CALIFORNIA JPIA ALL RISK PROPERTY PROGRAM REINSURANCE COVERAGE DETAIL. A+, Strong Financial Security. Non-Admitted

Transcription

1 ALL RISK PROPERTY PROGRAM REINSURANCE COVERAGE DETAIL NAMED INSURED PRIMARY POLICY REINSURED BY California JPIA and its Member Agencies Lexington Insurance Company Primary Policy AIG Europe Ltd. #B W13 Excess policies per Schedule of Insurers *A.M. BEST GUIDE RATING *STANDARD & POOR S RATING CALIFORNIA STATUS POLICY TERM COVERAGE COVERED PROPERTY A, Excellent, Financial Size Category XV Greater than $2,000,000, 000 A+, Strong Financial Security July 1, 2013, 12:01AM to July 1, 2014, 12:01AM All Risk on all property of every description of an insurable nature, both real (including on premises vehicles) and personal (including improvements and betterments) of the insured, or property of others in the care, custody or control of the Insured for which the Insured is liable under obligation to keep insured. The interest of additional covered parties and/or loss payees are automatically included. On properties reported by member on the property schedule on file with the company and Alliant Insurance Services, Inc. Per Reported Values: Real Property Personal Property Business Interruption Rental Interruption / Extra Expense Bond Revenue Payments Business Continuation Expense Electronic Data Processing, Data Processing Media Mobile / Contractors Equipment / Unlicensed Vehicles Property in Course of Construction Earthquake Sprinkler Leakage Building Laws, Demolition Costs / Undamaged Buildings Newly Acquired or Constructed Buildings Accounts Receivable Valuable Papers Fine Arts Transit *See last page for additional details. 1 Phone Fax License No. 0C368

2 ALL RISK PROPERTY PROGRAM REINSURANCE COVERAGE DETAIL LIMITS / COVERAGE $500,000,000 Per Occurrence All Risks of Direct Physical Loss or Damage to Real and Personal Property and Business Interruption as more fully defined in the policy form. (Limit shared by all program members) $ 10,000,000 Per Occurrence Flood Coverage for all Locations not scheduled for Earthquake Sub-limits $ 50,000,000 Maximum Contract Value as respects automatic coverage for real property in the course of construction for insured member locations including new locations and remodeling projects, additions and modifications including foundations and building materials. This coverage is first party coverage and does not provide coverage to contractors. There is no premium charge until the job is completed and a Permit to Occupy has been issued. $ 25,000,000 Newly Acquired Property per building or structure for existing insured members. Reported within 90 days. $ 50,000,000 Newly Acquired Property per existing insured member. Reported within 90 days $ 25,000,000 Newly Acquired Property per building or structure for newly insured members. Reported within 90 days $ 50,000,000 Newly Acquired Property per newly insured member. Reported within 90 days $ 25,000,000 Newly Acquired for all piers, docks, wharves and dams per member reported within 90 days. $ 50,000,000 Unnamed or Temporary Locations $ 500,000 Animals $ 250,000 Newly Acquired Fine Arts per member $ 100,000 Limited Mold, Mildew, Fungus $10,000 Per Occurrence $100,000,000 Terrorism EXTENSIONS OF COVERAGE Personal Effects Fire Fighting Expenses Off Premises Services Clause Architects and Engineers Fees / Loss Adjustment Expenses Expediting Expenses Debris Removal Building Laws / Demolition Cost 2 Phone Fax License No. 0C368

3 ALL RISK PROPERTY PROGRAM REINSURANCE COVERAGE DETAIL EXTENSIONS OF COVERAGE (Cont) PROPERTY NOT COVERED (Including but not limited to) PERILS NOT COVERED (Including but not limited to) VALUATION Increased Cost of Construction Errors and Omission Animals Valuable Papers Terrorism Land Bodies of Water Aircraft Tees, Greens, Fairways, Landscaping, Standing Timber, Growing Crops (unless declared) Piers, Bridges, Retaining Walls, Docks/ Wharves (unless declared) Dams (unless declared) Watercraft (unless declared) Earthquake (unless purchased) Nuclear Hazard War and Military Action Power Failure / Service Interruption Dishonest Acts of Employees Developing Defects (Wear and Tear) Hazard Substance Pollutants / Contaminants Mysterious Disappearance Costs incurred by a Public Adjuster On all real and personal property, including property of others at the replacement value, that is replacement with materials of like kind and quality, at the time of the loss without depreciation. If property is not replaced within a reasonable period of time, then actual cash value. Actual Loss Sustained for Time Element Coverages DEDUCTIBLES All Risk $ 5,000 Per occurrence, all perils and property including emergency vehicles and vehicles on premises Flood $ 100,000 Per occurrence except; $ 250,000 Locations in Flood Zones A and V Per Member Per Occurrence $ 500,000 Per occurrence, per pier for Flood and/or Wavewash CLAIMS REPORTING: Complete the incident reporting form on the California JPIA website, CJPIA.org and report to: Alliant Insurance Services, Inc. Attn: Robert Frey 100 Pine St., 11 th Floor San Francisco, CA Phone: Fax: Phone Fax License No. 0C368

4 ALL RISK PROPERTY PROGRAM REINSURANCE COVERAGE DETAIL BROKER Alliant Insurance Services, Inc. Newport Beach, CA Donald H. McLean. Executive Vice President Dennis Mulqueeney, Senior Vice President Gail White, Account Executive THIS SUMMARY IS FOR INFORMATION PURPOSES ONLY AND DOES NOT AMEND, EXTEND OR ALTER THE POLICY IN ANY WAY PLEASE REFER TO THE POLICY FORM FOR COMPLETE COVERAGE TERMS, CONDITIONS AND EXCLUSIONS This summary of insurance is provided as a matter of convenience and information only. All information included in this summary, including but not limited to personal and real property values, locations, operations, products, data, automobile schedules, financial data and loss experience, is based on facts and representations supplied to Alliant Insurance Services, Inc. by you. This summary does not reflect any independent study or investigation by Alliant Insurance Services, Inc. or its agents and employees. Please be advised that this summary is also expressly conditioned on there being no material change in the risk between the date of this summary and the inception date of the proposed policy (including the occurrence of any claim or notice of circumstances that may give rise to a claim under any policy which the policy being proposed is a renewal or replacement). In the event of such change of risk, the insurer may, at its sole discretion, modify, or withdraw this summary whether or not this offer has already been accepted. This summary is not confirmation of insurance and does not add to, extend, amend, change, or alter any coverage in any actual policy of insurance you may have. All existing policy terms, conditions, exclusions, and limitations apply. For specific information regarding your insurance coverage, please refer to the policy itself. Alliant Insurance Services, Inc. will not be liable for any claims arising from or related to information included in or omitted from this summary of insurance Alliant embraces a policy of transparency with respect to its compensation from insurance transactions. Details on our compensation policy, including the types of income that Alliant may earn on a placement, are available on our website at For a copy of our policy or for any inquiries regarding compensation issues pertaining to your account you may also contact us at: Alliant Insurance Services, Inc., Attention: General Counsel, 701 B Street, 6th Floor, San Diego, CA Analyzing insurers' over-all performance and financial strength is a task that requires specialized skills and in-depth technical understanding of all aspects of insurance company finances and operations. Insurance brokerages such as Alliant Insurance typically rely upon rating agencies for this type of market analysis. Both A.M. Best and Standard and Poor's have been industry leaders in this area for many decades, utilizing a combination of quantitative and qualitative analysis of the information available in formulating their ratings. A.M. Best has an extensive database of nearly 6,000 Life/Health, Property Casualty and International companies. You can visit them at For additional information regarding insurer financial strength ratings visit Standard and Poor's website at Our goal is to procure insurance for you with underwriters possessing the financial strength to perform. Alliant does not, however, guarantee the solvency of any underwriters with which insurance or reinsurance is placed and maintains no responsibility for any loss or damage arising from the financial failure or insolvency of any insurer. We encourage you to review the publicly available information collected to enable you to make an informed decision to accept or reject a particular underwriter. To learn more about companies doing business in your state, visit the Department of Insurance website for that state. Important Notice: The non-admitted & reinsurance reform act (NRRA) goes into effect on July 21, Accordingly, surplus lines tax rates and regulations are subject to change which could result in an increase or decrease of the total surplus lines taxes and/or fees owed on this placement. If a change is required, we will promptly notify you. Any additional taxes and/or fees owed must be promptly remitted to Alliant Insurance Services, Inc. 4 Phone Fax License No. 0C368

5 ALL RISK PROPERTY COVERAGE DEFINITIONS Real Property: Permanently installed equipment or fixtures; machinery used for service of the building; yard fixtures; fire extinguishing equipment; outdoor furniture; floor covering; appliances used for cooking, dish-washing, refrigerating, ventilating or laundering. Personal Property: All personal property you own, including furniture, fixtures, and equipment, tenants improvements and betterments, labor, materials or services furnished or arranged by you, or personal property of others or within 1,000 ft. of the premises in the open (or within a vehicle). Business Income Form: Loss to net profit before taxes that would have been earned or incurred and continuing normal operating expenses (including payroll) incurred during the time required to repair, rebuild or replace damaged property. Rental Income - Bond Obligation: Loss of anticipated gross rental income from tenant occupancy when building becomes untenable due to covered property damage. Bond Obligation: extends the definition of rental income to include any amount in excess of normal rental income which is an obligation due under the terms and conditions of any revenue bond, certificate of participation or similar instrument. Extra Expense: Expenses, other than normal operating expenses, incurred to avoid or minimize the suspension of business operations. Bond Revenue Payments: Financial instrument to provide construction and facilities loans to public entities. Business Continuation Expense: Covers expenses incurred to continue normal operations which are over and above expenses you would have occurred had there been no loss. Electronic Data Processing Equipment: Data processing systems including equipment and component parts thereof, owned by you or leased, rented or under your control as reported to the company. Also included is the active data processing media as defined within the policy and Extra Expense incurred. Blank media as well as reproduction costs are covered by the policy form. 1

6 ALL RISK PROPERTY COVERAGE DEFINITIONS Mobile and Scheduled Equipment: 1. Vehicles designed principally for off-road use, i.e., bulldozers, farm machinery, forklifts, etc. 2. Vehicles that travel on crawled treads. 3. Vehicles whether self-propelled or not which provide mobility to permanently mounted power cranes, shovels, loaders, diggers, drills or road construction or resurfacing equipment such as graders, scrapers or rollers. 4. Non self-propelled vehicles that provide mobility to permanently attached equipment of the following types: air compressors, pumps and generators including spraying, welding, building cleaning, or cherry pickers and similar device used to raise and lower workers. 5. Non Mobile Equipment Vehicles used for snow removal, road maintenance (other than construction or resurfacing), or street cleaning equipment. If coverage desired, they should be scheduled. Course of Construction (Builder s Risk): Coverage is provided for buildings while in the course of construction. Covers foundations and building materials but only while at the premises or within 100 feet thereof. Building Ordinance: Coverage is provided for values of undamaged portions of building(s) or structures and cost of demolishing and clearing the site of the undamaged portions when demolishing is necessary due to the enforcement of any law or ordinance regulating the construction, repairs, replacement, demolition, zoning or land use in force at the time of the loss or damage. Newly Acquired Property: Coverage is provided for personal property and equipment acquired after the inception of the policy. Class A and Class B Buildings Class A means newly acquired or constructed building(s) situated at a common premises including related structures which are protected by automatic sprinklers or other fire suppression systems which have been designed and installed in accordance with the National Fire Protection Association Codes or similar International Codes. Automatic protection is to be provided in all areas, which have combustible construction or occupancy. No more than ten percent (10%) of the building area is to be of frame construction. The property must be situated in an area which qualifies at least an ISO Public Protection Class 8 or its equivalent. Class B means newly acquired or constructed buildings, which do not qualify as Class A. Earthquake Sprinkler Leakage (EQSL): Coverage is provided for damage resulting from water damage caused by a break in the sprinkler system as a result of an earthquake. Accounts Receivable: All sums due you from customers, provided you are unable to collect the sums because of direct result of loss of or damage to records of accounts receivable; including interest charges on any loan to offset impaired collections pending repayment of those sums made uncorrectable by loss. 2

7 ALL RISK PROPERTY COVERAGE DEFINITIONS Valuable Papers: Direct physical loss or damage to valuable papers and records while inside or outside the premises. Valuable papers includes books, maps, films, drawings, deeds, mortgages and manuscripts, etc. Cost to research, replace or restore the loss information is covered. Fine Arts: Scheduled works of art while located at an insured premises or on exhibition within the territorial limits of the policy. Agreed Amount Endorsement: Waives the policy coinsurance requirements. Builder s Risk Renovations: Covers the value of improvements, alterations or repairs to buildings or structures under renovation. Consequential Loss: Covered Loss as a result of a sequence of events that causes physical loss or damage not otherwise excluded to other Covered Property. We will cover the resulting physical loss or damage and the actual loss sustained under Business Income coverage during the time period as would be required with the exercise of due diligence and dispatch to repair or replace the damaged property. Consequential Reduction in Value: Coverage for the reduction in value of insured components or parts of products due to Covered Causes of Loss. Contingent Business Income: Covers any income loss sustained due to damage or destruction of property at a Contributing or Recipient property. Contingent Liability From Operation of Building Laws: Covers the cost of demolition of the undamaged portion of the building when there is need for demolition occasioned by the enforcement of a state or municipal law or ordinance. Cost of Inventory: Covers cost of conducting an inventory, appraisal and preparation of loss information in connection with a covered loss. Company will not pay for a public adjuster. Debris Removal: Expenses incurred in the removal of all debris from the property covered in the policy which were incurred due to property damage to insured property. Demolition Cost: Cost of demolishing any undamaged portion of covered buildings, including the cost of clearing the site. 3

8 ALL RISK PROPERTY COVERAGE DEFINITIONS Earthquake: Direct Physical Loss or damage to covered property caused by earth movement. All earth movement that occurs within any seventy-two (72) hour period will constitute a single earth movement. Earth movement means: Any earth movement (other than sinkhole collapse), such as: Earthquake; Landslide; Mine subsidence; Earth sinking, rising, shifting; or Tsunami; Volcanic Action, explosion or effusion including Airborne volcanic blast or airborne shock waves, ash, dust or particulate matter or Lava flow. Elevator Collision: Direct loss to elevators caused by accidental collision of any part of an elevator or of anything carried thereon with another part of the elevator or with another object. Errors and Omissions Endorsement: States that coverage will not be prejudiced by an unintentional delay or error or omission in making required reports or any unintentional error in the amount or description of interests insured if notice of any such error or omission is given to the Company as soon as it becomes known to you. Fire & Ambulance Vehicles: Covers on an "All Risk" basis direct physical damage to vehicles you own or lease and the equipment on the vehicle, excluding earthquake and flood. Coverage includes collision with another object or vehicle and theft. Fire Department Service Charge: Covers your liability for fire department service charges assumed by a contract prior to loss or required by local ordinance. Flood: General or temporary condition of partial or complete inundation of normally dry land areas caused by the unusual and rapid accumulation or runoff of surface waters; waves; tides; tidal waves; overflow of any body of water; and their spray, all whether driven by wind or not; mudslide or mudflow. Functional Replacement Cost: Covers the cost to replace property with similar property intended to perform the same function when replacement with identical property is impossible or unnecessary. Increased Cost of Construction: Covers the increased cost of repair, rebuilding or construction resulting from the enforcement of the minimum requirements of any state or municipal law or ordinance regulating construction or repair. Newly Acquired Locations: Real Property not owned prior to the inception date of the policy but rather acquired during the term of the policy at any location (must be reported immediately). 4

9 ALL RISK PROPERTY COVERAGE DEFINITIONS Occurrence Limit of Liability: States the Company's limit of liability will not exceed the limit stated within the policy in any one disaster or event per city. Personal Property of Others and Personal Effects: Personal property of others while in your care, custody and control for which you are liable (extension does not apply to theft). Pollutant Clean Up and Removal: Covers your expense to extract "pollutants" from land or water or to remove property, which contains pollutants if caused by a loss, covered under the policy. Expenses must be reported within 180 days of damage or before end of policy period. Preservation of Property: Coverage for property, while it is being moved or is temporarily stored at another location in order to preserve it from loss or damage by a covered cause of loss. Property Covered: Includes property leased by the named insured where the insured is required to maintain property coverage, provided property is scheduled on the policy. Property in Transit: Coverage for your property or property in your care, custody and control while being transported by your vehicles, by truck drivers or by other commercial carriers. Property Off Premises: Property temporarily at a location you do not own, lease or operate is covered by this contract. Radio and Telephone Equipment: Radio and telephone equipment while in vehicles. Rental Income Value: (1) The total anticipated Gross Rental Income from tenant occupancy as furnished and equipped by the Insured, and (2) The amount of all charges which are the legal obligation of the tenant(s) and which would otherwise be obligations or the Insured, and (3) The fair rental value of any portion of said property which is occupied by the Insured, and (4) Any amount in excess of 1, 2 and 3 (above) which is an obligation due under the terms and conditions of any revenue bond, Certificate of Participation or similar instrument. Replacement Cost: Means the amount actually and necessarily expended in repairing or replacing the property with identical property on the same premises and intended for the same occupancy or use. Replacement cost does not apply to carpeting, cloth awnings, air conditioners, domestic appliances and outdoor equipment. Stated Amount Per Vehicle: Agrees that the value stated on the policy per vehicle is the actual value of the vehicle. Losses are adjusted using this reported value. 5

10 ALL RISK PROPERTY COVERAGE DEFINITIONS Tenants Improvements and Betterments: Fixtures, alterations, installations or additions comprising a part of the building, which are permanent and not legally removable, which are owned by you and in which you have an insurable interest. Vacancy Permit: Simply states that the vacancy loss condition exclusion within the policy does not apply. Valuation: In case of loss or damage to covered property, the basis of adjustment of any claim: 1. Is on a Replacement Cost basis. Replacement Cost shall be the cost to repair, rebuild or replace the damaged property, except for property which is obsolete and useless to you, without deduction for depreciation with materials of like kind, quality and capacity at the same or another site, subject to the smaller of (a) The cost to repair (b) The cost to rebuild or replace on the same site with new materials of like kind, quality and capacity (c) The cost actually and necessarily expended in repairing, rebuilding or replacing on the same or another site, but not exceeding the operating capacity that existed at the time of the loss 2. The following property shall be valued as specified below: (a) On raw materials, supplies and other merchandise not manufactured by you, the replacement cost; (b) On stock in process, the value of raw materials and labor expended plus the property proportion of overhead charges; (c) On finished stock manufactured by you, the regular cash selling price at the premises where the loss occurs, less all discounts and charges to which the merchandise would have been subject had not loss occurred; (d) In case of loss or damage to any part of a pair or set we may (1) repair or replace any part to restore the part or set to its value before the loss or damage; or (2) pay the difference between the value of the pair or set before and after the loss or damage. Vehicles On Premises: Coverage is provided for automobiles scheduled on the policy while they are located on your premises. Collision coverage is excluded. Vehicles Physical Damage: Covers on an "All Risk" basis direct physical damage to your owned or leased auto including collision with another object or vehicle, excluding earthquake and flood Automobile theft is covered. THE DEFINITIONS AND DESCRIPTIONS ARE ABBREVIATED AND SHOULD BE USED ONLY AS A QUICK REFERENCE OF COVERAGE. 6

11 ALL RISK PROPERTY COVERAGE MEMBER ROSTER Agoura Hills Agoura Hills Calabasas Community Center Authority Aliso Viejo Apple Valley Arroyo Grande Artesia Atascadero Bellflower Bell Gardens Belvedere Big Bear City Community Services District Big Bear Lake Bishop Black Gold Library Cooperative Library System Bradbury Brawley Buellton Calabasas Calexico California JPIA Camarillo Carpinteria Cerritos Cerritos Performing Arts Center Chino Hills Claremont Coachella Valley Association of Governments Coastal Animal Services Authority Commerce Cudahy Dana Point Desert Recreation District Diamond Bar Duarte Eastern Sierra Transit Authority (ESTA) El Centro Fillmore Fountain Valley Goleta Grand Terrace Grover Beach Guadalupe Hawaiian Gardens Hidden Hills Imperial Indian Wells Indio Irwindale La Canada Flintridge La Habra Heights L.A. Impact La Mirada La Palma La Puente La Verne Laguna Niguel Laguna Woods Lake Elsinore Lake Forest Lakewood Lawndale Loma Linda Lomita Los Alamitos Malibu Mammoth Lakes Midpeninsula Regional Open Space District Mission Viejo Monterey Peninsula Regional Park District Moorpark Morro Bay Mountain Area Regional Transit Authority Needles Norwalk Ojai Palm Desert Palos Verdes Estates Paramount Paso Robles Pico Rivera Pismo Beach Port Hueneme Port Hueneme Housing Authority Poway Rancho Palos Verdes Rolling Hills Rolling Hills Estates Rosemead San Clemente San Dimas San Gabriel San Juan Capistrano 1

12 ALL RISK PROPERTY INSURANCE JULY 1, 2011 TO JULY 1, 2012 MEMBER ROSTER San Luis Obispo San Marcos San Marino Santa Fe Springs Santa Paula Seal Beach Seaside Sierra Madre Signal Hill Solvang South El Monte South Pasadena Southeast Area Animal Control Authority (SEAACA) Southern California Association of Governments (SCAG) Temple City Ventura Port District Villa Park Walnut West Cities Police Communications JPA West Hollywood Westlake Village 2

13 ALL RISK PROPERTY PROGRAM SCHEDULE OF INSURERS PRIMARY ALL RISK COVERAGE PROVIDED ON STRUCTURES, CONTENTS & VEHICLES Limit: $500,000,000 Per Occurrence REINSURED BY AIG EUROPE LTD. LEXINGTON INSURANCE COMPANY $25,000,000 POLICY #B W13 A, Strong Financial Security A, Excellent, Financial Size Category 15; Greater than $2,000,000,000 FLOOD FOR NON-EARTHQUAKE LOCATIONS Sub-limit: $10,000,000 Annual Aggregate EXCESS ALL RISK INCLUDING EARTHQUAKE, EQ SPRINKLER LEAKAGE & FLOOD Limit: $50,000,000 Excess of $25,000,000 LLOYDS OF LONDON $8,750,000 LLOYDS OF LONDON $8,750,000 ARCH SPECIALTY $2,500,000 POLICY # B W13 A+, Strong Financial Security A, Excellent; Financial Size Category 15; Greater than $2,000,000,000 POLICY # B W13 A+, Strong Financial Security A, Excellent; Financial Size Category 15; Greater than $2,000,000,000 POLICY #ESP A+ Strong Financial Security A+, Superior, Financial Size Category 11; $250,000,000 to $500,000,000 IRONSHORE POLICY # $2,500,000 Not Rated A-, Excellent, Financial Size Category 13; $1,250,000,000 to $1,500,000,000 1

14 ALL RISK PROPERTY PROGRAM SCHEDULE OF INSURERS ARROWHEAD-EMPIRE INDEMNITY $20,000,000 HISCOX (LLOYDS) $2,500,000 POLICY #XPP AA-, Very Strong Financial Security A+, Superior; Financial Size Category 15; Greater than $2,000,000,000 POLICY #URS A+, Strong Financial Security A, Excellent; Financial Size Category 15; Greater than $2,000,000,000 WESTPORT INSURANCE CORPORATION POLICY # $5,000,000 Admitted AA-, Very Strong Financial Security A+, Excellent, Financial Size Category 15; Greater than $2,000,000,000 EXCESS ALL RISK INCLUDING EQ SPRINKLER LEAKAGE & FLOOD AND AUTO PHYSICAL DAMAGE AND EXCLUDING EARTHQUAKE Limit: $425,000,000 Excess $75,000,000 LANDMARK AMERICAN INS CO $425,000,000 POLICY #LHD Not Rated A, Excellent, Financial Size Category 13; $1,250,000,000 to $1,500,000,000 SUBLIMIT: $25,000,000 EQ SPRINKLER LEAKAGE EXCESS UNDERLYING $75,000,000 EQ SPRINKLER LEAKAGE SUBLIMIT: $10,000,000 FLOOD ANNUAL AGGREGATE EXCESS UNDERLYING $150,000,000 FLOOD ANNUAL AGGREGATE TERRORISM SECTION B Limit: $100,000,000 Per Occurrence/Annual Aggregate REINSURED BY AIG EUROPE LTD. LEXINGTON INSURANCE COMPANY $100,000,000 POLICY #B W13 A, Strong Financial Security A, Excellent; Financial Size Category 15; Greater than $2,000,000,000 2

15 ALL RISK PROPERTY PROGRAM SCHEDULE OF INSURERS Alliant Disclosure This summary of insurance is provided as a matter of convenience and information only. All information included in this summary, including but not limited to personal and real property values, locations, operations, products, data, automobile schedules, financial data and loss experience, is based on facts and representations supplied to Alliant Insurance Services, Inc. by you. This summary does not reflect any independent study or investigation by Alliant Insurance Services, Inc. or its agents and employees. Please be advised that this summary is also expressly conditioned on there being no material change in the risk between the date of this summary and the inception date of the proposed policy (including the occurrence of any claim or notice of circumstances that may give rise to a claim under any policy which the policy being proposed is a renewal or replacement). In the event of such change of risk, the insurer may, at its sole discretion, modify, or withdraw this summary whether or not this offer has already been accepted. This summary is not confirmation of insurance and does not add to, extend, amend, change, or alter any coverage in any actual policy of insurance you may have. All existing policy terms, conditions, exclusions, and limitations apply. For specific information regarding your insurance coverage, please refer to the policy itself. Alliant Insurance Services, Inc. will not be liable for any claims arising from or related to information included in or omitted from this summary of insurance NY Regulation 194 Disclosure Alliant Insurance Services, Inc. is an insurance producer licensed by the State of New York. Insurance producers are authorized by their license to confer with insurance purchasers about the benefits, terms and conditions of insurance contracts; to offer advice concerning the substantive benefits of particular insurance contracts; to sell insurance; and to obtain insurance for purchasers. The role of the producer in any particular transaction typically involves one or more of these activities. Compensation will be paid to the producer, based on the insurance contract the producer sells. Depending on the insurer(s) and insurance contract(s) the purchaser selects, compensation will be paid by the insurer(s) selling the insurance contract or by another third party. Such compensation may vary depending on a number of factors, including the insurance contract(s) and the insurer(s) the purchaser selects. In some cases, other factors such as the volume of business a producer provides to an insurer or the profitability of insurance contracts a producer provides to an insurer also may affect compensation. The insurance purchaser may obtain information about compensation expected to be received by the producer based in whole or in part on the sale of insurance to the purchaser, and (if applicable) compensation expected to be received based in whole or in part on any alternative quotes presented to the purchaser by the producer, by requesting such information from the producer. Alliant embraces a policy of transparency with respect to its compensation from insurance transactions. Details on our compensation policy, including the types of income that Alliant may earn on a placement, are available on our website at For a copy of our policy or for any inquiries regarding compensation issues pertaining to your account you may also contact us at: Alliant Insurance Services, Inc., Attention: General Counsel, 701 B Street, 6th Floor, San Diego, CA Analyzing insurers' over-all performance and financial strength is a task that requires specialized skills and in-depth technical understanding of all aspects of insurance company finances and operations. Insurance brokerages such as Alliant Insurance typically rely upon rating agencies for this type of market analysis. Both A.M. Best and Standard and Poor's have been industry leaders in this area for many decades, utilizing a combination of quantitative and qualitative analysis of the information available in formulating their ratings. A.M. Best has an extensive database of nearly 6,000 Life/Health, Property Casualty and International companies. You can visit them at For additional information regarding insurer financial strength ratings visit Standard and Poor's website at Our goal is to procure insurance for you with underwriters possessing the financial strength to perform. Alliant does not, however, guarantee the solvency of any underwriters with which insurance or reinsurance is placed and maintains no responsibility for any loss or damage arising from the financial failure or insolvency of any insurer. We encourage you to review the publicly available information collected to enable you to make an informed decision to accept or reject a particular underwriter. To learn more about companies doing business in your state, visit the Department of Insurance website for that state. Important Notice: The non-admitted & reinsurance reform act (NRRA) goes into effect on July 21, Accordingly, surplus lines tax rates and regulations are subject to change which could result in an increase or decrease of the total surplus lines taxes and/or fees owed on this placement. If a change is required, we will promptly notify you. Any additional taxes and/or fees owed must be promptly remitted to Alliant Insurance Services, Inc. 3