PERSONAL UMBRELLA POLICY
Your Personal Umbrella Policy is written in plain language so that "you" may
fully understand the protection "you" have purchased. The policy consists of this
booklet, the Declarations Page which contains information that is unique to
"your" insurance program and other forms that may need to be attached to
complete "your" Personal Umbrella coverage. Together these comprise the legal
contract of indemnity that exists between "you" and <…………….>.
ii.
In the event of reduction or exhaustion of the aggregate limits of liability
under said underlying insurance by reason of losses paid thereunder, this
policy is subject to all the terms, conditions and definitions hereof shall:
Personal Injury or Property Damage Coverage
"We" agree, subject to all the conditions, exclusions, definitions and other terms
of this policy, to pay on "your" behalf the "Ultimate Net Loss" in excess of the
applicable underlying policies or the "Self-Insured Retention" shown on the
Declarations Page which "you" shall become legally obligated to pay as
compensatory damages because of "personal injury" or "property damage"
caused by an "occurrence". The "occurrence" may take place anywhere.
b.
The provision of automobile insurance under this policy is confined solely
to that provided by, and shall be subject to all the terms and conditions of
the Excess Automobile Policy. This insurance does not provide coverage
for any liability arising out of the ownership, use or operation of an
"automobile" except to the extent that coverage is provided by the Standard
Excess Automobile Policy (S.P.F. No. 7/ O.P.C.F. No. 7) if attached hereto.
The Family Protection Coverage is in effect only if a primary Family
Protection Endorsement / Underinsured Motorist Protection - limit is
listed in the Schedule of Underlying Liability Insurance. "We" agree to pay
all sums which "you" or "your" legal representative shall be legally entitled
to recover as damages from the owner or operator of an uninsured or
underinsured Automobile, provided coverage hereunder for loss involving
such uninsured or underinsured Automobile shall apply in accordance
with the terms and conditions of the primary Family Protection/
Underinsured Motorist Protection Insurance provided by the endorsement
to the underlying policy listed in the Schedule of Underlying Liability
Insurance.
Defence, Settlement and Supplementary Payments
With reference to any "occurrence" not covered by the underlying policy or
policies of insurance described on the Declarations Page or any other underlying
insurance collectible by "you", but covered by the conditions, definitions,
exclusions and other terms of this policy, "we" will, in addition to the amount of
the "Ultimate Net Loss" payable:
a.
b.
i.
in the event of reduction pay the excess of the reduced underlying
limit,
ii.
in the event of exhaustion continue in force as underlying insurance.
The Aggregate Limit applies separately to each consecutive annual period
and to any remaining period of less than 12 months, starting with the
beginning of the policy period shown on the "Declaration Page" unless the
policy period is extended after issuance for an additional period of less
than 12 months. In that case, the additional period will be deemed part of
the last preceding period for purposes of determining the Limit of
Insurance.
Automobile Coverage
a.
arising out of any coverage contained in an underlying insurance
listed in the Declarations if such coverage is subject in such
underlying insurance to an aggregate limit of liability for all insured
damages, the aggregate limit under this policy applying separately to
each such underlying insurance coverage.
c.
the "Self-Insured Retention" as set out in the Declarations Page in respect to
each "occurrence" not be covered by any underlying policy; or
d.
the "Self-Insured Retention" of $250,000 if the loss arises from the
operation, use or ownership of any personal use private passenger
automobile outside Canada and the United States of America.
Regardless of the number of persons insured by this policy, or by the number of
persons who bring claims or commence "actions" against "you" the limit of
liability shall not exceed the amount stated in Declarations Page arising out of
any one "occurrence".
Automatic Coverage for Additional Exposures
If "you" acquire any additional residence premises, rental properties,
automobiles, "recreational vehicles", or watercraft during the term of this policy,
"we" will extend the coverage to include these additional exposures, as of the
date of acquisition on the condition that underlying insurance with minimum
limits of liability of $1,000,000 is in force. If "you" do not advise "us" of any
additional exposures prior to the next policy expiry date, this automatic coverage
will cease on that date even if the policy is renewed.
Exclusions
defend any suit against "you" seeking damages on account of "personal
injury" or "property damage" even if such a suit is groundless, false or
fraudulent, and may make such investigation, negotiation and settlement
of any claim or suit as "we" deem expedient; "we" also have a duty to
defend any "occurrence" if the applicable limit of underlying insurance is
exhausted;
This policy shall not apply to claims made against "you" for "personal injury" or
"property damage" arising from:
pay premiums on bonds to release attachments in any such suit for an
amount not in excess of the applicable limit of liability on this policy, pay
premiums on appeal bonds required in any such defended suit but without
any obligations to apply for or furnish any such bonds;
c.
pay all expenses incurred by "us", all costs taxed against "you" in any such
suit defended by "us" and all interest on the entire amount of any
judgement therein which accrues after entry of judgement and before "we"
have paid or tendered or deposited in court that part of the judgement
which does not exceed the limit of our liability therein;
d.
pay all reasonable expenses incurred by "you" at our request to assist "us"
in the investigation or defence of a claim or "action" including actual loss of
earnings for up to $200.00 a day because of time off from work.
In jurisdictions where "we" may be prevented by law or otherwise from carrying
out this agreement, "we" shall pay any expense incurred with our written
consent in accordance with this agreement. "You" shall promptly reimburse "us"
for any amount of "Ultimate Net Loss" paid on "your" behalf within the "SelfInsured Retention" specified under the Limit of Liability section of this policy.
a.
any claims made against "you" by any person insured by this policy;
b.
the violation of any law or ordinance by "you" or with "your" knowledge or
by any other person insured by this policy;
c.
discrimination due to age, marital status, race, colour, sex, creed, national
origin, or any other discrimination;
d.
any "business" pursuits or "business property" (other than farms);
e.
the ownership, maintenance, operation, use, loading or unloading of any
"recreational vehicle" or watercraft unless covered by the underlying
insurance listed on the Declarations Page or insured elsewhere under the
Automatic Coverage for Additional Exposure option and then not for
broader coverage than provided by the underlying insurance;
f.
any "property damage" to:
g.
Limit of Liability
"We" shall only be liable for the "Ultimate Net Loss" being in excess of:
a.
the limits of the underlying liability insurance as set out in the Declarations
Page and the amount recoverable under any other underlying liability
insurance valid and collectible by "you" in respect of each "occurrence"
covered by said underlying liability insurance; or
b.
the Aggregate Limit is the most "we" will pay for the sum of all
compensatory damages:
i.
arising out of the "Products - Completed Operations Hazard", or
i.
property "you" own,
ii.
property "you" agree to insure,
iii.
property "you" rent, lease, use, occupy or have in "your" care,
custody or control, or upon which any action is performed for "you":
i.
any "property damage" to aircraft rented to or used by "you" or in
"your" care, custody or control,
ii.
any damages arising out of the ownership, maintenance, operation or
use of any aircraft, airport, or landing strip, or to the loading or
unloading of any aircraft;
h.
any act expected or intended from "your" standpoint. This exclusion does
not apply to "personal injury" resulting from the use of reasonable force to
protect persons or property;
i.
the rendering of or failure to render any professional services by "you" or
by any person for whose acts or commissions "you" are legally responsible;
j.
any liability imposed upon or assumed by "you" under any Worker's
Compensation Statute, unemployment compensation, disability benefits
law or similar laws;
k.
any act or omission by any person insured by this policy as an officer or
member of the Board of Directors of any corporation or other organization.
This exclusion shall not apply to members of any non-profit organizations
or corporations (excepting Condominium corporations or associations);
l.
any fines, penalties, punitive or exemplary damages;
m.
"occurrences" for which coverage by an underlying policy (whether
scheduled or not) has been denied due to a violation of conditions in such a
policy;
n.
any actual, threatened or proposed act of sexual harassment, sexual
misconduct, sexual molestation, physical abuse, or mental abuse by any
person. This exclusion also applies to any failure to take all reasonable and
proper steps to guard against the possibility of any of the foregoing;
o.
p.
4.
q.
war, invasion, act of foreign enemy declared or undeclared hostilities, civil
war, rebellion, revolution, insurrection, or military power;
r.
1.
any transmission of communicable disease. This exclusion also applies to
any failure to take all reasonable and proper steps to guard against the
possibility of the foregoing;
1.
Liability imposed by or arising under the Nuclear Liability Act;
2.
"Personal injury" or "property damage" with respect to which "you"
under this policy are insured under a contract of nuclear energy
liability insurance (whether the "Insured" is unnamed in such
contract and whether or not it is legally enforceable by the "Insured")
issued by the Nuclear Insurance Association of Canada or any other
Insurer or group or pool of Insurers or would be an "Insured" under
any such policy but for its termination upon exhaustion of its limit of
liability;
3.
The actual, alleged, potential or threatened spill, discharge, emission,
dispersal, seepage, leakage, migration, release or escape of
"pollutants":
i.
at or from any premises, site or location which is or was at any
time, owned or occupied by or rented or loaned to "you",
ii.
at or from any premises, site or location which is or was at any
time, used by or for "you" or others for the handling, storage,
disposal, processing, or treatment of waste,
iii.
which are or were at any time transported, handled, stored,
treated, disposed of, or processed as waste by or for "you" or
any person or organization for whom "you" may be legally
responsible, or
iv.
at or from any premises, site or location on which "you" or any
contractors or sub-contractors working directly or indirectly on
"your" behalf are performing operations:
"Personal injury" or "property damage" resulting directly or
indirectly from the "nuclear energy hazard" arising from:
i.
ii.
iii.
the ownership, maintenance, operation or use of a "nuclear
facility" by or on behalf of an "Insured",
the furnishing by an "Insured" of service materials, parts or
equipment in connection with the planning, construction,
maintenance, operation or use of a "nuclear facility",
the possession, consumption, use, handling, disposal or
transportation of "fissionable substances" or of other
"radioactive material" (except radioactive isotopes, away from a
"nuclear facility", which have reached the final stage of
fabrication so as to be usable for any scientific, medical,
agricultural, commercial, or industrial purpose) used,
distributed, handled, or sold by an "Insured".
As used in this form:
1.
The term "nuclear energy hazard" means the radioactive, toxic,
explosive, or other hazardous properties of "radioactive
material";
2.
The term "radioactive material" means uranium, thorium,
plutonium, neptunium, their respective derivatives, and
compounds, radioactive isotopes of other elements and any
other substances that the Atomic Energy Control Board may, by
regulation, designate as being prescribed substances capable of
releasing atomic energy, or as being requisite for the
production, use or application of atomic energy;
3.
The term "nuclear facility" means:
i.
ii.
iii.
iv.
any apparatus designed or used to sustain nuclear fission
in a self-supporting chain reaction or to contain a critical
mass of plutonium, thorium and uranium or any one or
more of them,
The term "fissionable substance" means any prescribed substance that is, or from which can be obtained, a Substance
capable of releasing atomic energy by nuclear fission.
a.
if the "pollutants" are brought on or to the premises, site
or location in connection with such operations by "you" or
any contractor or sub-contractor; or
b.
if the operations are to test for, monitor, clean up, remove,
contain, treat, detoxify, decontaminate, stabilize,
remediate or neutralize, or in any way respond to, or
assess the effect of "pollutants".
Sub-paragraphs i. and iv. a. of this exclusion do not apply to
"personal injury" or" property damage" caused by heat, smoke, or
fumes from a fire which becomes uncontrollable or breaks out from
where it was intended to be.
2.
any loss, cost or expense arising out of any request, demand or order
that "you" or others test for, monitor, clean up, remove, contain, treat,
detoxify, decontaminate, stabilize, remediate or neutralize, or in any
way respond to, or assess the effects of "pollutants" unless such loss
cost or expense is consequent upon personal injury" or "property
damage" covered by this policy.
Definitions
"Action" means a civil proceeding in which compensatory damages because of
"personal injury" or "property damage" to which this insurance applies are
alleged. "Action" includes an arbitration proceeding alleging such damages to
which "you" must submit or submit with our consent.
"Business" means any continuous or regular pursuit undertaken for financial
gain including a trade, profession, occupation (excluding farming), commercial
enterprise, or other enterprises in which "you" have a financial interest.
"Business Property" means property on which a "business" is conducted,
property rented in whole or in part to others, or held for rental.
"Farming" means ownership, maintenance or use of premises for the production
of crops or the raising or care of livestock, including all necessary operations.
Farming also includes the operation of roadside stands and farm markets
maintained principally for the sale of the "Insured's" farm products.
any equipment or device designed or used for:
"Occurrence" means an accident, including continuous or repeated exposure to
substantially the same general harmful conditions, which result during the
policy period in "personal injury" or "property damage".
a.
separating the isotopes of plutonium, thorium and
uranium or any one or more of them,
"Personal Injury" means:
b.
processing or utilizing spent fuel, or
c.
handling, processing or packaging waste,
any equipment or device used for the processing,
fabricating or alloying of plutonium, thorium or uranium
enriched in the isotope uranium 233 or in the isotope
uranium 235, or any one or more of them if at any time
the total amount of such material in the custody of the
"Insured" at the premises where such equipment or
device is located consists of or contains more than 25
grams of plutonium or uranium 233 or any combination
thereof, or more than 250 grams of uranium 235,
any structure, basin, excavation, premises or place
prepared or used for the storage or disposal of waste
"radioactive material".
And includes the site on which any of the foregoing is located,
together with all operations conducted thereon and all premises
used for such operations.
a.
bodily injury, mental injury, mental anguish, shock, sickness, disease,
disability, including death resulting therefrom;
b.
false arrest, detention or imprisonment;
c.
malicious prosecution:
d.
wrongful entry into, or eviction of a person from, a room, dwelling or
premises that the person occupies;
e.
oral or written publication of material that slanders or libels a person or
organization or disparages a person's or organization's goods, products or
services;
f.
oral or written publication of material that violates a person's right of
privacy.
"Pollutants" means any solid, liquid gaseous or thermal irritant or, contaminant,
including smoke, odour, vapour, soot, fumes, acids, alkalis, chemicals and waste.
Waste includes materials to be recycled, reconditioned or reclaimed.
"Products-completed operations hazard" includes all "personal injury" and
"property damage" occurring away from premises "you" own or rent and arising,
out of "your product" or "your work" except:
a.
products that are still in "your" physical possession: or
b.
work that has not yet been completed or abandoned.
"Your work" will be deemed completed at the earliest of the following times:
a.
when all of the work called for in "your" contract has been completed;
b.
when all of the work to be done at the site has been completed if "your"
contract calls for work at more than one site;
c.
when that part of work done at a job site has been put to its intended use
by any person or organization other than another contractor or subcontractor working on the same project.
ii.
iii.
b.
others trading under "your" name; or
a person or organization whose business or assets "you" have
acquired; and
containers (other than vehicles), materials, parts or equipment furnished in
connection with such goods or products.
"Your product" includes warranties or representations made at any time with
respect to the fitness, quality, durability, or performance of the items included in
a. and b. above.
"Your product" does not include vending machines or other property rented to
or located for the use of others but not sold.
Work that may need service, maintenance, correction, repair or replacement, but
which is otherwise complete, will be treated as completed.
"Your work" means:
This hazard does not include "personal injury" or "property damage" arising out
of the existence of tools, uninstalled equipment, or abandoned or unused
materials.
a.
work or operations performed by "you" or on "your" behalf, and
b.
materials, parts or equipment furnished in connection with such work or
operations.
"Property Damage" means physical damage to or destruction of or the resultant
loss of use of tangible property.
"Recreational Vehicle" means a land motor vehicle, amphibious vehicle, or aircushioned vehicle not subject to motor vehicle registration laws for public road
use and which is designed for recreational use off public roads.
"Your work" includes warranties or representations made at any time with
respect to the fitness, quality, durability, or performance of any of the items
included in a. or b. above.
Conditions
1.
"Residence employee" means "your" employee whose duties are exclusively in
connection with the maintenance or use of the residence premises, including the
performance of household or domestic services, or who performs elsewhere
duties of a similar nature not in connection with any "Insured's" "business"
pursuits.
"Residence employee" also includes any person engaged in farm related work
on "your behalf in a neighbourly exchange of assistance for which "you" are not
obligated to pay any money.
2.
"Self-Insured Retention" means, for each "occurrence", the dollar amount on the
Declarations Page if there is no underlying insurance.
"Ultimate Net Loss" means the total of all sums "you" are legally responsible to
pay as damages, whether resulting from a decision by a court of Law or by a
compromise with our consent, less all collectible recoveries or salvage.
Notice of Accident or Occurrence. When an accident or occurrence first
takes place and it appears that it is reasonably likely to involve "us",
written notice must be sent to "us" promptly. This notice must include:
a.
"your" name and policy number;
b.
the time, place and circumstances of the accident;
c.
the names and addresses of witnesses and potential claimants.
Co-Operation. Except for "occurrences" not covered by "your" underlying
policies, "we" shall not be called upon to assume charge of the settlement or
defence of any claim made or lawsuit brought or instituted against "You",
but "we" have the right and must be given the opportunity to associate with
"you" in the defence and control of any claim, lawsuit or proceeding likely
to involve "us". "You" are required to:
a.
help "us" obtain witnesses, information and evidence about the
accident or "occurrence" and cooperate with "us" in any "action" if
"we" ask "you";
b.
immediately send "us" copies of everything received in writing
concerning the accident or "occurrence" including legal documents.
The following are not included in this definition:
a.
the cost to investigate or settle any claim, including legal fees court costs
and interest on any judgement or award;
b.
any office expenses;
c.
all salaries of employees.
3.
Appeals. In the event "you" and the underlying Insurer elect not to appeal
a judgement in excess of the underlying insurance. "We" may elect to make
such an appeal at our cost and expense, and shall be liable for the taxable
costs and disbursements and interest incidental thereto, but in no event
shall our liability for "Ultimate Net Loss" exceed the limit specified under
Limit of Liability on the Declarations Page for any one "occurrence".
4.
Action Against Us. No action shall lie against "us" unless, as a condition
precedent thereto, "you" have fully complied with all the terms of this
policy, nor until the amount or "Your" obligation to pay has been fully
determined either by judgement against "you" after an actual trial or by
written agreement between "you", the claimant and "us". Any person or
organization, or the legal representative thereof, who has secured such
judgement or written agreement shall thereafter be entitled to recover
under this policy to the extent of the insurance afforded by this policy.
Nothing contained in this policy shall give any person or organization any
right to join "us" as a codefendant in any action against "you" to determine
"your" liability.
5.
Bankruptcy or Insolvency. "Your" bankruptcy or insolvency or that of
"your" estate shall not relieve "us" of any of "your" obligations hereunder.
6.
Canadian Currency Clause. All limits of liability, premiums and other
amounts expressed in this policy are in Canadian currency.
7.
Other Insurance. If other collectible insurance with any other Insurer is
available to "you" covering a loss also covered by this policy (except
insurance specifically purchased and rated to be in excess of this policy),
the insurance provided by this policy shall be in excess of and not
contribute with such other insurance.
8.
Subrogation. "We" shall be subrogated to the extent of any `payment
hereunder to all "your" rights of recovery therefore, and "you" shall do
everything necessary to secure such rights. "You" shall do nothing after a
loss to prejudice such rights.
9.
Changes. Notice to or knowledge of any Broker, Agent or other person
shall not effect a waiver or change any part of this policy nor stop "us" from
asserting any right under it. The terms of this policy cannot be waived or
changed except by an endorsement issued by "us".
10.
Assignments. Assignment of interest under this policy shall not bind "us"
unless and until our consent is endorsed hereon. However, if "you" should
"Underlying Limit" means the required minimum insurance coverage shown on
the Declarations Page. It also includes any general or replacement policies or
new policies for new acquisitions providing the required minimum is
maintained.
"We" or "Us" mean the company providing this insurance.
"You" or "Your" or "Insured" or "Named Insured" means the person(s) named in
the Declarations and, while living in the same household, his or her husband or
wife, the relatives of either or any person under 21 in their care. Husband and
wife includes a man and a woman who are living to either continuously for a
period of 3 years or, if a child was born of their union, for a period of 1 year.
Only the person(s) named in the Declarations may take action against "us".
In addition, if coverage is provided by the underlying insurance listed on the
Declarations Page the following persons are insured:
a.
any person or organization legally liable for damages caused by a
watercraft or animal owned by "you", and to which this insurance applies.
This does not include anyone using or having custody of the watercraft or
animal in the course of any "business" or without the owner's permission;
b.
a "residence employee" while performing duties in connection with the
ownership, use or operation of motorized vehicles and trailers for which
coverage is provided in this form;
c.
"your" legal representative having temporary custody of the insured
premises, if "you" die while insured by this form, for legal liability arising
out of the insured premises;
d.
any person who is insured by this form at the time of "your" death and
who continues residing on the insured premises;
e.
a student who is enrolled in and actually attends a school, college or
university and is dependent on "you" for support and maintenance is also
insured even if temporarily residing away from the principal residence.
"Your product" means:
a.
any goods or products, other than real property, manufactured, sold,
handled, distributed, or disposed of by:
i.
"you";
11.
12.
die, such insurance as is afforded hereunder shall apply (1) to "your" legal
representative but only while acting within the scope of his or her duties as
such and (2) with respect to "your" property, to the person having proper
temporary custody thereof as Insured, but only until the appointment and
qualification of the legal representative.
excess of the limit(s) of the first loss insurance and the underlying excess
insurance for loss or damage arising from the ownership, use, or operation of the
automobile(s) covered under such first loss insurance and the underlying excess
insurance resulting from Bodily Injury to or Death of any Person or Damage to
Property.
Maintenance of Underlying Insurance. Each policy referred to in the
Underlying Insurance on the Declarations Page, including any renewal or
replacement thereof shall be maintained without alteration of terms or
conditions in full effect during the term of this policy. Failure by "you" to
comply with the foregoing shall not invalidate this policy, but in the event
of such failure "we" shall only be liable to the same extent as "we" would
have been had "you" maintained the underlying insurance.
Special Provisions
Cancellation. This policy may be cancelled by "you" at any time upon
request by surrender of the policy to "us" or to any of our authorized
brokers, or by mailing to "us" written notice stating when such cancellation
shall be effective.
This policy may be cancelled by "us" by giving to "you" at the address
shown on this policy fifteen (15) days' notice of cancellation by registered
mail, or five (5) days' written notice of cancellation personally delivered.
Proof of mailing will be sufficient proof of notice.
If "you" cancel, earned premium shall be computed in accordance with the
customary short rate table and procedure. If "we" cancel, earned premium
shall be computed pro rata. Premium adjustment may be made at the time
cancellation is effected or as soon as practicable thereafter. Our refund
cheque will be mailed to you at your last known mailing address.
13.
Liberalization. If a broadening of coverage without any additional
premium charge occurs during the policy period or within forty-five (45)
days' prior to "your" policy effective date, "you" will automatically benefit
from the improved coverage.
15.
Conformity with Provincial Statutes. Any provision of this policy which,
on its effective date, is in conflict with the statutes of the province in which
"you" maintain "your" principal residence on such date is hereby amended
to conform to the requirements of such statutes.
The Excess Insurer's "Ultimate Net Loss" liability shall not exceed the limit
stated in the Umbrella Liability Declaration in excess of the limit(s) of the
first loss policy, and the underlying excess policy(ies) stated in the
Schedule of Underlying Insurance Policies thereof, or such amount as the
First loss Insurer and the underlying Excess Insurer shall be liable to pay
under statute, whichever is the greater.
The words "Ultimate Net Loss" used in this policy mean the amount
payable in settlement of the liability of the "Insured" after making
deductions for all recoveries and for other valid and collectible insurances
excepting the first loss and underlying policy(ies) and shall exclude all
expenses and costs.
2.
The word "costs" used in this policy means interest accruing after entry of
judgement upon that part of the judgement which is within the limit of the
Excess Insurer's liability, investigation, adjustment and legal expenses,
excluding, however, all office expenses of the "Insured", all expenses of
salaried employees of the "Insured" and general retainer fees for counsel
normally paid by the "Insured".
3.
The Excess Insurer agrees to pay costs incurred by or on behalf of the
"Insured" where these costs are not covered by the first loss or underlying
excess policy(ies), on the following basis:
Severability of Interests. The words "you" and "your" in this policy refer
to each of the persons insured by this policy severally and not collectively.
However, the inclusion in this policy of more than one person insured shall
not operate to increase our limits of liability.
14.
16.
1.
a.
should any claim or claims become adjustable prior to the commencement of trial for not more than the first loss and underlying excess
policy limit(s) then no costs shall be payable by the Excess Insurer.
b.
should, however, the amount for which said claim or claims may be
so adjustable exceed the first loss and underlying excess policy(ies)
limit(s), then the Excess Insurer shall contribute to the costs incurred
on behalf of the "Insured" in the ratio that the Excess Insurer's
proportion of the "Ultimate Net Loss" as finally adjusted bears to the
whole amount of such "Ultimate Net Loss";
c.
in the event that the "Insured" or the Insurer under the first loss
policy elects not to appeal a judgement in excess of the limit(s) of the
first loss and underlying excess policy(ies), the Excess Insurer may
elect to conduct such appeal and shall be liable for the taxable costs
and interest incidental thereto; but in no event shall the total liability
of the Excess Insurer exceed the limit of liability stated in the
Umbrella Liability Declaration, plus the expense of such appeal.
Prior Insurance and Non-Cumulation of Liability. If any loss covered
hereunder is also covered in whole or in part under any other excess policy
issued to "you" prior to the inception date hereof, the limit of liability
shown on the "Declaration Page" shall be excess of any amounts due to
"you" on account of such loss under such prior insurance.
Excess Automobile Policy - SPF No. 7/OPCF No. 7
4.
All recoveries or payments recovered or received subsequent to a loss
settlement under this policy shall be applied as if recovered or received
prior to such settlement and all necessary adjustments shall then be made
between the "Insured" and the Excess Insurer, provided always that
nothing in this policy shall be construed to mean that losses under this
policy are not payable until the "Insured's" "Ultimate Net Loss" has finally
been ascertained.
5.
Liability to pay under this policy shall not attach unless and until the first
loss and underlying Excess Insurer(s) shall have admitted liability for the
first loss and underlying excess limit(s) or unless and until the "Insured"
has by final judgement been adjudged to pay an amount which exceeds
such first loss and underlying excess limit(s) and then only after the first
loss and underlying Excess Insurer(s) has/have paid or has/have been
held liable to pay the full amount of the first loss and underlying excess
limit(s).
6.
Neither the inclusion of more than one entity in the name of the "Insured"
nor the addition of any additional Insureds under this policy shall in any
way operate to increase the limit of liability set forth in the Umbrella
Liability Declarations.
7.
Notwithstanding Statutory Condition 3(1) contained in the first loss policy,
the "Insured" is only required to give the Excess Insurer notice of any
accident if the claim or claims possibly arising therefrom appear likely to
exceed the first loss insurance, in which case immediate written notice
thereof must be given to the person or firm as set out in Item 7 of the
application.
8.
a.
Attached to and forming part of this personal umbrella liability policy.
WHEREAS an application has been made by the applicant (hereinafter called the
"Insured") to the Excess Insurer for a contract of excess automobile insurance and
the said application forms part of this contract and is as follows:
Application
Item 1.
"Named Insured", occupation and address, is as set out in the policy
declarations.
Item 2.
Policy period is as set out in the policy declarations.
Item 3.
The "Insured" is warned that by statute this excess contract
automatically terminates concurrently with the termination of any
policy as set out in the policy declarations.
Item 4.
This application is for excess insurance against legal liability for
bodily injury or death or damage to property of others upon the
terms and conditions of the Excess Insurer's standard policy form for
excess insurance and for the specified limits as set out in the
Umbrella Liability Declaration.
Item 5.
a.
Description of first loss motor vehicle liability insurance;
b.
Description of underlying excess insurance(s) if any as per the
Umbrella Liability Declarations.
Item 6.
Premium $ included.
Item 7.
Claims must be reported to the agent or the Insurer. Refer to special
provisions 7 and 9 of this policy.
NOW, THEREFORE, IN CONSIDERATION of the payment of the premium
specified and of the statements contained in the application and subject to the
limits, special provisions and conditions herein stated and subject, insofar as
applicable, to the terms, conditions, general provisions, definitions and
exclusions set forth in the first loss policy described in the Umbrella Policy
Declaration, which said terms, conditions, general provisions, definitions and
exclusions are by reference incorporated herein, the Excess Insurer agrees to
indemnify the "Insured" under the first loss motor vehicle liability insurance
against liability imposed by law upon the "Insured" for an amount or amounts in
b.
This Policy may be terminated:
i.
by the Excess Insurer giving to the "Insured" fifteen (15) days'
notice of termination by registered mail, or five (5) days' written
notice of termination personally delivered; or
ii.
by the "Insured" at any time on request.
Where this policy is terminated by the Excess Insurer:
i.
the Excess Insurer shall refund the excess of premium actually
paid by the "Insured" over the pro rata premium for the expired
time, but in no event shall the pro rata premium for the expired
time be deemed to be less than any minimum retained
premium specified; and
ii.
c.
f.
the refund shall accompany the notice unless the premium is
subject to adjustment or determination as to amount, in which
case the refund shall be made as soon as practicable.
Where this policy is terminated by the "Insured", the Excess Insurer
shall refund as soon as practicable the excess of premium actually
paid by the "Insured" over the short rate premium for the expired
time, but in no event shall the short rate premium for the expired
time be deemed to be less than any minimum retained premium
specified.
d.
The refund may be made by money, postal or express company
money order, or by cheque payable at par.
e.
The fifteen (15) days as set out in clause i. of sub-condition a. of this
condition commences to run on the day following the receipt of the
registered letter at the post office to which it is addressed.
9.
Nothing in this special provision shall in any way affect the operation
of the statutory provision in The Insurance Act providing that where
the contract terminates or is terminated, the excess contract is
automatically terminated. In the event that this policy is automatically terminated, the Excess Insurer agrees to refund the excess
of premium actually paid over the pro rata premium for the expired
term (subject to any minimum retained premium specified) as soon
as practicable, but if there is any pro rata premium unpaid, the
"Insured" agrees to pay this.
Any written notice to the Excess Insurer may be delivered at, or sent by
registered mail to the chief agency or head office of the Excess Insurer in
this province. Written notice may be given to the "Insured" named in this
policy by letter personally delivered to him or by registered mail addressed
to him at his latest post office address notified to the Excess Insurer. In this
condition the expression "registered" means registered in or outside
Canada.
03/03