RH2 12/21/2017 - Laserfiche WebLink

(b) A proportion of your original (3) Otherwise, actual cash value cost if you do not make re- means the market value of new, pairs within a reasonable identical or nearly identical prop- time after loss. We will de- erty less reasonable deduction termine the proportionate for wear and tear, deterioration value as follows: and obsolescence. (i) Multiply the original b. The word "vehicles", as used in Sec- cost by the number of tion I - Property, means vehicles run- days from the loss or ning on land or tracks, but not air- damage to the expira- craft. tion of the lease; and B. Section II -Liability is amended as follows: (ii) Divide the amount de- 1. Paragraph B.1.e. Employer's Liability termined in (i) above by Exclusion applies only to "bodily injury" the number of days to "employees" of the insured whose from the installation of employment is not subject to the Indus- improvements to the trial Insurance Act of Washington (Wash- expiration of the lease. ington Revised Code Title 51). If your lease contains a re- With respect to "bodily injury" to "em- newel option, the expiration ployees" of the insured whose of the renewal option period employment is subject to the Industrial will replace the expiration of Insurance Act of Washington, Paragraph the lease in this procedure. B.1.e. Employer's Liability is replaced by (c) Nothing if others pay for re- the following: pairs or replacement. e. Employer's Liability 8. Paragraph F.2. Mortgageholders Proper- (1) "Bodily injury" to an "employ- ty General Condition is replaced by the ee" of the insured arising out of following: and in the course of: 2. Mortgageholders (a) Employment by the insured; Insurance Commissioner's Regulation or No. 335/WAC284-21-010 requires that (b) Performing duties related to Form 372 (Ed. 11-50) or Form 438 BFU the conduct of the insured's (Ed. 5-42) be endorsed on this Policy to business. replace the Mortgageholders Property (2) Any obligation to share damages General Condition. with or repay someone else who 9. The following is added to Section I - must pay damages because of Property: the injury. a. The term actual cash value means: This exclusion does not apply to li- (1) When the damage to property is ability assumed by the insured under economically repairable, actual an "insured contract". cash value means the cost of re- 2. Paragraph 2.a.(1) under C. Who Is An In- pairing the damage, less reason- sured applies only to "employees" of the able deduction for wear and tear, insured whose employment is not sub- deterioration and obsolescence. ject to the Industrial Insurance Act of (2) When the loss or damage to Washington (Washington Revised Code property creates a total loss, ac- Title 51). tual cash value means the mar- With respect to "employees" of the in- ket value of property in a used sured whose employment is subject to condition equal to that of the de- the Industrial Insurance Act of Washing- stroyed property, if reasonably ton, Paragraph C.2.a.(1) is replaced by the available on the used market. following: (1) "Bodily injury" or "personal injury": BP 01 06 03 15 © Insurance Services Office, Inc., 2014 Page 5 of 8