Common use of Claims Reports Clause in Contracts

Claims Reports. The Insurer shall provide a report (a “Claims Report”) to any Firm to which it has issued a Policy either in the then current or in any previous Indemnity Period, within a reasonable time from receiving a request to do so, setting out (as applicable), as at the date specified in the Claims Report:— 7.6.1 a summary of each Claim of which the Insurer is aware made against the Firm under each Policy; and 7.6.2 the amount reserved by the Insurer against each Claim; and 7.6.3 the basis on which each such amount is calculated (for example, whether the figure represents a loss actually incurred, an estimate of probable maximum loss, or any other basis of reserving); and 7.6.4 whether or not each such amount includes Defence Costs; and 7.6.5 whether each such amount includes or is in excess of the amount of any Self-Insured Excess that may apply in relation to such Claim, and the amount of any such Self- Insured Excess; and

Claims Reports. The Insurer shall provide a report (a “Claims Report”) to any Firm to which it has issued a Policy either in the then current or in any previous Indemnity Period, within a reasonable time from receiving a request to do so, setting out (as applicable), as at the date specified in the Claims Report:— 7.6.1 a summary of each Claim of which the Insurer is aware made against the Firm under each Policy; and 7.6.2 the amount reserved by the Insurer against each Claim; and 7.6.3 the basis on which each such amount is calculated (for example, whether the figure represents a loss actually incurred, an estimate of probable maximum loss, or any other basis of reserving); and 7.6.4 whether or not each such amount includes Defence Costs; and 7.6.5 whether each such amount includes or is in excess of the amount of any Self-Insured Excess that may apply in relation to such Claim, and the amount of any such Self- Insured Excess; and 7.6.6 any amounts paid out in relation to each Claim, in each case indicating whether such sums include any Self-Insured Excess due from but not paid by the Firm.