An exclusion clause in a professional indemnity insurance policy that specifies a category of valuations (e.g., for non-ADI lenders) operates to exclude cover where the valuation answers that description, without requiring a causal connection between the specific qualifying condition (e.g., absence of a prudent lender clause) and the loss; the causal criteria in the chapeau require only an indirect connection between the specified subject matter and the loss.
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6 of the 43 citing cases carry a classified treatment. How each court treated it is available to signed-in members.