Common use of EXCESS OF POLICY LIMITS Clause in Contracts

EXCESS OF POLICY LIMITS. In the event the Loss includes an amount in excess of the Company's Policy limit, such amount, as provided for in the definition of Loss, in excess of the Company's Policy limit shall be added to the amount of the Company's Policy limit, and the sum thereof shall be covered hereunder, subject to the Reinsurer's limit of liability appearing in the COVER ARTICLE of this Agreement. However, this Article shall not apply where the Loss has been incurred due to the fraud of a member of the Board of Directors or a corporate officer of the Company acting individually or collectively or in collusion with any individual or corporation or any other organization or party involved in the presentation, defense or settlement of any claim covered hereunder.

EXCESS OF POLICY LIMITS. In the event the Loss includes an amount in excess of the Company's Policy limit, 100% of such amount, as provided for in the definition of Loss, amount in excess of the Company's Policy limit shall be added to the amount of the Company's Policy limit, and the sum thereof shall be covered hereunder, subject to the Reinsurer's limit of liability appearing in the COVER ARTICLE Cover Article of this AgreementContract. However, this Article shall not apply where the Loss has been incurred due to by the fraud Company as a result of a member any final legal adjudication of the Board of Directors fraudulent and/or criminal act by any officer or a corporate officer director of the Company acting individually individually, or collectively collectively, or in collusion with any individual or corporation corporation, or any other organization organization, or party involved in the presentation, or defense or of settlement of any claim covered hereunder.