Coverage is underwritten by ICAT Managers on behalf of the Company(ies) listed below. Coverage will be written on the ISO Causes of Loss - Special Form (CP 10 30 06 07) form. Company Participation: Policy Number 09-7590090422-S-00 This binder is provided by the carriers listed below in the participation amounts listed. Each carrier will be responsible for their respective participation of all losses under this policy. Each of the Companies will be severally (but not jointly) liable solely for its own pro rata share. Perils Company % Participation All Peril Underwriters at Lloyd's (AM Best: A (XV), S&P: A+) 56.104% Equipment Breakdown All Peril Underwriters at Lloyd's (AM Best: A (XV), S&P: A+) National Fire & Marine Insurance Company (AM Best: A++ (XV), S&P: AAA) 100% 21.948% All Peril QBE Specialty Insurance Company (AM Best: A (XIV), S&P: A+) 21.948% *All of the companies participating on this policy are non-admitted. The Producer is responsible for calculation and remittance of all Surplus Lines Taxes and Fees. Created: February 26, 2016 THIS COVER NOTE IS A TEMPORARY INSURANCE CONTRACT, SUBJECT TO THE CONDITIONS SHOWN BELOW. PRODUCER: RISK PLACEMENT SERVICES GA, ALPHARETTA, 5619373 NAMED INSURED: PERILS: COVERAGE: c/o Southern Association Management 4608 Opa-Locka Lane, Ste. 300 Destin, FL 32541 All Peril Special Cause of Loss including Earthquake, Equipment Breakdown and Sinkhole but excluding Flood and Terrorism as per the ISO Causes of Loss - Special Form (CP 10 30 06 07). Real Property, Business Income/Extra Expense/Rental Value.
SUB LIMITS: POLICY TERM: LOCATION (S): TOTAL INSURABLE VALUES: LIMIT OF INSURANCE: Ordinance or Law Coverage: Coverage Part A is included. Coverage Parts B & C combined, sublimited to 20% of Coverage Part A value per building, not to exceed $1,000,000 per occurrence. February 28, 2016 12:01 AM Standard Time to February 28, 2017 12:01 AM Standard Time. As per the Statement of Values on file with the Company. $45,290,000 at 100% replacement cost. As per the schedule on file with the Company, not to exceed $45,290,000 per occurrence for all coverages. DEDUCTIBLE: PREMIUM: Subscribing Company(ies) TBD Named Hurricane: 2% Calendar Year Aggregate deductible applied by Policy. Once exhausted then the All Other Wind and Hail deductible will apply. Wind Driven Rain: 2% per occurrence applied by Policy. All Other Wind and Hail: $25,000 per occurrence applied by Policy. All Other Peril: $5,000 per occurrence applied by Policy. Equipment Breakdown: $2,500 per occurrence applied by Policy. Earthquake: $25,000 per occurrence applied by Policy. PREMIUM SINKHOLE PREMIUM POLICY FEE $78,334 $556 $250 $79,140 TOTAL PREMIUM AND FEES Inspection Fee Waived COMMISSION: 10% of premium hereto. Total $79,140 Broker is responsible for collecting and filing all state-imposed taxes and fees. TERRORISM: UMR NUMBER (S): Coverage for Acts of Terrorism has been offered to, and declined by, the insured. B080110759N15, B1115T152056, B1115T162516, B607400002V16NW, ICAT-QBE and TBD.
CONDITIONS: Coverage for loss or damage from wind and hail is conditioned upon the Named Insured maintaining flood insurance for property located within certain flood zones determined as of the effective date of the policy. See ICAT Form 60 for more details regarding this Condition of Coverage. Broker is responsible for collecting and filing all applicable fees and taxes. All coverage's are per standard forms and endorsements in use by ICAT at the time of binding unless otherwise stated. The terms and conditions may be different than those requested in your original submission. Please make sure you have reviewed this document carefully with your insured. ICAT does not take any responsibility for differences between this document and terms originally requested. This quote is subject to ICAT Earned Premium and Cancellation Provisions or a Minimum Earned Premium of 25%, whichever is greater. Please contact your underwriter if you need a copy of this form. Coinsurance is waived. Please confirm the following information prior to binding: Confirmation of >70% occupancy rate for each location, with no vacant buildings. Business Income is subject to 1/12 Monthly Limit of Indemnity. The following conditions apply in addition to standard ISO forms. Please contact your Underwriter if you need a copy of these forms: Occurrence Limit of Liability (ICAT SCOL 200). Additions Under Construction Changes and Limitations (ICAT SCOL 220). Earned Premium Endorsement (ICAT SCOL 600 series as applicable).
EXCLUSIONS: Coverage for Acts of Terrorism is excluded. Other exclusions per ICAT standard forms and endorsements. Coverage for mold is excluded. The following exclusions apply in addition to standard ISO forms. Please contact your Underwriter if you need a copy of these forms: Additional Property Not Covered (ICAT SCOL 221). Aluminum Wiring Exclusion (ICAT SCOL 230). Asbestos and Sick Building Exclusion (ICAT SCOL 232). Prior Loss Exclusion (ICAT SCOL 233). Seepage and Pollution Exclusion (ICAT SCOL 234). Electronic Date Recognition Exclusion (ICAT SCOL 603). NMA0464 War and Civil War Exclusion. NMA1191 Radioactive Contamination Exclusion. NMA 2962 Biological or Chemical Materials Exclusion. This binder is issued under the authority granted to International Catastrophe Insurance Managers, LLC by Subscribing Company(ies) TBD This Company binds the kind(s) of insurance stipulated on this form. The Insurance is subject to the terms, conditions and limitations of the policy(ies) in current use by the Company. This binder may be cancelled by the insured by surrender of this binder or by written notice to the Company stating when cancellation will be effective. Cancellation may result in a significant short rate penalty. This binder may be cancelled by the Company with notice to the insured in accordance with the policy conditions. This binder is cancelled when replaced by a policy. If this binder is not replaced by a policy, the Company is entitled to charge a premium for the binder according to the Rules and Rates in use by the Company.
. INSURER PARTICIPATION SCHEDULE (ICAT 50 SCH (02 14)) PRO RATA SHARES APPLICABLE TO THIS POLICY Coverage under this Policy is provided on behalf of the Insurance Carriers listed below: PERILS INSURER(S) CONTRACT NUMBER PERCENT PARTICIPATION EB Lloyd's 4242 B607400002V16NW 100% AP Lloyd's 4242 B607400002V16NW 32.949% AP AP QBE Specialty Insurance Company National Fire & Marine Insurance Company ICAT-QBE 21.948% 42-IMA-275150-01 21.948% AP Lloyd's 2007 B1115T162516 14.632% AP Lloyd's 2014 B080110759N15 3.658% AP Lloyd's 33 B1115T152267 2.92624885% AP Lloyd's 5820 B1115T152056 0.7315987% AP Lloyd's 1969 B1115T152056 0.7315987% AP Lloyd's 1200 B1115T152056 0.36579935% AP Lloyd's 4472 B1115T152056 0.1097544% Definitions Perils AP: All perils covered under the policy not otherwise specifically defined in this Insurer Participation Schedule EB: Equipment Breakdown as per ICAT SCOL 150
Account Name Location Number Building Number Address Address 2 City County State Zip Code DTC (mi.) Flood Zone Building Value Emerald Beach Resort Condo I Assoc HU 1 1 14701 FRONT BEACH RD PANAMA CITY BEACH BAY COUNTY FL 32413 0.02 VE 45,190,000
BPP Value BI Value APC APC BPP TIB Construction Occupancy Year Built Stories Buildings Square Feet Cost/SqFt APC Description - 100,000 - - - Fire Resistive Condominium/Townhouse 2,006 26 1 310,217 146
EARNED PREMIUM ENDORSEMENT THIS ENDORSEMENT CHANGES YOUR POLICY. PLEASE READ THIS ENDORSEMENT CAREFULLY. This endorsement modifies insurance provided under the following forms. COMMERCIAL PROPERTY COVERAGE PART Earned Premium I. If this Policy, including any extensions of this Policy, is in force at any time between June 1 and November 30, then Table 1 immediately below defines how premium is earned unless otherwise stipulated by law and subject to any exceptions stated herein. Table 1 Percent of Expired Policy Term Current Policy Period II. Percent of Annual Premium Earned 0% to 50% 80% 51% to 57% 85% 58% to 65% 90% 66% to 73% 92.5% 74% to 82% 95% 83% to 90% 97.5% 91% to 100% 100% If a building or location is added during the term of this Policy and the Policy is in force at any time between June 1 and November 30, then the premium associated with that building or location will be earned in accordance with the above table. The sole exceptions to Table 1 above are as follows: A. If the Covered Property is located in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, or Rhode Island, then Section I.A of this Endorsement is deleted and replaced with the following: III. 1. Unless otherwise stipulated by law and subject to any exceptions stated in Sections II.A.(1)-(2) of this Endorsement, if this Policy, including any extensions of this Policy, is in force at any time between July 1 and April 1, then Table 1 above defines how premium is earned. If this Policy is cancelled, we will refund any unearned premium due in accordance with the table above, subject only to the following exceptions: A. If we cancel, the refund will be prorated based upon the number of days remaining until the end of the Policy Period. B. If you cancel and the Policy was not in force at any time between June 1 and November 30, then the premium refund will be equal to 90% of the pro rata unearned premium as of the effective date of cancellation subject to a minimum earned premium of 25% of the annual premium. C. If this Policy has been extended beyond the end of the Policy Period and the Policy is cancelled at any time during such extended Policy Period, there will be no premium refund. Page 1 of 1 ICAT SCOL 602(a) (04 08)
SPECIAL CONDITION OF WIND COVERAGE THIS CONDITION CHANGES YOUR POLICY AND MAY LIMIT YOUR ABILITY TO RECOVER FOR CERTAIN LOSSES THAT OTHERWISE MAY BE INSURED UNDER THIS POLICY. PLEASE READ THIS CONDITION CAREFULLY. I. Notice. This policy is subject to the Special Condition of Wind Coverage explained in Section III. of this endorsement. Failure to satisfy the Special Condition of Wind Coverage shall void coverage under this policy for windstorm or hail, Named Windstorm, or Named Hurricane. Section II. of this endorsement explains how you may satisfy this condition. II. Your responsibility. In order to satisfy the Special Condition of Wind Coverage, you must purchase, maintain and have in force at the time of loss other insurance providing coverage against flood as defined by and provided under the National Flood Insurance Program (NFIP) in an amount at least equal to the lesser of the following: A. the maximum limits available from the NFIP; or B. the policy Limit(s) of Insurance applicable to this policy shown in the Declarations Page, the Statement of Values or as have been amended by endorsement subsequent to issuance of this policy and prior to the date any Covered Cause of Loss occurs. III. Special Condition of Wind Coverage. The Special Condition of Wind Coverage provides that you must purchase, maintain, andhaveinforceatthetimeoflossother insurance providing coverage against floodasprovidedinsectionii.ofthisendorsement as a condition of windstorm or hail, Named Windstorm, or Named Hurricane coverage under this policy. Failure to purchase and maintain such other insurance is a breach of a material condition of this policy and such failure shall render void any windstorm or hail, Named Windstorm, or Named Hurricane coverage under this policy. This Special Condition of Wind Coverage applies only if: A. on the binding date of this policy (or the renewal date of any renewal policy that replaces an earlier policy issued by us), IV. Covered Property under this policy is located in one or more Special Flood Hazard Area(s) (SFHA); and B. such Covered Property sustains flood damage as defined and provided under the NFIP concurrently or sequentially with loss or damage caused by windstorm or hail, Named Windstorm, or Named Hurricane. SFHA is defined under the United States Code of Federal Regulations and areas are designated as SFHAs by the Federal Emergency Management Agency. The Special Condition of Wind Coverage shall not apply if the loss or damage occurs within 45 days from the effective date of this policy. However, if this policy renews coverage provided under an earlier policy issued by us, your obligation to maintain flood insurance shall continue without interruption. Where Applicable. The Special Condition of Wind Coverage is applicable only to Covered Property under this policy that is located in any SFHA, including, but not limited to, the following types of SFHAs: A, AO, AH, A1-30, AE, A99, AR, AR/A1-30, AR/AE, AR/AO, AR/AH, AR/A, VO, V1-30, VE, and V. V. The identification of any Causes of Loss (e.g., windstorm or hail, Named Windstorm, Named Hurricane, or flood) in this endorsement does not mean that the Cause of Loss is a Covered Cause of Loss under this policy. A Cause of Loss is a Covered Cause of Loss under this policy only if it is insured under this policy, which would be documented in the Causes of Loss Special Form or by the attachment of one or more Endorsement Form(s) adding such coverage to this policy. All other terms and conditions of this policy remain. Page 1 of 1 ICAT SCOL 60 (09 10)
SCOL SUBLIMITS OF COVERAGE Unless otherwise noted, all coverages are sublimits and do not increase the overall limit of insurance. In addition all coverages are per occurrence. Debris Removal: 25% of loss within limit, up to additional $10,000 per location in addition to limit. Preservation of Property: 30 Days. Fire Department Service Charge: $1,000. Pollutant Clean Up and Removal: $10,000. 180 days reporting. Increased Cost of Construction: $10,000 or 5% per Building, whichever is less. Electronic Data (Hardware Only): $2,500. Newly Acquired or Constructed Property Buildings: $250,000. Personal Effects and Property of Others: $2,500. Valuable Papers and Records: $2,500. Property Off Premises: $10,000. Outdoor Property: $1,000 except Trees, Plants and Shrubs limited to $250 per Tree, Plant or Shrub. Non - Owned Detached Trailers: $5,000. Transit: $5,000. Policy specifies causes of loss covered. Limited Coverage Fungus, Wet Rot, Dry Rot and Bacteria: $15,000 Annual Aggregate. Policy specifies causes of loss covered. SCOL SUBLIMITS OF COVERAGE ENHANCEMENTS ADDITIONAL FORMS REQUIRED Ordinance & Law: o Coverage Part A is included. Coverage Parts B&C combined, sublimited to 20% of Coverage Part A value per building, not to exceed $1,000,000 per occurrence. Earthquake: $10,000,000 per occurrence and in the annual aggregate. Wind Driven Rain: not to exceed $1,000,000 per occurrence. Sewer, Drain and Sump Back up, or Overflow: not to exceed $50,000 per occurrence. EQUIPMENT BREAKDOWN ENHANCEMENT -Available up to $15M per Location -Accounts with higher limits will be sublimited to $15M per Location for Equipment Breakdown Equipment Breakdown Additional Coverages and Sublimits: Pollutant Clean Up and Removal: $250,000 Refrigerant Contamination: $250,000 Spoilage: $250,000 Expediting Expense: Included CFC Refrigerants: Included Computer Equipment: Included Service Interruption: Included (only if Business Income / EE Limit) Valuable Papers and Records: Part of Valuable Papers and Records Limit Above Environmental, Safety, & Eff. Imp.: Up to 125% of non-improved Repl. Property Green Environmental & Eff. Imp.: Lesser of 125% of non-green Cost or $100,000 Updated October 22, 2014
PROPERTY WITHIN CONDOMINIUM UNITS COVERAGE EXTENSION THIS ENDORSEMENT CHANGES YOUR POLICY. PLEASE READ THIS ENDORSEMENT CAREFULLY. This endorsement modifies insurance provided under the following forms: CONDOMINIUM ASSOCIATION COVERAGE FORM (CP 00 17) I. The following is added to A.1., Covered Property, a., Building, thereby providing limited coverage for property located within condominium units as described herein: Property Within Condominium Units Coverage Extension. Notwithstanding any provision to the contrary in this policy, Covered Property includes the following property contained within condominium units comprising part of the building whether owned by the Named Insured or a condominium unit owner: (1) fixtures, installation and additions; and (2) refrigerators, air conditioners, cooking ranges, dishwashers, and clothes washers. All other terms and conditions of this policy remain. Page 1 of 1 ICAT SCOL 149 (06 10)