Common use of Suspended practices Clause in Contracts

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that: (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s practice is regarded as being a continuation of the insured firm’s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s firm‟s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that: (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s firm‟s practice is regarded as being a continuation of the insured firm’s firm‟s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s firm‟s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying participating insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that: (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s firm‟s practice is regarded as being a continuation of the insured firm’s firm‟s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying participating insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that:that:‌‌‌‌ (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s practice is regarded as being a continuation of the insured firm’s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying participating insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that: (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s practice is regarded as being a continuation of the insured firm’s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that:the (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s practice is regarded as being a continuation of the insured firm’s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.

Suspended practices. The insurance must provide that, where run-off cover has been activated in accordance with this clause 5, but where the insured firm’s firm‟s practice restarts, the insurer may (but shall not be obliged to) cancel such run-off cover, on such terms as may be agreed, provided that: (a) there is insurance complying with these MTC in relation to that insured firm in force on the date of cancellation; (b) the qualifying insurer providing such insurance confirms in writing to the insured firm and the insurer (if different) that:the (i) it is providing insurance complying with these MTC in relation to that insured firm for the then current indemnity period; and (ii) it is doing so on the basis that the insured firm’s firm‟s practice is regarded as being a continuation of the insured firm’s firm‟s practice prior to cessation and that accordingly it is liable for claims against the insured firm arising from incidents, occurrences, facts, matters, acts and/or omissions which occurred prior to cessation.