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insured's rights against all those other <br />Insurers. <br />c. When this Insurance is excess over other <br />insurance, we will pay only our share of <br />the amount of the loss, if any, that <br />exceeds the sum of: <br />(1) The total amount that all such other <br />insurance would pay for the loss in <br />the absence of this Insurance; and <br />(2) The total of all deductible and <br />self -insured amounts under all that <br />other insurance. <br />d. We will share the remaining loss, if any, <br />with any other insurance that Is not <br />described in this provision and was not <br />bought specifically to apply In excess of <br />the Limits of Insurance shown in the <br />Declarations for this Coverage. <br />e. Method of Sharing <br />If all of the other Insurance permits <br />contribution by equal shares, we will <br />follow this method also. Under this <br />approach each insurer contributes equal <br />amounts until It has paid Its applicable <br />Limit of Insurance or none of the loss <br />remains, whichever comes first. <br />If any of the other Insurance does not <br />permit contribution by equal shares, we <br />will contribute by limits. Under this <br />method, each insurer's share Is based on <br />the ratio of its applicable Limit of <br />Insurance to the total applicable limits of <br />insurance' of all insurers. <br />r. When this insurance Is excess, we will <br />have no duty under Business Liability <br />Coverage to defend any claim or "suit' <br />that any other insurer has a duty to <br />defend. If no other insurer defends, we <br />will undertake to do so; but we will be <br />entitled to the Insured's rights against all <br />those other insurers. <br />I. Premiums <br />1. The first Named Insured shown in the <br />Declarations: <br />a. Is responsible for the payment of all <br />premiums; and <br />b. Will be the payee for any return <br />premiums we pay. <br />2. The premium shown in the Declarations was <br />computed based on rates in effect at the time <br />the policy was issued. On each renewal, <br />continuation or anniversary of the effective <br />date of this policy, we will compute the <br />premium in accordance with our rates and <br />rules then in effect. <br />3. With our consent, you may continue this <br />policy in force by paying a continuation <br />premium for each successive one-year <br />period. The premium must be: <br />a. Paid to us prior to the anniversary <br />date; and <br />b. Determined in accordance with <br />paragraph 2. above, <br />Our forms then in effect will apply. If you <br />do not pay the continuation premium, this <br />Policy will expire on the first anniversary <br />date that we have not received the <br />premium. <br />4. Undeclared exposures or change In your <br />business operation, acquisition or use of <br />locations may occur during the policy <br />period that is not shown In the <br />Declarations, If so, we may require an <br />additional premium. That premium will be <br />determined in accordance with our rates <br />and rules then In effect. <br />J. Premium Audit <br />I. This policy is subject to audit if a premium <br />designated as an advance premium is <br />shown in the Declarations. We will <br />compute the final premium due when we <br />determine your actual exposures. <br />2. Premium shown in this policy as advance <br />premium is a deposit premium only. At the <br />close of each audit period, we will <br />compute the earned premium for that <br />Period and send notice to the first Named <br />nsured. The due date for audit premiums <br />Is the date shown as the due date on the <br />bill. If the sum of the advance and audit <br />premiums paid for the policy period is <br />greater than the earned premium, we will <br />return the excess to the first Named <br />Insured. <br />3. The first Named Insured must keep <br />records of the information we need for <br />premium computation and send us copies <br />at such times as we may request. <br />K. Transfer of Rights of Recovery Against Others <br />to Us <br />1. Applicable to SECTION I • PROPERTY <br />Coverage: <br />If any person or organization to or for <br />whom we make payment under this policy <br />has rights to recover damages from <br />another, those rights are transferred to us <br />to the extent of our payment. That person <br />or organization must do everything <br />necessary to secure our rights and must <br />do nothing after loss to Impair them. But <br />you may waive your rights against another <br />party In writing: <br />391-1003 08 16 Includes copyrighted material or Insurance Services Office, Inc., with its permission. Page 80 of 81 <br />