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ILLUMINATION FOUNDATION NET -2016
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ILLUMINATION FOUNDATION NET -2016
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Last modified
5/30/2017 5:01:11 PM
Creation date
9/14/2016 10:36:51 AM
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Contracts
Company Name
ILLUMINATION FOUNDATION NET
Contract #
A-2016-064
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
4/19/2016
Expiration Date
6/30/2017
Insurance Exp Date
1/1/2018
Destruction Year
2022
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When this insurance is excess, we will have no <br />duty under Coverages A or B to defend the in- <br />sured against any "suit" if any other insurer has <br />a duty to defend the insured against that "suit". <br />If no other insurer defends, we will undertake to <br />do so, but we will be entitled to the insured's <br />rights against all those other insurers. <br />When this insurance is excess over other in- <br />surance, we will pay only our share of the <br />amount of the loss, if any, that exceeds the <br />sum of: <br />(1) The total amount that all such other insur- <br />ance would pay for the loss in, the absence <br />of this insurance; and <br />(2) The total of all deductible and self-insured <br />amounts under all that other insurance. <br />We will share the remaining loss, if any, with <br />any other insurance that is not described in this <br />Excess Insurance provision and was not <br />bought specifically to apply in excess of the <br />Limits of Insurance shown in the Declarations <br />of this Coverage Part. <br />c. Methodl Of Sharing <br />If all of the other insurance permits contribution <br />by equal shares, we will follow this method <br />also. Under this approach each insurer contrib- <br />utes equal amounts until it has paid its applica- <br />ble limit of insurance or none of the loss re- <br />mains, whichever comes first. <br />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 111imits of in- <br />surance of all insurers. <br />5. Premium Audit <br />a. We will compute all premiums for this Cover- <br />age Part in accordance with our rules and <br />rates. <br />b. Premium shown in this Coverage Part as ad- <br />vance premium is a deposit premium only. At <br />the close of each audit period we will compute <br />the earned premium for that period. Audit pre- <br />miums are due and payable on notice to the <br />first Named Insured. If the sum of the advance <br />and audit premiums paid for the policy period is <br />greater than the earned premium, we will return <br />the excess to the first Named Insured, <br />c. The first Named Insured must keep records of <br />the information we need for premium computa- <br />tion, and send us copies at such times as we <br />may request. <br />6. Representations <br />By accepting this policy, you agree: <br />a. The statements in the Declarations are accu- <br />rate and complete; <br />b. Those statements are based upon representa- <br />tions you made to us; and <br />c. We have issued this policy in reliance upon <br />your 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 in- <br />surance applies: <br />a. As if each Named Insured were the only <br />Named 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 expi- <br />ration 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 mar- <br />ket segments about your goods, products or ser- <br />vices for the purpose of attracting customers or <br />supporters. <br />2. "Auto" means a land motor vehicle, trailer or semi- <br />trailer designed for travel on public roads, including <br />any attached machinery or equipment. But "auto" <br />does not include "mobile equipment". <br />3. "Bodily injury' means bodily injury, sickness or <br />disease sustained by a person, including death re- <br />sulting 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 Rioo and <br />Canada-, <br />Page 10 of 13 Copyright, Insurance Services Office, Inc., 1997 <br />14 <br />CG 00 01 07 98 ❑ <br />
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