# FOLLOWING FORM EXCESS LIABILITY POLICY

**THIS POLICY PROVIDES FOLLOWING FORM COVERAGE AND WILL BE CLAIMS MADE WHEN FOLLOWING CLAIMS MADE "CONTROLLING UNDERLYING POLICIES."**

**THE TRAVELERS INDEMNITY COMPANY**
Hartford, Connecticut

**(A Stock Insurance Company, Herein referred to as "we," "us" or "our")**

Agrees with the insured, named in the declarations made a part hereof, in consideration of the payment of the premium and in reliance upon the statements in the declarations and subject to all the terms of this policy. Words and phrases that appear in quotation marks have special meaning. Refer to Provision 8 – DEFINITIONS.

## 1. INSURING AGREEMENT

To indemnify the insured for "loss" which is in excess of the total of all of the limits shown on the declarations for the 'underlying policies' and which arises out of injury or damage as covered and defined in the liability coverages of the 'controlling underlying policies'; but we shall have no obligation for "loss" exceeding the limit(s) described in Item 4 of the Declarations and in Provision 6 of this policy.

## 2. APPLICATION OF THE "CONTROLLING UNDERLYING POLICIES":

Except for subjects specifically covered in these provisions, this policy is subject to all of the definitions, conditions, agreements, exclusions and limitations of the "controlling underlying policies."

## 3. MAINTENANCE OF "UNDERLYING POLICIES":

The insured shall maintain all of the "underlying policies" in full effect during the term of this policy except as described in Provision 4 below. The failure of the insured to comply with this requirement shall not invalidate this policy, but we shall be liable hereunder only to the same extent as if the insured had fully complied with this condition. Should any such policy be replaced, renewed or endorsed, the change shall be promptly reported to us. The insured named on the declarations shall, upon request, furnish us with copies of these changes and have available for review such records as are necessary to the subject matter of this insurance.

## 4. COVERAGE OVER AGGREGATE LIMIT:

This policy shall apply in excess of a reduced or exhausted aggregate limit of liability but only if that particular limit is subject to an aggregate in a "controlling underlying policy" and Item 6 of the Declarations shows this coverage as applicable.

## 5. LOSS PAYABLE:

Subject to Provisions 3 and 4, Liability under this policy shall not attach unless and until the "underlying policies" have paid or are obligated to pay the full total of all of the limits of the "underlying policies." When the amount of such "loss" has been finally determined, we shall indemnify the insured as soon as is practicable. We shall not require the insured to pay such "loss" prior to our indemnification.

## 6. LIMITS OF LIABILITY:

The company's limits of liability under the policy are as follows:

a. If this policy is not designated in the declarations under Item 4 as a Quota Share Policy, the limit of liability stated in Item 4a. of the declarations as applicable to each accident or occurrence is the total limit of our liability for all "loss" as a result of one accident or occurrence.

b. If this policy is designated in the declarations as a Quota Share Policy, the limit of our liability for all "loss" as a result of one accident or occurrence shall be the percentage, stated in the declarations, of the amount for which the insured is liable in excess of the limits of the "underlying policies" or the amount stated in Item 4a. of the declarations, whichever is less.

c. Subject to the above provision respecting each accident or occurrence, the limit of liability, if any, stated in Item 4b. of the declarations as "aggregate" is the total limit of our liability for "loss" under this policy for coverage that is subject to an aggregate or a