CONTRACTUAL AGREEMENTS

C-Clauses229 Views
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Where in the ordinary course of business the Insured enters into a contractual agreement which provides that the Insured shall indemnify and/or hold harmless and/or release from liability another party in respect of loss, destruction or damage which may occur as the result of any cause or event insured against by this Policy, this insurance shall not be prejudiced by the Insured entering into such agreement, and such indemnity and/or hold harmless provision(s) and/or release from liability shall be equally binding upon the Insurer(s).

Provided that the Insured’s officer(s) responsible for insurance shall, upon becoming aware of any such agreement, inform the Insurer(s) as soon as reasonably practicable and the Insured shall pay a reasonable pro rata additional premium upon request by the Insurer(s) from the date of any such material variation in risk.

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