Common use of Notice of Circumstances Clause in Contracts

Notice of Circumstances. If during the Policy Period or the Extended Reporting Period, if exercised, the Insured first becomes aware of circumstances that could give rise to a Claim against the Insureds and give written notice of such circumstances to the Underwriter during the Policy Period or the Extended Reporting Period, if exercised, then any Claims subsequently arising from such circumstances shall be considered to have been made during the Policy Period. No coverage is afforded under this Coverage Section for fees, expenses or other loss incurred in connection with such circumstances prior to the time a Claim is actually made and reported to the Underwriter. The Insureds shall include with any such notice of circumstance a description of the circumstances, the nature of any potential Wrongful Act(s), the nature of the alleged or potential damage, the names of actual or potential claimants, and the manner in which the Insureds first became aware of the Wrongful Act(s).