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Hanover Architects and Engineers Advantage <br /> Insurance Croup" Professional Liability Insurance <br /> event of any payment under this Policy, We shall be subrogated to the extent of such payment to all of Your <br /> rights of recovery. You shall execute and deliver such instruments and papers and do whatever else is <br /> necessary to secure such rights and shall do nothing to prejudice or compromise such rights without Our express <br /> written consent. This section does not apply, if You, prior to the date a Wrongful Act is committed, have waived <br /> Your right of recovery for Damages that result from such Wrongful Act. We hereby waive subrogation rights <br /> against Your client to the extent You had a written agreement to waive such rights, prior to the date a Wrongful <br /> Act is committed, and have waived Your right of recovery for Damages that result from such Wrongful Act. <br /> 7. Assignment <br /> No change in, modification of or assignment of interest in this Policy shall be effective except when made by a <br /> written endorsement to the Policy. <br /> 8. Sole Agent for the Insured <br /> By accepting this Policy, You agree that only the Named Insured is authorized to act on behalf of all Insureds <br /> with respect to the following: consenting to settlement or releasing rights under this Policy, payment for premiums <br /> and deductibles, receiving return premiums, giving or receiving notice of cancellation or non-renewal, requesting <br /> any optional Extended Reporting Period and agreeing to any changes in this insurance Policy. Each Insured <br /> agrees that the Named Insured shall act on its or their behalf with respect to such matters. <br /> 9. Coverage Territory and Valuation <br /> This Policy applies to a Wrongful Act committed anywhere in the world provided that the Claim is made and suit <br /> is brought against the Insured within the United States, its territories or possessions or Canada. All premiums, <br /> limits, deductibles, Loss and other amounts are expressed and payable in the currency of the United States of <br /> America. If a judgment is rendered, a settlement is denominated or another element of Loss under this Policy is <br /> stated in a currency other than the United States of America dollars, payment under this Policy shall be made in <br /> United States of America dollar equivalent determined by the rate of exchange published in the Wall Street <br /> Journal on the date the judgment becomes final, the amount of the settlement is agreed upon or any element of <br /> Loss is due, respectively. <br /> 10. Other Insurance <br /> a. If other valid and collectible insurance is available to You for Loss covered under this Policy, the insurance <br /> provided by this Policy shall be excess over such other insurance, regardless of whether or not such <br /> insurance is primary, contributory, excess, contingent or otherwise. <br /> b. When this insurance is excess, We have no duty to defend You against any Claim if any other insurer has a <br /> duty to defend You against the Claim. If no other insurer defends We will undertake to do so but We will be <br /> entitled to Your rights against those other insurers. <br /> c. When this insurance is excess over other insurance, We will pay only Our share of the amount of Loss, if <br /> any, that exceeds the sum of: <br /> 1) The total amount that all such other insurance would pay for the loss in the absence of this insurance; <br /> and <br /> 2) The total of all deductibles, self-insurance and retentions under all that other insurance. <br /> We will share the remaining Loss, if any, with any other insurance that is not described in this provision and <br /> was not bought specifically to apply in excess of the limit of liability shown in the Declarations page of this <br /> Policy. <br /> d. Method of Sharing <br /> If all the other insurance permits contribution by equal shares, We will follow this method also. Under this <br /> approach each insurer contributes equal amounts until it has paid its applicable limit of liability or none of the <br /> Loss remains, whichever comes first. <br /> If any other insurance does not permit contribution by equal shares, We will contribute by limits. Under this <br /> method, each insurer's share is based on the ratio of its applicable limit of liability to the total applicable limits <br /> of liability of all insurers. <br /> 921 1001 01/18 ©2018 The Hanover Insurance Company.All Rights Reserved. Page 16 of 17 <br />