Coverage Highlights* Important Note: The Punitive Damages exclusion will be removed Effective April 1, 2007, and coverage for Punitive Damages will be added on a "Follow Form" Basis.

Lead Carrier:

Named Insured:

Lead Policy Form:

Insuring Agreements:

Self Insured Retention:

Coverage:

• Underlying Insurance Exclusions – Follow Form
• Aggregate Limit (Per Location) - Follow Form
• Maintenance of Underlying Insurance and Underlying Limits Endorsement
• Period of Insurance designated by Certificate of Coverage (Manuscript Endorsement)
• Limits of Insurance designated by Certificate of Coverage (Manuscript Endorsement)
• Contractors' Endorsement with exclusion for ground up construction (Manuscript Endorsement)
• Real Estate Development Exclusion (Development or Construction of Real Property)
• Lead Exclusion
• Pollution Exclusion – Exception for Hostile Fire and Heating Equipment
• Professional Services Exclusion
• Punitive Damages - Follow Form (New Coverage- effective 4/1/2007)
• Employment Related Practices Exclusion
• Aircraft Liability Exclusion
• Watercraft Liability Exclusion
• Biological Agents (Mold, Mildew, Spores, Fungi, etc.) Exclusion
• Care, Custody, Control Real & Personal Property Exclusion
• Medical Payments, No-Fault, PIP, Workers Comp., DBL or Unemployment Compensation Exclusion
• Uninsured Motorist – Acknowledgement of Exclusion
• Employers Liability Occupational Disease Exclusion (applies excess of $25mm)
• Garage Operations Exclusion (Coverage B)
• Intellectual Property Exclusion
• Non-Accumulation of Limits Endorsement
• Loss in Progress Endorsement

Limitations:

• Limitation of Coverage to Specified Locations
• Specified Named Insureds – Limited to Owners, Managers, or Lessees of specified locations
• Newly acquired locations and newly formed entities must be reported to and accepted by the company within thirty (30) days.
• Coverage is limited to real estate risks only and covers risk exposures usual and and customary to a real estate owner. This program does not cover construction or development operations.

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/Claim where applicable
• $1,000,000 Aggregate
• $1,000 Deductible

Not for Profit Condominiums, Cooperatives or HOA Directors and Officers Liability:

• $2,000,000 Each Claim
• $2,000,000 Aggregate per Association

Garagekeepers Legal Liability:

• $1,000,000 Each Occurrence

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.
• 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.

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 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.