Presentation of the risk

In agreeing to insure you and in setting the terms and premium, we have relied on the information you have given us. You must provide a fair presentation of the risk and must take care when answering any questions we ask by ensuring that all information provided is accurate and complete. A fair presentation is one which clearly discloses in a reasonably clear and accessible manner all material facts which you (including your senior management and those responsible for arranging this insurance) know or ought to know following a reasonable search.

If you fail to make a fair presentation

If we establish that you deliberately or recklessly failed to present the risk to us fairly, we may treat this policy as if it never existed and refuse to make any payment under it. You must reimburse all payments already made by us and we will be entitled to retain all premiums paid.

If we establish that you failed to present the risk to us fairly but that your failure was not deliberate or reckless, the remedy we will have available to us will depend upon what we would have done had you made a fair presentation of the risk, as follows:

• f we would not have provided this policy, we may treat it as if it never existed and refuse to make any payment under it. You must reimburse all payments already made by us. We will refund any premiums you have paid; or
• if we would have provided this policy on different terms (other than as to premium), we will treat it as if it had been provided on such different terms from the start of the period of insurance. This may result in us making no payment for a particular claim or loss. You must reimburse any payment made by us that we would not have paid if such terms had been in effect.

Change of circumstances

You must tell us as soon as reasonably possible of any change in circumstances during the period of insurance which may materially affect this policy (a material fact or circumstance is one which might affect our decision to provide insurance or the conditions of that insurance). We may then change the terms and conditions of this policy or cancel it in accordance with the Cancellation condition.

If you fail to notify us of a change of circumstances

If we establish that you deliberately or recklessly failed to:

• notify us of a change of circumstances which may materially affect the policy; or
• comply with the obligation in 1. above to make a fair presentation of the risk to us when providing us with information in relation to a change of circumstances;

we may treat this policy as if it no longer existed from the date of such change of circumstances and refuse to make any payment under it in respect of any claim made or any loss occurring after that date.

If we establish that you failed to notify us of a change of circumstances or to make a fair presentation of the risk to us when providing us with information in relation to a change of circumstances, but that your failure was not deliberate or reckless, the remedy we will have available to us will depend upon what we would have done had you fairly presented the change of circumstances to us, as follows:

• if we would have cancelled this policy, we may treat it as cancelled from the date that such cancellation would have been effective and refuse to make any payment under it in respect of any claim made or any incident occurring after that date. You must reimburse any payments already made by us relating to claims made or losses occurring after such date. We will refund any premiums you have paid in respect of any period after the date when cancellation would have been effective; or
• if we would have provided this policy on different terms (other than as to premium), we will treat it as if it had been provided on such different terms from the date when your circumstances changed. This may result in us making no payment for a particular claim or loss.

Cancellation

You can cancel your policy online or we can cancel the policy by giving 30 days’ written notice. We will give you a pro-rata refund of the premium (minus admin charge) for the remaining portion of the period of insurance after the effective date of cancellation for which you have already paid. However, we will not refund any premium under £20.

If we have agreed that you can pay us the premium by instalments and we have not received an instalment 14 days after the due date, we may cancel the policy. In this event, the period of insurance will equate to the period for which premium instalments have been paid to us. We will confirm the cancellation and amended period of insurance to you in writing.

General claims conditions

The following claims conditions apply to the whole of this policy. You must also comply with the conditions shown in each section of the policy under the heading Your obligations.

Fraud

If you or anyone entitled to cover in respect of any claim or loss, or anyone on behalf of you or such other person, tries to deceive us by deliberately giving us false information or making a fraudulent claim under this policy then:

• we shall be entitled to give you notice of termination of the policy with effect from the date of any fraudulent act or claim or the provision of such false information;
• we shall be entitled to refuse to make any payment under the policy in respect of any claim made or any loss occurring after the date of any fraudulent act or claim or the provision of such false information;
• you must reimburse all payments already made by us relating to claims made or losses occurring after the date of any fraudulent act or claim or the provision of such false information; and
• we shall be entitled to retain all premiums paid.

This does not affect your rights in relation to any claim made or loss occurring before the date of any fraudulent act or claim or the provision of such false information.

Where this policy provides cover for any individual who, or entity that, is not a party to the policy, and where such an individual or entity (or anyone on their behalf) tries to deceive us by deliberately giving us false information or making a fraudulent claim under this policy, our rights set out in 3. above apply only to any individual or entity that gave the false information or made the fraudulent claim.

Significant or unusual limitations and exclusions

We do not pay for any claims, losses, breaches, privacy investigations or threats due to:

• the provision of or failure to provide any professional advice or services;
• the failure of an internet service provider;
• breach of intellectual property rights, other than under the Media liability section;
• bodily injury or damage to tangible property;
• seizure or confiscation, war or nuclear risks;
• anything likely to lead to a claim, loss, breach, privacy investigation, illegal threat or interruption that you knew or ought reasonably to have known about before the policy started;
• any acts or omissions you deliberately or recklessly commit, condone or ignore;
• media liability claims that are brought by your current or former employees;
• any criminal, civil or regulatory fines, other than PCI charges and regulatory awards where legally insurable.

We will also not make payment:

• unless you notify us promptly of any claim, loss, breach, privacy investigation, illegal threat or interruption or anything which is likely to give rise to these;
• for cyber extortion unless you inform or allow us to inform the appropriate law enforcement authorities following an illegal threat and keep us informed of all developments.

We may reduce any payment we make equal to the detriment we have suffered if you:

• do not ensure our rights of recovery against a third party are unrestricted;
• admit that you are liable or make any offer without our prior written agreement.

You must:

• make every reasonable effort to minimise any loss, damage or liability and take appropriate emergency measures immediately if they are required to reduce any claim;
• ensure that our rights of recovery against a third-party are not unduly restricted or financially limited by any term in any of your contracts; and
• give us all assistance which we may reasonably require to pursue recovery of amounts we may become legally liable to pay under this policy, in your name but at our expense.

If you fail to do so, you shall be liable to us for an amount equal to the detriment we have suffered as a result of your failure to comply with this obligation, which we may deduct from any payment we make under this policy.