Common use of GENERAL CONDITIONS Clause in Contracts

GENERAL CONDITIONS. (Conditions 13.1 to 13.4 are precedent to Underwriters' liability to provide indemnity under this Policy). 13.1 The Assured shall give written notice to the Underwriters as soon as reasonably practicable of any occurrence that may give rise to a claim under this Policy and shall give all such additional information as the Underwriters may require. Every claim, writ, summons or process and all documents relating thereto shall be forwarded to the Underwriters immediately they are received by the Assured. 13.2 No admission, offer, promise or payment shall be made or given by or on behalf of the Assured without the prior written consent of the Underwriters who shall be entitled to take over and conduct in the name of the Assured the defence or settlement of any claim or to prosecute in the name of the Assured to their own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Assured shall give all such information and assistance as the Underwriters may reasonably require. 13.3 The Assured shall give notice as soon as reasonably practicable of any fact or event which materially changes the information supplied to Underwriters at the time when this Policy was effected and Underwriters may amend the terms of this Policy according to the materiality of the change. 13.4 Where the premium is provisionally based on the Assured's estimates, the Assured shall keep accurate records and after expiry of the Period of Insurance declare as soon as possible such details as Underwriters require. The premium shall then be adjusted and any difference paid by or allowed to the Assured as the case may be subject to any minimum premium that may apply. 13.5 The Underwriters may at any time pay to the Assured in connection with any claim or series of claims under this Policy to which an Indemnity Limit applies the amount of such Limit (after deduction of any sums already paid) or any lesser amount for which such claims can be settled and upon such payment being made the Underwriters shall relinquish the conduct and control of and be under no further liability in connection with such claims except for the payment of Defence Costs incurred prior to the date of such payment (unless the Indemnity Limit is stated to be inclusive of Defence Costs). Provided that if Underwriters exercise the above option and the amount required to dispose of any claim or series of claims exceeds the Indemnity Limit and such excess amount is insured either in whole or in part, with Defence Costs payable in addition to the Indemnity Limit under this Policy then the Underwriters will also contribute their proportion of subsequent Defence Costs incurred with their prior consent. 13.6 Any dispute concerning the interpretation of this Policy and/or Schedule .will be determined in accordance with the Law of England. The Assured and Underwriters submit to the exclusive jurisdiction of any court of competent jurisdiction within England and agree to comply with all requirements necessary to give such court jurisdiction. All matters arising hereunder shall be determined in accordance with the law and practice of such court. 13.7 Any phrase or word in this Policy will be interpreted in accordance with the law of England. The Policy and the Schedule shall be read together as the contract and any word or expression to which a specific meaning has been attached in any part of this Policy or the Schedule shall bear such specific meaning wherever it may appear. 13.8 The Underwriters may cancel this Policy by giving sixty days' notice in writing of such cancellation to the Assured's last known address. 13.9 If any claim under this Policy is in any respect fraudulent all benefit under the Policy shall be forfeited. NORTH AMERICAN CONDITIONS Notwithstanding anything to the contrary contained herein, this Policy shall be subject to the following additional clauses, in respect of any judgment, award, payment or settlement made within countries which operate under the laws of the United States of America or Canada: Industries, Seepage, Pollution and Contamination Exclusion Clause No.4 This Insurance does not cover any liability for: (1) Personal Injury or Bodily Injury or loss of, or damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination. (2) The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. (3) Fines, penalties, punitive or exemplary damages. NMA1686 Punitive And Exemplary Damage Exclusion Clause Regardless of any other provision of this insurance, this insurance does not apply to punitive or exemplary damages. NMA1933 Costs Inclusive Clause The limit of liability in respect of any claim together with the legal costs recoverable and the costs and expenses incurred in the defence or settlement of any such claim shall not exceed in all hereunder the limit of liability stated in the policy. SANCTION LIMITATION AND EXCLUSION CLAUSE No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. 15/09/10 LMA3100 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter

GENERAL CONDITIONS. (Conditions 13.1 to 13.4 are precedent to Underwriters' liability to provide indemnity under this Policy). 13.1 The Assured shall give written notice to the Underwriters as soon as reasonably practicable of any occurrence that may give rise to a claim under this Policy and shall give all such additional information as the Underwriters may require. Every claim, writ, summons or process and all documents relating thereto shall be forwarded to the Underwriters immediately they are received by the Assured. 13.2 No admission, offer, promise or payment shall be made or given by or on behalf of the Assured without the prior written consent of the Underwriters who shall be entitled to take over and conduct in the name of the Assured the defence or settlement of any claim or to prosecute in the name of the Assured to their own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Assured shall give all such information and assistance as the Underwriters may reasonably require. 13.3 The Assured shall give notice as soon as reasonably practicable of any fact or event which materially changes the information supplied to Underwriters at the time when this Policy was effected and Underwriters may amend the terms of this Policy according to the materiality of the change. 13.4 Where the premium is provisionally based on the Assured's estimates, the Assured shall keep accurate records and after expiry of the Period of Insurance declare as soon as possible such details as Underwriters require. The premium shall then be adjusted and any difference paid by or allowed to the Assured as the case may be subject to any minimum premium that may apply. 13.5 The Underwriters may at any time pay to the Assured in connection with any claim or series of claims under this Policy to which an Indemnity Limit applies the amount of such Limit (after deduction of any sums already paid) or any lesser amount for which such claims can be settled and upon such payment being made the Underwriters shall relinquish the conduct and control of and be under no further liability in connection with such claims except for the payment of Defence Costs incurred prior to the date of such payment (unless the Indemnity Limit is stated to be inclusive of Defence Costs). Provided that if Underwriters exercise the above option and the amount required to dispose of any claim or series of claims exceeds the Indemnity Limit and such excess amount is insured either in whole or in part, with Defence Costs payable in addition to the Indemnity Limit under this Policy then the Underwriters will also contribute their proportion of subsequent Defence Costs incurred with their prior consent. 13.6 Any dispute concerning the interpretation of this Policy and/or Schedule .will be determined in accordance with the Law of England. The Assured and Underwriters submit to the exclusive jurisdiction of any court of competent jurisdiction within England and agree to comply with all requirements necessary to give such court jurisdiction. All matters arising hereunder shall be determined in accordance with the law and practice of such court. 13.7 Any phrase or word in this Policy will be interpreted in accordance with the law of England. The Policy and the Schedule shall be read together as the contract and any word or expression to which a specific meaning has been attached in any part of this Policy or the Schedule shall bear such specific meaning wherever it may appear. 13.8 The Underwriters may cancel this Policy by giving sixty days' notice in writing of such cancellation to the Assured's last known address. 13.9 Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers within 95 days of inception of this contract (or, in respect of instalment premiums, when due). If any the premium due under this contract has not been so paid to (Re)Insurers by the 95th day from the inception of this contract (and, in respect of instalment premiums, by the date they are due) (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this Policy contract. It is agreed that (Re)Insurers shall give not less than 30 days prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period. If any respect fraudulent all benefit under provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the Policy shall be forfeitedother provisions of this clause which will remain in full force and effect. NORTH AMERICAN CONDITIONS 30/09/08 LSW3001 Notwithstanding anything to the contrary contained herein, this Policy shall be subject to the following additional clauses, in respect of any judgment, award, payment or settlement made within countries which operate under the laws of the United States of America or Canada: Industries, Seepage, Pollution and Contamination Exclusion Clause No.4 This Insurance does not cover any liability for: (1) Personal Injury or Bodily Injury or loss of, or damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination. (2) The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. (3) Fines, penalties, punitive or exemplary damages. NMA1686 Punitive And Exemplary Damage Exclusion Clause Regardless of any other provision of this insurance, this insurance does not apply to punitive or exemplary damages. NMA1933 Costs Inclusive Clause The limit of liability in respect of any claim together with the legal costs recoverable and the costs and expenses incurred in the defence or settlement of any such claim shall not exceed in all hereunder the limit of liability stated in the policy. SANCTION LIMITATION AND EXCLUSION CLAUSE No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. 15/09/10 LMA3100 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter

GENERAL CONDITIONS. (Conditions 13.1 to 13.4 are precedent to Underwriters' liability to provide indemnity under this Policy). 13.1 The Assured shall give written notice to the Underwriters as soon as reasonably practicable of any occurrence that may give rise to a claim under this Policy and shall give all such additional information as the Underwriters may require. Every claim, writ, summons or process and all documents relating thereto shall be forwarded to the Underwriters immediately they are received by the Assured. 13.2 No admission, offer, promise or payment shall be made or given by or on behalf of the Assured without the prior written consent of the Underwriters who shall be entitled to take over and conduct in the name of the Assured the defence or settlement of any claim or to prosecute in the name of the Assured to their own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Assured shall give all such information and assistance as the Underwriters may reasonably require. 13.3 The Assured shall give notice as soon as reasonably practicable of any fact or event which materially changes the information supplied to Underwriters at the time when this Policy was effected and Underwriters may amend the terms of this Policy according to the materiality of the change. 13.4 Where the premium is provisionally based on the Assured's estimates, the Assured shall keep accurate records and after expiry of the Period of Insurance declare as soon as possible such details as Underwriters require. The premium shall then be adjusted and any difference paid by or allowed to the Assured as the case may be subject to any minimum premium that may apply. 13.5 The Underwriters may at any time pay to the Assured in connection with any claim or series of claims under this Policy to which an Indemnity Limit applies the amount of such Limit (after deduction of any sums already paid) or any lesser amount for which such claims can be settled and upon such payment being made the Underwriters shall relinquish the conduct and control of and be under no further liability in connection with such claims except for the payment of Defence Costs incurred prior to the date of such payment (unless the Indemnity Limit is stated to be inclusive of Defence Costs). Provided that if Underwriters exercise the above option and the amount required to dispose of any claim or series of claims exceeds the Indemnity Limit and such excess amount is insured either in whole or in part, with Defence Costs payable in addition to the Indemnity Limit under this Policy then the Underwriters will also contribute their proportion of subsequent Defence Costs incurred with their prior consent. 13.6 Any dispute concerning the interpretation of this Policy and/or Schedule .will be determined in accordance with the Law of England. The Assured and Underwriters submit to the exclusive jurisdiction of any court of competent jurisdiction within England and agree to comply with all requirements necessary to give such court jurisdiction. All matters arising hereunder shall be determined in accordance with the law and practice of such court. 13.7 Any phrase or word in this Policy will be interpreted in accordance with the law of England. The Policy and the Schedule shall be read together as the contract and any word or expression to which a specific meaning has been attached in any part of this Policy or the Schedule shall bear such specific meaning wherever it may appear. 13.8 The Underwriters may cancel this Policy by giving sixty days' notice in writing of such cancellation to the Assured's last known address. 13.9 If any claim under this Policy is in any respect fraudulent all benefit under the Policy shall be forfeited. NORTH AMERICAN CONDITIONS Notwithstanding anything to the contrary contained herein, this Policy shall be subject to the following additional clauses, in respect of any judgment, award, payment or settlement made within countries which operate under the laws of the United States of America or Canada: Industries, Seepage, Pollution and Contamination Exclusion Clause No.4 This Insurance does not cover any liability for: (1) Personal Injury or Bodily Injury or loss of, or damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination. (2) The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. (3) Fines, penalties, punitive or exemplary damages. NMA1686 Punitive And Exemplary Damage Exclusion Clause Regardless of any other provision of this insurance, this insurance does not apply to punitive or exemplary damages. NMA1933 Costs Inclusive Clause The limit of liability in respect of any claim together with the legal costs recoverable and the costs and expenses incurred in the defence or settlement of any such claim shall not exceed in all hereunder the limit of liability stated in the policy. SANCTION LIMITATION AND EXCLUSION CLAUSE No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. 15/09/10 LMA3100 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter

GENERAL CONDITIONS. (Conditions 13.1 to 13.4 are precedent to Underwriters' liability to provide indemnity under this Policy). 13.1 The Assured shall give written notice to the Underwriters as soon as reasonably practicable of any occurrence that may give rise to a claim under this Policy and shall give all such additional information as the Underwriters may require. Every claim, writ, summons or process and all documents relating thereto shall be forwarded to the Underwriters immediately they are received by the Assured. 13.2 No admission, offer, promise or payment shall be made or given by or on behalf of the Assured without the prior written consent of the Underwriters who shall be entitled to take over and conduct in the name of the Assured the defence or settlement of any claim or to prosecute in the name of the Assured to their own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Assured shall give all such information and assistance as the Underwriters may reasonably require. 13.3 The Assured shall give notice as soon as reasonably practicable of any fact or event which materially changes the information supplied to the Underwriters at the time when this Policy was effected and Underwriters may amend the terms of this Policy according to the materiality of the change. 13.4 Where the premium is provisionally based on the Assured's estimates, the Assured shall keep accurate records and after expiry of the Period of Insurance declare as soon as possible such details as Underwriters require. The premium Premium shall then be adjusted and any difference paid by or allowed to the Assured as the case may be subject to any minimum premium that may apply. 13.5 The Underwriters may at any time pay to the Assured in connection with any claim or series of claims under this Policy to which an Indemnity Limit applies the amount of such Limit (after deduction of any sums already paid) or any lesser amount for which such claims can be settled and upon such payment being made the Underwriters shall relinquish the conduct and control of and be under no further liability in connection with such claims except for the payment of Defence Costs incurred prior to the date of such payment (unless the Indemnity Limit is stated to be inclusive of Defence Costs). Provided that if Underwriters exercise the above option and the amount required to dispose of any claim or series of claims exceeds the Indemnity Limit and such excess amount is insured either in whole or in part, with Defence Costs payable in addition to the Indemnity Limit under this Policy then the Underwriters will also contribute their proportion of subsequent Defence Costs incurred with their prior consent. 13.6 Any dispute concerning the interpretation of this Policy and/or Schedule .will will be determined in accordance with the Law of England. The Assured and Underwriters submit to the exclusive jurisdiction of any court of competent jurisdiction within England and agree to comply with all requirements necessary to give such court jurisdiction. All matters arising hereunder shall be determined in accordance with the law and practice of such court. 13.7 Any phrase or word in this Policy will be interpreted in accordance with the law of England. The Policy and the Schedule shall be read together as the one contract and any word or expression to which a specific meaning has been attached in any part of this Policy or the Schedule shall bear such specific meaning wherever it may appear. 13.8 The Underwriters may cancel this Policy by giving sixty days' days notice in writing of such cancellation to the Assured's last known address. 13.9 If any claim under this Policy is in any respect fraudulent all benefit under the Policy shall be forfeited. NORTH AMERICAN CONDITIONS Notwithstanding anything to the contrary contained hereinCONTRACTUAL LIABILITY CLAUSE Including Contractual Liability but excluding any Contract or Agreement whether written, this Policy shall be subject to the following additional clauses, in respect of any judgment, award, payment verbal or settlement made within countries which operate under the laws of the United States of America or Canada: Industries, Seepage, Pollution and Contamination Exclusion Clause No.4 This Insurance does not cover any implied unless such liability for: (1) Personal Injury or Bodily Injury or loss of, or damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination. (2) The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. (3) Fines, penalties, punitive or exemplary damages. NMA1686 Punitive And Exemplary Damage Exclusion Clause Regardless of any other provision of this insurance, this insurance does not apply to punitive or exemplary damages. NMA1933 Costs Inclusive Clause The limit of liability in respect of any claim together with the legal costs recoverable and the costs and expenses incurred in the defence or settlement of would have attached notwithstanding any such claim shall not exceed in all hereunder the limit of liability stated in the policy. SANCTION LIMITATION AND EXCLUSION CLAUSE No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim Contract or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. 15/09/10 LMA3100 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matteragreement.

GENERAL CONDITIONS. (Conditions 13.1 to 13.4 are precedent to Underwriters' liability to provide indemnity under this Policy). 13.1 The Assured shall give written notice to the Underwriters as soon as reasonably practicable of any occurrence that may give rise to a claim under this Policy and shall give all such additional information as the Underwriters may require. Every claim, writ, summons or process and all documents relating thereto shall be forwarded to the Underwriters immediately they are received by the Assured. 13.2 No admission, offer, promise or payment shall be made or given by or on behalf of the Assured without the prior written consent of the Underwriters who shall be entitled to take over and conduct in the name of the Assured the defence or settlement of any claim or to prosecute in the name of the Assured to their own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Assured shall give all such information and assistance as the Underwriters may reasonably require. 13.3 The Assured shall give notice as soon as reasonably practicable of any fact or event which materially changes the information supplied to Underwriters at the time when this Policy was effected and Underwriters may amend the terms of this Policy according to the materiality of the change. 13.4 Where the premium is provisionally based on the Assured's estimates, the Assured shall keep accurate records and after expiry of the Period of Insurance declare as soon as possible such details as Underwriters require. The premium shall then be adjusted and any difference paid by or allowed to the Assured as the case may be subject to any minimum premium that may apply. 13.5 The Underwriters may at any time pay to the Assured in connection with any claim or series of claims under this Policy to which an Indemnity Limit applies the amount of such Limit (after deduction of any sums already paid) or any lesser amount for which such claims can be settled and upon such payment being made the Underwriters shall relinquish the conduct and control of and be under no further liability in connection with such claims except for the payment of Defence Costs incurred prior to the date of such payment (unless the Indemnity Limit is stated to be inclusive of Defence Costs). Provided that if Underwriters exercise the above option and the amount required to dispose of any claim or series of claims exceeds the Indemnity Limit and such excess amount is insured either in whole or in part, with Defence Costs payable in addition to the Indemnity Limit under this Policy then the Underwriters will also contribute their proportion of subsequent Defence Costs incurred with their prior consent. 13.6 Any dispute concerning the interpretation of this Policy and/or Schedule .will be determined in accordance with the Law of England. The Assured and Underwriters submit to the exclusive jurisdiction of any court of competent jurisdiction within England and agree to comply with all requirements necessary to give such court jurisdiction. All matters arising hereunder shall be determined in accordance with the law and practice of such court. 13.7 Any phrase or word in this Policy will be interpreted in accordance with the law of England. The Policy and the Schedule shall be read together as the contract and any word or expression to which a specific meaning has been attached in any part of this Policy or the Schedule shall bear such specific meaning wherever it may appear. 13.8 The Underwriters may cancel this Policy by giving sixty days' notice in writing of such cancellation to the Assured's last known address. 13.9 If any claim under this Policy is in any respect fraudulent all benefit under the Policy shall be forfeited. NORTH AMERICAN CONDITIONS Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers within 95 days of inception of this contract (or, in respect of instalment premiums, when due). If the premium due under this contract has not been so paid to (Re)Insurers by the 95th day from the inception of this contract (and, in respect of instalment premiums, by the date they are due) (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contract. It is agreed that (Re)Insurers shall give not less than 30 days prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Notwithstanding anything to the contrary contained herein, this Policy shall be subject to the following additional clauses, in respect of any judgment, award, payment or settlement made within countries which operate under the laws of the United States of America or Canada: Industries, Seepage, Pollution and Contamination Exclusion Clause No.4 This Insurance does not cover any liability for: (1) Personal Injury or Bodily Injury or loss of, or damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination. (2) The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. (3) Fines, penalties, punitive or exemplary damages. NMA1686 Punitive And Exemplary Damage Exclusion Clause Regardless of any other provision of this insurance, this insurance does not apply to punitive or exemplary damages. NMA1933 Costs Inclusive Clause The limit of liability in respect of any claim together with the legal costs recoverable and the costs and expenses incurred in the defence or settlement of any such claim shall not exceed in all hereunder the limit of liability stated in the policy. SANCTION LIMITATION AND EXCLUSION CLAUSE No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. 15/09/10 LMA3100 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter