Common use of Continuous Cover Clause in Contracts

Continuous Cover. CLAIM where the INSURED: a) first became aware, prior to the INSURANCE PERIOD, that a CLAIM might or could arise from facts or circumstances known to it; and b) had not notified its Insurer of such facts or circumstances prior to the INSURANCE PERIOD. The Prior Known Facts Exclusion 7.1 (a) and (b) will not apply to any notification to US during the INSURANCE PERIOD of any such CLAIM, provided that: i) WE were the professional liability insurer of the INSURED when the INSURED first became aware of such facts and circumstances; and ii) WE have continued, without interruption, to be the INSURED’s professional liability insurer up until this POLICY came into effect; iii) There has not been any fraudulent non-disclosure or fraudulent misrepresentation by the INSURED in respect of such facts or circumstances; and iv) WE have the discretion to apply either the terms and conditions of the policy on foot when the INSURED first became aware of the facts and circumstances, including but not limited to the indemnity limit and deductible, or the terms and conditions of this POLICY.

Continuous Cover. WE agree to provide cover for any CLAIM where the INSURED: a) first became aware, prior to the INSURANCE PERIOD, that a CLAIM might or could arise from facts or circumstances known to it; and b) had not notified its Insurer insurer of such facts or circumstances prior to the INSURANCE PERIOD. The Prior Known Facts Exclusion 7.1 . (a) and (b) will not apply to any notification to US during the INSURANCE PERIOD of any such CLAIM, provided that: i) WE were the professional management liability insurer of the INSURED when the INSURED first became aware of such facts and circumstances; and ii) WE have continued, without interruption, to be the INSURED’s professional management liability insurer up until this POLICY came into effect; iii) There has not been any fraudulent non-disclosure or fraudulent misrepresentation by the INSURED in respect of such facts or circumstances; and iv) WE have the discretion to apply either the terms and conditions of the policy Policy on foot when the INSURED first became aware of the facts and circumstances, including but not limited to the indemnity limit INDEMNITY LIMIT and deductibleDEDUCTIBLE, or the terms and conditions of this POLICY.