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This endorsement modifies insurance provided under the following: BUSINESS AUTO COVERAGE FORM A. Broad Form Named Insured that is executed by you before the "bodily in- The following is added to the SECTION II — jury"or"property damage" occurs. COVERED AUTOS LIABILITY COVER- D. Blanket Waiver Of Subrogation AGE, Paragraph A.1. Who Is An Insured The following is added to the SECTION IV— Provision: BUSINESS AUTO CONDITIONS, A. Loss Any business entity newly acquired or Condition, 5. Transfer of Rights Of Re- formed by you during the policy period, pro- covery Against Others To Us: vided you own fifty percent (50%) or more of We waive any right of recovery we may the business entity and the business entity is have against any person or organization to not separately insured for Business Auto the extent required of you by a contract exe- Coverage. Coverage is extended up to a maximum of one hundred eighty (180) days cuted prior to any "accident" or "loss", pro- following the acquisition or formation of the vided that the "accident" or "loss" arises out business entity. of the operations contemplated by such con- tract. The waiver applies only to the person This provision does not apply to any person or organization designated in such contract. or organization for which coverage is ex- E. Employee Hired Autos cluded by endorsement. B. Employees as Insureds 1. The following is added to the SECTION II — COVERED AUTOS LIABILITY The following is added to the SECTION II — COVERAGE, Paragraph A.1. Who Is COVERED AUTOS LIABILITY COVER- An Insured Provision: AGE, Paragraph A.I. Who Is An Insured An "employee" of your is an "insured" Provision: while operating an "auto" hired or rented Any "employee" of yours is an "insured" under a contract or agreement in that while using a covered "auto" you don't own, "employee's" name, with your permis- hire or borrow in your business or your per- sion, while performing duties related to sonal affairs. the conduct of your business. C. Blanket Additional Insured 2. Changes In General Conditions: The following is added to the SECTION II — Paragraph 5.b. of the Other Insurance COVERED AUTOS LIABILITY COVER- Condition in the BUSINESS AUTO AGE, Paragraph A.1. Who Is An Insured CONDITIONS is deleted and replaced Provision: with the following: Any person or organization that you are re- b. For Hired Auto Physical Damage quired to include as an additional insured on Coverage, the following are deemed this coverage form in a contract or agree- to be covered"autos"you own: ment that is executed by you before the (1) Any covered "auto" you lease, "bodily injury" or "property damage" occurs hire, rent or borrow; and is an "insured" for liability coverage, but only for damages to which this insurance applies (2) Any covered "auto" hired or and only to the extent that person or organi- rented by your "employee" un- zation qualifies as an "insured" under the der a contract in that individual Who Is An Insured provision contained in "employee's" name, with your SECTION 11 — COVERED AUTOS LIABIL- permission, while performing ITY COVERAGE. duties related to the conduct of The insurance provided to the additional your business. However any insured will be on a primary and non- auto" that is leased, hired, rent- contributory basis to the additional insured's ed or borrowed with a driver is own business auto coverage if you are re- not a covered"auto". quired to do so in a contract or agreement Contractors Bonding and Insurance Company RAU 300 01 17 Contains copyrighted material of Page 2 of 6 Insurance Services Office, Inc.,with its permission APPROVED By Cynthia Mora at 7:47 am,Nov 25,2024