CAA Contract ALUMBAUGH 2019 - Laserfiche WebLink

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If a potential claim is properly reported pursuant to the requirements of this provision, then any claim subsequently made against an Insured based upon or arising from such wrongful act or circumstance shall be deemed, for purposes of this Policy, to have been made during the policy period or any applicable extended reporting period, in which such potential claim was first reported. Premium Payment Our obligation to perform any duty under the Policy is strictly conditioned upon the payment of the premium when due. Similarly, our obligation to perform any duty pursuant to a renewal of coverage provided under the Policy shall be strictly conditioned upon the payment of the renewal premium when due. Therefore, this Policy shall not be deemed to have been issued, delivered, or renewed and shall not be applicable to any matter which would otherwise be covered herein, until: The premium has been paid in full; or, b. If we have agreed to finance the Policy, the first installment has been paid in full. If payment is made by check, electronic transfer or money order, it shall not be considered 'paid in full" until honored by the payor's bank. 4. Cooperation and Subrogation a. You agree to cooperate with us and assist us in the investigation, defense and settlement of any and all claims, potential claims and requests for Supplementary Payments, including but not limited to, promptly providing complete and accurate information which we may reasonably require, attending any deposition, hearing or trial as requested by us, assisting in securing and giving testimony, obtaining the attendance of witnesses, and doing nothing to prejudice our ability to investigate, defend or settle any claim or disciplinary proceeding to which this Policy applies. b. If we request, you agree to submit to any examination under oath that we may require, to be conducted by our representatives at a time and place of our choosing. C. You agree to follow our recommendation regarding whether or not to arbitrate or mediate a claim and shall not agree to arbitrate or mediate a claim without our prior written consent. d. In the event of any payment under this Policy, we shall be subrogated to all your rights of recovery against any person or organization, including any rights you may have against any other Insured who personally participated or personally acquiesced in or remained passive after having knowledge of any dishonest, intentionally wrongful, fraudulent, criminal, or malicious act or omission. You shall execute and deliver instruments and papers and do whatever else is necessary to secure and collect upon such rights. You shall do nothing to prejudice such rights. After deducting any costs or expenses incurred in obtaining recoveries under this section, the amount recovered shall be applied: (1) first, to the Insured in reimbursement of any deductible; (2) second, to us for reimbursement of any amount paid under the Policy; and, (3) third, shared equally between the Insured and us for reimbursement of amounts incurred as a result of the claim. 5. Action against Us No action may be taken against us unless, as a condition precedent, you have fully complied with all terms and conditions of this Policy and the amount of damages has been finally determined by the entry of judgment or by the written agreement between the Insured, the claimant and us. No person or entity shall have any right under this Policy to join us as a party to any action against the Insured to determine such Insured's liability, nor shall we be joined as a party or interpleaded by the Insured or the legal representatives of the Insured unless otherwise mandated by law. Assignment Neither this Policy nor any Insured's interest in this Policy may be assigned or transferred without our prior written consent. However, if the Insured is a person and dies, the coverage afforded by this Policy shall inure to the benefit of the deceased Insured's estate. ATY-0001-00-0116 Page 11 of 16 © 2016 Attorney Protective. All rights reserved.