The Company and each Subsidiary maintain insurance covering their respective properties as the Company reasonably deems adequate and as is customary for companies engaged in similar businesses. Such insurance protects the Company and the Subsidiaries against losses and risks to an extent which is necessary and reasonably adequate to protect the Company and each Subsidiary and their respective businesses and includes, but is not limited to, reasonable directors’ and officers’ insurance coverage. None of the Company nor any Subsidiary has reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business. There is no material insurance claim made by or against the Company or any Subsidiary pending, outstanding, or, to the knowledge of the Company, threatened, and, to the knowledge of the Company, no facts or circumstances exist which would reasonably be expected to give rise to any such claim, and all due premiums in respective thereof have been paid.