Common use of PERSONS INSURED Clause in Contracts

PERSONS INSURED. Each of the following is an Insured under this insurance to the extent set forth below: a) if the Named Insured designated in the Declarations is an individual, the person so designated; b) if the Named Insured designated in the Declarations is a partnership, the partnership so designated and any lawyers who are partners thereof; c) if the Named Insured designated in the Declarations is a Professional Corporation or Professional Association, the Professional Corporation or Professional Association so designated and any lawyers who are stockholders or members thereof; d) any lawyer or other person who is an employee of the Named Insured. IV Policy Period and Territory This policy applies to acts or omissions occurring anywhere in the world (provided claim is made or suit is brought within the United States of America, its territories or possessions or Canada), prior to the end of the policy period, if claim is first made during the policy period or an extended reporting period purchased in accordance with Condition IV. A claim is first made during the policy period or extended reporting period if during the policy period or extended reporting period the Insured shall have knowledge or become aware of any act or omission which could reasonably be expected to give rise to a claim under this policy, and shall, during the policy period or extended reporting period, give written notice thereof to the Company in accordance with Condition VII. If any claim is first made during a policy year alleging money damages which are payable under this policy, any additional claims which are made, or suits or proceedings in connection therewith which are brought subsequent to that policy year for money damages resulting from the same or related acts or omissions shall be considered part of the claim which was first made during that policy year. A claim shall be considered to be first made when the Company first receives written notice of the claim or of any event which could reasonably be expected to give rise to a claim. V Fiduciary Coverage Subject to the other terms, conditions and exclusions of this policy, when the Insured lawyer acts as a court appointed administrator, conservator, executor, guardian, trustee or in any similar court appointed fiduciary capacity, his/her acts or omissions in such capacity shall be deemed for the purpose of this policy to be the performance of professional services for others in the Insured’s capacity as a lawyer, provided that this policy shall not apply to any claim or claims based upon alleged error of the Insured in the exercise of investment judgment.

PERSONS INSURED. Where the Insured first named in the Schedule is designated as: - an individual, such individual is an Insured: - a partnership or joint venture, such partnership or joint venture and the partners or members of such partnership or joint venture are Insureds, but only in respect of the conduct of the insured profession for such partnership or joint venture; - an organization other than a partnership or joint venture, such organization and its executive officers and directors are Insureds, but only in respect of the conduct of the insured profession for such organization. The stockholders of such organization are also Insured’s, but only in respect of their liability as stockholders. Each of the following is also an Insured: (a) the employees of the Insured first named in the Schedule, but only for acts within the scope of their employment by the Insured and undertaken while under this insurance the direction, control or supervision of the Insured first named in the Schedule; (b) any person who, during the policy period, becomes a partner, member, stockholder or, subject to the extent set forth below: provisions of paragraph (a) if the Named Insured designated in the Declarations is an individualof this Section 2., the person so designated; b) if the Named Insured designated in the Declarations is a partnership, the partnership so designated and any lawyers who are partners thereof; c) if the Named Insured designated in the Declarations is a Professional Corporation or Professional Association, the Professional Corporation or Professional Association so designated and any lawyers who are stockholders or members thereof; d) any lawyer or other person who is an employee of the Named Insured. IV Policy Period and Territory This policy applies to acts or omissions occurring anywhere Insured first named in the world (provided Schedule; provided, however, that such person shall only be an Insured with respect to a claim if such claim seeks damages against such Insured because of: - an incident which takes place after the date on which such person became a partner, member, stockholder or employee of the Insured first named in the Schedule; or - an incident which takes place before the date on which such person became a partner, member, stockholder or employee of the Insured first named in the Schedule, if such claim is made against the person solely by reason of his status as a partner, member, stockholder or suit is brought within the United States of America, its territories or possessions or Canada), prior to the end employee of the policy period, if Insured first named in the Schedule at the time the claim is first made made, and such claim arises out of the conduct of the insured profession by one who was an Insured at the time of the relevant incident; and (c) any person who previously qualified as an Insured under the foregoing provisions of this Section 2; provided, however, that such person shall only be an Insured with respect to incidents which took place during the policy period or in which such person previously so qualified as an extended reporting period purchased in accordance with Condition IVInsured. A claim is first made during the policy period or extended reporting period if during the policy period or extended reporting period the Insured shall have knowledge or become aware of any act or omission which could reasonably be expected to give rise to a claim under this policy, and shall, during the policy period or extended reporting period, give written notice thereof to the Company in accordance with Condition VII. If any claim is first made during a policy year alleging money damages which are payable under this policy, any additional claims which are made, or suits or proceedings in connection therewith which are brought subsequent to that policy year for money damages resulting from the same or related acts or omissions shall be considered part of the claim which was first made during that policy year. A claim shall be considered to be first made when the Company first receives written notice of the claim or of any event which could reasonably be expected to give rise to a claim. V Fiduciary Coverage Subject to all the other terms, terms and conditions and exclusions of this policy, when coverage shall extend to claims for incidents caused by Insureds made against the estates, heirs, legal representatives or assigns of a deceased Insured, or made against the legal representatives or assigns of any Insured lawyer acts as a court appointed administrator, conservator, executor, guardian, trustee in the event of such Insured's incompetency or in any similar court appointed fiduciary capacity, his/her acts bankruptcy. No person or omissions in such capacity shall be deemed for organization is an Insured with respect to the purpose of this policy to be the performance rendering of professional services for others in connection with any current or past partnership or joint venture that is not the Insured first named in the Insured’s capacity as a lawyer, provided that this policy shall not apply to any claim or claims based upon alleged error of the Insured in the exercise of investment judgmentSchedule.

PERSONS INSURED. Where the Insured first named in the Schedule is designated as: - an individual, such individual is an Insured: - a partnership or joint venture, such partnership or joint venture and the partners or members of such partnership or joint venture are Insureds, but only in respect of the conduct of the insured profession for such partnership or joint venture; - an organization other than a partnership or joint venture, such organization and its executive officers and directors are Insureds, but only in respect of the conduct of the insured profession for such organization. The stockholders of such organization are also Insured’s, but only in respect of their liability as stockholders. Each of the following is also an Insured: (a) the employees of the Insured first named in the Schedule, but only for acts within the scope of their employment by the Insured and undertaken while under this insurance the direction, control or supervision of the Insured first named in the Schedule; (b) any person who, during the policy period, becomes a partner, member, stockholder or, subject to the extent set forth below: provisions of paragraph (a) if the Named Insured designated in the Declarations is an individualof this Section 2., the person so designated; b) if the Named Insured designated in the Declarations is a partnership, the partnership so designated and any lawyers who are partners thereof; c) if the Named Insured designated in the Declarations is a Professional Corporation or Professional Association, the Professional Corporation or Professional Association so designated and any lawyers who are stockholders or members thereof; d) any lawyer or other person who is an employee of the Named Insured. IV Insured Professional Indemnity Insurance Policy Period and Territory This policy applies to acts or omissions occurring anywhere Page 6 of 17 Bajaj Allianz General Insurance Company Ltd. first named in the world (provided Schedule; provided, however, that such person shall only be an Insured with respect to a claim if such claim seeks damages against such Insured because of: - an incident which takes place after the date on which such person became a partner, member, stockholder or employee of the Insured first named in the Schedule; or - an incident which takes place before the date on which such person became a partner, member, stockholder or employee of the Insured first named in the Schedule, if such claim is made against the person solely by reason of his status as a partner, member, stockholder or suit is brought within the United States of America, its territories or possessions or Canada), prior to the end employee of the policy period, if Insured first named in the Schedule at the time the claim is first made made, and such claim arises out of the conduct of the insured profession by one who was an Insured at the time of the relevant incident; and (c) any person who previously qualified as an Insured under the foregoing provisions of this Section 2; provided, however, that such person shall only be an Insured with respect to incidents which took place during the policy period or in which such person previously so qualified as an extended reporting period purchased in accordance with Condition IVInsured. A claim is first made during the policy period or extended reporting period if during the policy period or extended reporting period the Insured shall have knowledge or become aware of any act or omission which could reasonably be expected to give rise to a claim under this policy, and shall, during the policy period or extended reporting period, give written notice thereof to the Company in accordance with Condition VII. If any claim is first made during a policy year alleging money damages which are payable under this policy, any additional claims which are made, or suits or proceedings in connection therewith which are brought subsequent to that policy year for money damages resulting from the same or related acts or omissions shall be considered part of the claim which was first made during that policy year. A claim shall be considered to be first made when the Company first receives written notice of the claim or of any event which could reasonably be expected to give rise to a claim. V Fiduciary Coverage Subject to all the other terms, terms and conditions and exclusions of this policy, when coverage shall extend to claims for incidents caused by Insureds made against the estates, heirs, legal representatives or assigns of a deceased Insured, or made against the legal representatives or assigns of any Insured lawyer acts as a court appointed administrator, conservator, executor, guardian, trustee in the event of such Insured's incompetency or in any similar court appointed fiduciary capacity, his/her acts bankruptcy. No person or omissions in such capacity shall be deemed for organization is an Insured with respect to the purpose of this policy to be the performance rendering of professional services for others in connection with any current or past partnership or joint venture that is not the Insured first named in the Insured’s capacity as a lawyer, provided that this policy shall not apply to any claim or claims based upon alleged error of the Insured in the exercise of investment judgmentSchedule.