D.K. Systems Inc. 10/25/2022 - Laserfiche WebLink

c. Majority interest of more than 50% as an c. Past partnership, joint venture or limited owner of a newly acquired or formed liability company; limited liability company; that is not shown as a Named Insured in the will qualify as a Named Insured if there is no Declarations. other similar insurance available to that I. NON-OWNED WATERCRAFT organization. However, for these organizations: Subparagraph (2) of Exclusion 2.g. Aircraft, (I) Coverage under this provision is afforded Auto Or Watercraft of Section I—Coverage A— onlyuntil the next anniversary date of this Bodily injury And Property Damage Liability is policy's effective date after you acquire or deleted and replaced by the following: form the organization, partnership or (2) A watercraft you do not own that is: limited liability company,or the end of the (a) Less than 51 feet long; and policy period,whichever is earlier; (II) Section I—Coverage A—Bodily Injury (b) Not being used to carry persons or And Property Damage Liability does not property for a charge. apply to "bodily injury" or "property J. SUPPLEMENTARY PAYMENTS—INCREASED damage" that occurred before you LIMITS acquired or formed the organization, Section I — Supplementary Payments — partnership or limited liability company; Coverages A And B is changed as follows: (Ill)Section I—Coverage B—Personal And 1. The limit shown in Paragraph 1.b.for the cost Advertising injury Liability does not apply to "personal and advertising injury of bail bonds is changed from$250 to$3,000; arising out of an offense committed before and you acquired or formed the organization, 2. The limit shown in Paragraph 1.d.for loss of partnership or limited liability company; earnings because of time off from work is (Iv)Coverage applies only when operations of changed from$250 a day to$1,000 a day. the newly acquired organization, K. UNINTENTIONAL OMISSION OR partnership or limited liability company are UNINTENTIONAL ERROR IN DISCLOSURE the same or similar to the operations of insureds already covered under this The following provision is added to Paragraph 6. insurance; Representations of Section IV — Commercial General Liability Conditions: (v) Coverage only applies for those limited liability companies who have established However, the unintentional omission of, or a date of formation as recorded within the unintentional error in, any information given or filed state articles of organization, provided by you shall not prejudice your rights certificates of formation or certificates of under this insurance. organization; and This provision does not affect our right to collect (vl)Coverage only applies for those additional premium or to exercise our right of partnerships who have established a date cancellation or non-renewal. of formation as recorded within a written L. WAIVER OF TRANSFER OF RIGHTS OF partnership agreement or partnership RECOVERY AGAINST OTHERS certificate. The following is added to Paragraph 8. Transfer H. WHO IS AN INSURED—AMENDMENT Of Rights Of Recovery Against Others To Us of The last paragraph of Section II — Who Is An Section IV — Commercial General Liability Insured is deleted and replaced by the following: Conditions: No person or organization is an insured with We waive any right of recovery we may have respect to the conduct of any: against any person or organization because of payments we make for injury or damage arising a. Current partnership or limited liability out of your ongoing operations or"your work"and company,unless otherwise provided for under included in the "products-completed operations Paragraph 3. of Section II — Who Is An hazard" when you have agreed in a written Insured; contract or written agreement that any right of b. Current joint venture;or recovery is waived for such person or organization. This waiver applies only to the CL CG 04 92 10 18 Includes copyrighted material of Insurance Services Office, Inc., Page 7 of 8 with its permission