Orange County NC Website
DocuSign Envelope ID:8B670D51-A7FD-4694-8E94-963553021305 <br /> TERMS, CONDITIONS AND OTHER PROVISIONS <br /> MANAGEMENT & PROFESSIONAL LIABILITY POLICY <br /> CONDITIONS <br /> Claims Reporting <br /> For the purposes of this Policy, all "claims,"including any"claims" made during an Extended Reporting <br /> Period, arising out of the same "wrongful act" and all "interrelated wrongful acts" of the "insureds" <br /> shall be deemed one "claim," and such "claim" shall be deemed to be first made against the "insureds" <br /> on the date the earliest of such "claims" is first made against them, regardless of whether such date is <br /> before or during the "policy period." <br /> As a condition precedent to the right to receive the benefit of any coverage provided by this Policy, the <br /> "insureds" must give written notice to the "insurance organization" of any "claim" as soon as <br /> practicable, but in no event later than 60 days from the expiration of the "policy period" or, if elected, <br /> no later than the expiration of the Extended Reporting Period. <br /> Notice of claim will occur upon knowledge of claim possessed by the: <br /> a. Chairperson; <br /> b. Titled Officer; <br /> c. Branch Manager; <br /> d. In-house counsel; <br /> e. Human Resource Manager, or <br /> any equivalent position. <br /> As a condition precedent to the right to receive the benefit of any coverage provided by this Policy, the <br /> "insureds" must provide the following information as part of the notice of"claim": <br /> a. The name of the claimant; <br /> b. The names of the "insureds"whose "wrongful acts" are involved in the "claim"; <br /> c. The date of the alleged "wrongful acts"; and <br /> d. A copy of any written demand, summons, complaint, lawsuit or legal notice comprising or giving <br /> notice of the "claim." <br /> As a condition precedent to the right to receive the benefit of any coverage provided by this Policy, the <br /> "insureds" must provide to the "insurance organization" such other information and cooperation as the <br /> "insurance organization" may reasonably request. <br /> MPL 0002 07 13 CUMIS Insurance Society, Inc. Page 22 of 30 <br />