Forfeiture of Rights to Indemnification Clause

FORFEITURE OF RIGHTS TO INDEMNIFICATION CLAUSE #

1. The rights of the Insured to indemnification for loss or damage will be automatically forfeited if :
   1. The Insured fail to comply with obligation as stated within this policy;
   2. The Insured fails to submit claim within 12 (twelve) months from date of occurrence of the loss or damage;
   3. It is no protest of request for settlement by arbitration or other legal effort is made by the Insured within a period of 6 (six) calendar months from the date of receipt of a written repudiation of liability from the Insurer;
2. The right of the Insured for Indemnification greater then agreed by the Insurer will be lost if the Insured takes no actionor makes no response through arbitration or other legal action within a period of 3 (three) months from the receipt of such written offer from the Insurer.