# CONDITIONS

## PRIOR INSURANCE AND NON-CUMULATION OF LIABILITY

It is agreed that if any loss covered hereunder is also covered in whole or in part under any other excess Policy issued to the Assured prior to the inception date named in Items 8 and 9 of the Declarations, the amount and limits of liability herein as stated in Items 8 and 9 of the Declarations shall be reduced by any payments due from the Assured on account of such loss under such prior insurance.

## MAINTENANCE OF UNDERLYING UMBRELLA INSURANCE

This policy is subject to the same terms, definitions, exclusions and conditions (except as regards the premium, the amount and limits of liability except as otherwise provided herein) as are contained in or may be added to the Underlying Umbrella Policy stated in Item 2 of the Declarations prior to the happening of an occurrence for which claim is made hereunder.

It is a condition of this Policy that the Underlying Umbrella Policy shall be maintained in full effect during the currency thereof without reduction of coverage limits except for any reduction which represents limits contained therein solely by payment of claims thereon.

## CANCELLATION

This Policy may be cancelled by the Named Assured or by the Underwriters or their representatives by mailing written notices to the other party named when, not less than thirty (30) days thereafter, cancellation shall be effective. The mailing of notice as aforesaid by Underwriters or their representatives to the Named Assured at the address shown in this Policy shall be sufficient proof of notice. Delivery of such written notice either by the Named Assured or by the Underwriters or their representatives shall be equivalent to mailing.

If this policy shall be cancelled by the Named Assured, the Underwriters shall retain the customary short rate proportion of the premium for the period this policy has been in force. If this Policy shall be cancelled by the Underwriters, the Underwriters shall be entitled to a pro rata proportion of the premium for the period this Policy has been in force. Notice of cancellation by the Underwriters shall be effective even though Underwriters make no payment or tender of return premium.

## NOTICE OF OCCURRENCE

Whenever the Assured has information from which the Assured may reasonably conclude that an occurrence covered hereunder involves injuries or damage which, in the event that the Assured should be held liable, is likely to involve this Policy, notices shall be sent as named in Item 7 of the Declarations as soon as practicable; provided, however, that failure to give notice of any occurrence which at the time of its happening did not appear to involve this Policy but which, at a later date, would appear to give rise to claims hereunder, shall not prejudice such claims, unless the Assured has been guilty of gross negligence or willful misconduct.

## OTHER INSURANCE

If other valid and collectible insurance with any other insurer is available to the Assured covering a loss also covered by this Policy, other than insurance that is specifically stated to be excess of this policy, the insurance afforded by this Policy shall be in excess of and shall not contribute with such other insurance.