Orange County NC Website
Browse       Search
Docusign Envelope ID: B576D624-E16E-4D9F-BC67-5703DE54A6F8 <br /> UMBRELLA <br /> management event" after the date you acquired or D. CHANGES <br /> formed such organization. This policy contains all the agreements between <br /> SECTION V—CONDITIONS you and us concerning the insurance afforded. No <br /> A. APPEALS change can be made in the terms of this <br /> insurance except with our consent. The terms of <br /> 1. If the insured or the insured's "underlying this insurance can be amended or waived only by <br /> insurer" elects not to appeal a judgment which endorsement issued by us and made a part of this <br /> exceeds the "applicable underlying limit" or policy. <br /> "self-insured retention", we may do so. <br /> E. CURRENCY <br /> 2. If we appeal such a judgment, we will pay all <br /> costs of the appeal. These payments will not Payments for damages or expenses described in <br /> reduce the applicable limits of insurance. In no Paragraph S. of Paragraph D., DEFENSE AND <br /> SUPPLEMENTARY PAYMENTS, of SECTION I <br /> event will our liability exceed the applicable limit <br /> of insurance. — COVERAGES will be in the currency of the <br /> United States of America. At our sole option, we <br /> B. BANKRUPTCY may make these payments in a different currency. <br /> 1. Bankruptcy or insolvency of the insured or of Any necessary currency conversion for such <br /> the insured's estate will not relieve us of our payments will be calculated based on the rate of <br /> obligations under this insurance. exchange published in the Wall Street Journal <br /> 2. In the event of bankruptcy or insolvency of any immediately preceeding the date the payment is <br /> processed. <br /> "underlying insurer", this insurance will not <br /> replace such bankrupt or insolvent "underlying F. DUTIES REGARDING AN EVENT, <br /> insurer's" policy, and this insurance will apply as OCCURRENCE, CLAIM OR SUIT <br /> if such "underlying insurer" had not become 1. You must see to it that we are notified as <br /> bankrupt or insolvent. soon as practicable of an "event" or <br /> C. CANCELLATION "occurrence" which may result in a claim <br /> under this insurance. To the extent possible, <br /> 1. The first Named Insured shown in the notice should include: <br /> Declarations may cancel this insurance by a. How, when and where the "event" or <br /> mailing or delivering to us advance written <br /> "occurrence" took place; <br /> notice of cancellation. <br /> 2. We may cancel this insurance by mailing or b. The names and addresses of any <br /> delivering to such first Named Insured written persons or organizations sustaining injury, <br /> notice of cancellation at least: damage or loss, and the names and <br /> addresses of any witnesses; and <br /> a. 10 days before the effective date of c. The nature and location of any injury or <br /> cancellation if we cancel for nonpayment of damage arising out of the "event" or <br /> premium; or "occurrence". <br /> b. 60 days before the effective date of 2. If a claim is made or "suit" is brought against <br /> cancellation if we cancel for any other any insured which may result in a claim under <br /> reason. this insurance, you must see to it that we <br /> 3. We will mail or deliver our notice to such first receive written notice of the claim or "suit" as <br /> Named Insured's last mailing address known to soon as practicable. <br /> us. 3. With respect to Coverage A, the insured <br /> 4. Notice of cancellation will state the effective must: <br /> date of cancellation. The policy period will end a. Cooperate with us in the investigation, <br /> on that date. settlement or defense of any claim or <br /> S. If this insurance is cancelled, we will send such "suit"; <br /> first Named Insured any premium refund due. If b. Comply with the terms of the "underlying <br /> we cancel, the refund will be pro rata. If such insurance"; and <br /> first Named Insured cancels, the refund may be c. Pursue all rights of contribution or <br /> less than pro rata. The cancellation will be indemnity against any person or <br /> effective even if we have not made or offered a organization who may be liable to the <br /> refund. insured because of the injury, damage or <br /> 6. If notice is mailed, proof of mailing will be loss for which insurance is provided under <br /> sufficient proof of notice. <br /> Page 12 of 22 ©2016 The Travelers Indemnity Company.All rights reserved. EU 00 01 07 16 <br />