Examples of Discovery Period in a sentence
If the Policyholder chooses not to renew or extend this Policy and does not replace this Policy with a similar policy or cover with the Insurer or any other party, then the Policyholder shall have the right to a Discovery Period of 30 days following the effective date of non-renewal with the Insurer.
If during the Policy Period an entity ceases to be a Subsidiary Company or an Associated Company or a Plan, this Policy will indemnify the Insured in respect of Loss arising from acts committed prior to the date that such entity ceased to be a Subsidiary Company or an Associated Company or a Plan, where Discovered during the Policy Period in which such entity ceased to be an Insured (or, if applicable, the Discovery Period).
The Discovery Period shall not apply in the event of Cancellation as set out under General Condition 4.15.
The Insurer shall indemnify the Insured for Loss Discovered during the Policy Period (or, if applicable, the Discovery Period) resulting from an act of fraud or dishonesty committed by an employee of a company to which the Insured Outsources an administrative business support function.