ECHAN, BARBARA A. 2 - 2009 - Laserfiche WebLink

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Business Risk Partners ALTERNATE DISPUTE RESOLUTION PROFESSIONAL LIABILITY INSURANCE POLICY In consideration of the payment of the premium, and in reliance upon the Application which shall be the basis of this Policy and deemed to be incorporated herein, and subject to all the terms, conditions, limitations and any endorsements to this Policy, the Insurers and the Insured agree as follows: I. INSURING AGREEMENT The Insurers will pay on behalf of the Insured all sums in excess of the Deductible amount stated in the Declarations which the Insured shall become legally obligated to pay as Loss and Claims Expenses resulting from Claims first made against the Insured during the Policy Period as a result of a Wrongful Act by the Insured or any person or entity for whom the Insured is legally liable, solely while performing Alternate Dispute Resolution Services for others, provided that such Wrongful Act was committed on or after the Retroactive Date and before the end of the Policy Period. The Insurers will further pay Claims Expenses resulting from an action brought against the Insured to compel or prevent the release of confidential or privileged information. As a condition precedent to coverage under this Policy, the Insured shall report such Claim in writing to the Insurers, as soon as practicable, but in no event later than 60 days after expiration or termination of this Policy, or during the Extended Reporting Period, if applicable, and that prior to the inception date of this Policy Period no Insured knew or could have reasonably foreseen that any Wrongful Act might give rise to a Claim. II. DEFINITIONS 1. "Alternate Dispute Resolution Services" means professional services as 1) an Arbitrator, 2) a Mediator; 3) a Fact Finder, 4) a Referee; 5) a Special Master, 6) a Neutral Evaluator; 7) a Judge Pro Tem; or 8) a Private Judge; 2. "Arbitrator" means a neutral person appointed by parties to a dispute to issue an award after a hearing at which both parties have an opportunity to be heard and /or submit written argument, and present evidence; 3. "Claim" means any civil action, suit, proceeding, or written demand for money or Equitable Relief received by any Insured as a result of an alleged Wrongful Act committed by any Insured; 4. "Claims Expenses" means reasonable and necessary fees, costs and expenses incurred by the Insurers, or by the Insured with the prior written consent of the Insurers, subject to the limitations set forth in Section IV.2(b) - Consent and Settlement, consisting of fees, costs and expenses resulting from the investigation, adjustment, defense and appeal of a Claim, including the fees, costs and expenses associated with any alternate dispute resolution services, and also including the cost of appeal bonds; however, the Insurers shall not be obligated to apply for or furnish appeal bonds; Claims Expenses do not include: a) -- -- salary- charges wages -or- expenses -of- partners; principals,— officers,—iirectors members -or -- employees of the Insured or b) any amounts incurred in the defense of any Claim for which any other insurer has a duty to defend, whether or not such insurer assumes such a duty; 5. "Equitable Relief" means a remedy not involving the payment of money damages; ADR (7/00) 1 of 6