Pool Re Clause Samples
Pool Re. 4.9.1 shall not be concerned as to how the MGA accounts to that Member in respect of the rights and obligations of membership; and
4.9.2 shall be under no duty to enquire as to the due authority and appointment of the MGA which is asserted both by the Member and the MGA.
Pool Re. In the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority issues a Certificate certifying an event or occurrence to have been an Act of Terrorism (defined for the purposes of this Section below) or in the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority refuses to issue a Certificate certifying an event or occurrence to have been an Act of Terrorism, and that refusal is reversed by the decision of a validly constituted Tribunal, the Company agrees to indemnify the Insured up to the limits of liability stated in the schedule against damage and/or business interruption proximately caused by such Act of Terrorism provided that:
1. Such damage and/or business interruption occurs in the specified territory;
Pool Re. In the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority issues a Certificate certifying an event or occurrence to have been an act of terrorism (defined for the purposes of this Section below) or in the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority refuses to issue a Certificate certifying an event or occurrence to have been an act of terrorism, and that refusal is reversed by the decision of a validly constituted Tribunal, the Company agrees to indemnify the Insured up to the Limits of Liability stated in the Schedule against damage and/or business interruption proximately caused by such act of terrorism provided that:
1. such damage and/or business interruption occurs in the specified territory.
2. in any action, suit or other proceedings where the Company alleges that any damage and/or business interruption is not covered by this Section the burden of proving that such damage and/or business interruption is covered shall fall upon the Insured.
3. the insurance effected by this Section excludes any losses whatsoever:
a) occasioned by riot, civil commotion, war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power;
b) directly or indirectly caused by or contributed to by or arising from or occasioned by or resulting from:
i. the alteration, modification, distortion, corruption of or damage to any computer or other equipment or component or system or item which processes, stores, transmits, retrieves or receives data or any part thereof whether tangible or intangible (including but without limitation any information or programs or software); or
ii. any alteration, modification, distortion, erasure, corruption of data processed by any such computer or other equipment or component or system or item;
c) whether the property of the Insured or not, where such damage is caused by virus or similar mechanism or hacking or phishing or denial of service attack; including consequential loss directly or indirectly caused by or arising from virus or similar mechanism or hacking or phishing or denial of service attack.
4. the insurance effected by this Section excludes:
a) any type of property which has been specifically excluded in Part 1 of this Policy;
b) any nuclear installation or nuclear reactor and all fixtures and fittings situated thereon and attached thereto and all...