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Additionally, the Company may exercise the right to require that such counsel have certain minimum
<br />qualifications with respect to their competency, including experience in defending CLAIMS similar to the one
<br />pending against the INSURED and to require such counsel to have errors and omissions insurance coverage.
<br />As respects any such counsel, the INSURED agrees that counsel will timely respond to the Company's requests
<br />for information regarding the CLAIM. Furthermore, the INSURED may at any time, by its signed consent,
<br />freely and fully waive its right to select independent counsel.
<br />11. Inspection and Audit: Any of the Company's authorized representatives shall have the right and opportunity,
<br />but not the obligation, when the Company so desires, to interview persons employed by the INSURED and to
<br />inspect at any reasonable time, during the POLICY PERIOD or thereafter, the INSURED'S premises,
<br />equipment, operations, COVERED LOCATIONS and all improvements, structures, products, ways, works,
<br />machinery and appliances thereon; but neither the Company nor its representatives shall assume any
<br />responsibility or duty to the INSURED or to any other party, person or entity, by reason of such right or
<br />inspection. Neither the Company's right to make inspections, nor the actual undertaking thereof not any report
<br />thereon shall constitute an undertaking on behalf of the INSURED or others, to determine or warrant that
<br />property or operations are safe, healthful or conform to acceptable engineering practices or are in compliance
<br />with any law, rule or regulation. The NAMED INSURED agrees to provide access to appropriate personnel to
<br />assist the Company's representatives during any inspection. The Company shall also have the right to examine
<br />or audit any financial records of the NAMED INSURED to inspect for accuracy in reporting income or
<br />revenue as represented and warranted in the Application. Premium audits may be processed as a result of such
<br />inspection, after any policy expires or is terminated. Premium adjustment calculations shall determine additional
<br />premiums due, if any, and shall not result in any mid-term downward adjustment of premium.
<br />12. Material Change in Risk: The INSURED must endeavor to notify the Company, in writing, of any change in
<br />operations which materially increases the risk from that originally assumed by the Company at Policy inception.
<br />Any failure by the INSURED to notify the Company may void all additional risk presented to the Company, if
<br />that failure to notify the Company presents additional exposure that the company has not had the opportunity
<br />to assess or receive due consideration for. The Company reserves the right to rescind all coverage offered under
<br />this policy, accordingly.
<br />13. Mediation and Deductible Credit: If the INSURED and the Company agree to use Mediation to resolve a
<br />covered CLAIM, and is completely resolved by such Mediation, the INSURED's Deductible obligation will be
<br />reduced by 75%, subject to a maximum monetary reduction of $35,000. For the purpose of this paragraph,
<br />Mediation means a non -binding process where a neutral panel of individuals assist the parties to reach their own
<br />settlement. When this occurs, we will reimburse the NAMED INSURED as soon as practical for any qualifying
<br />deductible amount which was already paid by the NAMED INSURED prior to the Mediation.
<br />14. Minimum Earned Premium: If this Policy is cancelled at the request of any NAMED INSURED, the total
<br />retained by the Company shall not be less than25.00% .
<br />15. Nonrenewal: The Company may non -renew this Policy by mailing or delivering to the NAMED INSURED at
<br />the address stated on the Declarations Page, or any endorsement amending the Declarations Page, written
<br />notice of nonrenewal at least sixty (60) days before the expiration date of this Policy. The offer of Policy terms,
<br />conditions or premium different than those in effect prior to renewal, shall not constitute non -renewal.
<br />16. Other Insurance:
<br />Commercial General Liabil , Coverage Only:
<br />a. Primar} Insurance: This insurance is primary except when b. below applies.
<br />b. Excess Insurance:
<br />(1) This insurance is excess over any other insurance, whether primary, excess, contingent or on any
<br />other basis:
<br />(a) That is Fire, Extended Coverage, Builder's Risk, Installation Risk
<br />"your work";
<br />(b) That is Fire insurance for premises rented to you or temporarily
<br />permission of the owner;
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<br />VP E 201(2/19) Page 7 of 9 © 2019 Virtue Risk Partners, LLC
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