

AFB MISC 2002 Miscellaneous Professional Liability Wording Highlights

COVERAGE:	Pays on behalf of the Insured Damages and Claims Expenses the Insured is legally obligated to pay because of a Claim arising out of any negligent act, error or omission in rendering or failing to render Professional Services Professional Services are scheduled on the Declarations A Claim must be first made and reported during the policy period. If a Retroactive Date is provided, coverage extends only to acts committed after the Retroactive Date

TERRITORY:	Worldwide acts and omissions, but Claim must be first made in the US or Canada

CLAIMS EXPENSES AND DAMAGES	Provides defense coverage with Claims Expenses included within the policy limit Does not cover punitive damages, the cost of responding to injunctive relief orders, fines, penalties, multiple damages, restitution, future profits, disgorgement, or offset of fees or commissions
EXCLUSIONS:	Indemnification for dishonest and fraudulent acts, but defense provided subject to reimbursement Bodily Injury or Property Damage - negotiable Fiduciary liability Prior knowledge of acts that might be expected to give rise to a claim Claims notified under prior policies Advertising injury, intellectual property claims, privacy and personal injury Contractual liability except where the liability would have existed in the absence of the contract Inaccurate description of the price of goods, products or services, breach of warranties or guarantees, inaccurate cost estimates, delay in delivery, failure to deliver or non-acceptance of goods or services RICO, ERISA, securities, shareholder, employment and discrimination Claims Antitrust, unfair competition, deceptive business practices or false or deceptive advertising Failure to buy bonds or insurance, failure to pay debt or financial guarantee, inability to pay or safeguard funds, or commingling of funds Losses caused by market value fluctuation Claims by one Insured against another Insured, or by an entity owned or controlled in whole or in part by an Insured Asbestos, pollution, war, terrorism, or nuclear or electromagnetic radiation This is a partial description of the policy exclusions. Please review the policy carefully for a complete listing and description of applicable exclusions.

CANCELLATION:	60 days, with a minimum of 30% retained premium

EXTENDED REPORTING:	12 months

OPTIONAL EXTENDED:	100% for 12 months

This summary is intended solely to provide information about some of the highlights of the AFB Misc. 2002 policy. It is not part of the insurance policy and is not intended to provide a complete description of the coverages, exclusions and conditions in the policy. Please review the policy form carefully.