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CNA CNA Paramount Excess and Umbrella Liability <br />Policy <br />2. members or partners of joint venture or partnership Named Insureds. <br />Examination of the Named Insured's Books and Records <br />The Insurer may examine and audit the Named Insured's books and records as they relate to this Policy at any <br />time during the policy period and up to 3 years afterward. <br />J. Financial Impairment <br />Bankruptcy, rehabilitation, receivership, liquidation or other financial impairment of the Named Insured <br />or an underlying insurer shall neither relieve nor increase any of the Insurer's obligations under this <br />Policy. <br />In the event there is diminished recovery or no recovery available to the Named Insured as a result of <br />financial impairment of an underlying insurer, the coverage under this Policy shall apply only in excess <br />of the underlying limits. Under no circumstances shall the Insurer be required to drop down and replace <br />the underlying limits, or assume the obligations of the Named Insured or the financially impaired insurer. <br />K. Headings <br />The description in the headings and subheadings of this Policy is solely for convenience, and forms no part of <br />the terms and conditions of coverage. <br />L. Inspections and Surveys <br />The Insurer has the right but is not obligated to: <br />1. make inspections and surveys at any time; <br />2. give the Named Insured reports on the conditions it finds; <br />3. recommend changes; or <br />4. conduct loss control and prevention activity. <br />Any inspections, surveys, reports, or recommendations relate only to insurability and the premiums to <br />be charged. <br />The Insurer does not: <br />1. make safety inspections; <br />2. undertake to perform the duty of any organization to provide for the health or safety of workers or <br />the public; nor <br />3. warrant that conditions are safe or healthful or comply with laws, regulations, codes or standards. <br />This provision applies not only to the Insurer, but also to any rating, advisory, rate service, or similar <br />organization which makes insurance inspections, surveys, recommendations, reports, or gives loss <br />control or prevention advice, on its behalf. <br />M. Legal Action Limitation <br />No person or organization has a right under this Policy: <br />1. to join the Insurer as a party or otherwise bring the Insurer into a suit asking for damages from an <br />Insured; or <br />2. to sue Insurer on this Policy unless all of its terms have been fully complied with. <br />A person or organization may sue the Insurer to recover on an agreed settlement or on a final judgment <br />against an Insured; but the Insurer will not be liable for damages that are not payable under the terms of <br />this Policy or that are in excess of the applicable limit of insurance. An "agreed settlement" means a <br />settlement and release of liability signed by the Insurer, the Insured and the claimant or the claimant's <br />legal representative. <br />Form No: CNA75504XX (03-2015) Pc <br />Policy Page: 19 of 32 P( <br />Underwriting Company: The Continental Insurance Company, 151 N Franklin St, Chicago, IL 60606 Pc <br />Copyright CNA All Rights Reserved. <br />�oRaN <br />Risk Mwag mendDiAsian <br />REVIEWED & APPROVED BY.- <br />CMUM <br />Risk Management Analyst <br />