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37 <br />If you would like to purchase the optional extended reporting period you must notify us and <br />pay us the optional extended reporting period premium stated in the Declarations page <br />within 30 days of cancellation or non-renewal. <br />The right to the optional extended reporting period will not be available to you where <br />cancellation or non-renewal by us is due to non-payment of the premium or your failure to <br />pay any amounts in excess of the applicable limit of liability or within the amount of the <br />applicable deductible as is required by this Policy in the payment of claims. <br />At the renewal of this Policy, our quotation of different premium, deductible, limits of liability <br />or changes in policy language will not constitute non-renewal by us. <br />13.Maintenance of employee automobile liability insurance <br />It is a condition precedent to indemnity under INSURING CLAUSE 6 (SECTIONS H and I only) <br />that all employees who operate an automobile in the course of your business activities will <br />maintain in full force and effect for the period of the policy primary automobile liability <br />insurance in an amount equal to, or greater than, the minimum primary automobile liability <br />limits required in the state of registration of the automobile. If you make a claim under <br />INSURING CLAUSE 6 (SECTIONS H and I only) and the employee has failed to meet these <br />requirements then this Policy will only respond to provide excess coverage as though the <br />requirements had been met, whereby you agree to pay all sums within and up to the required <br />minimum limit. <br />14.Mergers and acquisitions <br />If you acquire an entity during the period of the policy whose annual revenue does not exceed <br />20% of the company's annual revenue, as stated in its most recent annual financial <br />statements, cover is automatically extended under this Policy to include the entity as a <br />subsidiary. <br />If you acquire an entity during the period of the policy whose annual revenue exceeds 20% of <br />the company's annual revenue, as stated in its most recent annual financial statements, cover <br />is automatically extended under this Policy to include the entity as a subsidiary for 45 days. <br />We will consider providing cover for the acquired entity after the period of 45 days if: <br />a.you give us full details of the entity within 45 days of its acquisition; and <br />b.you accept any amendment to the terms and conditions of this Policy and agree to <br />pay any additional premium required by us. <br />In the event you do not comply with a. and b. above, cover will automatically terminate for the <br />entity 45 days after the date of its acquisition. <br />Cover for any acquired entity is only provided under this Policy for any act, error or omission <br />committed or alleged to have been committed on or after the date of its acquisition. <br />CFC Underwriting Limited is Authorized and Regulated by the Financial Conduct Authority <br />Technology v4.1 <br />©1999-2024 CFC Underwriting Ltd, All Rights Reserved <br /> <br />