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Allianz eli <br />Watercraft Exclusion <br />178819 10 01 <br />Policy Amendment - Umbrella Policy - Excess Liability Policy <br />The policy does not apply to any liability arising out of the ownership, maintenance, operation, use, entrustment to <br />others, loading or unloading of any watercraft. <br />This exclusion applies even if the claims against any Insured allege negligence or other wrongdoing in the <br />supervision, hiring, employment, training, or monitoring of others by that Insured. <br />All other terms and conditions of the policy remain unchanged. <br />1788191001 <br />CopynghtG 2001 Allianz Global Risks US Insurance Company. All rights reserved. <br />�gkx�agiu.a�a-Lai <br />Risk Manage nardDrvvion <br />REVIEWED &APPROV®BY. <br />F�f.e h. V:�v�Lcf' <br />,�. <br />Risk Management Analyst <br />