PEGASUS STUDIOS - Laserfiche WebLink

Home Browse Search

UMBRELLA management event" after the date you acquired or D. CHANGES formed such organization. This policy contains all the agreements between SECTION V - CONDITIONS you and us concerning the insurance afforded. No change can be made in the terms of this A. APPEALS insurance except with our consent. The terms of 1. If the insured or the insured's "underlying this insurance can be amended or waived only by insurer" elects not to appeal a judgment which endorsement issued by us and made a part of this exceeds the "applicable underlying limit" or policy. "self-insured retention", we may do so. E. CURRENCY 2. If we appeal such a judgment, we will pay all Payments for damages or expenses described in costs of the appeal. These payments will not Paragraph 5. of Paragraph D., DEFENSE AND reduce the applicable limits of insurance. In no SUPPLEMENTARY PAYMENTS, of SECTION I event will our liability exceed the applicable limit - COVERAGES will be in the currency of the of insurance. United States of America. At our sole option, we B. BANKRUPTCY may make these payments in a different currency. Any necessary currency conversion for such 1.Bankruptcy or insolvency of the insured or of payments will be calculated based on the rate of the insured's estate will not relieve us of our exchange published in the Wall Street Journal obligations under this insurance. immediately preceeding the date the payment is 2. In the event of bankruptcy or insolvency of any processed. "underlying insurer", this insurance will not F. DUTIES REGARDING AN EVENT, replace such bankrupt or insolvent "underlying OCCURRENCE, CLAIM OR SUIT insurer's" policy, and this insurance will apply as if such "underlying insurer" had not become 1. You must see to it that we are notified as bankrupt or insolvent.soon as practicable of an "event" or "occurrence" which may result in a claim C. CANCELLATION under this insurance. To the extent possible, 1. The first Named Insured shown in the notice should include: Declarations may cancel this insurance by a.How, when and where the "event" or mailing or delivering to us advance written "occurrence" took place; notice of cancellation. b. The names and addresses of any 2. We may cancel this insurance by mailing or persons or organizations sustaining injury, delivering to such first Named Insured written damage or loss, and the names and notice of cancellation at least: addresses of any witnesses; and a.1 O days before the effective date of c. The nature and location of any injury or cancellation if we cancel for nonpayment of damage arising out of the "event" or premium; or "occurrence". b.60 days before the effective date of 2.If a claim is made or "suit" is brought against cancellation if we cancel for any other any insured which may result in a claim under reason. this insurance, you must see to it that we 3.We will mail or deliver our notice to such first receive written notice of the claim or "suit" as Named lnsured's last mailing address known to soon as practicable. us. 3. With respect to Coverage A, the insured must: 4. Notice of cancellation will state the effective date of cancellation. The policy period will end a.Cooperate with us in the investigation, on that date. settlement or defense of any claim or "suit"; 5. If this insurance is cancelled, we will send such first Named Insured any premium refund due. If b. Comply with the terms of the "underlying we cancel, the refund will be pro rata. If such insurance"; and first Named Insured cancels, the refund may be c. Pursue all rights of contribution or less than pro rata. The cancellation will be indemnity against any person or effective even if we have not made or offered a organization who may be liable to the refund. insured because of the injury, damage or 6. If notice is mailed, proof of mailing will be loss for which insurance is provided under sufficient proof of notice. Page 12 of 22 © 2016 The Travelers Indemnity Company. All rights reserved. EU 00 01 0716