TKO BOXING CLUB 8 - Laserfiche WebLink

Home Browse Search

United States Amateur Boxing b. T~ term use b~ tu~iy wgmpiied wdh.ss all of A person or organ¢ation may sue us to recover on an agreed settlement or on a final judgment against an insured; but we wilt not ba liable for damages that are not payable under the terms of this Coverage Part or that are in excess of the ap- plicable rxnit of insurance. An agreed aettlemeM means a settlement and release of 1ia631ity signed by us, the insured and the claimant ar the claim- ant's legal representative. 4. Otherlnsurance If other valid and collectible insurance is available to the insured for a loss we rover under Cover- ages A or B of this Coverage Part, our obligations are limited as follows: a. Primary Insurance This insurance is primary except when b. be- low applies. If this insurance {s primary, our ob- ligations are not affected unless any of the other insurance is also primary. Then, we will share with ag that other insurance by the method described inc. below. b. Excesslnsurance This insurance is excess aver. (i) mnary, excess,thconUrrgent or onhany other basis: (a) That is Fire, Extended Coverage, Buitdefs Risk, Installation Risk or similar coverage for "your work"; (b) 'That is Fire insurance [or premises ranted to you or temporedry occupied by you with permission of the owner, {e) That Is insurance purchased by you to cover your liability as a tenant for "prop- erty damage" to premises rented to you or temporarily occupied by You with permission of the owner, or {d) If the toss adses out of the maintenance or use of aircreft, "autos" or watercraft to the extent not subject to Excluslan g. of Section I - Coverega A -.Bodily Irry'ury And Property Damage Liabridy. (2) Arty other primary insurance avagable to you covering liability for damages arising out of the premises or operations, or the products and completed apera0ons, for which you have been added as an addi- tional insured by attachment of an en- dorsement. When this insurance is excess, we wi0 have n0 duty under Coverages A or B to defend the in- sured against any "suit" if any other insurer has a duty to defend the insured against that "suit" If no other insurer defends, we wi0 undertake to do so, but we will be enfitlad to the insured's rights against all those other insurers When this insurance is excess over other in- surance, we will pay only our share of the amount of the loss, d any, that exceeds the sum of. (1) The total amount that all such other insur- ance would pay far the loss in the absence of this Insurance: and (2) The total of all deductible and self-Insured amounts under all that other insurance We wilt share the remaining loss, 'rf any, with arty other insurance that is not described in this Excess Insurance provision and was not bought specifically to appty in excess of the Limits of Insurance shown in the Dedaretions of this Coverage Part. c. Method Of Sharing If all of the other Insurance permits contdbution by equal shares, we will follow this method else. Under this approach oath insurer con- tributes equal amounts until it has paid Nur ap- plicable I'unit of insurance or none of the loss remains, whichever comes first If any of the other insurance does not permit contribution by equal shares, we will wntdbute by limits. Under lhls method, each insurers share is based on the ratio ofgcable lpimits of limit of insurance to the total app insurance of all insurers 6. Premium Aud1t a. We will compute elf premiums for this Cover- age Part in accordance with our rules and rates. b. Premium shown in this Coverage Part as ad- vance premium is a deposit premium onty. At the cbse of each aud'd period we will compute the earned premium for that pedod and send notice to the first Named Insured The due date for aud'R and reVospective Premiums is the date shown as the due date on the bill If the sum of the advance end audit premiums paid for the policy period is greater than the earned premium, we will return the excess to the first Named Insured. e. Tice first Named Insured must keep records of the information we need for premium canputa- tion, and send us copies at such Umes as we may request CG 00 01 7204 ®ISO Properties, Inc., 2003 Page 11 of 1 S ^