FILED: QUEENS COUNTY CLERK 01/12/ :50 PM

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1 FILED: QUEENS COUNTY CLERK 01/12/ :50 PM INDEX NO /2015 NYSCEF DOC. NO. 61 RECEIVED NYSCEF: 01/12/2017 EXHIBIT 7

2 OTSEGO MUTUAL FIRE INSURANCE COMPANY 2013 DOWNSTATE UNDERWRITING GUIDELINES OTS

3 ABOUT THE COMPANY Objective History Products Rates Management Affiliations The Company strives to build a superior book of business which enables it to provide low rates and superior financial strength to its policy holders. Founded in 1897 as an Advance Premium Cooperative, Otsego Mutual Fire Insurance Company has enjoyed a long tradition insuring properties throughout several states. Now concentrating its efforts through 80 independent agents in its home state, the Company has built a reputation as one of the strongest, most efficient mutuals in the nation. Homeowners (Owner occupied, 1 & 2 family) Dwelling Fire (1 & 2 family) Allied Lines Renter s Insurance (HO-4) Scheduled personal property (as part of package) Deviate from URB. Property rates haven t changed since Kelley Burke Cough, CPCU, President Terry M. Gras, CPCU, Secretary Underwriters Rating Board (URB) National Association of Mutual Insurance Companies (NAMIC) Professional Insurance Agents of New York (PIA of NY) OTS

4 FINANCIALS RATED A+ (Superior) by A.M. BEST Assets $94,843,644 Liabilities $13,617,642 Surplus $81,226,002 Gross writings $17,200,000 * Net writings $ 4,409,014 * Loss reserves $ 3,366,740 Assets to Liabilities 696% Surplus to Liabilities 596% Surplus/Writings 18.4X (* =12 month estimate. Above financial figures as of 9/30/2012) OTS

5 UNDERWRITING Phone Submissions (607) (607) Please contact your underwriter with inquiries that may not be addressed in these guidelines Via Otsego Mutual online system. Access at For access to or problems with the system please contact Greg Gaeta or Terry Gras. Note that agents are required to keep the signed application on file. Personnel Submissions & Renewals: Applications & Inquiries: Primary: Ms. Kathy Burke Secondary: Mr. Terry Gras Sharon Benjamin Dee Schoellig Michelle Williams Martha Cady OTS

6 UNDERWRITING Homeowner Program Must be owner occupied 1 or 2 family only! Forms ML-1, 2, 3, 4 & 8. All policies written for 3 year term, rates guaranteed. ACV & REPLACEMENT COST Clear unprotected properties with Home Office Underwriter. Inland Marine schedules available - no more than $5,000 per item. Bills of sale preferred appraisals from Certified Gemologists acceptable. Swimming pools, approved dogs & ML-70 liability ext. - $100,000 maximum liability Renter s Insurance $100,000 maximum property coverage, $100,000 liability maximum No scheduled items Seasonal or Secondary Homes ML-347 Capped Mold Endorsement is required Please try to obtain primary homeowner support. No Replacement Cost on Contents (ML-55) available. Must be written on ACV basis, form 1, unless ML-2 approved by company. Builders Risk One year policy 55% of annual premium Dwelling Fire Program 1 & 2 family owner occupied Forms 1, 2 & 3 with EC & VMM available on owner occupied Tenant occupied Form 1 & 2 only Maximum of $100,000 OLT liability Primary support required Maximum Limits Property - coverage A - $600,000 Renter's - coverage C - $100,000 ($4,000 Minimum) Liability - coverage L - $500,000 CPL, $100,000 OL&T, $100,000 ML4 Deductibles: $100, $250, $500, $1000 THE COMPANY PREFERS LOWER DEDUCTIBLES! OTS

7 PROHIBITED RISKS More than 2 family dwellings Horses & farm animals Policies in the name of business Day Care of any kind Un-occupancy or vacancy Dwellings for sale Tenant Homeowners (ML-4) for college students Waterfront property bulk headed Risks within 1,000 feet of coast, 1 mile in Nassau County. No new business in Suffolk County Previous losses and cancellations (including non pay) or non-renewal ***Call company underwriter for exceptions*** DOGS The following breeds are prohibited: German Shepherd Pit Bull (American Staffordshire Terrier) Doberman Pinscher Great Dane Sharpei Rottweiler Akita Cane Corso Chow Chow Presa Canario The following breeds require underwriting approval prior to binding (explanation of breed, size, temperament, length of ownership): Dalmatian Boxer Husky Jin Do St. Bernard Shiba Inu Mastiff Please Note: Company reserves the right to decline other breeds which could pose a liability hazard as determined by inspector. OTS

8 ACCOUNTING Direct Bill 3 Options Annual Pay 1 payment. Escrow accounts or insured preference Installments- 40 % down with application 30 % within 60 days 30 % additional 60 days $5 installment fee -Renewal bills mailed days prior to anniversary (Prepaid acceptable - Agent receives commission sooner!) Electronic Funds Transfer (EFT) - No installment fees. 1 st payment 15%, balance spread over 11 months equally. Statement provided to insured informing when withdrawals will be made Insured can choose to go to to make EFT payment at any time. $15 returned check fee $15 late payment fee (assessed at time non-pay notice is issued) Please note if mortgagee to be billed (Reference Loan #) Commissions - 19% Protected & Semi-protected 14 % Unprotected - Monthly commission statement mailed with check to agent. Personnel: (607) or (607) Gregory Gaeta, Treasurer Suzette Wengert ggaeta@otsegomutual.com swengert@otsegomutual.com OTS

9 CLAIMS Reporting: Property & Liability Claims - By ACORD form to Home Office Phone: (607) OR (607) Fax: (607) Personnel: Property Loss Department Kevin Cough kevcough@otsegomutual.com Mary Brockett mbrockett@otsegomutual.com Jen Hoag jhoag@otsegomutual.com Liability Loss Department Kelley Burke Cough Kevin Cough kevcough@otsegomutual.com OTS

10 COMPANY DIRECTORY Department Name Ext. Underwriting Sharon Benjamin 29 Underwriting Terry Gras, Secretary 22 Underwriting Kathy Burke 26 Home Owners Martha Cady 25 Home Owners Dee Schoellig 25 Dwelling Fire Janet Fikes 39 Dwelling Fire Michele Williams 37 Cancellations Michele Sprague 34 Accounting Suzette Wengert 36 Accounting Greg Gaeta, Treasurer 28 Claims Mary Brockett 31 Claims Kevin Cough 32 Claims Jen Hoag 33 Claims Denyse Schoellig 33 Secretary Gail Bolton 30 Receptionist Sue Neale 24 IT Judie Hamilton, Asst. Sec. 27 OTS

Rental Application Instructions PLEASE READ THE FOLLOWING CAREFULLY

PRECISION PROPERTY MANAGEMENT SERVICES, INC 13375 McGregor Blvd Fort Myers, Florida 33919 Office (239) 267-1701 Fax: (239) 482-6416 www.thechanggroup.com Rental Application Instructions PLEASE READ THE