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Coverage Highlights*
PROPERTY
Named Insured
As Per Policy Declarations page and if applicable, included
on the Amendment of Named Insured Endorsement.
Carrier
Granite State Insurance Company
New Hamsphire Insurance Company
Illinois National Insurance Company
(AIG Companies)
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
- 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 $25 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
5,000,000* 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
for a $1,000,000
sub-limit)
5,000,000* Flood, per occurrence
and annual aggregate per
policy, in Zones C, X or better.
1,000,000* 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.
Suplemental 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,
per occurrence,
applies to Building/ Personal Property
and a
separate
$25,000 Earth Movement deductible,
per occurrence,
applies 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 applies
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 Subject to a minimum of $25,000
for Delaware
southward through Texas (excluding Florida)
2% of Value Subject to a minimum of $10,000
for areas north
of Delaware through and including Maine
See Proposal/Policy All Other Perils (AOP)
Deductible: $2,500/$5,000/$10,000/$25,000 are available
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 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.
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.
Carrier
Granite State Insurance Company
New Hamsphire Insurance Company
Illinois National Insurance Company
(AIG Companies)
| 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 00 01 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 - Occurance
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
- Coverage is limited to real estate risks only and covers risk
exposures usual and customary to the ownership, and/or management
of real estate. Our purchasing group policy does not cover structural
or ground up construction, nor real estate development operations.
As respects commercial properties, coverage is limited to the lessor's
risk ownership exposures only.
- 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 ISO GL0001
policy form:
- Professional Liability Exclusion
- Employment Related Practices Exclusion
- Absolute Lead Exclusion
- Total Polution Exclusion - Exception for
Hostile Fire and Heating Equipment
- Fungi, Bacteria and Viruses Exclusion
- Construction Activities Exclusion
(Structural Alternations, Moving Buildings, New Construction or
Demolition Operations)
- Unscheduled Activity and Events Exclusion
- Athletic or Sports Participation
Exclusion
- Explosion, Collapse and Underground
Hazard Exclusion
- Designated Operations covered by a
Consolidated (Wrap-Up) Insurance Program Exclusion
- War Liability Exclusion
- Web Site Related Personal and Advertising
Injury Exclusion
- Directors and Officers Liability
Exclusion
- See policy form for other terms, conditions, exclusions
Territory
- Worldwide, providing suit brought in the United States
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 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.
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