PARAGON PARTNERS (2) -2011 - Laserfiche WebLink

Home Browse Search

that are in excess of the applicable limit of Insurance. An agreed settlement means a settlement and release of Ilability signed by us, the Insured and the claimant or the claimant's legal representative. 4. Other Insurance If other valid and collectible insurance Is available to the insured for a loss we cover under Coverages A or B of this Coverage Part, our obligations are limited as follows: a. Primary Insurance This insurance is primary except when b. below applies. If other Insurance is also primary, we will share with all that other insurance by the method described in c, below. b. Excess Insurance This insurance is excess over any of the other insurance, whether primary, excess, contingent or on any other basis: (1) Your Work That is Fire, Extended Coverage, Builder's Risk, Installation Risk or similar coverage for "your work"; (2) Premises Rented To You That is fire, lightning or explosion insurance for premises rented to you or temporarily occupied by you with permission of the owner, (3) Tenant Liability That is Insurance purchased by you to cover your liability as a tenant for "property damage" to premises rented to you or temporarily occupied by you with permission of the owner; (4) Aircraft, Auto Or Watercraft If the loss arises out of the maintenance or use of aircraft, "autos" or watercraft to the extent not subject to Exclusion g. of Section I — Coverage A — Bodily Injury And Property Damage Liability; (5) Property Damage to Borrowed Equipment Or Use Of Elevators If the toss arises out of "property damage" to borrowed equipment or the use of elevators to the extent not subject to Exclusion j. of Section - Coverage A - Bodily Injury And Property Damage Liability; (6) When You Are Added As An Additional Insured To Other Insurance Any other insurance available to you covering liability for damages arising out of the premises or operations, or products and completed operations, for which you have been added as an additional Insured by that Insurance; or (7) When You Add Others As An Additional Insured To This Insurance Any other insurance available to an additional Insured. However, the following provisions apply to other Insurance available to any person or organization who is an additional Insured under this coverage part. (a) Primary Insurance When Required By This insurance is primary if you have agreed In a written contract or written agreement that this insurance be primary. If other insurance Is also primary, we will share with all that other insurance by the method described In c. below. (b) Primary And Non-Contrlbutnry Ta Other insurance When Required By Contract If you have agreed In a wnttan contract, written agreement, or permit that this Insurance is primary and non-contributory with the additional insured's awn insurance, this insurance is primary and we will not seek contribution from that other insurance. Paragraphs (a) and (b) do not apply to other insurance to which the additional Insured has been added as an additional Insured. When this insurance is excess,'we will have no duty under Coverages A or B to defend the Insured against any "suit" if any other insurer has a duty to defend the insured against that "suit". If no other insurer defends, we will undertake to do so, but we will be entitled to the Insured's rights against all those other insurers. When this insurance is excess over other insurance, we will pay only our share of the amount of the loss, if any, that exceeds the sum of: (1) The total amount that all such other Insurance would pay for 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 will share the remaining lass, if any, with any other insurance that Is not described in this Excess Insurance provision and was not bought specifically to apply in excess of the Limits of Insurance shown in the Declarations of this Coverage Part. c. Method Of Sharing If all of the other Insurance permits contribution by equal shares, we will follow this method also. Under this approach each insurer contributes equal amounts until It has paid its applicable limit of insurance or none of the loss remains, whichever comes first. Page 14 of 18 HG 00 01 06 05