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CNA CNA PARAMOUNT <br />Employee Benefits Liability Coverage Part - Occurrence <br />I. COVERAGE <br />The Insurer will pay those sums up to the applicable limit of insurance that the Insured becomes legally obligated to <br />pay as damages as a result of a covered claim for an act, error or omission negligently committed in the <br />administration of the Named Insured's employee benefit program provided that such act, error or omission: <br />A. takes place in the coverage territory; <br />B. was committed during the policy period; and <br />C. prior to the effective date of the policy period: <br />1. no authorized insured knew or should have known of a claim or circumstance; <br />2. no Insured had given notice to a prior insurer of any related claim. <br />The Insurer will pay all defense costs in connection with a covered claim. Such defense costs are in addition to the <br />limits of insurance. <br />II. DUTY TO DEFEND <br />The Insurer has the right and duty to defend in the Insured's name and on the Insured's behalf any covered suit <br />even if any of the allegations of such suit are groundless, false or fraudulent. The Insurer shall have the right to <br />appoint counsel and to make such investigation and settlement of a claim as is deemed necessary by the Insurer. If <br />a claim is subject to an arbitration proceeding or mediation proceeding, the Insurer shall be entitled to exercise all of <br />the Insured's rights in the choice of arbitrators or mediators and in the conduct of an arbitration proceeding or <br />mediation proceeding involving such claim. <br />The Insurer is not obligated to investigate, defend, pay or settle, or continue to investigate, defend, pay or settle a <br />claim after the applicable limit of the Insurer's liability has been exhausted by payment of damages. <br />III. EXCLUSIONS <br />This insurance does not apply to: <br />A. Bodily Injury, Property Damage, or Personal and Advertising Injury <br />any bodily injury, property damage or personal and advertising injury . <br />0 <br />B. Dishonest, Fraudulent, Criminal or Malicious Act Damages <br />0 <br />any intentional, dishonest, fraudulent, criminal or malicious act, error or omission, committed by any insured, <br />0 <br />including the willful or reckless violation of any statute. <br />0 <br />0 <br />C. Employment -Related Practices <br />any wrongful termination of employment, discrimination, or other employment -related practices. <br />D. ERISA/Internal Revenue Code <br />any act, error or omission in the Insured's capacity as a fiduciary under: <br />1. the Employee Retirement Income Security Act of 1974, as now or hereafter amended, or by any similar <br />federal, state or local laws; or <br />2. the Internal Revenue Code of 1986 as now or hereafter amended. <br />E. Failure to Perform a Contract <br />any failure of performance of contract by any insurer. <br />F. Inadequacy of Performance of Investment/Advice Given with Respect to Participation <br />any: <br />1. failure of any investment to perform; <br />CNA74721XX 01-15 <br />Copyright CNA All Rights Reserved. <br />�ortaN <br />i� 'y <br />RiskMmRgemerttDivisfan <br />REVIEWED & APPROVED BY.- <br />c 4' <br />PZ. VSA44a <br />Risk Management Analyst <br />