Summary
This document outlines changes to the Defence Costs clause and the definition of a Single Claim within the AQUW168 insurance policy, emphasizing that defence costs are included within the limit of indemnity and erode the excess.
AQUW168: Defence Costs and Single Claim Definition
Highlights
Defence Costs Coverage
The AQUW168 insurance policy clarifies that Defence Costs will be paid by the Insurer or by the Insured with prior written consent from the Insurer. Importantly, these Defence Costs form part of the Limit of Indemnity and will reduce any applicable Excess for a Single Claim.
Definition of 'Single Claim'
The definition of 'Single Claim' has been updated to encompass one or more claims or insured matters (including Defence Costs) that are attributable to, based upon, or arise from the same act, error, omission, or series of such events, or a single originating cause or source. This applies irrespective of the number of claimants, causes of action, or Insureds involved.