2018-08-22 CC Set Agenda Packet - Laserfiche WebLink

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