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2018-08-22 CC Set Agenda Packet
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2018-08-22 CC Set Agenda Packet
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b, To sue us on this Coverage Part unless all of When this insurance is excess,we will have no <br /> its terms have been fully complied with. duty under Coverages A or B to defend the in- <br /> person or organization may sue us to recover on sured against any"suit" if any other insurer has <br /> an agreed settlement or on a final judgment a duty to defend the insured against that"suit". <br /> against an insured; but we will not be liable for If no other insurer defends,we will undertake to <br /> damages that are not payable under the terms of do so, but we will be entitled to the insu ' <br /> this Coverage Part or that are in excess of the ap- rights against all those other insurers. <br /> licable limit of insurance. An agreed settlement When this insurance is excess over other in- <br /> means a settlement and release of liability signed surance, we will pay only our share of the <br /> by us, the insured and the claimant or the claim- amount of the loss, if any, that exceeds the <br /> ant's legal representative. sum of: <br /> a. Other Insurance (1) The total amount that all such other insur- <br /> If other valid and collectible insurance is available ance would pay for the loss in the absence <br /> to the insured for a loss we cover under Coverag- cf this insurance; and <br /> es A or B of this Coverage Part, our obligations ( ) The total of all deductible and self-insured <br /> are limited as follows: amounts under all that other insurance. <br /> a. Primary Insurance We will share the remaining loss, if any, with <br /> This insurance is primary except when b. below any other insurance that is not described in this <br /> applies. If this insurance is primary, our obliga- Excess Insurance provision and was not <br /> tions are not affected unless any of the other bought specifically to apply in excess of the <br /> insurance is also primary. Then, we will share Limits of Insurance shown in the Declarations <br /> with all that other insurance by the method de- of this Coverage Part. <br /> scribed in c.below. c. Method Of Sharing <br /> ® Excess Insurance If all of the other insurance permits contribution <br /> This insurance is excess over: by equal shares, we will follow this methal- <br /> so. Under this approach each insurer contdb- <br /> (1) Any of the other insurance, whether prima- utes equal amounts until it has paid its appli - <br /> ry, excess, contingent or on any other basis: ble limit of insurance or none of the loss <br /> (a) That is Fire, Extended Coverage, Build- remains,whichever comes first. <br /> er's Risk, Installation Risk or similar If any of the other insurance does not permit <br /> coverage for"yourwork"; contribution by equal shares, we will contribute <br /> ( ) That is Fire insurance for premises by limits. Under this method, each insurer's <br /> rented to you or temporarily occupied by share is based on the ratio of its applicable limit <br /> you with permission of theowner; of insurance to the total applicable limits of in- <br /> (c) That is insurance purchased by you to surance of all insurers. <br /> ver your liability as a tenant for "prop- 5. Premium Audit <br /> erty damage" to premises rented to you a. We will compute all premiums for this Cover- <br /> or temporarily occupied by you with age Part in accordance with our rules and <br /> permission of the owner; or rates. <br /> ( ) If the loss arises out of the maintenance b. Premium shown in this Coverage Part as ad- <br /> or use of aircraft, "autos"or watercraft to vance premium is a deposit premium only. At <br /> the extent not subject to Exclusion g. of the close of each audit period we will compute <br /> Section I — Coverage A — Bodily Injury the earned premium for that period and send <br /> And Property Damage Liability. notice to the first Named Insured. The due date <br /> ( ) Any other primary insurance available to for audit and retrospective premiums is the <br /> you covering liability for damages arising date shown as the due date on the bill. If the <br /> out of the premises or operations, or the sum of the advance and audit premiums paid <br /> products and completed operations, for for the policy period is greater than the earned <br /> which you have been added as an addition- premium, we will return the excess to the first <br /> l insured by attachment of an endorse- Named Insured. <br /> ment. c. The first Named Insured must keep records of <br /> the information we need for premium computa- <br /> tion, and send us copies at such times as we <br /> may request. <br /> CG 00 01 12 04 ISO Properties, Inc.,2003 Page 11 of 15 13 <br />
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