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containing such products; (3) The most we will pay is the lesser of either the amount of insurance available under the applicable Limits of Insurance shown in the Declarations or the limits of insurance required by the contract or agreement; and (4) The insurance afforded to such vendor only applies to the extent permitted bylaw. 4. Additional Insured - Limited Primary and Noncontributory Provision Section III— Common Policy Conditions (Applicable to Section I —Property and Section II —Liability), H. Other Insurance, is amended to include the following: 4. With respect to Section II—Liability: However, if you have added any person, organization or vendor of yours as an additional insured to this policy by way of this MultiCover endorsement and have agreed in a written "insured contract" that this insurance is primary and non-contributory with other insurance available to that additional insured, this insurance is primary and we will not seek contribution from such additional insured's other insurance, provided that the additional insured is a Named Insured under such other insurance. 5. Blanket Waiver of Subrogation Section III Common Policy Conditions (Applicable to Section I— Property and Section 11 —Liability, K. Transfer of Rights of Recovery Against Others to Us, 2., is deleted and replaced with the following: 2. Applicable to Businessowners Liability Coverage a. If the insured has rights to recover all or part of any payment we have made under this policy, those rights are transferred to us. The insured must do nothing after loss to impair those rights. At our request, the insured will bring "suit" or transfer those rights to us and help us enforce them. This condition does not apply to Medical Expenses Coverage. b. If required by a written "insured contract" executed prior to the "occurrence" or offense, we waive any right of recovery we may have against any person or organization named in such "insured contract" because of payments we make for injury or damage arising out of your operations or"your work" for that person or organization. 6. Broadened Named Insured A. Section 11 - Liability Coverage, C. Who Is An Insured, is amended to include thefollowing: 3. Any organization that you own at the inception of this policy, or newly acquire or form during the policy period, and over which you maintain during the policy period majority ownership or majority interest, will qualify as a Named Insured if: a. There is no other similar insurance available to that organization; and b. The first Named Insured shown in the Declarations has the responsibility of placing insurance for that organization; and c. That organization is incorporated or organized under the laws of the United States of America. However: SB9189 04-17 Copyright©2017 Allianz Global Risks US Insurance Company.All rights reserved. Page 4 of 8 APPROVED By Cynthia Mora at 10:22 am, Dec 04, 2024