Examples of Covered Claims in a sentence
Limits & GSTCover under this Policy shall not exceed the Policy Limit for any one Claim or series of Claims (including Covered Claims) arising from the same or interrelated acts, errors or omissions.
Further, this Policy does not provide Cover for any investigation or defence costs associated with such Claims or Covered Claims.
Payments to settle potential ClaimsAny money We pay to settle anything which might give rise to aClaim (or Covered Claim), is taken to be:a) a payment to settle a Claim (or Covered Claim); andb) a payment for the purpose of calculating the total of allClaims (or Covered Claims) under this Policy.
In addition, this Policy does not provide Cover for any investigation or defence costs associated with such Claims or Covered Claims.
Notwithstanding a) above, We do not provide Cover for any Claims or Covered Claims directly or indirectly based upon, or attributable to, or inconsequence of any dishonest, fraudulent, criminal or malicious acts or omissions which the Policyholder knew, or ought reasonably to have known of, or suspected or ought reasonably to have suspected,at or prior to the time of such acts or omissions and failed to take any reasonable action to prevent.