25-84131500-ITN DFS BOR Attachment V Excess Policies 2025-2026 C.pdf

Ed. 04/19

Commercial Property – Claim Reporting and Claim Questions

Options for Reporting a New Claim

• Telephone : AIG CallOnesm: 800-931-9546 24/7, 365 days/year

• Fax : 855-805-4125

• Email : Please send your email to:

NewLoss-USproperty&energy@aig.com

• Mail : P.O. Box 25967, Shawnee Mission, KS 66225

Such notice shall include the Named Insured as shown on the Declarations, the policy number, the date of loss and a brief description of the potential claim.

Options for Questions Regarding Existing/Previously Reported Claims

For questions regarding existing claims, contact should be made directly via phone or email with the assigned AIG Examiner. However, in the instance where an AIG Examiner is unknown, please use the following methods to obtain the information:

• Claim Service Center: 877-873-9972

• AIG CallOne: 800-931-9546 mailto:NewLoss-USproperty&energy@aig.com

PRPDEC ©American International Group, Inc. Page 1 of 2 LM138108 (01/24) All Rights Reserved.

AIG SPECIALTY INSURANCE COMPANY

1271 AVENUE OF THE AMERICAS FL 37, NEW YORK, NEW YORK 10020-1304

(hereinafter called the Company)

THIS INSURER IS NOT LICENSED IN THE STATE OF NEW YORK AND IS NOT SUBJECT TO ITS SUPERVISION

COMMERCIAL PROPERTY POLICY DECLARATIONS

POLICY NUMBER: 014956433 RENEWAL OF: NEW

ITEM 1. Named Insured: STATE OF FLORIDA

Address: 400 S. MONROE STREET, TALLAHASSEE, FL 32399

ITEM 2. Policy Period: From 02/15/2025 To 02/15/2026 at 12:01 AM Standard Time at the address of the insured location unless this Commercial Property Policy Declarations is attached to a Policy with a Declaration Page or a term or condition contained in such policy form that has a different description of the application of the Policy Period, Policy Term or similar term (hereinafter, the Policy Period), in which case, the Policy Period shall be the same as that description contained on the Declaration Page or policy form to which this Commercial Property Policy Declarations is attached.

ITEM 3. Limit of Insurance:

2.00% BEING $4,500,000 PART OF $225,000,000 PER OCCURRENCE IN THE

PRIMARY

Total Premium: $ 255,000

Terrorism Premium: $ DECLINED

Minimum Earned Premium: $ 89,250

ITEM 4. Perils:

AS DESCRIBED IN THE POLICY ATTACHED

ITEM 5. Description of Property Covered: Coinsurance

AS DESCRIBED IN THE POLICY ATTACHED NOT APPLICABLE

ITEM 6. Mortgagee Clause: Loss, if any shall be payable to:

PER CERTIFICATES ON FILE WITH THE COMPANY

ITEM 7. Forms Attached:

PRPDEC ©American International Group, Inc. Page 2 of 2 LM138108 (01/24) All Rights Reserved.

See attached forms schedule

IN WITNESS WHEREOF, we have caused this Policy to be signed on the Declarations by our President, Secretary and our duly authorized representative.

President Secretary

This Policy shall not be valid unless signed at the time of issuance by our authorized representative.

Authorized Representative

Countersignature (if applicable) Date Countersigned At

DOC018(Ed.12/87) Page 1 of 1

LX0295

FORMS SCHEDULE

Named Insured: STATE OF FLORIDA

Policy No: 014956433 Effective Date: 02/15/2025

Form Number Edition Date Endorsement Number Title

PRPDEC 01/24 COMMERCIAL PROPERTY POLICY

DECLARATIONS

MANUSCRIPT POLICY FORM

1 AMENDATORY ENDORSEMENT (BROKER

ENDT)

LM138182 05/24 002 TERRORISM EXCLUSION ENDORSEMENT

PR4259 07/14 003 ANTI-STACKING ENDORSEMENT

PR8300 12/07 004 CANCELLATION - ADDITIONAL

PROVISIONS

PR4225 07/13 005 ECONOMIC SANCTIONS ENDORSEMENT

LM138003 03/20 006 COMMUNICABLE DISEASE EXCLUSION

LMA 5401 11/19 007 PROPERTY CYBER AND DATA

EXCLUSION

LM138143 06/24 008 EXCLUDED TERRITORIES DEFINITION

ENDORSEMENT

LM138160 09/23 009 WAR EXCLUSION ENDORSEMENT

LM138173 01/24 010 STANDARD PROPERTY CONDITIONS

91222 (9/16)

POLICYHOLDER NOTICE

Thank you for purchasing insurance from a member company of American International Group, Inc. (AIG). The AIG member companies generally pay compensation to brokers and independent agents, and may have paid compensation in connection with your policy.

You can review and obtain information about the nature and range of compensation paid by AIG member companies to brokers and independent agents in the United States by visiting our website at www.aig.com/producer-compensation or by calling 1-800-706- 3102.

http://www.aig.com/producer-compensation

FL HB # 853

AIG SPECIALTY INSURANCE COMPANY

Administrative Offices: 1271 AVENUE OF THE AMERICAS FL 37, NEW YORK, NEW YORK 10020-1304

Policy Number: 014956433

Named Insured: STATE OF FLORIDA

Policy Effective Date: 02/15/2025

SURPLUS LINES INSURERS’ POLICY RATES AND FORMS ARE

NOT APPROVED BY ANY FLORIDA REGULATORY AGENCY

Excess Property Insurance Policy

1. Indemnity

AIG Specialty Insurance Company, called the Company, agrees to indemnify the Insured for the amount recoverable in accordance with the Articles of this policy.

The Insured agrees to pay the premium and comply with the Articles of this policy.

2. Named Insured

The State of Florida State Risk Management Trust Fund 4050 Esplanade Way, Suite 360 Tallahassee, Florida 32399-0950

3. Insured — Sole Agent

If the policy insures more than one entity the first one named in this policy will act as the Sole Agent on behalf of the others for all of the Insured’s obligations and duties in this policy.

4. Term of Insurance

This policy will begin and end at 12:01 am standard time at the location of property insured on the dates shown in the Policy Declarations.

5. Premium

The premium shown in the Policy Declarations is the term premium due as of the inception date of the policy.

6. Territory

This policy covers within the fifty states comprising the United States of America and the District of Columbia as well as any interests of the State of Florida which may be situated abroad.

7. Loss Payable

Loss, if any, to be adjusted with and payable to the Insured or order, whose receipt will constitute a release of liability under this policy for such loss, to the extent damage has been determined.

8. Property Covered

Covering the following items as defined in the State of Florida Blanket Form attached:

A Building B Contents C Rental Income D Extra Expense

9. Warranties, Terms and Conditions

This insurance is subject to the same warranties, terms and conditions as are contained in the Certificate of Property Coverage and Certificate of Rental Value Coverage attached to this Policy (except as voided on attached copy or modified herein) as are contained in or as may be amended at the time of loss. With the exception of the valuation as respects named perils other than named windstorm and flood, which shall be based on replacement cost rather than actual cash value. Additionally, it is also agreed that storm surge is not considered flood as defined in this policy and instead is defined as being part of the Named Windstorm definition and shall apply on a per occurrence basis.

It is agreed all reference to coinsurance in this policy is waived and an Agreed Amount does apply.

10. Limits of Liability

A. $4,500,000 or 2% part of $225,000,000 excess of Deductibles including coverage for Named Windstorm and Flood, as sub-limited below

B. With respect to Rental Value/Extra Expense coverage this Company shall not be liable, in any one occurrence, for more than its proportion of the Rental Value/Extra Expense limit for each location, scheduled and on file with the Company.

11. Self-Insured Retention / Annual Aggregate

In consideration of the reduced premium charged for this policy, it is agreed that this insurance shall respond only with respect to loss in excess of the per occurrence self-insured retention and additional annual aggregate retention as detailed below:

The company’s obligation to make payment for loss shall apply only to the extent that the sum of covered losses less all recoveries and allowances for salvage or subrogation exceeds a $2,000,000 per occurrence self-insured retention. For losses exceeding the occurrence self- insured retention of $2,000,000, an additional annual aggregate retention of $40,000,000 will apply to all losses resulting from the perils of Named Windstorm and Flood. It is agreed that all loss adjustment expenses within this annual aggregate retention shall be the responsibility of the Insured, and that all loss adjustment activities within the self-insured retention shall be directed and controlled by the Insured. All losses including loss adjustment expenses, in excess of the $2,000,000 per occurrence self-insured retention, paid by the Insured shall accumulate toward exhaustion of the additional annual aggregate retention.

If the Company has paid losses within said retention, the Insured shall promptly reimburse the Company therefore. All recoveries and allowances for salvage or subrogation for which no allowance is made to the Insured shall belong to the Company. This in no way changes the rights of the Company to adjust losses covered by this policy whether or not the company is liable for such losses or for any part thereof. The Insured shall, within the time and in the manner prescribed in the policy, give the Company notice of any loss of the kind covered by the policy.

12. Excess of Loss Provisions:

A. As respects each loss occurrence which, but for the existence or other insurance and of limitations upon the amount of this insurance, would be covered hereunder, there shall first be determined the total amount thereof, net only of salvage subrogation or other recoveries and disregarding the participation of other insurance, covering such loss occur- rence in any manner.

B. This Company shall then be liable for its pro rata share of the excess (if any) of such net amount over the amount specified elsewhere in this policy as the underlying amount but this Company shall in no event be liable for more than the amount specified in this policy as the applicable amount of insurance or limit of liability.

C. Any recovery of subrogation or salvage made after payment of any loss to the Insured shall be treated in the same manner as if received prior to payment.

D. These provisions supersede any conflicting provisions of the policy.

13. Extra Expense

A. Extra Expense incurred resulting from loss, damage or destruction to property by any of the perils covered herein during the term of this policy.

B. Extra Expense means the excess of the total cost during the period of restoration of the damaged property chargeable to the operation of the Insured’s business over and above the total cost that would normally have been incurred to conduct the business during the same period had no loss or damage occurred.

14. Flood

A. Each loss by flood shall constitute a single occurrence hereunder if:

(1) any flood occurs within a period of the continued rising or overflow of any river(s) or stream(s) and the subsidence of same within the banks of such river(s) or stream(s);

or

(2) any flood results from any tidal wave or series of tidal waves caused by any one disturbance.

Flood is defined as a rising and overflowing of a body of water onto normally dry land. It is understood and agreed that storm surge shall not be considered flood as defined by this policy.

B. Should any time period referred to in Clause A, above commence prior to expiration or cancellation date of this policy, this Company shall pay all such flood losses occurring during such period as if such period fell entirely within the term of this policy.

C. This Company shall not be liable, however, for any loss caused by any flood commencing before the effective date and time or commencing after the expiration date and time of this policy.

D. With respect to the perils of flood, this Company shall not be liable, per occurrence and in the aggregate during the policy term for more than its proportion of $72,500,000

E. The underlying coverage for the peril of flood provides a maximum of $500,000 of coverage per commercial building and a maximum of $500,000 for contents within each commercial building, a maximum limit of liability of $250,000 applies for residential buildings, and a maximum of $100,000 applies to contents within each residential building.

15. Named Windstorm

For the purposes of this policy all losses resulting from the perils of Named Windstorm shall include all loss or damage, not otherwise excluded, occurring during a period of 72 consecutive hours which is caused by or results from a storm or weather disturbance which is named by the National Weather Service/ National Hurricane Center or any other recognized meteorological authority. Storm or weather disturbance includes all weather phenomenon, not otherwise excluded, associated with or occurring in conjunction with the storm or weather disturbance, including, but not limited to storm surge, wind, hail, sleet, tornadoes, hurricane or lightning. With respect to the peril of Named Windstorm, this company shall not be liable, per occurrence, for more than its proportion of $72,500,000

16. Occurrence

The term "occurrence" shall mean any one loss, disaster, casualty or series of losses, disasters, or casualties, arising out of one event. When the term applies to loss or series of losses from the perils of fire, lightning, explosion, named windstorm, windstorm or hail, smoke, riot or civil commotion, or sinkhole collapse, or flood one event shall be construed to be all losses arising during a continuous period of 72 hours. When filing proof of loss, the Insured may elect the moment at which the 72 hour period shall be deemed to have commenced, which shall not be earlier than when the first loss to any covered property occurs.

17. Coverage Additions

A. Definitions and Interpretations

(1) Loss Adjustment Expense

This term shall mean all expenditures (other than salaries and other remuneration of regular employees and officials of the fund) in connection with the disposition of claims on risk covered hereunder including investigations, adjustment and legal expenses and per diem expenses of adjusters and/or other employees of the State Risk Management Trust Fund-Property Program.

(2) Risk

A building and its contents, including rental income where applicable, shall be considered to be one risk.

(3) Valuation

The basis of settlement of any loss paid under this policy with respects to buildings, structures or personal property shall be on an Actual Cash Value basis; with the exception of the perils of:

1. Fire

2. Lightning

3. Explosion

4. Wind and Hail other than “Named Windstorm” as defined in section “15” Above

5. Smoke

6. Aircraft & Vehicles

7. Riot & Civil Commotion

8. Sinkhole Collapse

Which shall be valued at replacement cost excess of the $2,000,000 self-insured retention.

In the event of an occurrence where property damage is caused by more than one peril, if Named Windstorm or Flood are among the perils causing the loss, the basis of the loss settlement of any loss paid under this policy shall be the Actual Cash Value as respects buildings, structures and/or personal property. The Insured shall have the right to separate the loss amounts by peril for the purposes of application of the Valuation as specified in the section.

(4) Reporting Provision

The Named Insured shall report to the Company on a quarterly basis any new locations to the schedule of values on file with the Company.

It is understood and agreed that coverage shall automatically apply up to the policy limit listed on the Declarations Page of this policy for any property or location on file with the Named Insured at the time of the loss even if such property or location on file has not yet been reported to the Company on the most recent quarterly report of new locations.

It is understood and agreed that this insurance policy is not subject to premium adjustment.

(5) Self-Insured Retention (Annual Aggregate Retention)

The terms "annual "aggregate retention" and "self-insured retention" as used in this insurance policy shall be used interchangeably to refer to an additional retention for claims arising from a covered peril and which is retained by the insured before claims become payable by the Company.

B. Appraisal

If the Insured and the Company disagree on the amount of loss, either party may make within sixty days after the Company’s receipt of the proof of loss written demand for an appraisal of the loss. Each party will select a competent and impartial appraiser. The two appraisers will then select an umpire. If they cannot agree within fifteen days on an umpire either may request that selection be made by a judge of a court in Leon County, Florida. The appraisers will state separately the value of the property and the amount of the loss. If they disagree, they will submit their differences to the umpire. A decision agreed to by any two will be binding. Each party will pay its chosen appraiser and will bear equally the other expenses of the appraisal and of the umpire.

C. Suit Against the Company

No suit or action on this policy for the recovery of any claim will be sustainable in any court of law or equity unless the Insured will have fully complied with all the requirements of this policy. The Company agrees that any action or proceeding against it for recovery of any loss under this policy will not be barred if commenced within twelve months next after the occurrence becomes known to the Insured unless a longer period of time is provided by applicable statute.

D. Cancellation/Non-Renewal

This policy may be cancelled at any time at the request of the Insured, in which event the Company shall retain the pro rata premium for the time coverage has been in force; or it may be non-renewed by the Company by sending written notice by registered mail to the Insured, at the address shown in this policy, not less than one hundred and twenty (120) days prior to expiration.

This policy, however, may be cancelled for non-payment of premium by notification of the Insured by written notice, advising thirty (30) days thereafter such cancellation shall be effective.

E. Titles of Paragraphs

The titles or various paragraphs of this form (and/or endorsement and supplemental contracts, if any, now or hereafter attached to this policy) are inserted solely for convenience of reference and shall not be deemed in any way to limit or affect the provisions to which they relate.

F. Inspection of Records

The Company shall be accorded by the Insured the opportunity to inspect, at any time with reasonable notice, all records of the Insured connected with the subject matter, which shall include, but not be limited to, all records of settlements made within the per Occurrence retention and the Self Insured Retention/Annual Aggregate Retention detailed in item 11.

herein.

G. Company Assistance and Cooperation

Upon request of the Insured, the Company shall furnish such reasonable technical services as are customarily furnished by an insurer.

H. Assistance & Cooperation of the Insured

The Insured will cooperate with this Company and, upon this Company’s request and expense will:

A. Submit to examination under oath at such times as may be reasonably required about any matter relating to this insurance or any claim;

B. Attend hearings and trials;

C. Assist in:

(1) effecting settlements;

(2) securing and giving evidence,

(3) obtaining the attendance of witnesses, and conducting suit.

I. Errors & Omissions

No unintentional errors or omissions in description or location of property or valuation of property will prejudice the Insured’s right of recovery, but will be reported to the Company as soon as practicable when discovered.

J. In Case of Loss

(1) Notice of Loss

The Insured will, as soon as practicable, report in writing to the Company every loss:

1. in excess of $1,000,000 for all insured perils other than Named Windstorm & Flood;

2. in excess of $20,000,000 aggregate loss for the perils of Named Windstorm & Flood which may give rise to a claim under this policy. For any loss requiring a coordinating adjuster, the companies agree to use at the Insured’s option:

Chuck McAinley, Sedgewick

1818 Market Street, Suite 2720 Philadelphia, PA 19103

Nothing herein this condition “K” shall prevent the Company from instructing its own loss adjuster to adjust a loss on its behalf and the Insured will cooperate fully with the Company and any loss adjuster it instructs to act on its behalf. Further the Insured shall cooperate fully with the Company and its loss adjuster in the investigation and adjustment of any claim.

The Insured’s notice of loss submitted to the Broker of Record shall constitute notice to the Company.

(2) Proof of Loss:

The Insured will, as soon as practicable, file with the Company a signed and sworn detailed proof of loss.

(3) Payment of Loss:

All adjusted claims will be due and payable no later than thirty days after presentation and acceptance of proof of loss by this Company or its appointed representative.

K. Statutes

(1) If any of the Articles of the Certificate of Property Coverage and Certificate of Rental Value Coverage conflict with the laws or statutes of any jurisdictions in which this policy applies, this policy is amended to conform to such laws or statutes.

(2) The Debris Removal Clause in the Certificate of Property Coverage and Certificate of Rental Value Coverage is hereby deleted and the following wording hereby substituted therefore

L. Debris Removal

The Company will pay the expense to remove debris of insured property damaged or destroyed by an insured peril during the policy term up to the prescribed limits as defined in the primary property policy language.

The Company will not pay the expense to:

a. Extract contaminants or pollutants from the debris; or

b. Extract contaminants or pollutants from land or water; or

c. Remove, restore or replace contaminated or polluted land or water; or

d. Remove or transport any property or debris to a site for storage or decontamination required because the property or debris is affected by pollutants or contaminants, whether or not such removal, transport, or decontamination is required by law or regulation.

It is a condition precedent to recovery under this extension that the company shall have paid or agreed to pay for direct physical loss or damage to the property insured hereunder and that the Insured shall give written notice to the Company of intent to claim for cost of removal of debris or cost to clean up not later than twelve months after the date of such physical loss or damage.

M. The following Perils are excluded under this Policy:

(1) Authorities Exclusion:

Costs, fines, penalties or expenses, incurred or sustained by the Insured or imposed on the Insured at the order of any Government Agency, Court or Authority in connection with any kind or description of environmental impairment including seepage or pollution or contamination from any cause.

(2) No Third Party Rights

This policy is solely between the Company and the Insured, and no certificate holder, claimant or other third party shall have any rights under this Agreement.

N. Participating Entity Sublimits

It is understood and agreed that sublimits illustrated in the attached Certificate of Property Coverage and / or Certificate of Rental Value Coverage shall only apply to the amount that applies to the loss attributable to the specific loss paid by the State Risk Management Trust Fund to each Certificate Holder.

In the event of loss payable under this policy that is attributable to more than one Certificate issued by the State Risk Management Trust Fund, this policy shall be liable for its proportionate share of the total amount of loss payable under each Certificate issued, however, this Company’s liability shall not exceed the policy limit shown on the Declarations Page of this policy in any one occurrence regardless of the number of Certificates issued and involved in any one occurrence.

ENDORSEMENT NO.1

In consideration of the premium charged, it is hereby understood and agreed that this policy is amended as follows:

The Company shall not be liable for any loss or damage caused by, arising out of, contributing to, or resulting from fungus, mold(s), mildew or yeast; or any spores or toxins created or produced by or emanating from such fungus, mold(s), mildew or yeast;

a) fungus includes, but is not limited to, any of the plants or organisms belonging to the major group fungi, lacking chlorophyll, and including mold(s), rusts, mildews, smuts and mushrooms;

b) mold(s) includes, but is not limited to, any superficial growth produced on damp or decaying organic matter or on living organisms, and fungi that produce mold(s);

c) spores means any dormant or reproductive body produced by or arising or emanating out of any fungus, mold(s), mildew, plants, organisms or microorganisms, But, if loss or damage from a “specified covered peril” herein results to covered property, then this policy will cover such ensuing loss or damage not otherwise excepted or excluded from coverage.

“Specified covered peril”, as used above, means: fire, lightning, explosion, windstorm including Named Windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, leakage from fire extinguishing systems, falling objects, weight of snow or ice or sleet, water damage, flood, and sinkhole.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.

WIC Policy Number NAP 0452254 01

DFS-D0-852 Revised 3/01

DEPARTMENT OF FINANCIAL SERVICES

Division of Risk Management

State Risk Management Trust Fund

Certificate of Property Coverage

Various provisions in this certificate restrict coverage. Read the entire certificate carefully to determine rights, duties and what is and is not covered.

Coverage for defending and paying claims under this certificate is provided under the authority of Chapter 284, Florida Statutes, wherein the state is authorized to administer a self-insurance program. Provision of this certificate does not constitute the issuance of insurance other than on a self-insurance basis, and payment of any covered claim obligations is contingent upon availability of legislative funding.

Throughout this policy the words "you" and "your" refer to the State Agency, Board, Bureau, or other authorized entity shown in the Declarations. The words "we", "us" and "our" refer to the State Risk Management Trust Fund (the Fund) or any other successor trust fund administered by the Division of Risk Management for the purposes of providing property loss coverage.

Other words and phrases that appear in "quotation marks" have special meaning. Refer to SECTION H -

DEFINITIONS.

A. COVERAGE

We will pay for direct physical loss of or damage to Covered Property at the premises described in the Declarations caused by or resulting from any Covered Cause of Loss.

1. Covered Property Covered Property means the following types of property for which a Limit of Insurance is shown in the Declarations:

a. Building, meaning the building or structure described in the Declarations, including:

(1) Completed additions;

(2) Permanently installed:

(a) Fixtures;

(b) Machinery; and

(c) Equipment;

(3) Personal property owned by you that is used to maintain or service the building or structure or its premises, including:

(a) Fire extinguishing equipment;

(b) Outdoor furniture;

(c) Floor coverings; and

(d) Appliances used for refrigerating, ventilating, cooking, dishwashing or laundering;

(4) If not covered by other insurance:

(a) Additions, alterations and repairs to the building or structure;

(b) Materials, equipment, supplies and temporary structures, on or within 100 feet of the described premises, used for making additions, alterations or repairs to the building or structure.

b. Your Business Personal Property located in or on the building described in the Declarations or in the open (or in a vehicle) within 100 feet of the described premises, consisting of the following:

(1) Furniture and fixtures;

DFS-D0-852 Revised 3/01

(2) Machinery and equipment;

(3) "Stock";

(4) All other personal property owned by you and used in your agency;

(5) Your improvements and betterments as a tenant. Improvements and betterments are fixtures, alterations, installations or additions:

(a) Made a part of the building or structure you occupy but do not own; and

(b) You acquired or made at your expense but cannot legally remove.

2. Property Not Covered

Covered Property does not include:

a. Accounts, bills, currency, deeds, food stamps or other evidences of debt, money, notes or securities; lottery tickets held for sale are not securities;

b. Animals;

c. Bridges, roadways, walks, patios or other paved surfaces;

d. The cost of excavations, grading, backfilling or filling;

e. Foundations of buildings, structures, machinery or boilers if their foundations are below:

(1) The lowest basement floor; or

(2) The surface of the ground, if there is no basement;

f. Land (including land on which the property is located), water, growing crops, lawns and plants;

g. Business personal property while airborne or waterborne;

h. Personal property not owned by the State of Florida;

i. Pilings, piers, wharves or docks;

j. Property that is covered under another policy, except for the excess of the amount due (whether you can collect on it or not) from that other insurance;

k. Retaining walls that are not part of the building.

l. Underground pipes, flues, drains, or electrical and communication wiring;

m. The cost to research, replace or restore the information on valuable papers and records, including those which exist on electronic or magnetic media;

n. Vehicles or self-propelled machines (including aircraft or watercraft) that:

(1) Are licensed for use on public roads;

or

(2) Are operated principally away from the described premises;

o. Grain, hay, straw or other crops;

p. Fences, including attached devices, unattached radio or television antennas, including their lead-in wiring, masts or towers (except for towers insured separately as a stand alone structure), signs (other than signs attached to buildings), trees, shrubs or plants, stand alone light poles/fixtures all except as provided in the Coverage Extensions.

q. Fine arts, manuscripts, nitrocellulose films, museum collections, artifacts, relics, bullion;

r. Surplus property Business Personal Property declared surplus property but stored on the premises are deemed to have no value for the purpose of making claim under this certificate.

s. Buildings that have been abandoned or selected for removal from the premises or selected for demolition.

B. COVERED CAUSES OF LOSS

1. Fire.

2. Lightning,

3. Explosion, including the explosion of gases or fuel within the furnace of any fired vessel or within the flues or passages through which the gases of combustion pass. This cause of loss does not include loss or damage by:

a. Rupture, bursting or operation of pressure relief devices; or

b. Rupture or bursting due to expansion or swelling of the contents of any building or structure, caused by or resulting from water; or

c. Any loss which would normally be covered only under a standard boiler and machinery policy.

4. Windstorm or Hail, but not including:

a. Frost or cold weather;

b. Ice (other than hail), snow or sleet, whether driven by wind or not; or

c. Loss or damage to the interior of any building or structure, or the property inside the building or structure, caused by rain, snow, sand or dust, whether driven by wind or not, unless the building or structure first sustains wind or hail damage to its roof or walls through which the rain, snow, sand or dust enters.

5. Smoke causing sudden and accidental loss or damage. This cause of loss does not include smoke from agricultural smudging or industrial operations.

6. Aircraft or Vehicles, meaning only physical contact of an aircraft, a spacecraft, a self-propelled missile, a vehicle or an object thrown up by a vehicle with the described property or with the building or structure containing the described property. This cause of loss includes loss or damage by objects falling from aircraft. We will not pay for loss or damage caused by or resulting from owned or non-owned vehicles which are operated by you.

7. Riot or Civil Commotion, including:

a. Acts of striking employees while occupying the described premises; and

b. Looting occurring at the time and place of a riot or civil commotion.

8. Sinkhole Collapse, meaning loss or damage caused by the sudden sinking or collapse of land into underground empty spaces created by the action of water on limestone or dolomite. This cause of loss does not include:

a. The cost of filling sinkholes; or

b. Sinking or collapse of land into man-made underground cavities.

9. Flood

As per Section 284.01, Florida Statutes, this section incorporates the same provisions as the NATIONAL FLOOD INSURANCE PROGRAM. That program defines "Flood" as:

a. A general and temporary condition of partial or complete inundation of normally dry land areas from:

(1) The overflow of inland or tidal waters.

(2) The unusual and rapid accumulation or runoff of surface waters from any source.

(3) Mudslides (i.e., mudflows), which are proximately caused by flooding as defined in subparagraph a.(2) above and are akin to a river of liquid and flowing mud on the surfaces of normally dry land areas as when earth is carried by a current of water and deposited along the path of the current.

b. The collapse or subsidence of land along the shore of a lake or other body of water as a result of erosion or undermining caused by waves or currents of water exceeding the anticipated cyclical levels which result in flooding as defined in subparagraph a.(1) above.

THIS SECTION DOES NOT CONSTITUTE THE

ENTIRE FLOOD POLICY. IT IS MERELY

PROVIDED FOR AGENCY GUIDANCE IN THIS

AREA ONLY. PLEASE REFER TO THE

NATIONAL FLOOD INSURANCE PROGRAM

POLICY, WHICH IS ATTACHED TO THIS

CERTIFICATE.

10. Additional Coverages

a. Debris Removal

(1) We will pay your expense to remove debris of Covered Property caused by or resulting from a Covered Cause of Loss that occurs during the policy period. We will pay 25% of the loss or $5,000, whichever is greater. The expenses will be paid only if they are reported to us in writing within 90 days of the date of direct physical loss or damage.

(2) This Additional Coverage does not apply to costs to extract "pollutants".

b. Preservation of Property If it is necessary to move Covered Property from the described premises to preserve it from loss or damage by a Covered Cause of Loss, we will pay up to $10,000 for any direct physical loss or damage to that property:

(1) While it is being moved or while temporarily stored at another location;

and

(2) Only if the loss or damage occurs within 30 days after the property is first moved.

11. Coverage Extensions Except as otherwise provided, the following Extensions apply to property located in or on the building described in the Declarations or in the open (or in a vehicle) within 100 feet of the described premises.

a. Newly Acquired or Constructed Property

(1) You may extend the insurance that applies to Building to apply to:

(a) Buildings you acquire at locations, other than the described premises. The most we will pay for loss or damage under this Extension is $250,000 per building.

(2) You may extend the insurance that applies to Your Business Personal Property to apply to that property at any location you acquire. The most we will pay for loss or damage under this Extension is 10% of the Limit of Insurance for your Business Personal Property shown in the Declarations, but not more than $10,000 at each building.

(3) Coverage under this Extension for each newly acquired or constructed property will end when any of the following first occurs:

(a) This policy expires.

(b) 30 days expire after you acquire the property; or

(c) You report values to us.

b. Property Off-Premises You may extend the insurance provided by the Fund to apply to your Covered Property, other than "stock", that is temporarily at a location you do not own, lease or operate. The Extension does not apply to Covered Property:

(1) In or on a vehicle unless the vehicle is owned or operated by an employee of the State of Florida and the vehicle is being used for State business;

(2) In the care, custody or control of anyone not employed by the State of Florida.

(3) At any fair or exhibition.

The most we will pay for loss or damage under this Extension is $10,000.

c. Trees, Shrubs and Plants You may extend the coverage provided by the Fund to apply to trees, shrubs and plants including debris removal expense, caused by or resulting from any of the following causes of loss:

(1) Fire;

(2) Lightning;

(3) Explosion;

(4) Riot or Civil Commotion; or

(5) Aircraft.

The most we will pay for loss or damage under this Extension is $1,000, but not more than $250 for any one tree, shrub or plant.

Each of these Extensions is additional insurance.

C. EXCLUSIONS

1. We will not pay for loss or damage caused directly or indirectly by any of the following.

Such loss or damage is excluded regardless of any other cause or event that contributes concurrently or in any sequence to the loss.

a. Ordinance or Law The enforcement of any ordinance or law:

(1) Regulating the construction, use or repair of any property; or

(2) Requiring the tearing down of any property including the cost of removing its debris.

b. Earth Movement

(1) Any earth movement (other than sinkhole collapse), such as an earthquake, landslide, mine subsidence or earth sinking, rising or shifting. But if loss or damage by fire or explosion results, we will pay for that resulting loss or damage.

(2) Volcanic eruption, explosion or effusion. But if loss or damage by fire, breakage of glass or volcanic action results, we will pay for that resulting loss or damage.

c. Governmental Action Seizure or destruction of property by order of governmental authority.

But we will pay for acts of destruction ordered by governmental authority and taken at the time of a fire to prevent its spread, if the property would normally be covered under this certificate.

d. Nuclear Hazard Nuclear reactors or the use, storage, or processing of nuclear fissionable materials. This exclusion as to nuclear properties or related reactors shall not be construed to eliminate the necessity of coverage on medical facilities, particle accelerators, cyclotrons, Van de Graff machines, or any properties associated therewith. If loss or damage by fire results, we will pay for that resulting loss or damage.

e. Off-Premises Services The failure of power or other utility service supplied to the described premises, however caused, if the failure occurs away from the described premises.

f. War and Military Action

(1) War, including undeclared or civil war;

(2) Warlike action by a military force, including action in hindering or defending against actual or expected attack, by any government, sovereign or other authority using military personnel or other agents; or

(3) Insurrection, rebellion, revolution, usurped power, or action taken by governmental authority in hindering or defending against any of these.

g. Water

(1) Water that backs up from a sewer, drain, or sump

(2) Water under the ground surface pressing on, or flowing or seeping through:

(a) Foundations, walls, floors or paved surfaces;

(b) Basements, whether paved or not; or

(c) Doors, windows or other openings.

But if loss or damage by fire or explosion results, we will pay for that resulting loss or damage.

(3) Water damage meaning accidental discharge or leaking of water or steam as the direct result of the breaking or cracking of any part of a system or appliance containing water or steam.

2. We will not pay for loss or damage caused by or resulting from:

a. Artificially generated electrical current, including electric arcing, that disturbs electrical devices, appliances or wires. But if loss or damage by fire results, we will pay for that resulting loss or damage.

b. Explosion of steam boilers, steam pipes, steam engines or steam turbines owned or leased by you, or operated under your control. But if loss or damage by fire or combustion explosion results, we will pay for that resulting loss or damage.

c. Mechanical breakdown, including rupture or bursting caused by centrifugal force. But if loss or damage by a Covered

Cause of Loss results, we will pay for that resulting loss or damage.

D. LIMITS OF COVERAGE

Coverage is not limited in any one occurrence or to the reported values shown in the Declarations, except for flood.

1. For loss or damage sustained due to FLOOD the following special limits apply in accordance with the NATIONAL FLOOD

INSURANCE PROGRAM:

a. Building:

(1) Residential $250,000

(2) Non-Residential $500,000

b. Contents:

a. Residential $100,000

b. Non-Residential $500,000

2. The limits applicable to the following Coverage Extensions are in addition to the Limits of Coverage.

a. Newly Acquired or Constructed Property

b. Property Off-Premises

c. Trees, Shrubs and Plants

3. Payments under the following Additional Coverages will not increase the applicable Limit of Insurance:

a. Preservation of Property; or

b. Debris Removal.

E. DEDUCTIBLE

We will not pay for loss or damage in any one occurrence, except flood, until the amount of loss or damage exceeds $2500.00:

For loss or damage due to Flood, the applicable deductible applies per location in accordance with the NFIP.

We will then pay the “Actual Cash Value” amount of loss or damage in excess of the Deductible.

F. LOSS CONDITIONS

The following conditions apply in addition to the Certificate of Coverage General Conditions.

1. Abandonment

There can be no abandonment of any property to us.

In the event the building is not replaced nor alternate space constructed, the Fund will not make a payment on the loss other than to pay for demolition and clean up from the loss. The alternate space to be constructed must house the functions originally housed in the destroyed building and it is to be constructed in the local vicinity of the original structure.

2. Duties In The Event Of Loss Or Damage

a. You must see that the following are done in the event of loss or damage to Covered Property.

(1) Immediately notify the State Fire Marshal and the Division of Risk Management, Property Section, in the event of a fire or damage resulting in failure of the fire alarm system.

(2) Give prompt notice, by telephone, of the loss or damage to us so we may inspect the damage prior to commencing with repairs and then follow up with a written Notice of Loss Form.

ANY LOSS NOT REPORTED IN

WRITING TO THE DIVISION WITHIN

NINETY (90) DAYS FROM THE DATE

OF THE LOSS, WILL NOT BE PAID

UNLESS:

(a) OUR ABILITY TO ASSESS THE

LOSS HAS NOT BEEN

IMPAIRED BY THE DELAY

AND,

(b) THE DOLLAR ($) AMOUNT OF

THE LOSS HAS NOT

INCREASED DUE TO THE

DELAY.

(3) As soon as possible, give us a description of how, when and where the loss or damage occurred.

(4) Take all reasonable steps to protect the Covered Property from further damage by a Covered Cause of Loss.

If feasible, set the damaged property aside and in the best possible order for examination. Also keep a record of your expenses for emergency and temporary repairs, for consideration in the settlement of the claim. This will not increase the Limit of Coverage.

(5) In the event of a lightning claim, complete the Lightning Statement Form in its entirety. Make sure the description of damage as well as the evidence of a direct strike is detailed.

(6) At our request, give us complete inventories of the damaged and undamaged property. Include quantities, original purchase dates, costs, values, current replacement costs and amount of loss claimed.

(7) As often as may be reasonably required, permit us to inspect the property proving the loss or damage.

(8) Cooperate with us in the investigation or settlement of the claim.

This includes providing us with detailed invoices and payment evidence to document claim expenses.

(9) Send us a signed proof of loss within 30 days of receipt. We will supply you with the necessary forms.

3. Loss Payment

a. In the event of loss or damage covered by this Coverage Certificate, at our option, we will either:

(1) Pay the “Actual Cash Value" of damaged property; which has been replaced with property of like kind and quality; or

(2) Pay the cost of repairing; whichever is less.

b. If funds are available we will pay for covered loss or damage within 30 days after we receive the signed proof of loss.

4. Vacancy Permission is granted for all buildings to be “vacant” or “unoccupied” on the condition that the premises shall be kept locked and secured to prevent trespassing or the entrance of unauthorized persons during the term of vacancy or unoccupancy.

The Division must be notified immediately when a building becomes “vacant” or “unoccupied.” Should the “vacant” or “unoccupied” building later become occupied, the Division must also be notified.

5. Valuation We will determine the value of Covered Property in the event of loss or damage at "actual cash value" at the time of loss or damage.

G. GENERAL CONDITIONS

1. Other Insurance If there is other insurance covering the same loss or damage, we will pay only for the amount of covered loss or damage in excess of the amount due from that other insurance, whether you can collect on it or not. But we will not pay more than the applicable Limit of Coverage.

2. Statutory Control In the event of any conflict between the provisions or coverages in this certificate and the provisions of any Florida Statutes or law including but not limited to the aforesaid, said laws and statutes shall control.

3. Fire Protection In consideration of the rate at which this certificate is written it is stipulated that you shall exercise due diligence in maintaining in complete working order all equipment and services, installed for the detection, prevention, and extinguishment of fire in the property covered by this certificate and under your control. It is further stipulated that if changes are made to any sprinkler system, its water or chemical supplies, or to any watchman service you must notify us immediately in writing.

4. Natural Disaster In the event of a natural disaster, whether or not officially declared, of such magnitude that our self retained limit of liability plus the available excess insurance is exhausted:

a. We shall only be liable to pay the amount of our self retained limit of liability and any excess insurance applicable to the occurrence; and

b. We shall pay properly documented claims as they are presented for payment.

Unpaid claims shall be classified as uninsured and shall constitute a general unfunded liability to the State. We may assist you in determining the number and amount of individual uninsured "covered claims".

5. Transfer of Rights of Recovery Against Others to Us We may require you to transfer all rights of recovery against any party for loss to the extent of our payment. You must do everything necessary to secure our rights and must do nothing after loss to impair them.

6. Leased Buildings We will cover leased buildings only when coverage is required by the terms of a valid written lease agreement when such lease agreement has been accepted in writing by the Division.

H. DEFINITIONS

1. "Actual Cash Value" Replacement cost less depreciation.

2. "Pollutants" means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. Waste includes materials to be recycled, reconditioned or reclaimed.

3. "Stock" means merchandise held in storage for sale, raw materials and in process or finished goods, including supplies used in their packing or shipping.

4. ”Unoccupied” means containing contents pertaining to the occupancy of the building while operations or other customary activities are suspended.

5. “Vacant” means containing no contents pertaining to operations or activities customary to occupancy of the building.

DEPARTMENT OF FINANCIAL SERVICES

Division of Risk Management

State Risk Management Trust Fund Certificate of Rental Value Coverage

DFS-D0-853(Rev. 6/00)

Various provisions in this certificate restrict coverage. Read the entire certificate carefully to determine rights, duties and what is and is not covered.

Coverage for defending and paying claims under this certificate is provided under the authority of Chapter 284, Florida Statutes, wherein the state is authorized to administer a self-insurance program. Provision of this certificate does not constitute the issuance of insurance other than on a self-insurance basis, and payment of any covered claim obligations is contingent upon availability of legislative funding.

Throughout this policy the words "you" and "your" refer to the State Agency, Board, Bureau, or other authorized entity shown in the Declarations. The words "we", "us" and "our" refer to the State Risk Management Trust Fund (the Fund).

Other words and phrases that appear in "quotation marks" have special meaning. Refer to SECTION E - DEFINITIONS.

A. COVERAGE

We will pay for the actual loss of Rental Value you sustain due to necessary suspension of your "operations" during the "period of restoration". The suspension must be caused by direct physical loss of or damage to property at the premises described in the Declarations, caused by or resulting from any Covered Cause of Loss.

1. Rental Value

Rental value means the:

a. Total anticipated rental income from tenant occupancy of the premises described in the Declarations as furnished and equipped by you; and

b. Amount of all charges which are the legal obligation of the tenant(s) and which would otherwise be your obligations, and

c. Fair rental value of any portion of the described premises which is occupied by you.

2. Covered Causes Of Loss See applicable Causes of Loss as shown in your Certificate of Property Coverage.

3. Additional Coverages

a. Expenses to Reduce Loss. We will pay any necessary expenses you incur, except the cost of extinguishing a fire, to reduce the amount of loss under this Certificate. We will pay for such expenses to the extent that they do not exceed the amount of loss that otherwise would have been payable under this Certificate.

b. Civil Authority. We will pay for the actual loss of Rental Value you sustain caused by action of civil authority that prohibits access to the described premises due to direct physical loss of or damage to property, other than at the described premises, caused by or resulting from any Covered Cause of Loss.