BENTON, BETSY 3 - 2009 - Laserfiche WebLink

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a) Immediately forward to the Insurers every demand, notice, summons and/or pleading received by the Insured; b) Give written notice, as soon as practicable, containing particulars sufficient to identify the Insured and claimant, and complete information regarding the facts and circumstances surrounding the involved matter. If the Insured becomes aware of a Wrongful Act that may reasonably be expected to give rise to a Claim, and if the Insured reports such Wrongful Act to the Insurers during the Policy Period in writing, then any Claim subsequently arising from such Wrongful Act duly reported in accordance with this paragraph shall be deemed under this Policy to be a Claim made during the Policy Period in which such written notice is received by the Insurers. Such written notice to the Insurers shall include a complete and comprehensive statement of the facts and circumstances surrounding the Wrongful Act. All notices under this Policy shall be given in writing as described in Item 8 of the Declarations, and with reference to the Policy Number indicated in the Declarations. Notice shall not become effective until the date of receipt by the Insurers. 2. Defense, Consent and Settlement a) Defense The Insurers have the sole right to appoint defense counsel and the right and duty to defend any Claim made against the Insured. b) Consent and Settlement As a condition precedent to coverage under this Policy, the Insured shall not admit liability for or settle any Claim or incur any Claims Expenses, without the prior written consent of the Insurers. However, the Insured must take all reasonable action within its ability to prevent or mitigate any Claim which would be covered under this Policy. The Insurers have the right to make such investigation and conduct negotiations and, with the written consent of the Insured, effect settlement of any Claim as the Insurers deem reasonable. If the Insured refuses to consent to a settlement or compromise recommended by the Insurers and elects to contest or continue to contest the Claim, the Insurers' liability shall not exceed the amount for which the Insurers would have been liable for Loss and Claims Expenses if the Claim had been so settled when and as so recommended, and the Insurers shall have the right to withdraw from the further defense of the Claim by tendering control of the defense thereof to the Insured. The Insurers shall not be obligated to pay any Loss or Claims Expenses, or to undertake or continue the defense of any Claim, after the applicable limit of the Insurers' liability has been exhausted by payment of Loss and Claims Expenses or after deposit of the applicable limit of the Insurers' liability with or subject to control of a court of competent jurisdiction. 3. Cooperation and Subrogation ADR (7/00) The Insured shall provide the Insurers with such cooperation, assistance and information as the Insurers may request, all without charge to the Insurers. In the event of any payment under this Policy, the Insurers shall be subrogated to all of the Insured's rights of recovery, and the Insured shall preserve and secure, and not prejudice, such rights. 4 of6