# Page 2 of 5

178241-6-93 NY

## Cancellation

We may cancel this policy by mailing or delivering to the first Named Insured written notice of cancellation at least:

* (a) Thirty (30) days before the effective date of cancellation if we cancel for any reason not included in (b) below.
* (b) Fifteen (15) days before the effective date of cancellation if we cancel for any reason.

Discovery of fraud or material misrepresentation in the obtaining of this policy or in the presentation of a claim thereunder:
* (c) Conviction of a crime arising out of acts increasing the hazard insured against;
* (d) Nonpayment of premium;

We have no duty to take any action whatsoever with respect to any claim or suit seeking damages that would have been subject to that limit had it not been sought within such time period as agreed to between the appropriate insured and us. Absent any such agreement, arrangements for the defense of such suit must be made by the appropriate insured as practicable.

The First Named Insured will reimburse us for expenses we incur in taking those steps we deem appropriate in accordance with paragraph (2)(b) above; the duty of the first Named Insured to reimburse us will begin on:

* (a) The date on which the applicable Limit of Insurance is exhausted, if we sent notice in accordance with paragraph (1) above;
* (b) The date on which we sent notice in accordance with paragraph (2)(a) above, if we did not send notice in accordance with paragraph (1) above.

The exhaustion of any Limit of Insurance of this policy by the payment of judgments or settlements, and the resulting end of our duty to settle any claim of judgment, will not be affected by our failure to comply with any of the provisions contained in Section D: above.

This policy may be cancelled by the Named Insured by the Company or its authorized agents, or by mailing to the Company written notice of any of the conditions of cancellation set forth below:

* (A) This policy may be cancelled by the Named Insured by the Company or its authorized agents, or by mailing to the Company written notice of any of the conditions of cancellation set forth below.
* (B) Cancellation for policies in effect sixty (60) days or less.
* (C) Cancellation when thereafter the cancellation shall be effective.
* (D) Condition A, CANCELLATION, is replaced by the following:

**D. CONDITION A. CANCELLATION**, the second paragraph is deleted.

**C. DEFINITION 1. ULTIMATE NET LOSS**, the second paragraph is deleted.

**D. CONDITION A. CANCELLATION**, is replaced by the following:

* (1) The exhaustion of any Limit of Insurance of this policy by the payment of judgments or settlements, and the resulting end of our duty to settle any claim of judgment, will not be affected by our failure to comply with any of the provisions contained in Section D: above.
* (2) Thirty (30) days before the effective date of cancellation if we cancel for any reason not included in (b) below.
* (3) We may cancel this policy by mailing or delivering to the first Named Insured written notice of cancellation at least:
    * (a) Thirty (30) days before the effective date of cancellation if we cancel for any reason not included in (b) below.
    * (b) Fifteen (15) days before the effective date of cancellation if we cancel for any reason.
* (4) The exhaustion of any Limit of Insurance of this policy by the payment of judgments or settlements, and the resulting end of our duty to settle any claim of judgment, will not be affected by our failure to comply with any of the provisions contained in Section D: above.