Laserfiche WebLink
BUSINESSOWNERS <br /> BP 05 23 01 15 <br /> <br />THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. <br /> <br />BP 05 23 01 15 © Insurance Services Office, Inc., 2015 Page 1 of 1 <br /> <br />CAP ON LOSSES FROM CERTIFIED ACTS OF TERRORISM <br /> <br />This endorsement modifies insurance provided under the following: <br /> <br />BUSINESSOWNERS COVERAGE FORM <br /> <br />The following provisions are added to the <br />Businessowners Policy and apply to Property and <br />Liability Coverages: <br />A. CAP ON CERTIFIED TERRORISM LOSSES <br />"Certified act of terrorism" means an act that is <br />certified by the Secretary of the Treasury, in <br />accordance with the provisions of the federal <br />Terrorism Risk Insurance Act, to be an act of <br />terrorism pursuant to such Act. The criteria <br />contained in the Terrorism Risk Insurance Act for <br />a "certified act of terrorism" include the following: <br /> 1. The act resulted in insured losses in excess of <br />$5 million in the aggregate, attributable to all <br />types of insurance subject to the Terrorism <br />Risk Insurance Act; and <br /> 2. The act is a violent act or an act that is <br />dangerous to human life, property or <br />infrastructure and is committed by an individual <br />or individuals as part of an effort to coerce the <br />civilian population of the United States or to <br />influence the policy or affect the conduct of the <br />United States Government by coercion. <br />If aggregate insured losses attributable to terrorist <br />acts certified under the Terrorism Risk Insurance <br />Act exceed $100 billion in a calendar year and we <br />have met our insurer deductible under the <br />Terrorism Risk Insurance Act, we shall not be <br />liable for the payment of any portion of the amount <br />of such losses that exceeds $100 billion, and in <br />such case insured losses up to that amount are <br />subject to pro rata allocation in accordance with <br />procedures established by the Secretary of the <br />Treasury. <br />B. The terms and limitations of any terrorism <br />exclusion, or the inapplicability or omission of a <br />terrorism exclusion, do not serve to create <br />coverage for loss or injury or damage that is <br />otherwise excluded under this Policy. <br />Exhibit B <br />Docusign Envelope ID: 7D12103B-E5DC-46A2-B6BA-3BD5268ECDA5