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GLD052017
0049-GLD-000052017
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VJV'TI'l i_<S>Y ^5or\r\ xs-Wnn. fart?- i, rmp Excess Liability Policy
Polity Provisions -- Part 1 Forr. 6202 (TC 4/81)
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Twin City Fire Insurance ^company
A Member of the Hartford Insurance Group
Hartford Plaza, Hartford, Connecticut 06115
/7
POLICY NO/
t x s TOiogg
Frai
SCM CORPORATION, ETAL.
299 PARK AVENUE
NEW YORK, NEW YORK 10171
1/1/82
ro 1/1/83
THE COMPANY DESIGNATED ON THE DECLARATIONS PAGE AS THE INSURER (A STOCK INSURANCE COMPANY, HEREIN CALLED THE COMPANY)
In consideration ol Hie payment of Hie premium, agrees with the Hrst named Insured as follows:
I INSURING AGREEMENT
III PERSONS INSURED
Each of Ihe following is an insured under this policy to the extent set forth below:
The company will indemnify the insured for ultimate net loss in excess oi underlying Insurance stated in Hem 5 of the declarations. Cut not in excess of the company's limits of liability stated in item 4 of the declara tions.
Except as otherwise provided by this policy. Hie insurance afforded herein shall follow all the terms, conditions, definitions and exclusions of ihe controlling underlying insurance policy designated in Item 6 of Ihe declarations.
(a) any named insured, and
(b) any. person or organization which is an insured under the terms of the controlling underlying insurance policy, sub ject to all the liir,Hattons upon coverage under such control ling underlying insurance policy other man tne limits thereof.
IV LIMITS OF LIABILITY
II INVESTIGATION, DEFENSE, SETTLEMENT
The company shall not be obligated to assume charge of the investiga tion, defense or setHement of any claim or suit against the insured, but the company shall have the right and shall be given the opportunity to associate with the insured or its underlying insurers, or both, in Hie invesHgation, defense or setHement of any claim or suit which, in the opinion of the company, involves or appears reasonably likely to involve the company. II the company avails itself of such right and opportunity, the insured, its insurers and the company shall cooperate in such mat ters so as to effect a final determination thereof. The insured shall not make or agree to any settlement for an amount in excess of underlying insurance without Hie approval of the company
Subject to the above provision, costs incurred by the insured shall be borne as follows:
(a) all costa incurred by the insured without the written consent of the company shall be borne by the insured;
Regardless of the number of (1) insureds under this policy, (2) persons or organizations who sustain injury or damage or (3) claims made or suits brought, the company's liability is limited as follows:
(a) The limits of the company's liability under this policy apply only alter tne underlying insurers have paid or have been held legally liable to pay Hie full amount ol their respective limits of liability which makes up the total stated in Item S ol the declarations; provided mat;
(i) unless aggregate unfits are specifically stateo in both Items 4 and 5 of the declarations, the insur ance afforded by this policy applies with respect to each occurrence only for Emits of liability in excess of me amounts afforded for each occurrence in the underlying Insurance, and does not apply over any reduced amount of underlying insurance in the event of me exhaustion or reduction of aggregate limits of liability, if any. in me underlying insur ance; or
(b) if a claim or suit is settled for not more than Hie limits of underlying insurance, no coats shall be payable by Hie company;
(c) if the sum for which a claim or suit is settled exceeds the
limits of underlying insurance, then the company, if it
approves such settlement or consents to the continuation of
the proceedings, shall contnbute to the costs incurred by the
insured in the proportion which the amount of ultimate net
loss as finally determined to be payable by Hie company
bears to the total amount paid on such claim or suit by all
interests;
:
(d) if the insured elects not to appeal-a judgment in excess of the limits of underlying Insurance,- the company may elect to
conduct such appeal at its cost and expense, and shall be liable for the taxable costs and disbursements and interest incidental thereto, but in no event shall the total liability of the
company exceed the limits of liability as stated in this policy, plus the cost and expense of such appeal;
(ej it a judgment is rendered in excess of the limits of underlying
insurance and the company is willing to contribute thereto but the underlying insurers elect to appeal such judgment, the duty ol obtaining an appeal bond with respect to liability in
excess ol the limits of underlying insurance snail be that ot the insured and its underlying insurers.
(ii) if aggregate limits of liability are specifically stated in
bom Items 4 and 5 of the declarations, the insur
ance afforded by this policy applies in excess ot reduced underlying insurance, provided such reduction in the underlying insurance is solely the result of the payment of claims because of occur rences taking place during the period of mis policy.
(b) If the limits of liability slated in Item 4 of the declarations are on a "Quota Share Basis ', the limits ot the company's liability shall be the quota share percentage so stated ot all ultimate net loss to which this policy applies which is in excess of underlying insurance, up to the limits so stated.
(c) If the limits oi liability stated in Item 4 of me declarations are on a "Full Limits Basis", me limits of the company's liability shall be me amount of all ultimate net loss to which this policy applies which is in excess ot underlying insurance, up to the limits so stated.
(d) Subject to provisions (a), (b) and (c) above, me total liability of the company for all ultimate net loss as the result ot any one occurrence, shall not exceed Ihe limit of liability stated in Item 4 ol me declarations as applicable to "each occurrence''.
(e) Subject to provisions (a), (b) and (c) above, the total liability ol the company for all ultimate net loss because o< all occur-
Pom, 6202 (TC */81)
Page I
GLD052018
0049-GLD-000052018
WRT 2 This Declarations page, with "POLICY PROVISIONS -- Part tForm TC6202, ami any endorsements, issued to form a part thereof, completes the below numbered Excess Liability Policy.-
~^WSSSS?SSS5Pln,y Hartford Plaza, Hartford. Connecticut 09115
/
Co. Coda The INSURER ahU ba the Company
aa designated herein toy Co. Coda:
7
DECLARATIONS
Prwrtooa Poficy No.
>*"
1. Pint Namad Inaurad and Addmaa
__________ MEW
/ /
POLICY NO/
JXS /]
SCM CORPORATION, ETAL. 299 PARK AVENUE NEW YORK, NEW YORK 10171
3. Policy Parted:
...................... .......... ~a From 1/1/82
To. 1/1/83
I - Producer's Nama and Address"" Producer's Code
07017
112:01 A.M., standard time at the addrass of the first namad Inaurad as
stated harain.
NBA EXCESS & SURPLUS LINES/INC. 123 WILLIAM STREET NEW YORK, NEW YORK' 10270
L. _J Nodes of cancellation by the cnmmmy 3 0 days.
3. Premium: $ 6,500.00
which is 0 Flat Charge, Poficy Period D Adjustable. Par Premium Computation Endorsement
Minimum Premium $
Not subject to adjustment in die event of cancellation.
a. UinNe of Liability The limits of the company's liabiBty under this polioy shad, subject to all the terms of the policy relating thereto, be as follows:
$10,000,000 EACH OCCURRENCE/AGGREGATE P/O $50,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OP $99,000,000 EACH OCCURRENCE/AGGREGATE
5. Total Limits of liability -- M Underlying Insurance Pollctes
SEE ATTACHED
8. Controlling lindertying Insurance Policy THs policy shai follow the terms, conditions, definitions and exclusions of the controlling underlying insurance pofcy #
is*** by HARTFORD
7. Form number* of endoraemante forming port of this poficy at Issue:
GLD052019
0049-GLD-000052019
SCHEDULE OF UNDERLYING INSURANCES SCM CORPORATION, ETAL. LAYERING
1. $ 9,000,000 EACH OCCURRENCE/AGGREGATE EXCESS OF PRIMARY - HARTFORD
2. $ 5,000,000 EACH OCCURRENCE/AGGREGATE EXCESS OF $9,000,000 EACH OCCURRENCE/ AGGREGATE - GIBRALTER
3. $10,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/
AGGREGATE EXCESS OP $14,000,000 EACH OCCURRENCE/AGGREGATE -
FIREMANS FUND
--
.
4. $10,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/-
AGGREGATE EXCESS OF $14,000,000 EACH OCCURRENCE/AGGREGATE GRANITE STATE
5. $ 5,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/
AGGREGATE EXCESS OF $14,000,000 EACH OCCURRENCE/AGGREGATE LEXINGTON
6. $ 5,000,000 EACH OCCURRENCE/AGGREGATE P/O $10,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $39,000,000 EACH OCCURRENCE/AGGREGATE GIBRALTER
7. $ 2,500,000 EACH OCCURRENCE/AGGREGATE P/O $10,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $39,000,000 EACH OCCURRENCE/AGGREGATE AMERICAN EXCESS
8. $ 2,500,000 EACH OCCURRENCE/AGGREGATE P/O $10,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $39,000,000 EACH OCCURRENCE/AGGREGATE GRANITE STATE
9. $10,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $49,000,000 EACH OCCURRENCE/AGGREGATE TRANSIT CASUALTY
10. $ 5,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/
AGGREGATE EXCESS OF $49,000,000 EACH OCCURRENCE/AGGREGATE LEXINGTON
11. $ 5,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/
AGGREGATE EXCESS OF $49,000,000 EACH OCCUURENCE/AGGREGATE NORTHBROOK
12. $ 5,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $49,000,000 EACH OCCURRENCE/AGGREGATE FIRST STATE
13. $10,000,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $74,000,000 EACH OCCURRENCE/AGGREGATE GRANITE STATE
PAGE 1 OF 2
Attached to and forming part of Policy No. TXS 101068
ISSUED TO: SCM CORPORATION, ETAL.
DATED AT: NEW YORK, NEW YORK
This 21ST _______ day of JANUARY
19--'
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/
GLD052020
0049-GLD-000052020
SCHEDULE OF UNDERLYING INSURANCES
SCM CORPORATION, ETAL. LAYERING
14. $ 7,500,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $74,000,000 EACH OCCURRENCE/AGGREGATE AMERICAN EXCESS
15. $* 5,'000,00 0 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ AGGREGATE EXCESS OF $74,000,000 EACH OCCURRENCE/AGGREGATE -
. _ . FIRST STATE
16. '$ 2,500,000 EACH OCCURRENCE/AGGREGATE P/O $25,000,000 EACH OCCURRENCE/ ~ AGGREGATE EXCESS OF $74,000,000 EACH OCCURRENCE/AGGREGATE GIBRALTER
PAGE 2 OF 2
Attached to and forming part of Policy No. TXS 101068
ISSUED TO: SCM CORPORATION, ETAL.
DATED AT:
NEW YORK, NEW YORK
This
21ST
day of JANUARY
19' ~ 82
By:
GLD052021
0049-G LD-000052021
CANCELLATION FOR NON-PAYMENT OF PREMIUM
It is agreed that irrespective of any other terms or conditions contained in this policy or endorsements attached thereto, this policy may be cancelled by the company, or by Baccala & Shoop Insurance Services, in their behalf, for non' payment ofany unpaid portion ofthe premium by delivering to the insured or bysending to the insured by mail, registered'or unregistered, at the insured's address as shown herein, not less than ten days written notice stating when the cancellation shall be effective.
All other terms and conditions remain unchanged.
The effective date of this endorsement is: JANUARY 1, 1982
This endorsement is attached to and made a part of Policy No< TXS l01^68
Issued To:
SCM CORPORATION, ETAL.
Broker/Agent: NBA EXCESS & SURPLUS LINES, INC.
Address: Date of Issue:
123 WILLIAM STREET NEW YORK, NEW YORK 10270
JANUARY 21, 1982
END. No:
BY.
-
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lit:IS 34
GLD052022
0049-GLD-000052022
. EMPLOYEE RETIREMENT AND INCOME SECURITY ACT EXCLUSION.'ENDORSEMENT
IN CONSIDERATION OF THE-PREMIUM CHARGED, SUCH INSURANCE AS IS AFFORDED BY THIS POLICY SHALL NOT APPLY WITH RESPECT TO ANY CLAIM OR-CLAIMS BROUGHT ABOUT AS A RESULT-OF ANY VIOLATION OF~ANY RESPONSIBILITIES, OBLIGATIONS OR DUTIES IMPOSED UPON FIDUCIARIES BY THE EMPLOYEE RETIREMENT AND INCOME SECURITY ACT OF 1974 OR AMENDMENTS THERETO.
THE EFFECTIVE DATE OF THIS ENDORSEMENT IS
JANUARY 1. 1982
AT NEW YORK r NEW YORK
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. THIS ENDORSEMENT IS ATTACHED TO AND MADE A PART OF: POLICY NUMBER TXS 101068
ISSUED TO: BROKER/AGENT . ADDRESS:
SCM CORPORATION. ETAL NBA EXCESS & SURPLUS LINES. INC 123 WILLIAM STREET
DATE OF ISSUE:
NEW YORK. NEW YORK 10270 1/21/82
BSIS - 180 (7/70)
GLD052023
0049-GLD-000052023
PUNITIVE DAMAGES LIMITATION
IT IS AGREED THAT THIS POLICY DOES NOT APPLY TO LIABILITY FOR PUNITIVE OR EXEMPLARY DAMAGES UNLESS SUCH LIABILITY IS COVERED BY VALID AND COLLECTIBLE UNDERLYING INSURANCE AS LISTED IN THE SCHEDULE OF UNDERLYING INSURANCE, FOR THE FULL LIMIT SHOWN THEREIN, AND THEN ONLY FOR SUCH HAZARDS FOR WHICH COVERAGE IS AFFORDED UNDER SAID UNDERLYING INSURANCE.
rirxcT.xs>rioft *i(MocMfMNTK JANUARY 1, 1982
atNEW YORK, NEW YORK
Al l o t mc h t er m* a n o c o n d it io n s n c ma in w n c n a n o m.
TunnooMcuiMTitinieiiigt uieiMflit u n er POLICY NUMBER TXS 101068
tiauco To
SCM CORPORATION, ETAL.
loi/Aainr Ao o k im
NBA EXCESS & SURPLUS LINES, INC. 123 WILLIAM STREET NEW YORK, NEW YORK 10270
Oa t s 09 Issue
SSS4 MIMS .
1/21/82 r BS( 300
ran
c m*, mb. 3
GLD052024
0049-GLD-000052024
SEEPAGE & POLLUTION ENDORSEMENT CLAUSE
THIS POLICY SHALL NOT APPLY TO PERSONAL INJURY OR PROPERTY DAMAGE ARISING OUT OF THE DISCHARGE, DISPERSAL, RELEASE DR ESCAPE OF:
1. SMOKE, VAPORS, SOOT, FUMES, ACIDS, ALKALIS," TOXIC CHEMICALS, LIQUIDS OR GASES, WASTE MATERIALS OR OTHER IRRITANTS, CONTAMINANTS OR POLLUTANTS INTO OR UPON LAND, THE ATMOSPHERE OR ANY WATERCOURSE OR BODY OF WATER; BUT THIS EXCLUSION DOES NOT APPLY IF SUCH DISCHARGE, DISPERSAL, RELEASE OR ESCAPE IS SUDDEN AND ACCIDENTAL:
T. orccr.vc or ..wnam JANUARY 1, 1982
** NEW YORK, NEW YORK
a l l orHct t c *m uncMtitMM MUM iwcmmia.
t ,.neT*POLICY NUMBER TXS 101068
...UCOTO
SCM CORPORATION, ETAL.
6*ot'A*cT
AOOMM D*f| o* lul
Mi*ra
NBA EXCESS & SURPLUS LINES 123 WILLIAM STREET NEW YORK, NEW YORK 10270
INC.
1/21/82 ^ inn
* CCL 200
( 86)
GLD052025
0049-GLD-000052025
. IT IS HEREBY AGREED THAT THE NAMED INSURED IS AMENDED . -:T0 READ 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 SPONSERED EMPLOYEE ASSOCIATIONS OR CLUBS, OF THE NAMED INSURED AND SYLVACHEM CORPORATION, JOTUN-BALT MORE COPPER PAINT COMPANY AND COMPANIA ENVASADORA LORETO S.A. AS JOINT VENTURES."
r......... .......
JANUARY 1, 1982
,, NEW YORK, NEW YORK
r- POLICY NUMBER TXS 101068
SCM CORPORATION, ETAL
*
NBA EXCESS & SURPLUS LINES, INC 123 WILLIAM STREET NEW YORK, NEW YORK 10038
12/1/82
KC
5
Ml IM
REVISED
/?
GLD052026
0049-GLD-000052026
FOLLOWING FORM WORDING FOR SCM CORPORATION
"IT IS AGREED AND UNDERSTOOD THAT EXCEPT ONLY WITH RESPECT*TO POLICY TERM, PREMIUM AND LIMIT OF LIA BILITY, THIS POLICY IS HEREBY AMENDED TO FOLLOW ALL THE TERMS, CONDITIONS, DEFINITIONSAND EXCLU-* SIONS OF THE FIRST LAYER UMBRELLA (INSURER: HART FORD, 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 THEFIRST LAYER HARTFORD UMBRELLA."
<*i
* o* mi
tu o*.ia m> enlm
Tmi [NDOlilUINT
n
JANUARY I, 1982
NEW YORK, NEW YORK
POLICY NUMBER TXS 101068
SCM CORPORATION, ETAL
*** ** " OtnortMuC
NBA EXCESS & SURPLUS LINES, INC. 123 WILLIAM STREET NEW YORK, NEW YORK 10038
12/1/82 Ml 200
KC OM.ML 6 Re v is e d
GLD052027
0049-GLD-000052027
IT IS HEREBY UNDERSTOOD AND AGREED THAT THE NOTICE OF CAN-' CELLATION AS STATED IN-THE POLICY DECLARATIONS IS AMENDED TO READ SIXTY (60) DAYS IN LIEU OF THIRTY (30) DAYS.
'.I u t i sr > utnmwTM JANUARY 1, 1982
*" **-** * *
-------------------------------- ---------------------tl||
NEW YORK.,
- unomuMwiMniawNMiMMtNnii POLICY NUMBER TXS 10106 8
NEW
YORK
SCM CORPORATION, ETAL.
aei*MCMv
NBA EXCESS & SURPLUS LINES, I 123 WILLIAM STREET NEW YORK, NEW YORK 10038
4-21--82
ic
Ul 200
GLD052028
0049-GLD-000052028
T IS HEREBY UNDERSTOOD AND AGREED THAT ITEMS #2,6 & 16 AS SHOWN UNDER TOTAL LIMITS OP LIABILITY-ALL UNDERLYING INSURANCE POLICIES IS AMENDED TO READ:
PRUDENTIAL REINSURANCE IN LIEU OF GIBRALTER
T, 'wmiii--iniintu JANUARY 1, 1982
*..-tom *-- rwitmii MiiMnwctMim,
NEW YORK,
POLICY NUMBER TXS 101068
NEW YORK
lumg To
SCM CORPORATION, ETAL
*
NBA EXCESS St SURPLUS LINES, INC. 123 WILLIAM STREET NEW YORK, NEW YORK 10038
ois>tMut 12/1/82 ' Mt 200
KC
m. 8
REVISED
* 'yf--------
GLD052029
0049-GLD-000052029