IMPORTANT NOTICES

Duty of Disclosure

This Duty of Disclosure Applies to the Business Package, General Liability and Association Liability Insurance Policies.

This policy is subject to the Insurance Contracts Act 1984. Under that Act you have a duty of disclosure. Before you take out insurance with us, you have a duty to tell us of everything that you know, or could reasonably be expected to know, that is relevant to our decision to insure you and to the terms of that insurance. If you are not sure whether something is relevant you should inform us anyway. You have the same duty to inform us of those matters before you renew, extend, vary, or reinstate your contract of insurance.

Your duty however does not require disclosure of matters that:

• Reduce the risk
• Are common knowledge
• We know or, in the ordinary course of our business, ought to know, or
• We have indicated we do not want to know.

If you do not comply with your duty of disclosure, we may be entitled to:

• Reduce our liability for any claim
• Cancel the contract
• Refuse to pay the claim
• Avoid the contract from its beginning, if your non- disclosure was fraudulent.

Duty of Disclosure

This Duty of Disclosure Applies to the Motor Vehicle and Personal
Accident Insurance Policies.

What You Must Tell Us

When answering our questions you must be honest and you have a duty under law to tell us anything known to you, and which a reasonable person in the circumstances, would include in the answer to the question. We will use the answers in deciding whether to insure you and anyone else to be insured under the policy, and on what terms.

Who Needs to Tell Us?

It is important that you understand you are answering our questions in this way for yourself and anyone else whom you want to be covered by the policy.

If You Do Not Tell Us

If you do not answer our questions in this way, we may reduce or refuse to pay a claim, or cancel the policy. If you answer our questions fraudulently, we may refuse to pay a claim and treat this policy as never having been in force.

Privacy

The information collected on this proposal form will be used to assess your request for insurance and to provide other insurance services in accordance with our privacy policy. Berkley authorises Community Underwriting to collect this information on Berkley's behalf and to use it for Community Underwriting purposes.

In addition Berkley may share your information with other third parties, as defined in the privacy policy, in order to undertake insurance services. If you do not complete the application form in full, and in accordance with your duty of disclosure, Berkley may not be able to provide you with insurance or may impose additional conditions on any cover provided. In accordance with Berkley's privacy policy you may obtain access at any time to information that Berkley or its service providers hold on you.

If you would like to contact Community Underwriting about privacy you may do so through one of the following means:

• by phone 02 8045 2580
• by email to enquiries@communityunderwriting.com.au
• by letter to Privacy Officer, P.O. Box 173 Balmain NSW 2041

If you would like to contact Berkley about privacy, or would like to obtain a
copy of the privacy policy you may do so through one of the following means:

• obtain the privacy policy online at www.berkleyinaus.com.au/privacy-policy
• by phone 02 9275 8500
• by email to australiaclaims@berkleyinaus.com.au
• by letter to Privacy Officer, Level 23, 31 Market Street, Sydney NSW 2000

Don't Prevent Our Right of Recovery

The policies you are applying for contain a provision which states that if you surrender your right to seek recovery from another party for a loss covered by the policy, we have a right to reject any claim from you in relation to that loss.

Underinsurance

The Business Package policy is subject to an 80% "Underinsurance" clause. This means that if you have insured items under this Policy for less than 80% of their actual value at the time you took out this Policy, we will reduce the amount we pay you under this Policy in accordance with the following sum

Sum Insured x Amount of loss/damage ÷ 80% of value = Amount payable by Berkley (up to the Sum Insured).

The "Underinsurance" clause applies to the Fire, and the "Gross Income" and Departmental Clause under the Business Interruption Section and Electronic Equipment Sections.

GST

The amount of cover you choose excludes Goods and Services Tax (GST). If you are not registered for GST, in the event of a claim we will reimburse you the GST component in addition to the amount that we pay. The amount that we are liable to pay under this policy will be reduced by the amount of any input tax credit that you are or may be entitled to claim for the supply of goods or services covered by that payment.

If you are entitled to an input tax credit for the Premium you have paid, you must inform us of the extent of that entitlement at or before the time you make a claim under this Policy. We will not indemnify you for any GST liability, fines or penalties that arise from or are attributable to your failure to notify us of your entitlement (or correct entitlement) to an input tax credit on the premium. If you are liable to pay an Excess under this policy, the amount payable will be calculated after deduction of any input tax credit that you are or may be entitled to claim on payment of the Excess.

If you are unsure about the taxation implications of this policy, you should seek advice from your accountant or tax professional.

About the Underwriting Agency

Community Underwriting Agency – AFS Licence No 448274 ABN 60 166 234 715 acts under an underwriting authority given to it by the Insurer to administer and issue policies, alterations and renewals. In all aspects of this policy Community Underwriting acts as an agent of the Insurer and not for you.

Notices Applicable to the Association Liability Policy Only

Claims Made and Notified Policy
The application as far as it relates to Association Liability Insurance is for a 'claims made' policy. This means that the policy covers you for claims made against you during the period of insurance specified in your policy schedule and notified to us during that period of insurance.

This means that the policy does not provide cover in relation to:

• Events which occurred prior to the period of insurance or any earlier retroactive date stipulated in the policy schedule;
• Claims made against you after the expiry of the period of insurance even though the event giving rise to the claim may have occurred during the period of insurance;
• Claims arising from or attributable to any facts, circumstances or occurrences noted on the proposal for the current period of insurance or on any previous or of which notice had been given under any previous policy;
• Claims arising from or attributable to any facts, circumstances or occurrences of which you were aware and knew (or ought reasonably to have realised) prior to the commencement of the period of insurance may give rise to a claim.

Section 40(3) of the Insurance Contracts Act 1984 provides that an insurer is not relieved from liability under a contract of insurance in respect of a claim by reason only that the claim was made after the expiry of the period of insurance cover provided by the contract where the insured has given notice in writing to the insurer:

• Events which occurred prior to the period of insurance or any earlier retroactive date stipulated in the policy schedule;
• of the facts that might give rise to a claim against the insured;
• as soon as was reasonably practicable after the insured became aware of those facts; and
• before the expiry of the period of insurance.

Retroactive Liability
The Association Liability insurance may be limited by a retroactive date which will be shown on the schedule. If a retroactive date applies the policy does not cover any claim arising from any actual or alleged act, error, omission or conduct occurring prior to the retroactive date.

Average Provision
One of the provisions of the proposed Association Liability insurance provides that where the amount required to dispose of a claim exceeds the limit of indemnity in the policy then the insurer will only be liable only for a proportion of the total costs and expenses. This will be the same proportion of the total costs and expenses as the policy limit bears to the total amount required to dispose of the claim.