VERITONE - Laserfiche WebLink

Home Browse Search

b. For a covered "auto" that is a "leased auto" Who Is An Insured is changed to include as an "Insured" the lessor. c. The coverages provided under this endorsement apply to any "leased auto" described in the Schedule until the expiration date shown in the Schedule, or when the lessor or his or her agent takes possession of the "leased auto," whichever occurs first. 2. Section IV - Business Auto Conditions, Paragraph A.4. Loss Payment - Physical Damage Coverages is amended by adding the following: a. We will pay, as interest may appear, you and the lessor for "loss" to a "leased auto." b. The insurance covers the interest of the lessor unless the "loss" results from fraudulent acts or omissions on your part. c. If we make any payment to the lessor, we will obtain his or her rights against any other party. 3. Section V - Definitions is amended by adding the following definition: "Leased auto" means any "auto" leased or rented to you including any substitute, replacement or extra "auto" needed to meet seasonal or other needs, under a leasing or rental agreement that requires you to provide direct primary insurance for the lessor. D. OWNED SUBSIDIARIES AND NEWLY ACQUIRED OR FORMED ORGANIZATIONS Section II - Covered Autos Liability Coverage, Paragraph A.1. Who Is An Insured is amended by adding the following: The following are "insureds": 1. Any subsidiary which is a legally incorporated entity of which you maintain ownership or majority interest on the effective date of this Coverage Form, except: a. Any subsidiary that is an insured under any other automobile liability policy. b. Any subsidiary which would be an insured under any other automobile liability policy but for the termination of such policy or exhaustion of such policy's Limits of Insurance. 2. Any organization you newly acquire or form, and in which you maintain ownership or majority interest, but only for the period beginning when you first maintained majority interest until the end of the policy period of this Coverage Form, or the next anniversary of the inception date of this Coverage From, whichever is earlier. However, the newly acquired or formed organization is not an "Insured": a. For "bodily injury" or "property damage" resulting from an "accident" that occurred before you acquired or formed the organization. b. If it is an insured under any other automobile liability policy or would be an insured under any other automobile liability policy but for the termination of such policy or exhaustion of such policy's Limits of Insurance. E. SUPPLEMENTARY PAYMENTS 1. Section II - Covered Autos Liability Coverage, Paragraph A.2.a.(2) is deleted and replaced with the following: (2) Up to $5,000 for cost of bail bonds (including bonds for related traffic law violations) required because of an "accident" we cover. We do not have to furnish these bonds. 2. Section II - Covered Autos Liability Coverage, Paragraph A.2.a.(4) is deleted and replaced with the following: (4) All reasonable expenses incurred by the "Insured" at our request, including actual loss of earnings up to $1,000 a day because of time off from work. F. FELLOW EMPLOYEE Section II - Covered Autos Liability Coverage, Paragraph B.5.b. is amended with the addition of the following: This exclusion does not apply to "bodily injury" resulting from the use of a covered "auto" you own or hire. This Coverage is excess over any other collectible insurance. G. PHYSICAL DAMAGE COVERAGE EXTENSIONS- TOWING Section III - Physical Damage Coverage, Paragraph A.2. Towing is deleted in its entirety and replaced with the following: 2. Towing RAMuwganentDivision We will pay up to $200 for towing and labor costs incurred each time a covered "2 t' _ REVIEWED&RPPROVmBf: However, the labor must be performed at the place of disablement. No deductibl( s� 'j''�AeAAgo enhancement. _ -- Risk Management Specialist CA 83 63 04 18 Includes copyrighted material of Insurance Services Office, Inc., with its permission