# EXCESS OVERLAYER INDEMNITY POLICY

## ASBESTOS EXCLUSION

It is agreed that this policy does not apply to EXCESS NET LOSS arising out of asbestos, including but not limited to bodily injury arising out of asbestosis or related diseases or to property damage.

It is further agreed that if the liability excluded by the endorsement is covered under any underlying insurance, such liability will not be deemed to be covered by such underlying insurance in determining whether any underlying aggregate limit of liability has been exhausted but rather shall be a self-insured retention which the NAMED INSURED must pay before this policy responds.