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IPS GROUP, INC.
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Last modified
4/12/2019 8:23:34 AM
Creation date
4/11/2019 1:53:17 PM
Metadata
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Contracts
Company Name
IPS GROUP, INC.
Contract #
A-2014-119-01
Agency
Finance & Management Services
Council Approval Date
5/20/2014
Expiration Date
5/19/2020
Insurance Exp Date
3/19/2020
Destruction Year
2025
Notes
A-2014-119
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Attachment Code: D530456 Certificate ID: 12813936 <br />4. BROAD KNOWLEDGE OF OCCURRENCE/ NOTICE OF OCCURRENCE <br />Under CONDITIONS, the condition entitled Duties in The Event of Occurrence, Offense, Claim or Suit <br />Condition is amended to add the following provisions: <br />A. BROAD KNOWLEDGE OF OCCURRENCE <br />The Named Insured must give the Insurer or the Insurer's authorized representative notice of an <br />occurrence, offense or claim only when the occurrence, offense or claim is known to a natural person <br />Named Insured, to a partner, executive officer, manager or member of a Named Insured, or to an <br />employee designated by any of the above to give such notice. <br />B. NOTICE OF OCCURRENCE <br />The Named Insured's rights under this Coverage Part will not be prejudiced if the Named Insured fails <br />to give the Insurer notice of an occurrence, offense or claim and that failure is solely due to the Named <br />Insured's reasonable belief that the bodily injury or property damage is not covered under this <br />Coverage Part. However, the Named Insured shall give written notice of such occurrence, offense or <br />claim to the Insurer as soon as the Named Insured is aware that this insurance may apply to such <br />occurrence, offense or claim. <br />5. BROAD NAMED INSURED <br />WHO IS AN INSURED is amended to delete its Paragraph 3. in its entirety and replace it with the <br />following: <br />3. Pursuant to the limitations described in Paragraph 4. below, any organization in which a Named <br />Insured <br />has management control: <br />a. on the effective date of this Coverage Part; or <br />b. by reason of a Named Insured creating or acquiring the organization during the policy period, <br />qualifies as a Named Insured, provided that there is no other similar liability insurance, whether primary, <br />contributory, excess, contingent or otherwise, which provides coverage to such organization, or which <br />would have provided coverage but for the exhaustion of its limit, and without regard to whether its <br />coverage is broader or narrower than that provided by this insurance. <br />But this BROAD NAMED INSURED provision does not apply to: <br />(a) any partnership or joint venture; or <br />(b) any organization for which coverage is excluded by another endorsement attached to this <br />Coverage <br />Part <br />For the purpose of this provision, and of this endorsement's JOINT VENTURES / PARTNERSHIP I <br />LIMITED LIABILITY COMPANIES provision, management control means: <br />A. owning interests representing more than 50% of the voting, appointment or designation power for the <br />selection of a majority of the Board of Directors of a corporation, or the members of the management <br />board of a limited liability company; or <br />B. having the right, pursuant to a written trust agreement, to protect, control the use of, encumber or <br />
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