Common use of Loss Assessment Clause in Contracts

Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of: a. Bodily injury" or "property damage" not excluded under Section II of this policy; or b. Liability for an act of a director, officer or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners. This coverage applies only to loss assessments charged against you as owner or tenant of the "residence premises." We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do not apply to this coverage:

Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result aresult of: a. Bodily injury" or "property damage" not excluded under Section II of this policy; or b. Liability for an act of a director, officer or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners. This coverage applies only to loss assessments charged against you as owner or tenant of the "residence premises." We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do not apply to this coverage:

Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of: a. “Bodily injury" ” or "“property damage" ” not excluded under Section II of this policy; or b. Liability for an act of a director, officer or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties duties, which are solely on behalf of a corporation corporation, or association of property owners. ; This coverage applies only to loss assessments charged against you as owner or tenant of the "“residence premises." ” We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do not apply to this coverage:

Loss Assessment. We will pay up to $1000 2,000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of: a. “Bodily injury" ” or "“property damage" ” not excluded under Section SECTION II of this policy; or b. Liability for an act of a director, officer officer, or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners. This coverage applies only to loss assessments charged against you as owner or tenant of the "“residence premises." ” We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 2,000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do does not apply to this coverage:

Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of: a. Bodily injury" or "property damage" not excluded under Section II of this policy; or b. Liability for an act of a director, officer or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners. This coverage applies only to loss assessments charged against you as owner or tenant of the "residence premises." We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do not apply to this coverage: 1. Section II - Coverage E - Personal Liability Exclusion 2.a.(1); 2. Condition 1. Policy Period, under SECTIONS I AND II - CONDITIONS.

Loss Assessment. We will pay up to $1000 1,000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of: a. “Bodily injury" ” or "“property damage" ” not excluded under Section SECTION II of this policy; or b. Liability for an act of a director, officer officer, or trustee in the capacity as a director, officer or trustee, provided: (1) The director, officer or trustee is elected by the members of a corporation or association of property owners; and (2) The director, officer or trustee serves without deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners. This coverage applies only to loss assessments charged against you as owner or tenant of the "“residence premises." ” We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. Regardless of the number of assessments, the limit of $1000 1,000 is the most we will pay for loss arising out of: a. One accident, including continuous or repeated exposure to substantially the same general harmful condition; or b. A covered act of a director, officer or trustee. An act involving more than one director, officer or trustee is considered to be a single act. The following do does not apply to this coverage: