QBPC-3002 FL (09-16) Page 8 of 10
Signing of this application does not bind the Company to offer, nor the Applicant to accept insurance, but it is agreed that
this application shall be the basis of the insurance and it will be deemed attached to and made a part of the policy should a
policy be issued.
Any person who, knowingly and with the intent to defraud any insurance company or other person, files an application for
insurance containing any false information or conceals for the purpose of misleading, information concerning any fact
material thereto, commits a fraudulent insurance act, which may be considered a crime.
PLEASE READ THE FOLLOWING STATEMENT CAREFULLY AND SIGN BELOW WHERE INDICATED. IF THIS POLICY
IS ISSUED, THIS SIGNED STATEMENT WILL BE ATTACHED TO THE POLICY.
No fact, circumstance, situation or incident indicating the probability of a claim or action for which coverage may be afforded
by the proposed insurance is now known by any person(s) or organization(s) proposed for this insurance other than that
which is disclosed in this application. It is agreed by all concerned that if there be knowledge of any such fact,
circumstance, situation, incident or allegation of negligence or wrongdoing, any claim subsequently emanating therefrom
shall be excluded from coverage under the proposed insurance.
The policy applied for is SOLELY AS STATED IN THE POLICY, if issued, which provides coverage on a claims made basis
for ONLY THOSE “CLAIMS” THAT ARE FIRST MADE AGAINST THE INSURED DURING THE POLICY PERIOD, unless
an automatic extended reporting period is available or the extended reporting period option is exercised in accordance with
the terms of the policy. The policy has specific provisions detailing claim reporting requirements.
New York Notice: This application is for claims-made coverage. There shall be no coverage for “Claims” arising out of
“Wrongful Acts” or “Personal Injuries” which took place prior to the “Retroactive Date”. Upon termination of coverage for any
reason, a sixty-day Automatic Extended Reporting Period will apply. For an additional premium, an Optional Extended
Reporting Period of thirty-six months can be purchased. There is no coverage for “Claims” first made against the Insured
after the ”Policy Period” or Automatic Extended Reporting Period unless the Optional Extended Reporting Period is
purchased. Gaps in coverage may arise if the policy is not replaced with comparable claims-made coverage upon
expiration of either the policy or Optional Extended Reporting Period, if purchased.
During the first several years of claims-made coverage, claims-made rates are comparatively lower than occurrence rates,
and the insured can expect substantial annual premium increases, independent of overall rate level increases, until the
claims made risk reaches full maturity.
Fraud Warnings
Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false
information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
Notice to Alaska residents: “A person who knowingly and with intent to injure, defraud, or deceive an insurance
company, files a claim containing false, incomplete, misleading information may be prosecuted under state law.”
Notice to Arizona residents: “For your protection Arizona law requires the following statement to appear on this form.
Any person who knowingly presents a false or fraudulent claim for payment of a loss is subject to criminal and civil
penalties.”
Notice to California residents: “For your protection California law requires the following to appear on this form. Any
person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject
to fines and confinement in state prison.”
Notice to Colorado residents: “It is unlawful to knowingly provide false, incomplete, or misleading facts or information to
an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include
imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company
who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of
defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from
insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.”
Notice to Delaware residents: “Any person who knowingly, and with intent to injure, defraud, or deceive any insurer, files
a statement of claim containing any false, incomplete, or misleading information is guilty of a felony.”
Notice to Florida residents: “Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a
statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony of the