BIBLIOLABS, LLC - Laserfiche WebLink

Home Browse Search

CNA CNA PARAMOUNT First Party Terms and Conditions forensic accountants or other third parties providing claims related services, submit to examinations under oath, and give the Insurer a signed statement of each individual's answers. G. As may be reasonably required, produce for examination at the request of the Insurer all books of account, business records, bills, invoices and other vouchers, or certified copies thereof if originals have been lost, at such reasonable time and place as may be designated by the Insurer or its authorized representative, and permit extracts and copies thereof to be made. H. Cooperate with the Insurer in the investigation of any claim. I. Notify law enforcement authorities, if the Named Insured has reason to believe that any loss or damage involves a violation of law. VII. LOSS PAYMENT A. Unless otherwise specified in this Policy, in the event of covered loss or damage to covered property, at the Insurer's option, the Insurer will either: 1. pay the amount of loss or damage; 2. pay the cost of repairing or replacing such covered property; 3. take all or any part of the covered property at an agreed or appraised value; or 4. repair or replace the covered property with other property of like kind and quality. B. If the Insurer elects to exercise option A.3. above with respect to any branded or labeled merchandise or finished stock, the Named Insured may: 1. Stamp salvage on their merchandise or finished stock, or its containers, if the stamp will not physically damage the merchandise or finished stock; or 2. Remove the brands or labels, if doing so will not physically damage the merchandise or finished stock. The Named Insured must re -label the merchandise or finished stock or its containers, to comply with the law. C. The Insurer will determine the value of such covered property, or the cost of its repair or replacement, in accordance with the VALUATION Condition. D. The Insurer will not pay more than the Named Insured's financial interest in the covered property. E. The Insurer, at the Insurer's expense, may elect to defend the Named Insured against suits arising from claims of owners of covered property. If the Named Insured has complied with all of the terms and conditions of this Policy, the Insurer will pay amounts due hereunder within 60 days after it receives an acceptable sworn proof of loss provided that the Insurer and Named Insured have reached agreement on the amount of loss or damage or an appraisal award has been made. Such payments will be made to the First Named Insured, subject to the LOSS PAYEES AND MORTGAGEES Condition below. However, the payment for loss or damage to personal property of others may be to the account of the owner of the property. Covered Debris Removal Costs and Expenses and Debris Removal — Additional Costs and Expenses in the Fees, Costs and Expenses Coverages provision under the LOCATION COVERAGES section of the Business Property Coverage Part will be paid by the Insurer provided all such costs are reported to the Insurer in writing within 180 days of the occurrence. CNA62647XX 10-15 Copyright CNA All Rights Reserved. a r N Risk MmRgmertt DiAsian 3 REVIEWED & APPROVED BY.- E� Risk Management Analyst