WHEREAS the insured named in the Schedule hereto and carrying on the business/profession described in the said Schedule has applied to THE .................... COMPANY LIMITED (hereinafter called 'the COMPANY') for the indemnity hereinafter contained and has made a written proposal and declaration which shall be the basis of this contract and is deemed to be incorporated herein and has paid the premium as consideration for or on account of such indemnity.

NOW THIS POLICY WITNESSETH that subject to the terms exceptions and conditions contained herein or endorsed hereon the Company will indemnify the Insured against their legal liability to pay compensation including defense costs, fees and expenses anywhere in India in accordance with Indian Law.

The Indemnity applies only to claims arising out of losses and/or damages during the period of insurance first made in writing against the Insured during the Policy Period and Insured is indemnified in accordance with Operative Clause for any breach of Professional duty by reason of any negligent act, error or omission, whenever and wherever committed or alleged to have been committed during the period Of insurance, by

(i) the insured as stated in the Schedule

(ii) the predecessors in business of the said firm in respect of whom insurance coverage is expressly provided in the Schedule

(iii) any person at any time employed by the Insured or by such predecessors in business in the conduct, by or on behalf of the said firm or such predecessors of any business conducted in their professional capacity.

PROVIDED ALWAYS THAT

(a) such Act during the Period of Insurance results in a claim being first made in writing against the Insured during the policy period as stated in the Schedule.

(b) there shall be no liability hereunder for any claim made against the insured for act committed or alleged to have been committed prior to the Retroactive Date specified in the Schedule.

For the purpose of determining the Indemnity granted

(a) 'Policy Period' means the period commencing from the effective date and hour as shown in the Policy Schedule and at midnight on the expiry date as shown in the Policy Schedule.

(b) `Period of Insurance' means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.

(c) `Bodily Injury' means death, injury, illness or disease of or to any person.

Company's total liability to pay compensation, claimant's costs,fees and defence costs shall not exceed the limit of indemnity stated in the Schedule Indemnity Limit applies to any one claim or series of claims arising from one originating cause. Indemnity Limit shall represent the total amount of company's liability during the Policy Period.

The Company will pay all costs, fees and expenses incurred with their prior consent in the investigation, defence or settlement of any claim made against the Insured and the costs of representation at any inquest, inquiry or other proceedings in respect of matters which have a direct relevance to any claim made or which might be made against the Insured, provided such claim or claims are the subject of indemnity by the Policy. Such costs, fees and expenses are called `Defence Costs'.

Should the Insured notify the Company during the Policy Period in accordance with General Condition No. 10.1 of any specific event or circumstance which the company accepts may give rise to a claim or claims which form the subject of indemnity by this policy, then the acceptance of such notification means that the Company will deal with such claim or claims as if they had first been made against the Insured during the Policy period. The extension under the Clause will be subject to the maximum time limit laid down under the Indian Limitation Act in force from time to time.

In the event of non-renewal or cancellation of this Policy either by the Company or by the Insured, the Company will allow a time limit not exceeding 90 days from the date of expiry or cancellation of the policy, provided no insurance is in force during this extended reporting period for the same interest, for notification of claims for accidents which had taken place during the period of insurance but could not be made during the Policy Period, provided however, all claims made during the extended reporting period shall be handled as if they were made on the last day of the expiring policy period and are subject to the limits of indemnity and the terms, conditions and exceptions of the policy.

For the purpose of this policy where a series of losses and/or bodily injuries and/or deaths are attributable directly or indirectly to the same cause or error or omission relating to discharge of professional services all such losses and/or bodily injuries and/or death claims shall be added together and all such losses and/or bodily injuries and/or death shall be treated as one claim and such claim shall be deemed to have been made at the point in time when the first of the claims was made in writing. There shall, however, be no coverage for claims made arising from one specific cause which are made later than 3 years after the first claim of the series.

The Insured shall bear for each and every claim a compulsory Excess of 1/2% of the limit of Indemnity per Any One Year as shown in the schedule subject to minimum of Rs. 5,000/- and maximum of Rs. 1 lac.

In the event of the Insured opting the policy shall be subject to a voluntary excess as mentioned in the Schedule. This voluntary excess shall be applicable to each and every claim. The Company's liability shall attach for the claim in excess of such compulsory and voluntary excess.

Retroactive date, entered by the Insured /member in the previous Insurance details and as appearing in the schedule against the respective AOY, is subject to verification at the time of claim intimation under the policy and.

Notwithstanding anything contained in the schedule ,the Retroactive date of the previous AOY will be restricted to a date not earlier than 2 years from the date of commencement of this Insurance provided the Insurance cover is continuous. (i.e.without any break, one days break will not be considered as break in Insurance)