Laserfiche WebLink
Item 10. - NEWLY FORMED OR ACQUIRED ENTITIES <br />Paragraph 3. of Section II Who Is An Insured is replaced by the following: <br />3. Any organization, other than a joint venture, you newly acquire or form and over which you maintain majority <br />ownership or majority interest, will qualify as a Named Insured if there is no other similar insurance available <br />to that organization. <br />a. Coverage under this provision is afforded only until <br />i. the 180th day after you acquire or form the organization; or <br />ii. separate coverage is purchased for the organization; or <br />iii. the end of the policy period, <br />whichever is earlier. <br />b. Coverage A does not apply to bodily injury or property damage that occurred before you acquired or <br />formed the organization; and <br />c. Coverage B does not apply to personal and advertising injury arising out of an offense committed <br />before you acquired or formed the organization. <br />No person or organization is an insured with respect to the conduct of any past partnership, current or past joint <br />venture or past limited liability company that is not shown as a Named Insured in the Declarations. <br />Item 11. - BLANKET ADDITIONAL INSURED AND WAIVER OF SUBROGATION MANAGERS OR <br />LESSORS OF PREMISES <br />A. Section II Who Is An Insured is amended to include as an insured any manager or lessor of premises leased by <br />you in which the written lease agreement obligates you to procure additional insured coverage, provided that: <br />1. the bodily injury , property damage or personal and advertising injury giving rise to liability occurs <br />subsequent to the execution of the agreement; and <br />2. the written agreement is in effect at the time of the bodily injury , property damage , personal and <br />advertising injury for which coverage is sought. <br />That person or organization shall be referred to as the additional insured. <br />The coverage afforded to the additional insured is limited to liability in connection with the ownership, maintenance or <br />use of the premises leased to you and caused, in whole or in part, by some negligent acts or omissions of you, your <br />employees, your agents, or your subcontractors. There is no coverage for the additional insured for bodily injury , <br />property damage or personal and advertising injury arising out of the sole negligence of the additional insured or <br />by those acting on behalf of the additional insured, except as provided below. <br />If the written agreement to indemnify an additional insured requires that you indemnify the additional insured for its <br />sole negligence, then the coverage for the additional insured shall conform to that agreement; provided, however, that <br />the contractual indemnification language of the agreement is valid under the law of the state where the agreement was <br />formed. If the written agreement provides that a particular state s law will apply, then such provision will be honored. <br />B. Waiver Of Subrogation <br />For any additional insured that obtains insured status on this policy through paragraph A., above, we waive any right of <br />recovery we may have against the additional insured because of payments we make for "bodily injury", "property <br />damage" or "personal and advertising injury" to which this insurance applies. <br />C. Exclusions <br />This insurance does not apply to: <br />1. Any occurrence that takes place after you cease to be a tenant in that premises. <br />2. Any construction, renovation, demolition or installation operations performed by or on behalf of the <br />Additional Insured. <br />3. Any premises for which coverage is excluded by endorsement. <br />LG 32 37 09 07 <br />Page 4 of 9 <br />