Common use of Non-Imputation Clause in Contracts

Non-Imputation. (a) This policy shall operate severally in relation to each director. (b) In determining whether the insurer is entitled to avoid a director’s interest in this policy or reject a director’s claim for an indemnity under this policy, the insurer shall only take into account the proposal and the statements made by, or the knowledge possessed by, or the acts, omissions or conduct of that particular director. (c) In determining whether the insurer is entitled to avoid or rescind the company’s interest in this policy where cover is available to it, then the proposal and the statements made by, or the knowledge possessed by, or the acts, omissions or conduct on the part of, any two out of the company’s chairman of the board, managing director, finance director, chief legal officer or their equivalents shall be deemed to be imputed or attributable to the company.