Laserfiche WebLink
If any of the other insurance does not permit <br />contribution by equal shares, we will contribute <br />by limits. Under this method, each insurer's <br />share is based on the ratio of its applicable limit <br />of insurance to the total applicable limits of <br />insurance of all insurers. <br />5. Premium Audit <br />a. We will compute all premiums for this Coverage <br />Part in accordance with our rules and rates. <br />b. Premium shown in this Coverage Part as <br />advance premium is a deposit premium only. At <br />the close of each audit period we will compute <br />the earned premium for that period and send <br />notice to the first Named Insured. The due date <br />for audit and retrospective premiums is the date <br />shown as the due date on the bill. If the sum of <br />the advance and audit premiums paid for the <br />policy period is greater than the earned <br />premium, we will return the excess to the first <br />Named Insured. <br />c. The first Named Insured must keep records of <br />the information we need for premium compu- <br />tation, and send us copies at such times as we <br />may request. <br />6. Representations <br />_ B"ccepting this policy you agree <br />a. The statements in the Declarations are accurate <br />and complete; <br />b. Those statements are based upon rep- <br />resentations you made to us; and <br />c. We have issued this policy in reliance upon your <br />representations. <br />7. Separation of Insureds <br />Except with respect to the Limits of Insurance, and <br />any rights or duties specifically assigned in this <br />Coverage Part to the first Named Insured, this <br />insurance applies: <br />a. As if each Named Insured were the only Named <br />Insured; and <br />b. Separately to each insured against whom claim <br />is made or "suit" is brought. <br />8. Transfer Of Rights Of Recovery Against Others <br />To Us <br />If the insured has rights to recover all or part of any <br />payment we have made under this Coverage Part, <br />those rights are transferred to us. The insured <br />must do nothing after loss to impair them. At our <br />request, the insured will bring "suit" or transfer <br />those rights to us and help us enforce them. <br />9. When We Do Not Renew <br />If we decide not to renew this Coverage Part, we <br />will mail or deliver to the first Named Insured <br />shown in the Declarations written notice of the <br />nonrenewal not less than 30 days before the <br />expiration date. <br />If notice is mailed, proof of mailing will be sufficient <br />proof of notice. <br />SECTION V • DEFINITIONS <br />1. "Advertisement" means a notice that is broadcast <br />or published to the general public or specific market <br />segments about your goods, products or services <br />for the purpose of attracting customers or <br />supporters. For the purposes of this definition: <br />a. Notices that are published include material <br />placed on the Internet or on similar electronic <br />means of communication; and <br />b. Regarding web- sites, only that part of a web -site <br />that is about your goods, products or services <br />for the purposes of attracting customers or <br />supporters is considered an advertisement. <br />2. "Auto" means: <br />a. A land motor vehicle, trailer or semitrailer <br />designed for travel on public roads, including <br />any attached machinery or equipment; or <br />b. Any other land vehicle that is subject to a com- <br />pulsory or financial responsibility law or other <br />motor vehicle insurance law in the state where it <br />is licensed or principally garaged. <br />However, "auto" does not include "mobile equip- <br />ment". <br />3. "Bodily injury" means bodily injury, sickness or <br />disease sustained by a person, including death <br />resulting _from -any of-these-at_ any _ time. <br />4. "Coverage territory" means: <br />a. The United States of America (including its <br />territories and possessions), Puerto Rico and <br />Canada; <br />b. International waters or airspace, but only if the <br />injury or damage occurs in the course of travel <br />or transportation between any places included in <br />Paragraph a. above; or <br />c. All other parts of the world if the injury or <br />damage arises out of: <br />(1)Goods or products made or sold by you in <br />the territory described in Paragraph a. above; <br />(2) The activities of a person whose home is in <br />the territory described in Paragraph a. above, <br />but is away for a short time on your business; <br />or <br />(3) "Personal and advertising injury" offenses <br />that take place through the Internet or similar <br />electronic means of communication <br />provided the insured's responsibility to pay <br />damages is determined in a "suit" on the merits, <br />in the territory described in Paragraph a. above <br />or in a settlement we agree to. <br />5. "Employee" includes a "leased worker ". "Em- <br />ployee" does not include a "temporary worker ". <br />6. "Executive officer" means a person holding any of <br />the officer positions created by your charter, <br />constitution, by -laws or any other similar governing <br />document. <br />CG 00 01 12 07 Copyright, ISO Properties, Inc., 2006 Page 11 of 14 11 <br />