Coverage Highlights*
Property
Liability
Umbrella
PROPERTY
Named Insured
As Per Policy Declarations page and if applicable, included on the
Amendment of Named Insured Endorsement.
Perils Insured Against
"Covered Cause of Loss" which actually occurs during the policy period.
"Covered Cause of Loss," means risks of direct physical loss unless
the loss or damage is excluded or limited by other provisions.
Includes coverage for the following:
Ordinance or Law
Loss to Undamaged Portion of Building
Demolition Cost
Debris Removal
Increased Cost of Construction
Back Up of Sewers and Drains
Transit
Flood
Earthquake, except California
Mechanical Breakdown
Steam Explosions or Ruptures
Terrorism Foreign/Domestic (included automatically)
Property Covered
All Real and Personal Property owned by the Insured including:
Interest in Improvements and Betterments to buildings or
structures
Personal Property of employees
Accounts Receivable
EDP Equipment
Valuable Papers and Records
Outdoor Trees, Plants and Shrubs
Heating/Cooling systems
Refrigeration Units
Machinery
Compressors
Additional Coverage
Business Income coverage (if value has been reported):
- Rental Income
- Interruption by civil authority (30 days)
- Extended period of indemnity (180 days)
- Off-premises service interruption
Limit Of Insurance
Blanket per location for Real Property, Personal Property
(owned or leased by the insured), Improvements and Betterments and
Business Income combined, NOT TO EXCEED $5 MILLION PER LOCATION.
Note: Real Property, Personal Property and Business Income
are covered only if a corresponding value has been reported,
as per schedule on file with company.
Sub-Limits
Part of, not in addition to, the Limits
of Liability
$1,000,000* Earth Movement including Earthquake
Sprinkler
Leakage, per occurrence and
annual aggregate
per policy
Not Covered Earth Movement coverage does not
apply in the
State of California or
any properties located in
Mercalli Zones MM 7 or
higher
(Properties in Mercalli Zones
MM 7 or higher,
may be submitted for consideration
- contact
your underwriter for such
exceptions)
$1,000,000* Flood, per occurrence and annual
aggregate
per policy, in Zones
C, X or better.
(Flood insurance may
be considered for
properties in Flood Zones
A, B, D, V and
X-Shaded - contact your
underwriter for such
exceptions)
$1,000,000 Newly Acquired or Constructed
Buildings
$1,000,000 Newly Acquired Business Personal
Property
Included Undamaged
Portion, Increased Cost of
Construction, Demolition
Cost
25% of
physical Debris
Removal (180 days reporting period)
damage loss
payment
$25,000 Personal Effects Of Employees
$100,000 Valuable
Papers And Records
$50,000
Property In Transit
$100,000 Accounts
Receivable Records
$25,000
Fine Arts
Computer Equipment, Media, Data and
Programs:
$250,000 Equipment
$100,000 Media, Data and Programs
$100,000 Your Outdoor Property
$10,000 Sod,
Trees, Shrubs And Plants
$50,000 Covered
Property Not On Premises
$20,000 Money
And Securities - On Your Premises
$10,000 Money
And Securities - Away from Your Premises
$10,000 Salesperson's
Samples
Where the limit of insurance is indicated as included, such coverage
shall follow the Limit(s) of Insurance provided by the policy.
* Denotes an annual aggregate limit.
Supplemental Coverages:
The limits of Insurance for the following Supplemental Coverages are
in addition to the Limits of Insurance for Covered Property. Higher
limits may be available:
$25,000 Debris Removal
$25,000 Fire Department Service Charge
$25,000 Pollutant Clean Up And Removal
$10,000 Recharge of Fire Protection Equipment
$50,000 Extra Expense
$15,000 Deferred Payments
$20,000 Inventory And Appraisal
$10,000 Theft of Furs, Jewelry, Stamps And
Other Specified Items
$10,000 Reward Payment
Data and Programs – extended covered cause of loss:
$5,000* Property Coverage Form
$5,000* Business Income and Extra Expense Coverage
Part
$15,000* Fungus, Wet Rot, Dry Rot and Bacteria - Limited
Coverage
$500,000 Newly Acquired Premises – Business Income
$100,000 Dependent Property – Business Income
Off Premises Utility Failure:
$100,000 Property Coverage Form
$25,000 Business Income and Extra Expense Coverage
Part
Included Equipment Breakdown:
$25,000 Expedition Expenses
$25,000 Hazardous Substances
$25,000 Spoilage
$25,000 Computer Equipment
$25,000 Data Restoration
$25,000 Service Interruption
Included Business Income
Included Extra Expense
Included Dependent Property
Included Ordinance or Law
Where the limit of insurance is indicated as included, such coverage
shall follow the Limit(s) of Insurance provided by the policy.
* Denotes an annual aggregate limit.
Limitations
Vacancy Clause
Exclusions
See policy form for complete lists of exclusions.
Additional Exclusions
Fungus/Mold (Limited Coverage)
California Earthquake
Florida Windstorm
Valuation
In the event of loss or damage to the property insured, the basis
of adjustment shall be:
- All Real & Personal Property - Replacement Cost
- Business Income - Actual Loss Sustained (Only if a value has
been reported to the carrier; otherwise, not covered.)
- Fine Arts - Market Value
Deductibles
$25,000 Earth Movement
deductible, applies per
occurrence, to Building/ Personal
Property and
a separate
$25,000
Earth Movement deductible,applies, per
occurrence, to Business Income
Properties in Mercalli Zones MM 7
or higher,
may be submitted for consideration
with a
deductible of 5% of TIV
$25,000 Flood
deductible applies, per occurrence,
to Building/ Personal
Property and
a separate
$25,000
Flood deductible applies per occurrence, applies
to Business Income
See Policy Windstorm deductible
for properties in
Windstorm Control Zones as
follows:
2% of Value 15 miles or less from the
Coast -Subject to a
minimum of $25,000 for Delaware
southward
through
Virginia -
2% of Value 1 mile or less from the Coast-Subject to a
minimum of $10,000 for areas north of
Delaware through and including
Maine
$1,000 All
Other Perils (AOP) Deductible:
$2,500 Water
Damage Deductible:
Co-Insurance
Coinsurance does not apply.
Cancellation Provisions
- Ten (10) days for non-payment of premium/fees
- Thirty (30) days for underwriting reasons - Must follow individual
state requirements
- Sixty (60) days for non-renewal - Must follow individual state
requirements
The coverage information contained
herein is a summary only; refer to the actual policy for full terms,
conditions, exclusions and limitations. In the event of a conflict
between this summary and the actual policy, the provision of the
actual policy will govern.
COMMERCIAL GENERAL LIABILITY
Named Insured
Distinguished Properties Associates Inc., a Risk Purchasing Group
and its members. All Named Insureds must be specifically scheduled
on the policy.
| Limits of Liability |
| $1,000,000 |
Each Occurrence, Bodily Injury, Property Damage,
Personal and Advertising Injury |
| $2,000,000 |
General Aggregate, per location Bodily Injury,
Property Damage, Personal and Advertising Injury |
| $1,000,000 |
Products / Completed Operations Aggregate |
| $1,000,000 |
Hired and Non-Owned Auto Liability |
| $50,000 |
Fire Damage Legal Liability |
| $5,000 |
Medical Payments |
| $1,000,000 |
Employee Benefits Liability, each occurrence |
| $2,000,000 |
Employee Benefits Liability, aggregate |
| $500,000 |
Employers Liability - Stop Gap Coverage (Monopolistic
States) |
Locations Covered
Designated Premises only
Coverage
Commercial General Liability using ISO GL 2001 Occurrence Form
amended to include the following endorsements:
Endorsement Highlights:
- Specified Named Insured
- Designated Premises
- General Aggregate limits apply per location
- Real Estate Property Managed Limitation
- Hired Auto and Non-Owned Auto Liability (Excess over any other
insurance)
- Employee Benefits Liability - Claims Made Coverage - $1,000
deductible
- Employee Benefits Liability - Occurrence Form - TX only - $1,000
deductible
- Coverage for Sudden and Accidental Pollution arising out of
hostile fire and building equipment
- Additional Insured - Mortgagee, Assignee or Receiver
- Additional Insured - State or Political Subdivisions - Permits
Relating To Premises
- Additional Insured - Condominium Unit Owners
- Knowledge, Notice, Unintentional Errors & Omissions
- Coverage according to Terrorism Risk Insurance Act of 2002 is
included
Limitations
- This program is for real estate risks and is designed to insure
O, L & T Lessor's Risk Exposures usual and customary to a
real estate owner, operator and/or manager. Any other exposures
such as development, ground up construction, etc. are not insured.
- Insurance is afforded for designated premises. Newly acquired
locations must meet our Program's eligibility requirements and
must be reported to our office for approval prior to the 30th
day after acquisition.
Special Exclusions
In addition to the exclusions included on the GL 2001 coverage
form:
- Professional Liability
- Absolute Lead
- Fungi, Bacteria and Viruses
- Construction Activities
- Explosion, Collapse and Underground Hazard Exclusion
- Designated Operations covered by a Consolidated (Wrap-Up) Insurance
Program
- War Liability Exclusion
- Unscheduled Activity and Events Exclusion
- Web Site Related Personal and Advertising Injury Exclusion
- Directors and Officers Liability Exclusion
- See policy form for other exclusions
Territory
- Available in the metropolitan areas of Washington DC, Baltimore,
Philadelphia, Denver, Seattle, Chicago
Cancellation Provisions
- Ten (10) days for non-payment of premium
- Thirty (30) days for underwriting reasons (or as per state regulations)
- Sixty (60) days for non-renewal (or as per state regulations)
The coverage information contained
herein is a summary only; refer to the actual policy for full terms,
conditions, exclusions and limitations. In the event of a conflict
between this summary and the actual policy, the provision of the
actual policy will govern.
UMBRELLA
Named Insured:
Distinguished Properties Umbrella Managers, Inc., A Risk Purchasing
Group and its members. All Named Insured Members must be specifically
scheduled on the policy.
Insuring Agreements:
Umbrella Liability/Excess Follow Form Coverage
Self Insured Retention:
None
Endorsements:
- RPG Rolling Coverage Term Endorsement
- Designated Named Insureds Endorsement
- Designated Locations Endorsement
- Bodily Injury and Property Damage Following Form
- Personal Injury Liability – Following Form
- Advertising Injury – Following Form
- Contractual Liability - Oral & Written - Tort Liability Only (Follow Form)
- Auto Liability – Following Form
- Directors & Officers Liability – Following Form
- Punitive or Exemplary Damages – Following Form
- Host Liquor – Following Form
- Employee Benefit Liability – Following Form
- Real Estate Agents Errors & Omission Exclusion
- Professional Liability Exclusion
- Fungi, Mold or Spores Exclusion
- Non Business Activity Exclusion
- Absolute Lead Exclusion
- CCC Real & Personal Property Exclusion
- Cross Suits Exclusions
- Aircraft Liability Exclusion
- Watercraft Liability Exclusion
- Abuse & Molestation Exclusion
- Intellectual Property Exclusion
- Maintenance of Underlying Insurance Endorsement
- Limited Terrorism Exclusion (Other Than Certified Acts)
- Exclusion of Punitive Damages related to a Certified Act of Terrorism
- Pollution Exclusion - Exception for Hostile Fire
- Employment Related Practices Exclusion
- Construction Defects Exclusion
- Real Estate Developer/Builder/Sponsor Exclusion
- Swimming Pool Fencing Conditional Exclusion
- Known Injury or Damage Endorsement
- Unimpaired Aggregate Endorsement
Limitations:
- Coverage is limited to real estate risks only and covers risk
exposures usual and customary to a real estate owner. This program
does not cover construction or development operations.
- Newly acquired locations and newly formed entities must be
reported to and accepted by the company within thirty (30) days.
Schedule of Minimum Underlying Insurance:
Commercial General Liability (CGL):
- $1,000,000 Per Occurrence
- $2,000,000 General Aggregate (per location)
- $1,000,000 Products/Completed Operations
- $1,000,000 Personal & Advertising Injury
Commercial Automobile Liability:
- $1,000,000 Combined Single Limit
Employer's Liability:
- $500,000 Each Accident
- $500,000 Each Policy
- $500,000 Each Employee
Employee Benefits Liability:
- $1,000,000 Each Occurrence
- $1,000,000 Aggregate
Not for Profit Condominiums, Cooperatives or HOA
Directors and Officers Liability:
With Great American as underlying carrier:
- $1,000,000 Each Claim
- $1,000,000 Aggregate per Association
With other than Great American as underlying carrier
(Most carriers are acceptable - ask us.):
- $2,000,000 Each Claim
- $2,000,000 Aggregate per Association
Garagekeeper's Legal Liability:
- $1,000,000 Each Occurrence
Schedule of Minimum Underlying Insurance:
- The minimum underlying insurance limits are program requirements and cannot be amended for any individual member.
- The general aggregate limit on the CGL must apply per location.
- The D&O must be placed with Great American. If D&O is placed elsewhere, the minimum underlying insurance is $2,000,000.
- It is warranted by each member that all underlying insurers are rated A-VI or better, by A.M. Best,
at the time the underlying insurance became Effective and when it is renewed or relaced.
Cancellation Provisions:
- Ten (10) days for non-payment of premium/fees
- Thirty (30) days for underwriting reasons
- Sixty (60) days for non-renewal
The coverage information contained herein is a
summary only; refer to the actual policies for full terms, conditions,
exclusions and limitations. In the event of a conflict between this
summary and the actual policies, the provision of the actual policies will govern.
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