• Protection for a wide range of insureds, including past, present or future:
  - Directors and Officers
  - Volunteers
  - Committee members
  - Trustees
  - Executives
  - Spousal and Estate
  - Employees of the association
  - Builders and developers, as members of the board
• Protection for the named property management company in their capacity as such, and its employees
• Defense expenses are in addition to the Limit of Liability in their capacity as such (when GAIC counsel is used)
• Defense expenses are not subject to the retention (when GAIC counsel is used)
• Breach of Contract coverage providing Costs of Defense for claims alleging an insured's breach of a 3rd party contract.
• A duty to defend the association and its members
• No individual insured vs.individual insured exclusion
• Broadly defined Employment Practices Liability, which includes automatic coverage for:
  - Wrongful termination
  - Employment-related misrepresentation
  - Violation of employment laws
  - Sexual harassment
  - Discrimination
  - Wrongful failure to employ or promote
  - Wrongful discipline
  - Wrongful deprivation of career opportunity
  - Negligent evaluation
  - Retaliation
  - Failure to provide adequate work place policies or procedures
• Protection for monetary damages or other (injunctive) relief
• Punitive damages protection where allowed by law
• Broad definition of wrongful acts, including: any error, misstatement, misleading statement, act, omission, neglect or breach of duty actually or allegedly committed or attempted by the policyholder or any insured individual in their capacity as such, or any matter claimed against any insured individual.
• Broad definition of claim
• Automatic 90-day reporting period for no additional premium (if GAIC cancels or non-renews)
• Payment for losses on the policyholder's behalf, which eliminates the need for the association to pay and then be reimbursed by the insurance company

*The coverage information outlined herein is a guideline only; refer to the actual policies for full terms, conditions, exclusions, and limitations. In the event of a conflict between this document and the actual policies, the policies will control.

Umbrella Coverage Highlights - The coverage information contained herein is a listing of highlights only; refer to the actual policies for full terms, conditions, exclusions and limitations. In the event of a conflict between these highlights and the actual policies, the provision of the actual policies will govern.

Special Conditions:

• The minimum underlying insurance limits are program requirements and cannot be amended for any individual member.
• The CGL defense cost must apply outside the limit and the general aggregate limit must apply per location.
• D&O minimum underlying limit requirement: $1,000,000
• 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 replaced.
  

Lead Carrier:

Great American Insurance Company (Admitted)

Named Insured:

Distinguished Properties Umbrella Managers, Inc., A Risk Purchasing Group and its members. All Named Insureds must be specifically scheduled on the policy.

Lead Policy Form:

Protector Commercial Umbrella Form GAI 6002 06/97 Ed. (a specimen policy is available upon request)

Insuring Agreements:

Umbrella Liability / Excess Follow Form Coverage

Self Insured Retention:

None

Endorsements:

• Community Association PG Endorsement including: Application of Limits of Liability Application of Certificate of Coverage (Policy Declaration)
• Named Insured Endorsement (Purchasing Group wording)
• Limitation of Coverage to Specified Locations Endorsement
• Knowledge of Occurrence Clause
• Notice of Occurrence
• Unintentional Errors or Omissions
• Amendment of Insuring Agreement Known Injury or Damage
• Bodily Injury and Property Damage - Following Form
• Personal Injury - Following Form
• Advertising Injury - Following Form
• Contractual Liability - Following Form
• Directors and Officers Liability for Not-for-Profit Community Associations - Following Form
• Punitive or Exemplary Damages - Following Form
• Host Liquor Liability - Following Form
• Employee Benefit Liability - Following Form
• Amendment of Pollution Exclusion Exception for Named Peril of Hostile Fire; Building heating, cooling, and dehumidifying equipment
• Real Estate Agents and Brokers Errors and Omissions Exclusion
• Professional Liability Exclusion
• Employment Related Practices (does not apply to D&O related EPLI claims) up to 100 Million
• Fungi, Mold or Spores Exclusion (NY exception up to 100 Million)
• Non-Business Activities Exclusion
• Exclusion Liability Arising out of Lead (May be removed in the State of NY subject to underwriting) up to 100 Million
• Care, Custody or Control Exclusion Real or Personal Property with Garagekeeper Legal Liability Exception
• Aircraft Liability Exclusion
• Watercraft Liability Exclusion Exception for Non-Owned Watercraft - up to 26 in length
• Intellectual Property Exclusion
• Real Estate Development or Construction of Real Property Exclusion
• Real Estate Developer/Builder/Sponsor Exclusion
• Swimming Pool Fencing Conditional Exclusion
• Maintenance of Underlying Insurance Requirements endorsement
• Limited Terrorism Exclusion (Other than Certified Acts)
• Exclusion of Punitive Damages Related to a Certified Act of Terrorism
  

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 ninety (90) 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 Disease
• $500,000 Each Employee Disease

Employee Benefits Liability:

• $1,000,000 Each Claim/Occurrence
• $1,000,000 Aggregate

Not for Profit Condominiums, Cooperatives or HOA Directors and Officers Liability :
Great American as underlying carrier

• $1,000,000 Aggregate per Association

Garagekeeper's Legal Liability:

• $1,000,000 Each Occurrence

Cancellation Provisions:

• Ten (10) days for non-payment of premium/fees
• Thirty (30) days for underwriting reasons
• Sixty (60) days for non-renewal

Crime Coverage Highlights*

Blanket Employee Dishonesty Coverage (Insuring Agreement 1)

• Managing Agent Endorsement
• Welfare and Pension Plan ERISA Compliance
• Non-Compensated Officer as Employee Endorsement
• Volunteer Worker Other Than Fund Solicitors as Employee Endorsement

Available for an additional premium:

• Forgery or Alteration Coverage (Insuring Agreement 2)
• Theft, Disappearance and Destruction Coverage (Insuring Agreements 3 & 4)
• Computer Fraud Coverage (Insuring Agreement 5)
  

*The coverage information outlined herein is a guideline only; refer to the actual policies for full terms, conditions, exclusions, and limitations. In the event of a conflict between this document and the actual policies, the policies will control.