Orange County NC Website
Browse       Search
DocuSign Envelope ID: 098EB4F2 -C3F4- 4867- B5FC- 1 14E7E9097CF <br />POLICYNUMBER: B2K8262X COMMERCIAL AUTOMOBILE <br />THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. <br />COMMERCIAL AUTOMOBILE ELITE ENDORSEMENT <br />This endorsement modifies insurance provided under the following: <br />BUSINESS AUTO COVERAGE FORM <br />With respect to coverage provided by this endorsement, the provisions of the Coverage Form apply unless modi- <br />fied by this endorsement. <br />1. BROAD FORM INSURED <br />A. Subsidiaries and Newly Acquired or Formed <br />Organizations <br />The Named Insured shown in the Declara- <br />tions is amended to include: <br />(1) Any legally incorporated subsidiary in <br />which you own more than 50% of the <br />voting stock on the effective date of the <br />Coverage Form. However, the Named <br />Insured does not include any subsidi- <br />ary: <br />(a) That is an 'Insured" under any other <br />automobile policy or <br />(b) That would be an "insured" under <br />such a policy but for (i) its termina- <br />tion or (ii) the exhaustion of its Limit <br />of Insurance. <br />(2) Any organization that is acquired or <br />formed by you and over which you <br />maintain majority ownership. However, <br />the Named Insured does not include <br />any newly formed or acquired organiza- <br />tion: <br />(a) That is a partnership, joint venture <br />or limited liability company, <br />(b) That is an 'Insured" under any other <br />policy, <br />(c) That has exhausted its Limit of In- <br />surance under any other policy, or <br />(d) 180 days or more after its acquisition <br />or formation by you, unless you <br />have given us notice of the acquisi- <br />tion or formation. <br />Coverage does not apply to "bodily injury" <br />or "property damage" that results from an <br />"accident" that occurred before you formed <br />or acquired the organization. <br />B. Employees as Insureds <br />Paragraph A.1. - WHO IS AN INSURED —of <br />SECTION II - LIABILITY COVERAGE is <br />amended to add: <br />Any "employee" of yours while using a cov- <br />ered "auto" you don't own, hire or borrow in <br />your business or your personal affairs. <br />C. Lessors as Insureds <br />Paragraph A.1 - WHO IS AN INSURED of <br />Section II - LIABILITY COVERAGE is <br />amended to add: <br />e. The lessor of a covered "auto" while the <br />"auto" is leased to you under a written <br />agreement if: <br />(1) The agreement requires you to pro- <br />vide direct primary insurance for the <br />lessor and <br />(2) The "auto" is leased without a driver. <br />Such a leased "auto" will be consid- <br />ered a covered "auto" you own and <br />not a covered "auto" you hire. <br />2. ADDITIONAL INSURED BY CONTRACT, <br />PERMIT OR AGREEMENT <br />The following is added to A.1 WHO IS AN <br />INSURED of SECTION II - LIABILITY <br />COVERAGE: <br />Any person or organization for whom you are <br />required to name as an additional insured in a <br />written contract or agreement that is executed or <br />signed by you prior to a "bodily injury" or "prop- <br />erty damage" occurrence is an 'Insured" for li- <br />ability coverage, but only to the extent that per- <br />son or organization qualifies as an 'Insured" <br />under the WHO IS AN INSURED provision con- <br />tained in SECTION II of the coverage form. <br />If specifically required by the written contract or <br />agreement referenced in the paragraph above, <br />any coverage provided by this endorsement to <br />an additional insured shall be primary and any <br />64 8722 1012 Includes Copyrighted materials by © ISO Properties, Inc. Pagel of 3 <br />INSURED COPY <br />