# EXCESS UMBRELLA POLICY

**NAMED ASSURED:** As stated in Item 1 of the Declarations forming a part hereof and/or subsidiary, associated, affiliated companies or owned and controlled companies as new or hereafter constituted and of which prompt notice has been given to the Company.

## INSURING AGREEMENTS

### 1. COVERAGE

The Company hereby agrees, subject to the limitations, terms and conditions hereinafter mentioned, to indemnify the Assured for all sums which the Assured shall be obliged to pay by reason of the liability.

- (a) Imposed upon the Assured by law, or
- (b) Assumed under contract or agreement by the Named Assured and/or any officer director, stockholder, partner or employee of the Named Assured, while acting in his capacity as such,

for damage, direct or consequential and expenses on account of:
- (i) Personal Injuries, including death at any time resulting therefrom,
- (ii) Property Damage,
- (iii) Advertising Liability.

Caused by or arising out of each occurrence happening anywhere in the world, and arising out of the hazards covered by and as defined in the Underlying Umbrella Policies stated in Item 2 of the Declarations and issued by the "Underlying Umbrella Insurers".

### II. LIMIT OF LIABILITY - UNDERLYING LIMITS

It is expressly agreed that liability shall attach to the Company only after the Underlying Umbrella Insurers have paid or have been held liable to pay the full amount of their respective ultimate net loss liability as follows:

- $ (as stated in Item 3 of the Declarations)
  - Ultimate net loss in respect of each occurrence, but
- $ (as stated in Item 4 of the Declarations)
  - in the aggregate for each annual period during the currency of this Policy separately in respect of Products Liability and separately in respect of Personal Injury (fatal or non-fatal) by Occupational Disease sustained by any employees of the Assured.

and the Company shall then be liable to pay only the excess thereof up to a further