NASTICH LAW, APC - Laserfiche WebLink

Home Browse Search

A. In the event Claim Expenses are included within the limit of liability as specified in Item 4.a. of the Declarations, the limit of liability stated in the Declarations as applicable to "each Claim" is the limit of the company's liability for all Damages and Claims Expenses because of each Claim covered hereby. Notwithstanding the forgoing, an additional aggregate limit of $50,000 shall be provided solely for payment of Claims Expenses. All Claims arising from the same or related negligent act, error or omission or Personal Injury shall be considered a single Claim for the purpose of this insurance and shall be subject to the same limit of liability, The limit of liability stated In the Declarations as "aggregate" is, subject to the above provision respecting "each Claim", the total limit of the Company's liability under this policy for all Damages and Claims Expenses. B. In the event Claim Expenses are in addition to the limit of liability as specified in Item 4.b. of the Declarations, the limit of liability stated in the Declarations as applicable to "each Claim" is the limit of the Company's liability for Damages resulting from each Claim covered hereby. There shall be a separate limit of liability equal to one-half(1/2)of the limit of liability for Damages applicable to Claim Expenses for any such Claim. Such limit for Claim Expenses shall not exceed $1,000,000 regardless of the limit of liability purchased for Damages. All Claims arising from the same or related negligent act, error or omission or Personal Injury shall be considered a single Claim for the purpose of this insurance and shall be subject to the same limit of liability. In the event that the Claim Expenses limit of liability is exhausted, all subsequently incurred Claim Expenses will apply to and erode the policy's limit of liability. The limit of liability stated in the Declarations as "aggregate" is, subject to the above provision respecting "each Claim", the total limit of the Company's liability under this policy for all Damages. A separate "aggregate" limit of liability shall apply to all Claims Expenses incurred in the defense of Claims covered by this Policy, subject to the above provision respecting the Company's liability for Claim Expenses for"each Claim". C. The Company's liability for Damages and/or Claim Expenses, as applicable, resulting from "each Claim" is in excess of the deductible amount stated in the Declarations. The deductible amount stated in the Declarations shall upon written demand by the Company, be paid by the Named Insured within 30 days of demand. D. The application of any Extended Reporting Period option shall not increase the limit of liability stated in the Declarations. E. In the event the Insured participated in an Alternative Dispute Resolution to settle a Claim brought by a client of the firm, the Company will waive 50% of the Insured's deductible obligation. The maximum amount of this waiver shall not exceed $25,000 per Claim. If the Alternative Dispute Resolution fails to resolve the Claim, and the Claim proceeds to litigation, the deductible will apply to any Damages and/or Claim Expenses paid by the Company after the litigation has commenced. F. If this policy and any other policy issued by Arch Insurance Company including any extended reporting period coverage afforded by such policy or policies, provides coverage to the same Claim against the Insured, the maximum limit of liability under all the policies shall not exceed the highest remaining Each Claim limit of liability under any one policy. IV. POLICY TERRITORY This insurance is provided worldwide. as_°n,t.t Risk MmaganatU +' z REMEWm&APPRovm Br 05 LPL0002 05 04 17 Risk Management Specialist