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38 CFC Underwriting Limited is Authorized and Regulated by the Financial Conduct Authority ©1999-2024 CFC Underwriting Ltd, All Rights Reserved Technology v4.1 No cover will be automatically provided under this Policy for any acquired entity: a. whose business activities are materially different from your business activities; b. that has been the subject of any lawsuit, disciplinary action or regulatory investigation in the 3 year period prior to its acquisition; or c. that has experienced a cyber event in the 3 years period prior to its acquisition, if you have purchased INSURING CLAUSES 2, 3, 4 or 5 and the cyber event cost more than the highest deductible of INSURING CLAUSES 2, 3, 4 or 5 If during the period of the policy you consolidate, merge with or are acquired by another entity then all coverage under this Policy will terminate at the date of the consolidation, merger or acquisition unless we have issued an endorsement extending coverage, and you have agreed to any additional premium and terms of coverage required by us. 15.New subsidiaries If you create an entity during the period of the policy cover is automatically extended under this Policy to include the entity as a subsidiary for 45 days. We will consider providing cover for the created entity after the period of 45 days if: a.you give us full details of the entity within 45 days of its creation; and b.you accept any amendment to the terms and conditions of this Policy and agree to pay any additional premium required by us. In the event you do not comply with a. and b. above, cover will automatically terminate for the entity 45 days after the date of its creation. Cover for any created entity is only provided under this Policy for any act, error or omission committed or alleged to have been committed on or after the date of its creation. No cover will be automatically provided under this Policy for any created entity whose business activities are materially different from your business activities. 16.Our rights of recovery If we make any payment under this Policy and you have any right of recovery against a third party in respect of this payment, then we will maintain this right of recovery. You will do whatever is reasonably necessary to secure this right and will not do anything after the event which gave rise to the claim to prejudice this right. We will not exercise any rights of recovery against any employee, unless this is in respect of any fraudulent or dishonest acts or omissions as proven by final adjudication, arbitral tribunal or written admission by the employee. Any recoveries will be applied as follows: Docusign Envelope ID: 5C1EFBCC-3ADC-4DE3-BB48-9FE897D14C8D