Common use of EXCESS OF ORIGINAL POLICY LIMITS Clause in Contracts

EXCESS OF ORIGINAL POLICY LIMITS. A. This Agreement shall protect the Company, within the limits hereof, in connection with Losses Incurred in excess of the limit of its original Policy including any legal costs and expenses incurred in connection therewith (“Excess of Original Policy Limit Loss”), such loss in excess of the limit having been incurred because of failure by it to settle within the policy limit or by reason of alleged or actual negligence, fraud, or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. B. Such loss in excess of the Company’s policy limit, including any legal costs and expenses incurred in connection therewith, shall be added to the amount of the Company’s policy limit and the sum thereof shall be considered one loss. C. This Article shall not apply where the Excess of Original Policy Limit Loss has been incurred due to an adjudicated finding of fraud or a criminal act of a member of the Board of Directors or an executive corporate officer of the Company acting individually or collectively or in collusion with any individual or organization. D. Recoveries from any form of insurance or reinsurance, whether collectible or not, which protects the Company against claims which are the subject matter of this Article and any contribution, subrogation or recovery shall inure to the benefit of the Reinsurer and shall be deducted first to determine the amount of the Company’s Net Loss(es). E. If any provision of this Article shall be rendered illegal or unenforceable by the laws, regulations or public policy of any state, such provision shall be considered void in such state, but this shall not affect the validity or enforceability of any other provision of this Agreement or the enforceability of such provision in any other jurisdiction.

EXCESS OF ORIGINAL POLICY LIMITS. A. This Agreement AGREEMENT shall protect the Company, within COMPANY for 100% of the limits hereof, amount of loss in connection with Losses Incurred excess of the original policy limit where the ultimate net loss includes loss in excess of the limit of its original Policy policy. The liability of the REINSURER with respect to the entire amount of ultimate net loss, including any legal costs and expenses incurred the loss in connection therewith (excess of the limit of its original policy, shall not exceed the limit of liability of the REINSURER as set forth in the Article entitled “Excess Liability of Original Policy Limit Loss”), the REINSURER,” such loss in excess of the limit having been incurred because of failure by it to settle within the policy limit or by reason of alleged or actual negligence, fraud, negligence or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. B. . Such 100% loss amount in excess of the Company’s original policy limit, including any legal costs and expenses incurred in connection therewith, limit shall be added included in the ultimate net loss in order to determine the amount of the Company’s policy limit and the sum thereof shall be considered one lossappropriate reinsurance under this AGREEMENT. C. This B. However, this Article shall not apply where the Excess of Original Policy Limit Loss loss has been incurred due to an adjudicated finding of the fraud or a criminal act of a member of the Board of Directors or an executive Directors, a corporate officer of the Company COMPANY, or any other employee of the COMPANY, acting individually or collectively or in collusion with any individual or organizationcorporation or any other organization or party involved in the presentation, defense, or settlement of any claim covered hereunder. D. C. Recoveries from any form of insurance or reinsurance, whether collectible or not, which protects the Company COMPANY against claims which are the subject matter of this Article and any contribution, subrogation or recovery shall inure to the benefit of the Reinsurer REINSURER and shall be deducted first to determine arrive at the amount of the CompanyCOMPANY’s Net Loss(es)ultimate net loss. Any deductibles from such insurance or reinsurance shall also be deducted to arrive at the amount of the COMPANY’s ultimate net loss and shall therefore be retained by the COMPANY. E. If any provision D. For the purposes of this Article article, the word “loss” shall be rendered illegal or unenforceable by mean any amounts for which the laws, regulations or public policy COMPANY would have been contractually liable to pay had it not been for the limit of any state, such provision shall be considered void in such state, but this shall not affect the validity or enforceability of any other provision original policy. Also for the purposes of this Agreement or article, the enforceability date of such provision in any other jurisdictionoccurrence shall always be the same as the date of occurrence under the original policy limit.

EXCESS OF ORIGINAL POLICY LIMITS. A. This Agreement Contract shall protect the Company, within Reassured in respect of 90% of any additional liability incurred by the limits hereof, in connection with Losses Incurred Reassured as the result of an award in excess of the original policy limit as more fully defined below. Such excess of original policy limits coverage shall be up to an additional limit of its this Contract and in addition to any contractual loss recovered hereunder. The maximum additional recoverable in respect of specific excess of original Policy including policy limits and extra contractual obligations coverage shall be $7,000,000 any legal costs and expenses incurred in connection therewith (“Excess one claim. The Reinsurers agree that the said 90% of Original Policy Limit Loss”)the additional liability so incurred, such plus the Reassured's contractual loss, shall be considered as one combined loss for the purposes of the Reassured's retention. Awards in excess of the original policy limit are defined as contractual losses which the Reassured may be legally liable to pay, but in excess of the original policy limit, such losses in excess of the original policy limit having been incurred because of of, but not limited to, the following: failure by it the Reassured to settle within the original policy limit or by reason of alleged or actual negligence, fraud, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its an insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. B. Such loss . The date on which any liability in excess of original policy limits is incurred by the Company’s policy limit, including any legal costs and expenses incurred in connection therewith, Reassured shall be added deemed, in al1 circumstances, to be the amount of date the Company’s policy limit and the sum thereof shall be considered one loss. C. This original claim was made or discovered. However, this Article shall not apply where the Excess such awards in excess of Original Policy Limit Loss has original policy limit have been incurred due to an adjudicated finding of the fraud or a criminal act of a member of the Board of Directors or an executive a corporate officer of the Company Reassured acting individually or collectively or in collusion with any individual or organization. D. Recoveries from corporation or any form of insurance other organization or reinsuranceparty involved in the presentation, whether collectible defense or not, which protects the Company against claims which are the subject matter of this Article and any contribution, subrogation or recovery shall inure to the benefit of the Reinsurer and shall be deducted first to determine the amount of the Company’s Net Loss(es). E. If any provision of this Article shall be rendered illegal or unenforceable by the laws, regulations or public policy settlement of any state, such provision shall be considered void in such state, but this shall not affect the validity or enforceability of any other provision of this Agreement or the enforceability of such provision in any other jurisdictionclaim.

EXCESS OF ORIGINAL POLICY LIMITS. A. This Agreement Contract shall protect the Company, within Reassured in respect of 90% of any additional liability incurred by the limits hereof, in connection with Losses Incurred Reassured as the result of an award in excess of the original policy limit as more fully defined below. Such excess of original policy limits coverage shall be up to an additional limit of its this Contract and in addition to any contractual loss recovered hereunder, it being understood the maximum additional recoverable in respect of specific excess of original Policy including policy limits and extra contractual obligations coverage shall be USD 3,000,000 any legal costs and expenses incurred in connection therewith (“Excess one claim. The Reinsurers agree that the said 90% of Original Policy Limit Loss”)the additional liability so incurred, such plus the Reassured's contractual loss, shall be considered as one combined loss for the purposes of the Reassured's retention. Awards in excess of the original policy limit are defined as contractual losses which the Reassured may be legally liable to pay, but in excess of the original policy limit, such losses in excess of the original policy limit having been incurred because of of, but not limited to, the following: failure by it the Reassured to settle within the original policy limit or by reason of alleged or actual negligence, fraud, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its an insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. B. Such loss . The date on which any liability in excess of original policy limits is incurred by the Company’s policy limit, including any legal costs and expenses incurred in connection therewith, Reassured shall be added deemed, in all circumstances, to be the amount of date the Company’s policy limit and the sum thereof shall be considered one loss. C. This original claim was made or discovered. However, this Article shall not apply where the Excess such awards in excess of Original Policy Limit Loss has original policy limit have been incurred due to an adjudicated finding of the fraud or a criminal act of a member of the Board of Directors or an executive a corporate officer of the Company Reassured acting individually or collectively or in collusion with any individual or organization. D. Recoveries from corporation or any form of insurance other organization or reinsuranceparty involved in the presentation, whether collectible defense or not, which protects the Company against claims which are the subject matter of this Article and any contribution, subrogation or recovery shall inure to the benefit of the Reinsurer and shall be deducted first to determine the amount of the Company’s Net Loss(es). E. If any provision of this Article shall be rendered illegal or unenforceable by the laws, regulations or public policy settlement of any state, such provision shall be considered void in such state, but this shall not affect the validity or enforceability of any other provision of this Agreement or the enforceability of such provision in any other jurisdictionclaim.

EXCESS OF ORIGINAL POLICY LIMITS. A. This Agreement Sections A and B, as applicable As provided in ULTIMATE NET LOSS, this Contract shall protect the Company, Reassured within the limits hereof, of this Contract in connection with Losses Incurred respect of 90% of any additional liability incurred by the Reassured as the result of an award in excess of the original policy limit as more fully defined below. The Reinsurers agree that the said 90% of the additional liability so incurred, plus the Reassured's contractual loss, shall be considered as one combined loss for the purpose of the Reassured's retention and of the recovery under this Contract subject always, however, to the amount recoverable hereunder not exceeding the limit of its original Policy including any legal costs recovery under this Contact as provided in COVER, LIMIT, AND RETENTION, Sections A and expenses incurred in connection therewith (“Excess of Original Policy Limit Loss”)B, such loss as applicable. Awards in excess of the original policy limit are defined as contractual losses which the Reassured may be legally liable to pay, but in excess of the original policy limit, such losses in excess of the original policy limit having been incurred because of of, but not limited to, the following: failure by it the Reassured to settle within the original policy limit or by reason of alleged or actual negligence, fraud, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its an insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action. B. Such loss , The date on which any liability in excess of original policy limits is incurred by the Company’s policy limit, including any legal costs and expenses incurred in connection therewith, Reassured shall be added deemed, in all circumstances, to be the amount of date the Company’s policy limit and the sum thereof shall be considered one loss. C. This original claim was made or occurred. However, this Article shall not apply where the Excess such awards in excess of Original Policy Limit Loss has original policy limit have been incurred due to an adjudicated finding of the fraud or a criminal act of a member of the Board of Directors or an executive a corporate officer of the Company Reassured acting individually or collectively or in collusion with any individual or organization. D. Recoveries from corporation or any form of insurance other organization or reinsuranceparty involved in the presentation, whether collectible defense or not, which protects the Company against claims which are the subject matter of this Article and any contribution, subrogation or recovery shall inure to the benefit of the Reinsurer and shall be deducted first to determine the amount of the Company’s Net Loss(es). E. If any provision of this Article shall be rendered illegal or unenforceable by the laws, regulations or public policy settlement of any state, such provision shall be considered void in such state, but this shall not affect the validity or enforceability of any other provision of this Agreement or the enforceability of such provision in any other jurisdictionclaim.