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38 <br />No cover will be automatically provided under this Policy for any acquired entity: <br />a.whose business activities are materially different from your business activities; <br />b.that has been the subject of any lawsuit, disciplinary action or regulatory investigation <br />in the 3 year period prior to its acquisition; or <br />c.that has experienced a cyber event in the 3 years period prior to its acquisition, if you <br />have purchased INSURING CLAUSES 2, 3, 4 or 5 and the cyber event cost more than <br />the highest deductible of INSURING CLAUSES 2, 3, 4 or 5 <br />If during the period of the policy you consolidate, merge with or are acquired by another <br />entity then all coverage under this Policy will terminate at the date of the consolidation, <br />merger or acquisition unless we have issued an endorsement extending coverage, and you <br />have agreed to any additional premium and terms of coverage required by us. <br />15.New subsidiaries <br />If you create an entity during the period of the policy cover is automatically extended under <br />this Policy to include the entity as a subsidiary for 45 days. <br />We will consider providing cover for the created entity after the period of 45 days if: <br />a.you give us full details of the entity within 45 days of its creation; 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 creation. <br />Cover for any created 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 creation. <br />No cover will be automatically provided under this Policy for any created entity whose <br />business activities are materially different from your business activities. <br />16.Our rights of recovery <br />If we make any payment under this Policy and you have any right of recovery against a third <br />party in respect of this payment, then we will maintain this right of recovery. You will do <br />whatever is reasonably necessary to secure this right and will not do anything after the event <br />which gave rise to the claim to prejudice this right. <br />We will not exercise any rights of recovery against any employee, unless this is in respect of <br />any fraudulent or dishonest acts or omissions as proven by final adjudication, arbitral tribunal <br />or written admission by the employee. <br />Any recoveries will be applied as follows: <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 />