5-2 承保範圍及不保事項 - ACE Group

TERMS AND CONDITIONS1 Insuring Agreements1.1 CoverageThe Company will indemnify the Insured for Products Recall Expense caused by an Event happeningwithin the Policy Territory during the Policy Period.All terms, conditions, definitions and exclusions of the Policy apply to the insurance provided by this PolicyExtension unless otherwise expressly amended.1.2 Limit of LiabilityThe Company’s liability for Ultimate Net Loss under this Policy Extension will not exceed the sum stated inItem B (i) of the Schedule in respect of any one Event.The maximum liability of the Company for the Policy Period for all amounts paid or payable inrespect of all Events insured under this Policy Extension will not exceed the sum stated in ItemB (ii) of the Schedule.1.3 The Insured’s Retained LimitThe Company will be liable only for the Ultimate Net Loss in excess of the Insured’s RetainedLimit.The Insured’s Retained Limit in respect of Products Recall Expense is either of the followingamounts, whichever is greater:1.3.1 the amount stated in Item C of the Schedule, or1.3.2 ten percent (10%) of the Ultimate Net Loss, or1.3.3 fifteen percent (15%) of the Ultimate Net Loss in respect of Products sold or distributed in126