2006/05/24 Council Agenda Packet

04/13/2006 THU 9: 06 FAX 0006/006 6 OTHER INSURANCE UNINTENTIONAL FAILURE TO DISCLOSE ALL HAZARDS The first paragraph of Other Insurance of SECTION IV -- COMMERCIAL GENERAL LIABILITY CON- The following is added to Paragraph 6. Representa- AITION$is replaced with the following: Lions of SECTION iV — COMMERCIAL GENERAL LIABILITY CONDiTIONS: If other valid and collectible insurance, or any self-In- sured retention, is available to the insured for a loss if you unintentionally fell to disclose any hazards ax- we cover under COVERAGE A or B of this Coverage !sting at the inception date of your policy, we will not part, our obligations are limited as follows: deny coverage under this Coverage Form because of such failure. However, this provision does not affect METHOD OF SHAFtir{O our right to collect additional premium or exercise our right of cancellation or non-renewal. The second paragraph of Method of sharing of SEC- TION IV .-- COMMERCIAL GENERAL LIABILITY LIBERALIZATION CLAUSE CONDITIONS Is replaced with the following: The following paragraph is added to SECTION IV — if any of the other insurance does not permit contri- COMMERCIAL GENERAL LIABILITY CONDt- bution by equal shares or Is subject to a self-insured TIONS: retention, we will contribute by limits. Under this method, each insurer's share is based on the ratio of 10. If a revision to this Coverage Part, which would more coverage with no additional its applicable limit of Insurance or self-Insured re- provideremium, becomes the policy tendon or both combined to the total applicable limits premium, in the state shown effective the during the lacy of insurance of all insurers and the amount of any period ns, self-insured retention. your policy will automatically provide this addi- tional coverage on the effective date of the re- vision. • • 36