# NEW YORK INSURANCE STATUTES

Some of the insurance afforded by this policy which is afforded under the terms of the liability coverages of a "controlling underlying policy" may be issued by an insurer which is not licensed to write such insurance in the State of New York. Such insurance shall conform to the requirements of any New York insurance laws applicable to that insurance. This only applies to such insurance when it is applicable to operations in the State of New York.

3. The first six words of Provision 1 - INSURING AGREEMENT - which read "To indemnify the insured for loss" are replaced by the following:

"To pay on behalf of the insured loss."

4. Provision 5 - LOSS PAYABLE - is deleted and replaced with the following:

Subject to Provision 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 make payment on behalf of the insured as soon as is practicable.

5. The following paragraph is added to Provision 9 - NOTIFICATION:

Notice given by or on behalf of the insured, or written notice by or on behalf of the injured person or any other claimant, to any agent of ours in New York State, with particulars sufficient to identify the insured, shall be considered to be notice to us.