SILVER & WRIGHT LLP 1 - 2013 - Laserfiche WebLink

Home Browse Search

4.23 Property Damage means injury to tangible property, including all resulting loss of use of that property or loss of use of tangible property that is not physically injured. 4.24 Reputation Claim means any: 1. Covered Act; 2. death, departure or debilitating illness of a Principal Insured; 3. potential dissolution of the Named Insured; 4. incident of workplace violence; or 5. other event, that the NAMED INSURED reasonably believes will have a material adverse effect upon the NAMED INSURED's reputation 4.25 Retroactive date means the date specified in Item 5 of the Declarations or covered act committed on or after that date. 4.26 We, our or us means the insurance company whose name appears on the Declarations of this policy. 4.27 You or your means the NAMED INSURED and any person which was, is or becomes any of the following: a. a partner, principal, director, member, officer or shareholder or employed lawyer of you but only while acting on your behalf; b. your employee or leased or temporary employee of you but only while acting on your behalf; c. an incorporated partner, including the shareholders thereof; d. any other person or law firm who is a lawyer or law firm and who is: (i) designated as "counsel" or "of counsel" to or (ii) engaged as an independent contractor or on a per diem basis by you, but in either case only while acting on your behalf; and e. the estate, heirs, executors, administrators, assigns, and legal representatives of any person or law firm who previously qualified as you in the event of your death, incapacity, insolvency, or bankruptcy but only to the extent that you would otherwise be provided coverage under this policy. f. the lawful spouse of any of you solely by reason of: 1. spousal status; or, II. a spouse's ownership interest in property or assets that are sought as recovery. This definition shall not apply to the extent a claim alleges any wrongful act by such spouse. In all events, coverage as afforded with respect to a claim made against you will only apply to covered acts committed or allegedly committed by you on or after the date you joined the NAMED INSURED and prior to the time you ceased to be a partner, principal, director, officer, shareholder or employee of the NAMED INSURED. 5. EXCLUSIONS This policy excludes coverage for any loss in connection with a claim 5.1 arising out of, based upon, or attributable to a criminal, fraudulent, malicious, or deliberate misrepresentation, or intentional or knowing violation of law or dishonest covered act on the part of any of you, or the gaining of any profit or advantage to which you were not legally entitled. This exclusion will not apply to defense costs incurred in defending any such claims until it is determined by any trial verdict, court ruling, regulatory ruling or legal admission, whether appealed or not, that you did commit such a dishonest, fraudulent, criminal or malicious act or omission, or deliberate misrepresentation, or intentional or knowing violation of law. This exclusion does not apply to any of you who did not intentionally participate in committing such act or had no knowledge or reason to believe such an act, omission or violation of law was being committed, and who made proper disclosure after obtaining personal knowledge of such conduct; 5.2 brought by or on behalf of you, in any capacity, against any other of you unless such claim arises solely out of professional services performed in an attorney client relationship; LPLPOL01 [10/10] Page 8 of 14 Protective Insurance Company