BENTON, BETSY 3 - 2009 - Laserfiche WebLink

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.y 4. Territory This Policy applies to Wrongful Acts committed by the Insured anywhere in the world; provided, however, that any Claim made as a result of such Wrongful Acts must be brought and held against the Insured in the United States of America, its territories or possessions. V. GENERAL CONDITIONS 1. Limits of Liability /Deductible The Insurers' maximum liability for all Loss and Claims Expenses resulting from each Claim shall be the Limit of Liability for each Claim set forth in Item 3(A) of the Declarations. The Insurers' maximum aggregate liability for all. Loss and Claims Expenses resulting from all Claims covered by this Policy shall be the aggregate Limit of Liability for all Claims set forth in Item 3(B) of the Declarations. All Claims arising out of the same Wrongful Act shall be considered first made within the Policy Period in which the earliest of such Claims was first made and all such Claims shall be subject to one such Limit of Liability as set forth in Item 3(A) of the Declarations. For purposes orthe Limits of Liability, continuous, repeated, related or Interrelated Wrongful Acts shall be considered as one Wrongful Act The Limits of Liability of the Insurers for any Extended Reporting Period shall be part of, and not in addition to, the Limits of Liability of the Insurers for the Policy Period. The Insurers shall only be liable for Loss and Claims Expenses which are in excess of the Deductible stated in Item 4 of the Declarations. This Deductible shall apply separately to each Claim and shall be bome by the Insured and remain uninsured. For purposes of the Deductible, Claims arising out of one Wrongful Act or out of continuous, repeated, related, or interrelated Wrongful Acts shall be considered as arising out of one Wrongful Act, and only one Deductible amount shall apply thereto. The Deductible shall not reduce or increase the Limits of Liability. Claims made against more than one Insured arising out of one Wrongful Act under this Policy shall not operate to increase the limits of Liability. 2. Extended Reporting Period ADR (7/00) If the Named Insured shall cancel or fail to renew this Policy, or if the Insurers refuse to renew this Policy, the Named Insured shall have the right to purchase an Extended Reporting Period to apply to Claims first made against the Insured and reported to the Insurers during the Extended Reporting Period for a period of one year for an additional premium of 75% of the total annual premium, but only with respect to Claims arising out of Wrongful Acts committed before the date of such cancellation or non - renewal. This Extended Reporting Period is subject to all other terms, conditions, limitations of and any endorsements to this Policy. As a condition precedent to the Named Insured's right to purchase the Extended Reporting Period, the full premium for this Policy and Policy Period must have been paid. The Named Insured's right to purchase the Extended Reporting Period must be exercised by notice in writing not later than 30 days following the non - renewal or cancellation date of this Policy, and must include payment of premium for the applicable Extended Reporting Period. If such notice is not so given to the Insurers, the Named Insured shall not, at a later date, be able to exercise such right. At the commencement of any Extended Reporting Period, the entire premium thereafter shall be deemed earned. 5 of 6