Material Change

M-Clauses178 Views
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If at any time any change shall occur materially varying any of the facts relating to the Project, the Contract, this Policy or the degree of risk assumed hereunder, the Insured shall immediately give notice in writing of such Material Change in risk to the Insurers, supplying, as soon as possible thereafter, any further particulars as the Insurers may reasonably require.
In the event of a Material Change in risk, the continuance of this insurance shall be at terms and conditions to be agreed, in writing, between the Insured and the Insurers, but should the parties be unable to agree to the new terms and conditions within 30 days of the Insurers initially advising the Insured of their requirements, any indemnifiable Loss, Liability or Delay in Start-up shall be covered only to the extent it would have been covered had the Material Change not occurred.

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