CLIFTONLARSONALLEN LLP (3) - Laserfiche WebLink

Home Browse Search

a. Coverage under this provision is afforded only until the 1801h day after you acquire or form the organization or the end of the policy period,whichever is earlier. However, such coverage will be provided for no longer than that provided by underlying insurance; and b. Coverage does not apply to any liability that occurred or offense committed before you acquired or formed the organization. Except as provided in Paragraph 5. above, no person or organization is an insured with respect to the conduct of any current or past partnership, joint venture, or limited liability company that is not shown as a Named Insured in the Declarations. SECTION III — LIMITS OF INSURANCE 1. The Limits of Insurance shown in the Declarations and the rules below fix the most we will pay regardless of the number of: a. Insureds; b. Claims made or suits brought; c. Persons or organizations making claims or bringing suits; or d. Coverages provided under this policy. 2. The General Aggregate Limit is the most we will pay for the sum of all damages covered under this policy, except: a. Damage included in the products-completed operations hazard; and b. Damage covered by underlying insurance to which no aggregate limit applies. The General Aggregate Limit applies separately and in the same manner as the aggregate limits in the underlying insurance. 3. The Products-Completed Operations Aggregate Limit is the most we will pay for the sum of all damages because of bodily injury and property damage included in the products-completed operations hazard. 4. Subject to Paragraphs 2. and 3. above, if either applies, the Each Occurrence Limit is the most we will pay for the sum of all damages covered under this policy arising out of any one occurrence. 5. If the applicable limits of insurance of underlying insurance or other insurance providing coverage to the insured are reduced or exhausted by payments of damages, subject to the terms and conditions of this policy, we will: a. In the event of reduction, pay in excess of the reduced applicable limits of underlying insurance or other insurance; or b. In the event of exhaustion, continue in force as underlying insurance, but for no broader coverage than is available under this policy. The retained limit will not be reduced or exhausted by defense costs, loss adjustment expenses, supplementary payments or similar amounts that reduce or exhaust the policy limits of underlying insurance or other insurance. 6. If any underlying insurance has a limit of insurance greater than the amount shown in the Schedule of Underlying Insurance this policy will apply in excess of the greater amount. LCU 00 01 01 18 ©2017 Liberty Mutual Insurance Page 4 of 24 Includes copyrighted material of Insurance Services Office, Inc., with its permission.