# ASPEN INSURANCE LIMITED

## THE BERMUDA SHORT FORM

but liability shall attach to the Company only after the Underlying Policy(ies) have paid or have been held liable to pay the full amount of their respective Limit(s) of Liability as follows:

USD (as stated in Item 6.a) of the Declarations) in respect of each Occurrence, Claim or Loss but USD (as stated in Item 6.b) of the Declarations) in the aggregate during the currency of this Policy, separately in respect of each hazard insured with an aggregate limit in the Followed Policy which in turn is excess of various insurances and/or retentions as more fully set forth in the Followed Policy.

### CONDITIONS:

1. **MAINTENANCE OF UNDERLYING INSURANCE -**

It is a condition of this Policy that the Underlying Policy(ies) shall be maintained in full force and effect, except for any reduction of the aggregate limits contained therein solely by payment by Underlying Policy(ies) of any loss(es) covered by this Policy. In the event of the Insured's failure to maintain the Underlying Policy(ies) in full force and effect and except with respect to the aforementioned aggregate reduction, coverage hereunder shall not be invalid, but shall apply to the same extent that it would have applied had there been compliance with this condition.

In the event any Underlying Policy(ies) excludes loss(es) which are covered by the Followed Policy and subsequently covered hereunder in accordance with the provisions of Insuring Agreement 1 - Coverage, the Company shall not drop down to apply in place of such excluded coverage.

2. **ASSISTANCE AND CO-OPERATION -**

The Company shall not be called upon to assume charge of the settlement or defense of any claim made or suit brought or proceeding instituted against the Insured however the Company shall have the right and shall be given the opportunity to associate with the Insured or the Insured's underlying insurers, or both, in the defense and control of any claim, suit or proceeding relative to an Occurrence, Claim or Loss where the claim or suit involves, or appears reasonably likely to involve the Company, in which event the Insured and the Company shall co-operate in all things in the defense of such claim, suit or proceeding.