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UH3 A664942 07 1001631 under the terms of that policy, then our extent of any limitation imposed under any duty to defend ends when we have used contract or agreement. up the applicable Limit of Insurance in the If coverage provided to an Additional payment of judgments, settlements, and Insured is required by contract or defense or claim expense as defined in agreement, the most we will pay on behalf the "underlying insurance". of the Additional Insured is the amount of 2. Coverage B — Umbrella Liability Defense insurance required by the contract, less and Settlement: any amounts payable by "underlying a. We have the right and duty to defend the insurance". insured against any "suit' because of Additional Insured coverage provided by "bodily injury", "property damage", this insurance will not be broader than "personal injury" or "advertising injury" to coverage provided by the "underlying which this insurance applies, even if such insurance". The inclusion of Additional "suit" is groundless, false or fraudulent. Insureds does not increase the Limit of We have no duty to defend any person or Insurance. organization against any claim or "suit": 2. Coverage B— Umbrella Liability Who Is An (1) To which this insurance does not Insured: apply; or a. If you are designated in the Declarations (2) If any other insurer has a duty to as: defend. (1) An individual, you and your spouse b. Where we have the duty to defend, we are insureds, but only with respect to may, at our discretion, investigate any the conduct of a business of which "occurrence" or offense and settle any you are the sole owner. claim or "suit". (2) A partnership or joint venture, you are c. Where we have no duty to defend, we an insured. Your members, your have the right to participate in the partners, and their spouses are also investigation and settlement of any claim, insureds, but only with respect to the and defense of any "suit", that we feel may conduct of your business. create liability on our part under the terms (3) A limited liability company, you are an and conditions of this policy. If we exercise insured. Your members are also this right, we will do so at our own insured's, but only with respect to the expense. conduct of your business. Your d. Our duty to defend ends when we have managers are insureds, but only with used up the applicable Limit of Insurance respect to their duties as your in the payment of judgments or managers. settlements. However, if the Limits of (4) An organization other than a Insurance of any "underlying insurance" partnership, joint venture or limited are reduced by defense or claim expense liability company, you are an insured. under the terms of that policy, then our Your "executive officers" and directors duty to defend ends when we have used are insureds, but only with respect to up the applicable Limit of Insurance in the their duties as your officers or payment of judgments, settlements, and directors. Your stockholders are also defense or claim expense as defined in insureds, but only with respect to their the "underlying insurance". liability as stockholders. III. WHO IS AN INSURED (5) A trust, you are an insured. Your 1. Coverage A— Follow Form Excess Liability trustees are also insureds, but only Who Is An Insured: with respect their duties as trustees. The following persons or organizations qualify b. Each of the following is also an insured: as an insured: (1) Your "volunteer workers" only while a. The named insured stated in Item 1 of the performing duties related to the Declarations; and conduct of your business, or your b. Any other person or organization "employees", other than your qualifying as an insured under the "executive officers" (if you are an "underlying insurance" but not beyond the organization other than a partnership, joint venture „ RISIE DRR810R 475-0001 01 18 Includes copyrighted material of Insurance services Office, Inc., with its permissior ;% E o BEviEwED&APPROVED BY. - Copyright 2017 The Hanover Insurance Group, Inc. All Rights Reserved. S� `�--'Risk Management Specialist