# EXCESS LIABILITY INSURANCE POLICY

Various provisions in this Policy restrict coverage. Read the entire Policy carefully to determine rights, duties and what is and is not covered.

Throughout this Policy the words "you" and "your" refer to the Named Insured shown in the Declarations, and any other person or organization qualifying as a Named Insured under this Policy. The words "we", "us" and "our" refer to the company providing this insurance.

The word "insured" means any person or organization qualifying as such under the "controlling underlying insurance". Other words and phrases that appear in quotation marks have special meaning. Refer to SECTION V - DEFINITIONS.

## SECTION I - INSURING AGREEMENT

Except for the terms, conditions, definitions and exclusions of this Policy, the coverage provided by this Policy will follow the "controlling underlying insurance".

We will pay on behalf of the insured "loss" in excess of the "underlying limits of insurance" shown in the Schedule of Underlying Insurance. If we are prevented by law or statute from paying on behalf of an insured, then where permitted by law or statute, we will indemnify the insured for those sums in excess of the "underlying limits of insurance".

If any "underlying insurance" contains a limitation, condition, exclusion or restriction of coverage not contained in the "controlling underlying insurance" then this Policy will follow form to such limitation, condition, exclusion or restriction of coverage. In no event will this Policy provide broader coverage in any respect than is provided in any "underlying insurance".

## SECTION II - LIMITS OF INSURANCE

The Limits of Insurance shown in the Declarations shall apply in an identical manner to the "controlling underlying insurance", except as follows:

A. This Policy applies only in excess of the "underlying limits of insurance" shown in the Schedule of Underlying Insurance.

B. The Each Occurrence limit stated in the Declarations is the most we will pay for all "loss" arising out of any one occurrence to which this Policy applies.

C. The Aggregate Limit shown in the Declarations is the most we will pay for all "loss" that is subject to an aggregate limit provided by the "controlling underlying insurance", except:

1. If all "Underlying Insurance" contains an identical per project aggregate limit provision, then the Aggregate Limit will apply per project; or
2. If all "Underlying Insurance" contains an identical per location aggregate limit provision, then the Aggregate Limit will apply per location.

D. This Policy will not apply to any portion of a "loss" or any defense costs and expenses that are within any of the following:
1. the "underlying limits of insurance";
2. any deductible or retention which is included as part of the "underlying limits of insurance";

EXU 0001 (Ed. 05/16)