MIG (MOORE IACOFANO GOLTSMAN, INC.) (3)

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Policy#AEC909023107 BERKLEY INSURANCE COMPANY 2- The each Claim limit shown in Item 3A of the Declarations is the most we will Pay for the sum of all Damages and Claire Expenses arising out of any single Claim. Two or more Claims considered a single Claim shall collectively be subject to the each Clairrn Ilmlt of liability shown In Item 3A of the Declarations. 3. The each Claim limit is the most we will pay for the sum of all Damages and Claim Expenses arising out of any single Claim regardless of how many Insuring Agreements may apply to such Claim- 4- The Policy Year Aggregate Iimit showan In Item 3B of the Declarations is the most we will pay for the sum of all Damages and Claim Expanses for aJl Claims made and reported during each Policy Year. 5_ The payment of Damages and Claim Expenses will reduce the each Claim limit. F. ]Deductible You must pay the Deductibte for Clairn Expenses and Damages cowered by this Policy before we are obligated to make any payment under the each Claim limit. The Der!uetlble roust be paid from your own account.and payments by other parties or insurers on your behalf shall not satisfy the deductible. We have the right to determine the reasonableness of Claim Expenses that qualify to satisfy the Deductible. The Deductible for each Claim is set forth in Item 4A of the Declarations, The Policy Year Aggregate Deductible showrn in Item 4B of the Declarations is the most the Named Insured must pay as a Deductible for the sum of all Claims made and reported during each Policy Year, G. Deductible Credits 1, Mediation Credit, Your Deductible obl igation may be reduced by 50%,su bject to a maxi mum reduction of S 15,000 if you agree vAth our decision to use Mediation and the Claire is fully and finally resolved by such Mediation. 2, Risk Management Credit, Your Deductible obligation may be reduced by 50%, subject to a maximum reduction of $25,000 if prior to the report date of a Claim, there is a signed, written and enforceable agreement for the Professional Services involved in the Claim,and it Includes a clause Ilmiting your liability to $ 50,000 or less. 3_ First Claim DeduciVe Credit., If the first Cfalm you ever report to us is Marie against you: a. Greater than 24 months after the Knowledge Date shown on the Policy Declarations, then your Deductible obligation for that Claim may be reduced by 25%r subject to a maximum reduction of$40.000; or b. Greater than 'aft months after the Knowledge Date shown on the Policy Declarations, then your Deductible obligation for that Claim may be reduced by 50%, subject to a maximum reduction of$40,000_ If mare than one deducbble Credit applies, your Deductible obligation will be reduced by 50%, SuljKt to a maximum reduction of$50,1)00. H. Notice of Cancellation and Nonrenewal This Policy may be canceled by the Named Insured identified in tha declarations, by surrender of the Policy to us or our authorized representative or by giving us written notice stating when,thereafter,such cancellation shall be effective. We will not canoe]this Policy except for nonpayment of premium, fraud or material misrepresentation in procuring this insurance or in relation to any Claim, or changes in law affecting this Policy. If we cancel this Policy, we will mail or deliver to the first Named Insured, on behalf of all Insureds:written notice of cancellation_ We will provide you at teas! ten (10)days-notice before the effective date of cancellation if we cancel for nonpayment of premium. If we caneel lot any other reason, we will provide at least sixty(60)days-notice before the effective date of cancellation- If this Policy is canceled, we will send the first blamed Insured any premium refund due. The refund will be pro rata. The cancellation will be effective even if we have not made or offered a refund. We will give you written notice sixty (60) days prior to the expiration of this Policy if we do not intend to renew this insurance subject to any state requirements. The notice will include our reason for nonrenewal_ Proof of rnai ling will be sufficient proof of notice_ I. Otter Insurance if there is other collectible insurance, Including but not limited to other pmfossional kabllity insurance or project specific insurance, that applies to a Claim covered by this Poly+. the other insurance shall be primary and this Policy shall be excess over the other insurance, unless the other insurance is written specifically excess of this Policy. This Policy will then apply to the amount of the Claim that exceeds the available limits of liability and any deductibles or retention amounts of the other insurance, as well as the]Deductible underthis Policy. If such other insurance has a duty to defend a Claim or assumes the defense of a Claim,this Poly shall not be obligated to defend that Claim, J_ Subrogation In the event of any payment under this Policy,we shall be subrogated to all of your rights of recovery against any person or organization_ You must do everything reasonably necessary to secure such rights and must do nothing after a Claim is made to jeopardize them_ We hereby waive our subrogation rights, against a client of yours to the extent that you had, prior to a Claim or Circumstance, entered into a written agreement to waive such rights_ Any recovery shall first be paid to us up to the extent of any Damages or Claim Expense$ paid by us and the balance shall be paid to you. K. First Named Insured as Sole went The first Named Insured in Item 1 of the Declarations will be the sole agent and will act on behalf of all Insureds for the payment or return of premium, receipt and acceptance of any endorsements, notices or provisions of this Policy, giving or receiving notice of cancellation or nonrenewaal, the payment of any Deductibles, and to exercise the rights provided in Section 0 Extended Reporting Period Option. L. Alteration and Assi€gnnlent BDPO417001 Page 8 of 9