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This excerpt taken from the TPP 8-K filed Feb 28, 2008. Insurance We carry insurance coverage we believe to be consistent with the exposures associated with the nature and scope of our operations. As of December 31, 2007, our current insurance coverage includes (1) commercial general liability insurance for liabilities to third parties for bodily injury and property damage resulting from our operations; (2) workers’ compensation coverage to required statutory limits; (3) automobile liability insurance for all owned, non-owned and hired vehicles covering liabilities to third parties for bodily injury and property damage, and (4) property insurance covering the replacement value of all real and personal property damage, including damages arising from earthquake, flood damage and business interruption/extra expense. For select assets, we also carry pollution liability insurance that provides coverage for historical and gradual pollution events. All coverages are subject to certain deductibles, limits or sub-limits and policy terms and conditions. We also maintain excess liability insurance coverage above the established primary limits for commercial general liability and automobile liability insurance. Limits, terms, conditions and deductibles are commensurate with the nature and scope of our operations. The cost of our general insurance coverages has increased over the past year reflecting the changing conditions of the insurance markets. These insurance policies, except for the pollution liability policies, are through EPCO (see Note 16). This excerpt taken from the TPP 8-K filed Jun 30, 2006. Insurance. Each of the TEPPCO Entities and
their subsidiaries is insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as are reasonably
adequate and customary in the businesses in which they are engaged; except as
disclosed in the Disclosure Package and the Final Prospectus, no TEPPCO Entity
or any of its subsidiaries has received written notice from any insurer or
agent of such insurer that substantial capital improvements or other
expenditures will have to be made in order to continue such insurance; all
policies of insurance insuring the TEPPCO Entities and their subsidiaries or
their respective businesses, assets, employees, officers and directors are
outstanding and duly in force on the date hereof and will be outstanding and
duly in force on the Closing Date and any settlement date, as the case may be.
(tt)This excerpt taken from the TPP 8-K filed May 9, 2005. Insurance. Each
of the TEPPCO Entities and their subsidiaries is insured by insurers of
recognized financial responsibility against such losses and risks and in such
amounts as are reasonably adequate and customary in the businesses in which
they are engaged; no TEPPCO Entity or any of its subsidiaries has received
written notice from any insurer or agent of such insurer that substantial
capital improvements or other expenditures will have to be made in order to
continue such insurance; all policies of insurance insuring the TEPPCO Entities
and their subsidiaries or their respective businesses, assets, employees,
officers and directors are outstanding and duly in force on the date hereof and
will be outstanding and duly in force on the Closing Date and any settlement
date, as the case may be; the TEPPCO Entities and its subsidiaries are in
compliance with the terms of such policies and instruments in all material
respects; and there are no claims by the TEPPCO Entities or any of their
subsidiaries under any such policy or instrument as to which any insurance
company is denying liability or defending under a reservation of rights clause;
neither the TEPPCO Entities nor any of their subsidiaries has been refused any
insurance coverage sought or applied for; and the Partnership has no reason to
believe that it will not be able to renew its existing insurance coverage for
the TEPPCO Entities and their subsidiaries as and when such coverage expires or
to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not reasonably be expected to have a
Material Adverse Effect.
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