BANKRUPTCY OR INSOLVENCY OF THE INSURED OR OF THE INSURED'S ESTATE SHALL NOT RELIEVE THE COMPANY OF ANY OF ITS OBLIGATIONS HEREUNDER.

4. SUBROGATION AND OTHER RECOVERIES

IN THE EVENT OF ANY PAYMENT UNDER THIS POLICY, THE COMPANY SHALL BE SUBROGATED TO ALL THE INSURED'S RIGHTS OF RECOVERY THEREFOR AGAINST ANY PERSON OR ORGANIZATION AND THE INSURED SHALL EXECUTE AND DELIVER INSTRUMENTS AND PAPERS AND DO WHATEVER ELSE IS NECESSARY TO SECURE SUCH RIGHTS. THE INSURED SHALL DO NOTHING AFTER THE OCCURRENCE TO PREJUDICE SUCH RIGHTS.

BECAUSE THIS POLICY AFFORDS EXCESS COVERAGE, THE INSURED'S RIGHT OF RECOVERY CANNOT ALWAYS BE EXCLUSIVELY SUBROGATED TO THE COMPANY. IT IS, THEREFORE, AGREED THAT THE COMPANY SHALL ACT IN CONCERT WITH ALL OTHER INTERESTS CONCERNED, INCLUDING THE INSURED, IN THE ENFORCEMENT OF ANY SUBROGATION RIGHTS OR IN THE RECOVERY OF AMOUNTS BY ANY OTHER MEANS. THE APPORTIONING OF ANY AMOUNTS SO RECOVERED SHALL FOLLOW IN THE PRINCIPLE THAT ANY INTEREST, INCLUDING THE INSURED, THAT SHALL HAVE PAID AN AMOUNT OVER AND ABOVE ANY PAYMENT UNDER THIS POLICY SHALL FIRST BE REIMBURSED UP TO THE AMOUNT PAID BY SUCH INTEREST; THE COMPANY SHALL THEN BE REIMBURSED OUT OF ANY BALANCE THEN REMAINING UP TO THE AMOUNTS PAID AS THE RESULT OF LOSS COVERED UNDER THIS POLICY; AND LASTLY, THE INTERESTS, INCLUDING THE INSURED, OF WHOM THIS COVERAGE IS IN EXCESS ARE ENTITLED TO CLAIM ANY RESIDUE REMAINING. EXPENSES AND COSTS NECESSARY TO THE RECOVERY OF ANY SUCH AMOUNTS SHALL BE APPORTIONED BETWEEN THE INTERESTS CONCERNED, INCLUDING THE INSURED, IN THE RATIO OF THEIR RESPECTIVE RECOVERIES OR, IN THE EVENT OF A TOTALLY UNSUCCESSFUL ATTEMPT TO RECOVER, IN THE RATIO OF THE RESPECTIVE AMOUNTS Sought TO BE RECOVERED.

5. OTHER INSURANCE

THIS CONDITION DOES NOT APPLY WITH RESPECT TO THE UNDERLYING INSURANCE OR EXCESS INSURANCE PURCHASED SPECIFICALLY TO BE IN EXCESS OF THIS POLICY.

IF, WITH RESPECT TO A LOSS COVERED HEREUNDER, THE INSURED HAS OTHER INSURANCE, WHETHER ON A PRIMARY, EXCESS OR CONTINGENT BASIS, THERE SHALL BE NO INSURANCE AFFORDED HEREUNDER AS RESPECTS SUCH LOSS; PROVIDED, THAT IF THE APPLICABLE LIMIT OF LIABILITY IS GREATER THAN THE APPLICABLE LIMIT OF LIABILITY PROVIDED BY THE OTHER INSURANCE, THIS POLICY SHALL AFFORD EXCESS INSURANCE OVER AND ABOVE SUCH OTHER INSURANCE IN AN AMOUNT SUFFICIENT TO GIVE THE INSURED, AS RESPECTS THE LAYER OF COVERAGE AFFORDED BY THIS POLICY, A TOTAL LIMIT OF LIABILITY EQUAL TO THE APPLICABLE LIMIT OF LIABILITY AFFORDED BY THIS POLICY.