Common use of Third Party Liability Coverage Clause in Contracts

Third Party Liability Coverage. The Underwriter shall pay on behalf of the Insureds all Loss for which the Insureds become legally obligated to pay on account of any Third Party Claim first made against the Insureds during the Policy Period or during the Extended Reporting Period, if exercised, for a Third Party Wrongful Act.

Third Party Liability Coverage. The Underwriter shall pay pay, on behalf of the Insureds all Insureds, Loss for which the Insureds become legally obligated to pay on account of from any Third Party Claim first made against the Insureds during the Policy Period or during the applicable Extended Reporting Period, if exercised, for a Third Party Wrongful Act; provided, that such Third Party Claim is reported to the Underwriter in accordance with Section VII of this Coverage Section.