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Agmt20 ImageX,inc
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Last modified
12/27/2022 11:23:11 AM
Creation date
12/27/2022 11:22:02 AM
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Agreement
Date
7/9/2020
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e. The following Is added to SECTION II - <br />UADILITY. D. Llabilhy and Medical Expenses <br />Limits of Insumn4s: <br />Product Recall Expense tlndts of Insumnos <br />a. The Limits of Insurance shown In the <br />SUMMARY OF COVERAGM of this <br />endorsement and the rules staged below <br />fix the moat that we will pay under this <br />Product Recall Expense Coverage <br />regardless of the number of: <br />(1) Insureds; <br />(1) "Covered Recalls' Initlated; or <br />(3) Number of "your products" <br />withdrawn. <br />b. The Product Recall Expense Aggregate <br />Limit Is the most that we will reimburse <br />you for the sum of all "product recall <br />expenses" Incurred for all 'covered <br />recalls' Initiated during the policy period. <br />c. The Product Recall Each Occurrence <br />Limit is the most we will pa In <br />connection with any one defect or <br />deficiency. <br />d. All "product recall expeneea" In <br />connection with substantially the some <br />general harmful condttton will be <br />deemed to arlse out of the some defect <br />or deficiency and considered one <br />"occurrence. <br />a. Any amount reimbursed for "product <br />recall expenses" in connection with any <br />one 'occurrence" will reduce the amount <br />of the Product Recall Expense Aggregate <br />Limit available for reimbursement of <br />•product recall expenses' In connection <br />with any other defect or deffclency. <br />f. Ii the Product Recall Expense Aggregate <br />Limit has been reduced by <br />reimbursement of 'product recall <br />expenses" to an amount that In leas than <br />the Product Recall Expense Each <br />Occurrence Limit, the remaining <br />Aggregate Limit Is the moat that will be <br />available for reimbursement of 'product <br />recall expenses" In connection with any <br />other defect or deficiency. <br />g. Product Recall Deductible <br />We wili only pay for the amount of <br />"product recall expenses" which are in <br />excess of the $500 Product Recall <br />Deductible. The Product Recall <br />Deductible applies separately to each <br />"covered recall". The limits of insurance <br />will not be reduced by the amount of this <br />deductible. <br />We may, or will If required by law, pay all <br />or any part of any deductible amount, If <br />applicable. Upon notice of our payment <br />of a deductible amount, you shall <br />promptly reimburse us for the part of the <br />deductible amount we paid. <br />The Product Recall Expense Limits of <br />Insurance apply separately to each <br />consecutive annual period and to any <br />remaining period of leas than 12 months. <br />starting with the beginning of the policy <br />period shown in the Declarations, univea the <br />policy period is extended after Issuance for <br />an additional period of lase than 12 months. <br />In that case, the additional period will be <br />deemed part of the last preceding period for <br />the purposes of determining the Limits of <br />insurance. <br />d. The following to added to SECTION Il - <br />UA131UTY, E. LlabliL and Medical EWnaa <br />General Conditions,Dulles in the Event of <br />Occurrence, Offense, Maim or Suit <br />You must see to It that the following are <br />done In the event of an actual or anticipated <br />"covered recall' that may result in 'product <br />recall expense": <br />(1) Give us prompt notice of any diecovery <br />or notification that "your product" must <br />be withdrawn or recalled. Include a <br />description of "your product* and the <br />reason for the withdrawal or recall; <br />(2) Cease any further reieaae, shipment, <br />consignment or any other method of <br />distribution of like or similar products <br />until It has been determined that all <br />such products are free from detects that <br />could be a cause of loss under this <br />Insurance. <br />e. For the purposs of this endorsement, the <br />following definitions are added to SECTION <br />Ii - LIA$IIJTY, F. I-labltity and Medical <br />Expenses Daffnttlons; <br />1. "Covered recall" means a recall made <br />necessary because you or a government <br />body has determined that a known or <br />suspected defect, deficiency, <br />Inadequacy, or dangerous condition In <br />`your product* has resulted or will result <br />In 'bodily Injury' or 'property damage'. <br />2. 'Product recall expense(ar means: <br />a. Necessary and reasonable expenses <br />for: <br />(1) Communications, Including radlo <br />or television announcements or <br />printed advertisements Including <br />stationary, envelopes and <br />Postage; <br />391400606 16 Includes oopyrtgtbod rrmiertelo or Irmurw= Servlams Otfloea. Inc. with ito pe... ton. Pana 5 of 6 <br />
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