SILVER & WRIGHT LLP 1 - 2013 - Laserfiche WebLink

Home Browse Search

1.2 Defense and Settlement: We have the right and duty to defend, subject to and as part of the Limits of Liability, any claim made against you during the policy period and reported in writing to us during the policy period or, if applicable, the extended reporting period pursuant to the terms of this policy for any actual or alleged covered act for which coverage is afforded under this policy, even if any of the allegations of the claim are groundless, false, or fraudulent. We have the right to make any investigation we deem necessary with respect to any claim or notice of a covered act under this policy. We have the right to make, with your written consent or the consent of your designee, any settlement of a claim under this policy. In all events, we will not be obligated to settle any claim, pay any loss, or undertake or continue defense of any claim after the applicable LIMIT OF LIABILITY has been exhausted by settlement of any claim or payment of any loss. In each such case, we will have the right to withdraw from the further defense of the claim by tendering control of the defense to you. You will not, except at your own cost, admit or assume any liability, settle any claim or incur any costs in connection with a claim without our written consent. 1.3 Coverage Extensions 1.3.1 Disciplinary Proceedings Subject to a limit of $50,000, we will pay on your behalf defense costs you incur responding to a disciplinary proceeding first commenced against you and reported to us in writing during the policy period, or an extended reporting period, if applicable, as a result of a covered act committed by you on or after the retroactive date. The limit of liability applicable to this section is the maximum amount payable for the policy period, regardless of the number of disciplinary proceedings first commenced during the policy period or the number of you subject to disciplinary proceedings and is in addition to the AGGREGATE LIMIT OF LIABILITY as set forth in the Declarations. No DEDUCTIBLE shall apply to this coverage extension. 1.3.2 Subpoena Expenses We will pay on your behalf defense costs incurred in responding to a subpoena for documents or testimony first received by you during the policy period, or an extended reporting period, if applicable, resulting solely from your rendering or failure to render professional services performed by you on or after the Retroactive Date and which has not resulted in a claim against you. We will, at your request, and upon receipt of a copy of the subpoena, retain an attorney to advise you regarding the document production and represent you during the preparation and giving of testimony. Any notification you give to us of such subpoena shall be deemed to be notification of a covered act that may give rise to a claim pursuant to CONDITIONS 6.3. Defense costs paid pursuant to this coverage extension are in addition to the AGGREGATE LIMIT OF LIABILITY as set forth in the Declarations. No DEDUCTIBLE shall apply to this coverage extension. 1.3.3 Expense Reimbursement Subject to a limit of $750 each day, $10,000 per claim and an aggregate of $50,000 for the policy period, we will reimburse each of you for actual loss of earnings and reasonable costs incurred when LPLPOL01 [10/10] Page 2 of 14 Protective Insurance Company