Collective covers Clause Samples
The 'Collective covers' clause defines the terms under which insurance or protection is provided to a group of individuals or entities under a single policy or agreement. This clause typically outlines how coverage is extended to all members of the group, the conditions for inclusion or exclusion, and any limitations or requirements specific to collective arrangements. For example, it may apply to employees of a company or members of an association who are all insured under one master policy. The core function of this clause is to streamline coverage administration and ensure consistent protection for all eligible participants, reducing administrative complexity and potentially lowering costs.
Collective covers. If this cover is a collective cover then the following amendment is made to general condition 6(a) (iv) above: “give the leading company on behalf of the companies such proofs, information and sworn declaration as the companies may require and forward to the leading company immediately any notice of claim or any communication, writ, summons or other legal process issued or commenced against the participant in connection with the event giving rise to the claim.” and General condition 7 is substituted by the following: BODY CORPORATE General Provisions
Collective covers. If this cover is a collective cover then the following amendment is made to general condition 6(a) (iv) above: “give the leading insurer on behalf of the insurers such proofs, information and sworn declaration as the insurers may require and forward to the leading insurer immediately any notice of claim or any communication, writ, summons or other legal process issued or commenced against the participant in connection with the event giving rise to the claim.” and General condition 7 is substituted by the following: “7. Company’s rights after an event
a. On the happening of any event in respect of which a claim is or may be made under this agreement the leading insurer and every person authorised by them may, without thereby incurring any liability and without diminishing the right of the insurers to rely upon any conditions of this agreement i. take, enter or keep possession of any damaged property and deal with it in any reasonable manner. This condition shall be evidence of the leave and licence of the participant to the lead insurer on behalf of all insurers to do so. The participant shall not be entitled to abandon any property to the companies whether taken possession of by the leading insurer or not.
Collective covers. If the cover is a collective cover then the following amendment is made to General condition 6(a) (iv) above. “give the leading insurer on behalf of the insurers such proofs, information and sworn declaration as the insurers may require and forward to the leading insurer immediately any notice of claim or any communication, writ, summons or other legal process issued or commenced against the participant in connection with the event giving rise to the claim.” and General condition 7 is substituted by the following