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(when more than 1 location on the policy).
• D&O minimum underlying limit requirement: Eligible U/L D&O carriers include Great American, USLI, Farmers, CNA, Travelers and Liberty Mutual. When defense is outside the limit, required limit is $1,000,000 each claim. When defense is inside the limit of liability, requirement limit is $2,000,000 each claim  * Exception - NY may have defense within the limit for 1 Million each claim.
  
• 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:

• Risk Purchasing Group Endorsement Including:
  Application of Limits of Liability
  Application of Certificate of Coverage (Policy 
  Declaration)
• Named Insured Endorsement (Purchasing Group wording)
• Broad Named Insured Endorsement
• Limitation of Coverage to Specified Locations Endorsement
• Knowledge of Occurrence Clause
• Notice of Occurrence
• Claims made Coverage Endorsement
• 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 - Follow Form
• Auto 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
• Discrimination follow form
• Amendment of Pollution Exclusion Exception for Named Peril of Hostile Fire; Building heating, cooling, and dehumidifying equipment  
• Professional Liability Exclusion
• Employment Related Practices exclusion (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 26in length
• Failure to maintain Earthquake and Flood coverage exclusion. 
• Intellectual Property Exclusion
• Real Estate Development or Construction of Real Property Exclusion
• Real Estate Developer/Builder/Sponsor Exclusion
• Swimming Pool Fencing Conditional Exclusion
• 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, USLI, Farmers, Travelers, CNA, Liberty Mutual as Underlying Carriers with separate defense limit of $1,000,000 or more:

• $1,000,000 Aggregate per Association

With defense inside the limit of liability: 

• $2,000,000 Aggregate per Association
• $1,000,000 acceptable in state of NY

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