Common use of Maintenance of Underlying Insurance Clause in Contracts

Maintenance of Underlying Insurance. You must maintain each and every type of insurance policy shown on the schedule of underlying insurance attached to this policy. You must maintain those policies for the full term of this insurance contract and for no lesser limits than those shown on the schedule; except for reductions in aggregate limit(s) due to payment of covered claims for bodily injury, property damage, personal injury and advertising injury. You must give us written notice of any change in the underlying insurance with respect to coverage, limits of insurance or liability, termination of any coverage or exhaustion of any aggregate limit(s). In the event that you fail to comply with these terms, we will pay any covered loss only to the extent that we would be legally obliged to had you been in full compliance with this agreement.

Maintenance of Underlying Insurance. You must maintain each and every type of insurance policy shown on the schedule of underlying insurance attached to this policy. You must maintain those policies for the full term of this insurance contract and for no lesser limits than those shown on the schedule; except for reductions in aggregate limit(s) due to payment of covered claims for bodily injury, property damage, and/or personal injury and advertising injury. You must give us written notice of any change in the underlying insurance with respect to coverage, limits of insurance or liability, termination of any coverage or exhaustion of any aggregate limit(s). In the event that you fail to comply with these terms, we will pay any covered loss only to the extent that we would be legally obliged to had you been in full compliance with this agreement.