Common use of Accumulation clause Clause in Contracts

Accumulation clause. If several insured events occur: - due to the same cause; or - due to similar causes between which an internal, particularly causal and temporal connection exists; and these insured events are partially covered by - this professional liability insurance policy and partially by an environmental liability insurance policy and/or an environmental damages insurance, - an environmental liability insurance policy and partially by an environmental damages insurance policy, then the total amount of both insured sums shall N O T be available. The total insured amount available shall be no more than one insured sum in the event that both insured sums are the same otherwise it shall be a maximum of the higher insured sum. If the insured events covered by the professional liability insurance or environmental liability insurance or environmental damages insurance respectively occur in different insurance years, then the applicable insurance year for determining the maximum insured sums for these insured events shall be that in which the first insured event covered within the framework of the professional liability insurance occurred. If the policyholder has several liability insurances (individual contracts) by the insurer or its affiliates, the aforementioned provisions shall apply accordingly.

Accumulation clause. If several insured events occur: - due to the same cause; or - due to similar causes between which an internal, particularly causal and temporal connection exists; and these insured events are partially covered by - this professional liability insurance policy and partially by an environmental liability insurance policy and/or an environmental damages insurance, - an environmental liability insurance policy and partially by an environmental damages insurance policy, then the total amount of both insured sums shall N O T be available. The total insured amount available shall be no more than one insured sum in the event that both insured sums are the same otherwise it shall be a maximum of the higher insured sumsum . If the insured events covered by the professional liability insurance or environmental liability insurance or environmental damages insurance respectively occur in different insurance years, then the applicable insurance year for determining the maximum insured sums for these insured events shall be that in which the first insured event covered within the framework of the professional liability insurance occurred. If the policyholder has several liability insurances (individual contracts) by the insurer or its affiliates, the aforementioned provisions shall apply accordingly.