasonably withheld or delayed), for such loss mitigation services. This Automatic Extension shall not cover the Insured’s own time spent in mitigating any such risk. (c) This coverage is subject to a Sublimit of Liability of $250,000 unless otherwise specified in Item 5 of the Schedule.

Loss Mitigation. (a) If the Named Insured reasonably determines during the Policy Period or any applicable Extended Reporting Period, that urgent action is needed in order to avoid or minimise the risk of a Circumstance or Claim for which coverage under this Policy would apply, the Insured shall be entitled to retain a loss mitigation advisor to provide services in connection with avoiding or minimising such risk. (b) The Underwriters shall pay the Insured for the reasonable fees, costs and expenses incurred by or on behalf of the Insured, with the Underwriters’ prior written consent (such consent not to be unreasonably withheld or delayed), for such loss mitigation services. This Automatic Extension 1.2.17 shall not cover the Insured’s own time spent in mitigating any such risk. (c) This coverage is subject to a Sublimit of Liability of $250,000 SGD250,000 unless otherwise specified in Item 5 of the Schedule.

Loss Mitigation. (a) If the Named Insured reasonably determines during the Policy Period or any applicable Extended Reporting Period that urgent action is needed in order to avoid or minimise the risk of a Circumstance or Claim for which coverage under this Policy would apply, the Insured shall be entitled to retain a loss mitigation advisor to provide services in connection with avoiding or minimising such risk. (b) . The Underwriters shall pay the Insured for the reasonable fees, costs and expenses incurred by or on behalf of the Insured, with the Underwriters’ prior written consent (such consent not to be unreasonably withheld or delayed), for such loss mitigation services. This Automatic Extension shall 2.12 does not extend to cover the Insured’s own time spent in mitigating any such risk. (c) . This coverage is subject to a Sublimit of Liability of $250,000 unless otherwise as specified in Item 5 of the Schedule.