# THE CHUBB COMMERCIAL EXCESS

## Policy Notice

**Policy Period:** MAY 21, 1997 to MAY 21, 1998  
**Effective Date:** May 21, 1997  
**Policy Number:** (98) 7966-56-84 CAS  
**Insured:** INTERNATIONAL BUSINESS MACHINES CORP., ETAL (AS PER CONTROLLING U/L INSURANCE)  
**Name of Company:** VIGILANT INSURANCE COMPANY  
**Date Issued:** June 5, 1997  

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**THIS NOTICE IS NOT YOUR POLICY. IT MERELY DESCRIBES SOME OF THE MAJOR FEATURES OF OUR REVISED COMMERCIAL EXCESS POLICY FOR N.Y. FORM #07-02-1022 (ED. 5/94). READ YOUR POLICY CAREFULLY TO DETERMINE RIGHTS, DUTIES, AND WHAT IS AND WHAT IS NOT COVERED. ONLY THE PROVISIONS OF YOUR POLICY DETERMINE THE SCOPE OF YOUR INSURANCE PROTECTION.**

### Policyholder Notice

Summary of changes from the 1986 Commercial Excess Liability policy 07-02-0574 (Rev. 11/86). This summary is intended only to describe the changes and features of the basic policy. It does not address endorsements attached to the policy which may restrict coverage. It is important that you read your policy and endorsements as issued.

### Overall Policy

The new Commercial Excess policy is written in updated, simplified policy language.

The policy continues to provide coverage that is follow form to the controlling underlying insurance policy and excess of the underlying limits of insurance. Provisions which require all underlying insurance policies to pay loss were eliminated.

The references to claims-made were eliminated from the contract. To provide flexibility in coverage and better responsiveness to the needs of our insureds, we have developed amendatory endorsements to allow scheduling of underlying coverages (professional liability and others) which may be written on a claims-made basis.

The policy continues to pay on behalf of the insured where legally acceptable.

### Defense Provisions

The policy continues to give the company the right and the duty to defend any claims or suits when the limits of underlying insurance have been exhausted.