Common use of Automatic Coverage-Newly Acquired Organizations ( Clause in Contracts

Automatic Coverage-Newly Acquired Organizations (. (90 days). The word insured shall include as named insured any organization which is acquired or formed by the named insured and over which the named insured maintains ownership or majority interest, other than a joint venture, provided this insurance DOES NOT APPLY to bodily injury, property damage, personal injury or advertising injury with respect to which such new organization under this policy is also an insured under any other similar liability or indemnity policy or would be an insured under any such policy BUT for exhaustion of its limits of liability. The insurance afforded you shall terminate 90 days from the date any such organization is acquired or formed or at the end of the policy period, whichever is earlier. Business umbrella insurance coverage does not apply to bodily injury or property damage that occurred before you acquired or formed the new organization nor does it apply to personal injury or advertising injury arising out of an offense committed before you acquired or formed the new organization.

Automatic Coverage-Newly Acquired Organizations (. (90 days). The word insured shall include as named insured any organization which is acquired or formed by the named insured and over which the named insured maintains ownership or majority interest, other than a joint venture, provided this insurance DOES NOT APPLY to bodily injury, property damage, personal injury or advertising injury with respect to which such new organization under this policy is also an insured under any other similar liability or indemnity policy or would be an insured under any such policy BUT for exhaustion of its limits of liability. The insurance afforded you shall terminate 90 days from the date any such organization is acquired or formed or at the end of the policy period, period whichever is earlier. Business umbrella insurance coverage Coverage L does not apply to bodily injury or property damage that occurred before you acquired or formed the new organization nor organization. Coverage P does it not apply to personal injury or advertising injury arising out of an offense committed before you acquired or formed the new organization.