Laserfiche WebLink
The Parent Organization will provide written notice of the events listed in item (1) or (2) above <br />as soon as practicable. The Insurer, at its sole discretion, may offer alternative coverage <br />options upon receipt of any additional underwriting information required and the Insured's <br />payment of any additional premium required by the Insurer. <br />X. SUBROGATION <br />If the Insurer makes any payments under this Policy, the Insurer is subrogated to the extent of <br />such payment to all of the Insureds' rights of recovery against any person or entity. The <br />Insureds shall execute all papers required and will do everything that may be necessary to <br />secure and preserve such rights, including the execution of such documents as are necessary <br />to enable the Insurer effectively to sue in their name. The Insureds must also provide all other <br />assistance and cooperation that the Insurer may reasonably require. Any recoveries will be <br />applied as follows: (1) first, to the Insurer up to the amount the Insurer has paid for Loss and <br />Defense Costs; (2) then to the Insured as recovery of Retention amounts paid as Loss and <br />Defense Costs. <br />XI. ACTION AGAINST INSURER <br />The Insureds may not sue the Insurer unless, as a condition precedent, the Insureds have <br />fully complied with all of the terms of this Policy. The amount of the Insureds' obligation to pay <br />must also have been fully and finally determined either by judgment against them after actual <br />trial or by written agreement between them, the claimant and the Insurer. Any person or <br />organization or their legal representative who has secured such judgment or written agreement <br />will be entitled to recover under this Policy to the extent of the insurance afforded by this Policy. <br />Nothing contained in this Policy will give any person or organization any right to join the Insurer <br />as a party to any Claim against the Insureds to determine their liability. The Insurer will not be <br />impleaded by the Insureds or their legal representative in any Claim. <br />XII. OTHER INSURANCE <br />If any Claim is insured under any other valid and collectible policy(ies), prior or current, then this <br />Policy will cover such Claim, subject to its limitations, conditions, provisions and other terms, <br />only to the extent that the amount of Loss or Defense Costs is in excess of the amount of such <br />other insurance whether such other insurance is stated to be primary, contributory, excess, <br />contingent or otherwise, unless such other insurance is written only as specific excess <br />insurance over the Limit of Liability provided by this Policy. <br />XIII. CHANGES <br />Notice to any agent or knowledge possessed by any agent or other person acting on behalf of <br />the Insurer will not waive or change any part of this Policy or estop the Insurer from asserting <br />any right under this Policy. The terms of this Policy will not be waived or changed except by <br />written endorsement or rider issued by the Insurer to form a part of this Policy. <br />XIV. ASSIGNMENT OF INTEREST <br />Assignment of interest under this Policy will not bind the Insurer without its consent. <br />XV. TERRITORY <br />Coverage under this Policy extends to a Wrongful Act committed anywhere in the world, <br />provided that the Claim is first brought in the United States of America (including its territories <br />and possessions), Puerto Rico or Canada. <br />PSNP1001 (01/01) <br />Risk Divisian <br />E <br />o N,`P' REVIEWED & APPROVED BY. <br />e Aeevaa <br />'�--'Risk Management Specialist <br />