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HISCOX <br />In consideration of the premium charged and in reliance on the statements made and information provided to Us, <br />including but not limited to the statements made and information provided in and with the Application, which is made a <br />part of this Policy, as well as subject to the Limits of Liability, the Deductible and all of the terms, conditions, limitations <br />and exclusions of this Policy, We and You agree as follows: <br />DPL P001 CW (05113) <br />A. INSURING AGREEMENT <br />We shall pay on Your behalf Damages and Claim Expenses in excess of the <br />Deductible resulting from any covered Claim that is first made against You during <br />the Policy Period and reported to Us pursuant to the terms of the Policy for <br />Wrongful Acts committed on or after the Retroactive Date. <br />We shall also pay on Your behalf all Supplemental Payments in connection with <br />any covered Claim that is first made against You during the Policy Period and <br />reported to Us pursuant to the terms of the Policy for Wrongful Acts committed on <br />or after the Retroactive Date. No Deductible shall apply to Supplemental <br />Payments. <br />B. DEFENSE <br />1. We shall have the right and the duty to defend any covered Claim, even if such <br />Claim is groundless, false or fraudulent. <br />2. We shall have the right to appoint defense counsel upon being notified of such <br />Claim. <br />3. Notwithstanding paragraph 2., We shall have no obligation to pay Claim <br />Expenses until You have satisfied the applicable Deductible. <br />4. Our duty to defend shall terminate upon the exhaustion of the Limit of Liability <br />as set forth in Item 3. of the Declarations. <br />C. SETTLEMENT <br />1. We shall have the right to solicit and negotiate settlement of any Claim. <br />2. We shall not, however, enter into a settlement without Your prior consent, which <br />consent shall not be unreasonably withheld. <br />3. If You shall refuse to consent to any settlement recommended by Us, Our <br />liability for such Claim shall not exceed the amount for which such Claim could <br />have been settled plus Claim Expenses incurred up to the date of such refusal. <br />Risk yryry M��4. ,• REmEWESAPPROV®E1. <br />'. <br />Risk Managemen[Matys[ <br />