The basis of the contract is the proposal form. Premiums must be paid upfront before commencement of cover. Premiums form the basis or the consideration for indemnity.
The covers caters for all sums which the insured shall become legally liable to pay to any person as compensation, damages including claimants costs and expenses not exceeding the limits stated in the proposal form in respect of any action brought or counter claims made against the insured for negligence or alleged negligence, carelessness, omission, commission or any act or alleged act or default or alleged default whatsoever of the insured arising out of the business notice of a claim in respect of which has been given to the company during the currency or within six months after expiry of the period of insurance or cancellation of the policy.
In addition, Kenindia will pay for all costs and expenses of litigation incurred with its written consent in respect of a claim against the insured for compensation to which the insurance expressed in the policy applies.
Any documents entrusted to or property in the custody of the insured or any person thereof, if found destroyed or damaged or lost or mislaid and cannot be found, the Company will indemnify the insured against:
• Legal liability which the insured may incur in consequence of such documents.
• Costs and expenses of whatsoever nature in replacing or restoring such costs for damaged, destroyed, mislaid or lost property or documents.
The word “Insured” herein shall mean and will include any person who during the subsistence of the policy, be a partner in the firm or any person in the employment whether salaried or not, entrusted with and acting in good faith in the normal conduct of the insured’s business or practice.
NOTE: Terms and conditions apply.