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nonimputation provision

A clause found in most directors and officers (D&O) and professional liability policies stating that intentional misstatements or omissions in the application for coverage (e.g., failure to mention circumstances likely to produce a claim in the future) will not be imputed to, and therefore will not bar coverage for individuals who did not sign the application. In the absence of nonimputation provisions, such persons would otherwise be denied protection under the policy given these misstatements or omissions. In some instances, the nonimputation provision appears in the application for coverage, rather than in the actual policy form. Nonimputation provisions are also known as severability provisions.


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