Document LgMZLL5bgxV318xEx6zJg54eq

iiisiw gm Sftossi ijiitp wmniii PMHMI "aniW wssSsm WWi iftSjliil#SSi M"HMKBBBm BmWWI "- * ; i 0049-GLD-000051975 American Excess y Insurance Company (hereinafter called the Company) Wilmington, Delaware Administrative Office: One Liberty Plaza -91 Liberty Street New York, New York 10006 _ CNATIONAL BROKERAGE AGENCIES 123 William Street New York, New York 10038 .y-] fc-'yrin '` ' ` Tc rTTti sMinn ^ "| Vnr\- | a t t e n t io n : Mr. Anthony Povolny / S C M CORPORATION DECLARATIONS / '(HEREINAFTER CALLED THE INSURED) ITEM 1 299 Park Avenue________________________/________ lSTREET LOCATION New York CITY 509150 4 oh / New York / STATE EUL-508218/ EUL. CERTIFICATE NO. /BRANCH PRIOR CERTIFICATE NO. __I 10017 ZIP CERTIFICATE OF EXCESS INSURANCE I\>l5 bitt^ao ITEM 2 1 ,1 ,82 EFFECTIVE DATE 1 , /1 83 $ 6,000.00 .ITEM 3 EXPIRATION DATE TOTAL PREMIUM 12;01 A.M. STANDARD TIME AT THE ADDRESS OF THE INSURED AS STATED IN ITEM 1. INITIAL GROSS PREMIUM $6,000.00 f"U FUTURE La INSTA LLM6NTS ITEM 3 PREMIUM {CONTINUED) 6,000^0 ADVANCE PREMIUM: $_ RATE: NONfe INSTALLMENT PERIOD DATE OF NEXT INSTALLMENT MINIMUM PREMIUM: $_ 6,000,00 Excess Umbrella Liabilityit e m* d e s c r ip t io n o f c o v e r ag e -h e r e u n o e r : UNDERLYING POLICY An d LIMITS: COMPANY: POLICY NUMBER: / LIMITS: ! As per Schedules on file with the Company $74,000,000 each occurrence and in the aggregate where applicable. Umbrella Liability. ITEM 6 LIMITCS) OF THE COMPANY'S LIABILITY: ITEM 7 CANCELLATION: 30 dayS 2/2/82 /ek ------- FORM AE-P-OOX-A.W.Y.-1-79 $7,500,000 each occurrence and in the aggregate where applicable part of $25,000,000 each occurr ence and in the aggregate where, applicable in ex cess of the toal limit of liability specified in Item No. 5 above. // yr /| i- Countersigned by . AUTHORIZED REPRESENTATIVE ORIGINAL COPY PRINTED IN U.S.A;. GLD051976 0049-GLD-000051976 ENDORSEMENT ISSUED BY American Excess Insurance Company Wilmington, Delaware ONE LIBERTY PLAZA - 91 LIBERTY STREET NEW YORK, N.Y. 10006 r NATIONAL BROKERAGE AGENCIES 123 William SCreet' New York, New York 10038 "1 | at t en t io n : Mr. Anthony Povolny S C M CORPORATION (HEREIN CALLEO THE INSURED) EUL-5091564 1 , 1 , 82 Certificate No. e f f e c t iv e DATE o f CMOOfiSEUENT 1 FROM: 1 Endorsement Number i 1 i 82 TO: 1 t 1 , 83 CERTIFICATE PERIOD NEW YORK STATE AMENDATORY ENDORSEMENT It is hereby understood and agreed that, notwithstanding anything in this Certificate to the contrary, with respect to such insurance as is afforded by this Certificate, the terms of this Certificate as respects coverage for operations in the State of New York shall conform to the coverage requirements of the applicable insurance laws of the State of New York or the appli cable regulations of the New York Insurance Department; provided, however, that the Com pany's limit of liability as stated in this Certificate shall be excess of the limits of liability of any underlying insurance or self-insurance as stated in the Declarations or in any endorsement attached hereto. It is further understood and agreed that, notwithstanding anything in this Certificate to the contrary, with respect to such insurance as is afforded by this Certificate for operations in the State of New York, the words in insuring Agreement I........."hereby indemnifies the insured against ultimate net loss" .... are deleted and replaced by ... "will pay on behalf of the Insured the ultimate net loss" .... D-1048 (6/79) Nothing herein contained shall alter, vary or extend any provision or condition of the Certificate to which this endorsement is attached other than as above stated. 2/2/82 /ek DATE AE-20O1-A.W.Y. 10-79 Courtvartgnd by ORIGINAL COPY t / . . AUTHORIZED REPRESENTATIVE GLD051977 0049-GLD-000051977 ^ ENDORSEMENT ISSUED BY American Excess Insurance Company Wilmington, Delaware ONE LIBERTY PLAZA - 91 LIBERTY STREET NEW YORK. N.Y. 10006 Tel. 212 997-2000 1221 Avenue of ihe Americas, New York, N.Y. 10020 _! SCM CORPORATION (HEREIN CALLEO THE INSURED) EUL5Q91564 Certificate, Contract or Policy Numtodf 1 32 6f PESNCDTOIVR&SEOMAETNETOP U Ot A.M. at tl address of tfts Insured ADDITIONAL OR RETURN PREMIUM {-) -FROMl 1. 1 82 TO:_ 1 . 1 83 CERTIFICATE. CONTRACT OR FOL1CV FEBIOD NIL t o t al ad d it io n al o r RETURN PREMIUM I -I CHANGE IN AH FUTURE INSTALLMENTS ^ INCREASE OR DECREASE {-) AMENDED _ FUTURE INSTALLMENT NIL ____ I I OATH OF NEXT INSTALLMENT IT IS UNDERSTOOD AND AGREED THAT THE NAMED INSURED CLAUSE IS AMENDED AS FOLLOWS: "SCM Corporation, all subsidiaries and subsidiaries of the subsidiaries, SCM Foundation, any other company of which it assumes active management and any employer sponsored employee associations or clubs, of the Named Insured and Sylvachem Corporation, Jotun - Baltimore Copper Paint Company and Compania Envasadora Loreto S.A. as Joint Ventures." Nothing herein contained shall alter, vary or extend any provision or condition of the Certificate, Contract or GLD051978 0049-GLD-000051978 ENDORSEMENT ISSUED BY American Excess Insurance Company Wilmington, Delaware ONE LIBERTY PLAZA -9t LIBERTY STREET TIC N.Y. 10006 MSrh4 iJiL8LUUB 1 Tel. 212 997-2000 1221 Avenue ott the Americas, New York, N.Y. 10020 _! SCM CORPORATION (HEREIN CALLED THE INSURED) EUL5091564 Policy NCuomnbtrearct or 1 . 1 82 6FP6CTIV6 DATE OF ENOOASCMENT 12:01 A.M. attn* Mornt of ttt* (named ADDITIONAL OH RETURN PREMIUM M 3 PROM- 1 . 1 , 82 TO: 1 , 1 , 83 6naor*m#n Number CERTIFICATE, CONTRACT OR POUCt R6BIOO t NIL TOT AL AODlTlONAL 0 RETURN PREMIUM <-I CHANGE IN Rfl FUTURE INSTALLMENTS ,, ^ INCREASE OR DECREASE (-) AMENDED FUTURE INSTALLMENT ________ MIL______________ ------ *I- - DATE OF NEXT INSTALLMENT IT IS UNDERSTOOD AND AGREED THAT: The following Form Wording for SCM Corporation should be added as follows: "It is agreed and understood that except only with respect to policy term, premium and Limit of Liability, this policy is hereby amended to follow all the terms, conditions, definitions and exclusions of the first layer Umbrella (Insurer: Hartford, Policy No. 10HUEK0147) and any endorsements attached thereto, and all renewals and replacements. It is further agreed that all preprinted terms and conditions hereon are deleted to the extent that they vary from or are inconsistent with the terms and conditions of the first layer Hartford Umbrella." Nothing herein contained shall alter, vary or extend any provision or condition of the Certificate, Contract or Policy to which this endorsement is attached other than as above stated. 10-5-83 DATE Form AE-P005 Countersigned by ORIGINAL COPY AUTHORIZED, REPRESENTATIVE Printed in U.S.A. A.W.Y, 582 GLD051979 0049-GLD-000051979 ENDORSEMENT ISSUED BY American Excess Insurance Company Wilmington, Delaware ONE LIBERTY PLAZA -91 LIBERTY STREET NEW YORK, N.Y. lOObS ' Tel. 212 997-2000 1221 Avcnueof the Americas. New York, N.Y. 10020 SCH CORPORATION (HEREIN CALLED THE INSURED) EUL5091564 Certificate. Contract or Policy Numbtr 1.1, 82 BFPE6NCDTOIVRESEDMAETNETOP 12:01 A.M. M We adBreu af the Insured AOOITIONAL OR RETURN PREMIUM l-> ,FROM-_ 82 83 Enooraamom Number CERTIFICATE. CONTRACT OR POLiCV PERIOD NIL t o t a l AODH'ONAL o p RE TORN PREMIUM I - _ CHANGE IN nq FUTURE INSTALLMENTS INCREASE OR DECREASE I-> AMENDED FUTURE INSTALLMENT NIL II DATE OF NEXT INSTALLMENT IT IS HEREBY UNDERSTOOD AND AGREED THAT ITEM #7 OF THE POLICY DECLARATION IS AMENDED TO READ: 60 DAYS IN LIEU OF 30 DAYS. Nothing herein contained shall alter, vary or extend any provision or condition of the Certificate, Contract or Policy to which this endorsement is attached other than as above stated. 10-5-83 DATE Form AS-POOS Countersigned by ORIGIN/* L COPY SAs---- AUTHORIZED REPRESENTATIVE Printed in U.S.A. A.W.Y. 582 GLD051980 0049-G LD-000051980 "Spent Fuel" means any fuel element or fuel component, solid or liquid, which has been used or exposed to radiation in a nuclear reactor; "Waste" means any waste material containing by-product material resulting from the operation by any person or organization of any nuclear facility included within the definition of "Nuclear Facility" under paragraph (1), or (2), thereof; "Nuclear Facility" means (1) Any nuclear reactor, (2) Any equipment or device designed or used for (a) separating the isotopes of uranium or plutonium, (b) processing or utilizing spent fuel, or (c) handling, processing or packaging waste, (3) Any equipment or device used for the processing, fabricating or alloying of special nuclear material if at any time the total amount of such material in the custody of the Insured at the premises where such equipment or device is located consists of or contains more than 25 grams of plutonium or uranium 233 or any combination thereof, or more than 250 grams of uranium 235, (4) Any structure, basin, excavation, premises or place prepared or used for the storage or disposal of waste, and includes the site on which any of the foregoing is located, all operations conducted on such site and all premises used forsuch operation; "Nuclear Reactor" means any apparatus designed or used to sustain nuclear fission in a self-supporting chain reaction or to contain a critical mass of fissionable material. HI DEFINITIONS I. Ultimate Net Loss Ultimate Net Loss, as used herein, shall mean the sums paid in settlement of losses for which the Insured is liable after making deductions for all recoveries, salvages and other insurances (other than recoveries under the underlying insurance, policies of co-insurance, or policies specifically in excess hereof), whether recoverable or not. and shall exclude(I) All expenses for salaried employees and counsel on general retainer, (2) All office expenses of the Insured; (3) All expenses incurred by the insured with respect to accidents or occurrences for which insurance is not afforded .under this Certificate; and (4) Expenses incurred by the Insured under Contract with another to provide loss control services. I merest on judgements including but not limited to interest that accrues from the date suit is filed or interest that accrues from date of death, investigation, adjustment and legal expenses including taxed court costs and premiums on bonds that are incurred by the Insured with the written consent of the Company shall be apportioned as follows: (1) In the event ofclaim orsuit arising which appears likely to exceed the underlying insurance limit or limits, no costs shall be incurred by the Insured without the written consent of the Company. (2) Should any claim or suit be settled for not more than the underlying insurance limit or limits, then nocostsshall be payable by the Company. (3) Should, however, the sum for which the said claim or suit may be settled exceed the underlying insurance limit or limits, then the Company, if it approves such settlement or consents in writing to the proceedings continuing, shall contribute to the costs incurred by the Insured in the ratio that its proportion of the ultimate net loss, as finally adjusted, bears to the whole amount of such ultimate net loss. (4) 1 n the event the Insured elects not to appeal ajudgement in excess of the underlying insurance limit or limits, the Company may elect to conduct such appeal at its own cost and expense and shall be liable for the taxable court costs and interest incidental thereto, but in no event shall the total liability of the Company exceed its limit or limits of liability as stated herein, plus the costs of such appeal. (5) In the event a judgement is rendered in excess of the underlying insurance limit or limits and the underlying insurer or insurers elect to appeal such judgement, the sole responsibility ofobtaining an appeal bond in regard to liability in excess of the underlying insurance limit or limits shall rest with the Insured and its underlying insurer or insurers. IV CONDITIONS (, Action-Against Company: No action shall lie against the Company unless, as a condition precedent thereto, the Insured shall have fully complied with all the terms of this Certificate nor until (a) the Insured shall have paid ultimate net loss in excess of the underlying limit or (b) the Insured's obligation to pay shall have been finally determined either by judgement against the Insured after actual trial or by written agreement^ of the Insured, the claimant and the Company. 2. Application of aggregate limits: If aggregate limits are specifically stated in Items 5 and 6 ofthe Declarations of this Certificate, then, the insurance afforded hereunder will apply in excess of reduced underlying insurance provided such reduction in the underlying insurance is solely the result of payment ofc!aim(s} resulting from accidents or occurrences which take place during the term of this Certificate. If aggregate limits are not specifically stated in Item 5 and 6 of the Declarations, the coverage provided by this Certificate applies only with respect to each accident or occurrence for limits in excess oftheamount provided for each accident or occurrence in the underlying insurance and does not apply over any reduced amount of underlying insurance in the event of exhaustion or reduction of aggregate limits (if any) in the underlying insurance. 3. Assignment: Assignment of interest under this Certificate shall not bind the Company until its consent is endorsed hereon. 4. Cancellation: This Certificate may be cancelled by the Insured by surrender thereof to the Company or by mailing to the Company written notice stating when thereafter die cancellation shall be effective. This Certificate may be cancelled by the Company upon written notice to the Insured, such notice to be not less than the number of days set forth in Item 7 of the Declarations of this Certificate. The mailing of notice as aforesaid shall be sufficient proofof notice. The time of the surrender or the AE-P002-A.W.Y.-H-6-79 ~2- Primed in U S A. GLD051981 0049-GLD-000051981 .c date and hour of cancellation stated in the notice shall become the end of the certificate period. Delivery of such written ,,uce either by the Insured or by the Company shall be equivalent to mailing. If the Insured cancels, earned premium shall be computed in accordance with the customary short rate table and procedure. If the Company cancels, earned premium shall be computed pro-rata. Premium adjustments may be made either at the time cancellation is effected or as soon as practicable after cancellation becomes effective, but payment or tender of unearned premium is not a condition of ca ncellation. The Company may. however, cancel this Certificate absolutely on five (5) days notice for non-payment of premium due. - Notice shall be given by the Insured to the Company at One Liberty Plaza --91 Liberty Street, New York, New York 10006, and by the Company to the Insured at the Insured^ address as shown in the Declarations. Notice by the Company to the first Named Insured, if more than one. shall be deemed notice to any other interests included as an Insured. 5. Changes: Notice to or knowledge possessed by any person shall not effect a waiver or change in any part of this Certificate or estop the Company from asserting any rights under the terms of this Certificate; nor shall the terms of this Certificate be waived or changed, except by endorsement issued to form a part hereof, signed by an authorized representative of the Company. 6. Examination and Audit: The Company may examine and audit the Insured's books and records at any time during the term of this Certificate and thereafter as far as they relate to the subject matter of this insurance. 7. Loss Payable: The Company's obligation topayanyultimatenetlossandcostswith respect to any accident or occurrencefalling within the terms of this Certificate shall not attach until the amount of the applicable underlying limit has been paid by or on behalf of the Insured on account of such accident or occurrence. 8. Maintenance of Underlving Insurance: The limits of the underlying insurance shall be maintained by the Insured in full force and effect during the currency of this Certificate. Failure of the Insured to comply with the foregoing shall not invalidate this Certificate but in the event of such failure, the Company shall be liable only to the extent that it would have been liable had the Insured complied therewith. The Insured hereby agrees to promptly furnish the Company with a copy of the policy or policies of underlying insurance and renewals or replacements thereof including all endorsements attached thereto and to forward to the Company any subsequent endorsement to the underlyinginsurance which provides forany material change in coverage as described in Item 4 of the Declarations. 9. Notice of Loss: The Insured shall give prompt written notice to the Company of: (a) any accident or occurrence for which, without regard to liability, the value of injuries or damages sought as estimated by the Insured or, with the knowledge ofthe Insured, by the underlying insurer might result in a judgement sufficient to involve the Company's limit(s) of liability hereunder, (b) any accident or occurrence with respect to which the underlying insurer has notified the Insured that it has established a loss reserve equal to or greater than fifty (50) percent of said underlying insurer's limit of liability, (e) any cumulative incurred (paid and outstanding reserve) loss amounts, of which the Insured has been notified by the underlying insurer, totaling fifty(50) percent ofthe underlying aggregate limits where aggregate limits apply. Such notice shall contain particulars sufficient to identify the I nsured and aIso reasonably obtainable information respecting the date. time, place and circumstances of the accident or occurrence, the names and addresses of each party sustaining injury- or damage and a description of such injury or damage. At no time shall the Company be called upon to assume charge of the settlement or defense of any claims made or suits brought or proceedings instituted against the insured, but the Company shall Have the right and shall be given the opportunity to associate with the Insured or its underlying insurer or insurers, or both, in the cc. ,rol, defense and/or trial of any claims, suits or proceedings which, in the opinion of the Company, involves or appears reasonably likely to involve the Company. The Insured shall (a) cooperate with the Company and the underlying insurer or insurers in the control, defense and/or trial of such claims, suits or proceedings so as to effect a final determination thereof and (b) enforce any right of contribution or indemnity against any person or organization who may be liable to the insured, because of liability with respect to which insurance is afforded under this Certificate and the underlying insurance. 10. Premium Computation: Premium due the Company for this excess insurance shall be that amount shown in Item 3 of the Declarations and is payable upon the effective date of this Certificate. The advance premium stated in the Declarations is a deposit premium only unless otherwise specified. Upon termination of this Certificate, the earned premium shall be computed in accordance with the rates and minimum premium applicable to this insurance as stated in the Declarations. If the earned premium thus computed exceeds the advance premium paid, the Insured shall pay the excess to the Company; if less, the Company shall return to the Insured the unearned portion in excess of the minimum premium stated in Item 3 of the Declarations paid by such Insured. The Insured shall maintain records of the information necessary for premium computation on the basis stated in the Declarations and shall send copies of such records to the Company at the end of the Certificate period, asthe Company may direct. ! I. Prior Insurance and Non Cumulation of Liability: It is agreed that if any loss covered hereunder is also covered in whole or in part under any other excess policy or certificate issued to the Insured prior to the inception date hereof, the limit ol' liability hereon as stated in Item 6 of the Declarations ofthis Certificate shall be reduced by any amounts due the Insured on account ofsuch loss under such prior insurance. 12. Service of Suit: (not applicable in Connecticut, Delaware and New York) It is agreed that in the event of the failure of the Company to pay any amount claimed to be due hereunder, the Company, at the request of the Insured, will submit to the jurisdiction of any Court of Competent Jurisdiction within the United Stales and will comply with all the requirements necessary to give such Court jurisdiction and alt matters arising hereunder shall be determined in accordance with the law and practice of such court. Further, pursuant to any statute of any state, territory or district of the United States which makes provision therefore, thr Company hereby designates the Superintendent. Commissioner, or Director of Insurance or other officer specified forthat purpose in the statute or hissuccessor or successors in office.as its true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted in any Court of Competent Jurisdiction by or on behalf of the Insured, "or any beneficiarv hereunder arising out of this Certificate of Excess Insurance, and hereby designates T. Darrington Semple. Jr., Secretary, American Excess 1 nsurance Company, One Liberty Plaza -- 91 Liberty Street. New York. New York 10006, or his representative as the person to whom said officer is authorized to mail such process or a true copy thereof. AE-P002-A.W.Y.-R-6-79 -3- GLD051982 000051982 whom said officer is authorized to mail such process or a true copy thereof. 13. Subrogation and Salvage: All salvages, recoveries or payments recovered or received subsequent to a settlement under this Certificate shall be applied as if recovered or received prior to such settlement and all necessary adjustments shall then be made between the Insured and the Company. Inasmuch as this Certificate is Excess Insurance, the Insured^ right of recovery against any person cannot be exclusively subrogated to the Company. It is, therefore, understood and agreed that in the event ofpayment hereunder, the Company will act in concert with all other interests (including the Insured) concerned in the exercise of such rights of recovery. The apportioning ofany amounts which may be so recovered shall follow the principal that any interests (including the Insured) that shall have paid an amount Over and above any payment hereunder, shall first be reimbursed up to the amount paid by them; the Company is then to be reimbursed out of any balance then remaining up to the amount paid hereunder; lastly, the interests (including the Insured) of whom this coverage is in excess are entitled to claim the residue, if any. Expenses necessary to the recovery of any such amount shall be apportioned between the interests (including the Insured) concerned, in the ratio of their respective recoveries as finally settled. The Insured shall do nothing after loss to prejudice such rights. Nothing herein contained shall be construed to mean that the insured shall be required to enforce by legal action any right of subrogation or indemnity before the Company shall pay any loss covered hereunder. 14. Term: This Certificate applies only to accidents or occurrences happening between the effective and expiration dates shown in Item 2 of the Declarations of this Certificate, unless otherwise cancelled. 15. Terms of Certificate Conformed to Statute: Terms of this Certificate which are in conflict with the statutes of the State wherein this Certificate is issued are hereby amended to conform to such statutes. IN WITNESS WHEREOF, the Company has caused this Certificate to be signed by its President and Secretary, but same shall not be binding upon the Company unless countersigned by an authorized representative of the Company. James D. Koehnen T. Darrington Semple, Jr. President Secretary AE-P002-A.W.V.-R-S-79 -4- Printed inU.S.A. GLD051983 0049-GLD-000051983