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DUE DILIGENCE

It is a condition of this insurance that the Assured shall exercise due care and diligence in the conduct of all operations covered hereunder, utilizing all safety practices and equipment generally considered prudent for such operations, and in the event any hazardous condition develops with respect to an insured property, the Assured shall at its sole expense make all reasonable efforts to prevent the occurrence of a loss insured hereunder.

4. DEFENCE

Insurers shall not be called upon to assume the handling or control of the defense or settlement of any claim made against the Assured but Insurers shall have the right, but not the duty, to participate with the Assured in the defense or settlement of any claim which may be indemnifiable in whole or in part.

Insurers will pay any defense expenses incurred after exhaustion of the Deductible/ Excess, provided the prior written consent of Insurers is obtained before those defense expenses are incurred and subject to Insurers' limits of liability.

5. SUBROGATION OF RIGHTS AND WAIVER OF
SUBROGATION

The Insurers shall be subrogated to the extent of any payment hereunder to all the Assured's rights of recovery, and the Assured shall do nothing after loss to prejudice such rights and shall do everything necessary to secure such rights.

However, the Insurers shall not have the right to be subrogated to or to require assignment of the Assured's right or rights of recovery against:

A. any party with whom the Assured has effected contracts or agreements customary to the conduct of the business of the Assured and under which the Assured may have assumed liability or granted releases there from, without Prejudice to this Policy, provided such contracts or agreements, written, insofar as they effect any loss hereunder, are concluded prior to such loss;

В. any of the Assureds under this Policy, or their directors, officers, stockholders, partners or employees.

BANKRUPTCY AND INSOLVENCY

In the event of the bankruptcy or insolvency of the Assured or any entity comprising the Assured, the Insurers shall not be relieved thereby of the payment of any claims recoverable hereunder because of such bankruptcy or insolvency.

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