# National Liability & Fire Insurance Company

3024 Hamey Street
Omaha, NE 68131
(Hereinafter referred to as the Insurer)

**Follow Form Excess Liability Policy**

## SECTION I – COVERAGE

A. The Insurer will pay on behalf of the Insured that portion of the loss that the Insured becomes legally obligated to pay as damages by reason of exhaustion of all applicable underlying limits whether collectible or not, as specified in Item 4. of the Declarations Page.

1. The Insurer agrees that except as may otherwise be endorsed to this Policy, this Policy will follow:
   i. The same terms, warranties, definitions, exclusions, conditions and limitations as are, at inception of this policy, contained in or attached to the "Followed Underlying Policy(ies)",
   ii. All subsequent changes made to the terms, warranties, definitions, exclusions, conditions and limitations of the "Followed Underlying Policy(ies)" that do not broaden the scope of the coverage already provided, and
   iii. All additional Insured and/or additional Named Insured changes subsequently endorsed on the "Followed Underlying Policy(ies)" that are not subject to an additional premium charge.
2. Notwithstanding the foregoing, the following changes to the "Followed Underlying Policy(ies)" made after inception date of this policy will not be binding upon the Insurer unless agreed in writing by the Insurer:
   i. any change that is subject to an additional premium charge, or
   ii. the inclusion of an additional coverage extension endorsement, or
   iii. any change to the terms, warranties, definitions, exclusions, conditions and limitations that broadens the scope of coverage already provided, except to the extent stated in 1.iii. above.
B. It is, however, specifically agreed that if any of the "Underlying Policies" stated in Item 4. a. of the Declarations Page exclude any part of the coverage provided by the "Followed Underlying Policy(ies)" stated in Item 4.b. of the Declarations Page, then this Policy shall not drop down to apply in the place of such excluded coverage and the Insured shall be considered as a self-insurer to the extent that there is no other available insurance to cover the deficit.
C. If coverage for a loss under this policy is in violation of any United States of America economic or trade sanction, including, but not limited to, sanctions administered and enforced by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") then coverage for that loss under this policy shall be null and void.

## SECTION II – LIMITS OF LIABILITY

A. Where an amount is shown for the aggregate limit of liability in Item 3 of the Declarations Page of this Policy, the amount stated is the most we will pay for all damages covered under this Policy with respect to coverage subject to an aggregate limit of liability in the "Followed Underlying Policy(ies)". The aggregate limit(s) of liability under this Policy apply in the same manner as the aggregate limit(s) of liability in the "Followed Underlying Policy(ies)".
B. Subject to A. above, the per occurrence, per claim, or per loss limit of liability stated in Item 3 of the Declarations Page of this Policy is the most the insurer will pay for all damages arising out of any one occurrence, claim or loss as utilized in the "Followed Underlying Policy(ies)".
C. Defense costs and expenses will erode the limits of liability of this policy if they erode the limits of liability of the "Followed Underlying Policy(ies)". Defense costs and expenses will not erode the limits of liability of this policy if they do not erode the limits of liability of the "Followed Underlying Policy(ies)".

## SECTION III – RETENTION

A. The limits of liability stated in Item 3. of the Declarations Page of this Policy apply in excess of:
1. The total of the limits of liability of the "Scheduled Underlying Insurance" applicable on a per occurrence, per claim or per loss basis, but in no event in an amount less than the total of the