4 Knowledge of insured

4  Knowledge of insured

(1)     This section provides for what an insured knows or ought to know for the purposes of section 3(4)(a).

(2)     An insured who is an individual knows only—

(a)     what is known to the individual, and

(b)     what is known to one or more of the individuals who are responsible for the insured's insurance.

(3)     An insured who is not an individual knows only what is known to one or more of the individuals who are—

(a)     part of the insured's senior management, or

(b)     responsible for

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