Orange County NC Website
Browse       Search
CA 83 63 03 23 Includes material copyrighted by Insurance Services Office, Inc., with <br />its permission <br />Page 3 of 9 <br />b. When a written contract or written agreement does not require this insurance to be primary or primary <br />and non-contributory, this insurance is excess over any other insurance for which the Additional Insured <br />is designated as a Named Insured. <br />c. Regardless of the written contract or written agreement between you and an Additional Insured, this <br />insurance is excess over any other insurance whether primary, excess, contingent or any other basis for <br />which the Additional Insured has been added as an additional insured on other policies. <br />d. If coverage provided to the additional insured is required by a written contract or written agreement, the <br />most we will pay on behalf of the additional insured is the amount of insurance: <br />(1) Required by the written contract or written agreement; or <br />(2) Available under the applicable Limits of Insurance show in the Declarations; <br />whichever is less. <br />C. Leased Auto Coverage <br />With respect to insurance provided to an Additional Insured who is a lessor of a “leased auto” the following <br />provisions apply: <br />(1) Section II – Covered Autos Liability Coverage, Paragraph A. is amended by adding the following: <br />a. Any “leased auto” designated or described in the Schedule will be considered a covered “auto” you own <br />and not a covered “auto” you hire or borrow. <br />b. For a covered “auto” that is a “leased auto” Who Is An Insured is changed to include as an “Insured” the <br />lessor. <br />c. The coverages provided under this endorsement apply to any “leased auto” described in the Schedule <br />until the expiration date shown in the Schedule, or when the lessor or his or her agent takes possession <br />of the “leased auto,” whichever occurs first. <br />(2) Section IV – Business Auto Conditions, Paragraph A.4. Physical Damage Coverages is amended by <br />adding the following: <br />d. Pay, as interest may appear, you and the lessor for “loss” to a “leased auto.” <br />(1) This insurance covers the interest of the lessor unless the “loss” results from fraudulent acts or <br />omissions on your part. <br />(2) If we make any payment to the lessor, we will obtain his or her rights against any other party. <br />(3) Section V – Definitions is amended by adding the following definition: <br />“Leased auto” means any “auto” leased or rented to you including any substitute, replacement or extra “auto” <br />needed to meet seasonal or other needs, under a leasing or rental agreement that requires you to provide <br />direct primary insurance for the lessor. <br />D. Owned Subsidiaries and Newly Acquired or Formed Organizations <br />Section II - Covered Autos Liability Coverage, Paragraph A.1.c. is deleted and replaced the following: <br />c. Any subsidiary which is a legally incorporated entity of which you maintain ownership or majority interest on <br />the effective date of this Coverage Form, except: <br />24