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Professional Liability Insurance Policy <br />In the event of a Claim, no Insured shall undertake any of the actions listed below, without <br />the Company's prior, written consent. Any of the following actions by the Insured shall be <br />deemed to materially prejudice the Company's rights: <br />1. Engage counsel to provide legal representation; <br />2. Forgive, reduce in amount or otherwise compromise any compensation owed or <br />allegedly owed to the Named Insured; <br />3. Admit, or in any manner acknowledge liability; or <br />4. Effectuate or attempt to effectuate settlement, including, but not limited to, entering <br />into a consent decree involving the assignment of the Insured's interest under this <br />Policy. <br />D. ASSIGNMENT <br />The First Named Insured may assign this Policy with the Company's written consent, <br />which shall not be unreasonably withheld or delayed; however, no assignment shall bind <br />the Company until it has issued an endorsement that is made a part of this Policy. <br />E. BANKRUPTCY <br />Bankruptcy or insolvency or receivership of the Insured or the Insured's estate does not <br />relieve the Company of its obligations under this Policy; however, this provision does not <br />apply if this Policy is cancelled by the Company due to nonpayment of premium or <br />deductible. <br />F. CANCELLATION <br />The First Named Insured may cancel this Policy by mailing to the Company written notice <br />stating when such cancellation shall become effective. The Company may cancel this <br />Policy by mailing to the Named Insured, at the mailing address specified in the <br />Declarations, written notice stating when not less than thirty (30) days thereafter such <br />cancellation shall become effective, except in the event of the Named Insured's non- <br />payment of premium, not less than ten (10) days advanced notice of cancellation shall be <br />given. The mailing of notice aforementioned shall be sufficient proof of either party's intent <br />to cancel. The effective date of cancellation specified in such notice shall terminate this <br />Policy Period. Delivery of such notice shall be equivalent to mailing. If the Named Insured <br />cancels, the earned premium shall be computed in accordance with the customary short <br />rate table. If the Company cancels, the earned premium shall be computed pro rata. The <br />Company will tender any return premium subject to retaining a minimum earned premium <br />equivalent to 25% of the premium amount specified in the Declarations. Premium may be <br />adjusted either at the time of the cancellation effective date or as soon as practicable <br />thereafter, but tender of the unearned premium or return of this Policy, shall not be <br />conditions precedent to cancellation hereunder. <br />G. CHANGES <br />The terms of this Policy shall not be amended, waived or otherwise changed, except by <br />endorsement issued by the Company and made a part of this Policy. <br />H. CONCEALMENT OR FRAUD <br />This entire Policy shall be voidable if, whether before or after Damage <br />Expenses are incurred or a Claim is first made, the Insured has made <br />ECC-1313-0118 © Freberg Environmental, 2018 <br />All rights reserved. <br />REVIEWED 6 APPROVED BY: <br />A+SU A"V44 <br />Ruk Management Spenaust <br />