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<br />.; ,,' ~R. 5.2004 <br /> <br />3: 30PM <br /> <br />1heSfRwl <br /> <br />shares, we'll share the damages equally. But <br />we won't pay more than the limits of <br />coverage that apply under this agreement. <br />If any polley reaches its limit before the <br />entire amount of dam"ges is paid, the <br />rem"ining policies will share the balance <br />equally until their limits have been used up <br />or the amount of the damages is paid in <br />full. For example: <br /> <br />You are required /:1y a court to pay <br />damages of $1,000,000. Besides this, <br />sgreement, two other policies apply to the <br />judgment. The limit under this agreement <br />Is $500,000, Policy B has a $100,000 <br />limit and Policy C's limit Is $300,000. <br /> <br />First, $100,000 Is subtracted from each <br />polícy'S limit because that /s the lowest <br />limit provided /Yo¡ any of the three policies. <br />The result is Policy Us limit is used up. <br />the balance due on the judgment is <br />$700,000, $400,000 remains of this <br />agreement's limit, and the unused portion <br />of Policy C's limit equals 5200,000. <br /> <br />Next, $200,000 Is subtracted from the <br />limit under this agreement and Policy C <br />because that amount equals the smallest <br />amount of limIt remaining on either policy <br />after the initial $100,000 payment. The <br />result is Policy C's limit is used up, the <br />balance due on the judgment is now <br /> <br />NO.293 <br /> <br />P.31/31 <br /> <br />$300,000, and this agreement has <br />$200.000 of its limit remaining. <br /> <br />Finally, the rest of the limit under this <br />agreement is paid. The result is this <br />agreement's limit is used up and the <br />balance due on the judgment is now <br />$700,000, which you must pay. The total <br />paid under each policy is $500,000 this <br />agreement, $100,000 Policy B, and <br />$300,000 Policy C. <br /> <br />Contribution by limits. If any of the other <br />Insurance doesn't permit contribution by <br />equal shares, we'll pay the portion of the <br />damages that is equal to our percentage of <br />the total of all limits that apply, But we <br />won't pay more than tha limits of coverage <br />that apply under this agraement. For <br />example: <br /> <br />You are required /:1y a court to pay <br />damages of $600,000. Besides this <br />agreement, aoother policy applies to the <br />judgment. The limit under this agreement <br />is $300,000. Policy B has a $100,000 <br />limit. The total limit of all insurance Is <br />$400.000. <br /> <br />Our limit Is 75% ($300,000/$400,000) of <br />the total limit. But we waITt pay 75% of <br />the judgment because that $450,000 share <br />is more than our limit. We'll pay only our <br />limit. which is $300,000. <br /> <br />~ 3¿;lJo <br /> <br />47150 Rev. 7-01 Printed In U.S.A.. <br />Cle~e .", ~. .", "'C::+l'a" Fir.. ~nrl lVI,.rin.. In"uranc.. Ct>. 2001 .6.11 Riahts Reserved <br />