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Home My WebLink AboutCRA-R-16-0056 Property BinderTjCRA Century Risk Advisors Consultative Insurance and Risk Management Advisors & Brokers October 12, 2016 Mr. Jason Walker Omni Redevelopment District Community Redevelopment Agency 1401 N Miami Avenue Miami, FL 33132 Re: Commercial Property; General Star Indemnity Company, Policy Number IAG966716 Effective Date: 10/1/2016 to Expiration Date: 10/1/2017 Dear Jason: 2600 North Military Trail, Suite 240 Boca Raton, Florida 33431 Main Telephone: 561.409.2420 Facsimile: 561.367.3126 www.CenturyRiskAdvisors.com Thank you for accepting insurance coverage recently proposed by our office to become effective 10/1/2016. We have ordered coverage bound, and at this time we enclose your Insurance Binder/s, or Confirmation of Coverage, to serve as temporary evidence of such insurance pending preparation and receipt of the actual policy or policies by the insurance carrier/s. While we have reviewed these document/s for accuracy, we urge you to take time to make certain that the enclosed forms agree with your records and that no changes are currently required. Please note that the carrier only charged $380 plus tax and fees for the inspection fee, the remaining $380 plus tax and fees will be charged when we endorse location 1 in December. Please feel free to contact Crystal Romero -Sherman at (561)409-2426 or me at any time if you have questions about your new coverage or if any insurance evidence of coverage may be needed by others to whom we've not already provided it. We at Century Risk Advisors look forward to exceeding your expectations as to our risk management counsel and client service. Yours truly, Donna Strandell Account Manager Email: donna.strandellc centuryra.com Offices in Boca Raton and Coral Gables .1mWINS Brokerage October 3, 2016 Crystal Romero -Sherman Century Risk Advisors 2600 N Military Trail Suite 240 Boca Raton, FL 33431 RE: Omni Redevelopment District Community Red Property AmWINS Brokerage of Florida, Inc. 7108 Fairway Driv, Suite 200 Palm Beach Gardens, FL 33418 amwins.com License No.: 3399 PROPERTY CONFIRMATION OF COVERAGE Dear Crystal: In accordance with your instructions to bind coverage, this Confirmation of Coverage confirms that coverage is bound for your client as follows: DATE OF ISSUANCE: 10/3/2016 NAMED INSURED: Omni Redevelopment District Community Red MAILING ADDRESS: 1401 North Miami Avenue Miami, FL 33132 CARRIER: General Star Indemnity Company POLICY NUMBER: IAG966716 POLICY PERIOD: From 10/1/2016 to 10/1/2017 12:01 A.M. Standard Time at the Mailing Address shown above POLICY PREMIUM: $61,750.00 Premium $415.00 Fees $3,205.50 Surplus Lines Taxes $65,370.50 Total TRIA PREMIUM: Rejected MINIMUM EARNED PREMIUM: As per the attached carrier binder Page 1 of 2 POLICY PREMIUM AND SURPLUS LINES TAXES SUMMARY FEES: Fee Taxable Amount Florida Market Inspection Fee Yes $380.00 AmWINS Service Fee Yes $35.00 Total $415.00 Total Fees $415.00 SURPLUS LINES TAX CALCULATION: Description Florida Surplus Lines Tax Stamping Fee DEM EMP Taxable Taxable Fee Tax Basis Rate Tax Premium $61,750.00 $61,750.00 $415.00 $415.00 $62,165.00 $62,165.00 5.00% $3,108.25 0.15% $93.25 Flat $4.00 Total $3,205.50 Total Surplus Lines Taxes and Fees $3,205.50 IMPORTANT NOTICE: THE NONADMITTED & REINSURANCE REFORM ACT (NRRA) WENT INTO EFFECT ON JULY 21, 2011. ACCORDINGLY, SURPLUS LINES TAX RATES AND REGULATIONS ARE SUBJECT TO CHANGE WHICH COULD RESULT IN AN INCREASE OR DECREASE OF THE TOTAL SURPLUS TAXES AND FEES OWED ON THIS PLACEMENT. IF A CHANGE IS REQUIRED, WE WILL PROMPTLY NOTIFY YOU. ANY ADDITIONAL TAXES OWED MUST BE PROMPTLY REMITTED TO AMWINS. ADDITIONAL TERMS AND Payment is due within 20 days of bindings CONDITIONS: See attached for policy terms & conditions The attached Binder from the carrier sets out the precise coverage terms and conditions being bound. Please review this information carefully. If after review, you find any errors in this Confirmation of Coverage or the carrier's Binder, please contact us immediately to discuss. Should you have any questions or need anything further, please feel free to contact me. Thank you for your business. We truly appreciate it. Sincerely, Bryan Herrera Senior Technical Assistant I AmWINS Brokerage of Florida, Inc. T 561.847.8486 I F 877.570.9323 I Bryan.Herrera@amwins.com 7108 Fairway Drive I Suite 200 I I Palm Beach Gardens, FL 33418 I amwins.com On behalf of, Jennifer Klassen Senior Vice President I AmWINS Brokerage of Florida, Inc. T 561.847.8495 I F 877.570.9323 I Jennifer.Klassen@amwins.com 7108 Fairway Drive I Suite 200 I I Palm Beach Gardens, FL 33418 License No.: 0F41738 An AmWINS Group Company amwins.com Page 2 of 2 GeneralStar w BINDING ACKNOWLEDGEMENT General Star Management Company Named Insured: OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY Locations: 50 North West 14th Street, Miami , FL 33136 per schedule on file with Company Policy Term: 10/1/2016 - 2017 Application ID: 1768968 (Company: General Star Indemnity Company A.M. Best A++ XV Causes of Loss: Special including Equipment Breakdown Excluding: Flood, Earthquake, EQSL Forms: X ISO and General Star Forms Limit of Insurance: As shown below - scheduled on policy Sublimits: Ordinance or Law A - Included Ordinance or Law B - 10% of each individual building value Ordinance or Law C - 10% of each individual building value Sewer Back Up - $25,000 Valuation: X X X X RCV (Building Only) Coverage Provided Building Business Personal Property Business Income with Extra Expense including Rental Value ACV NIL Coinsurance Declared Values $14,000,000 Scheduled $2,000,000 Scheduled $250,000 Scheduled Total Declared Values $16,250,000 Premium Inspection Fee Deductibles: Named Storm: 3% of the Limit of Insurance of each insured building at the time of loss, including the Limit of Insurance of any Business Income, Rental Value, or Extra Expense coverage, per calendar year. All other wind or hail: $50,000 per occurrence All other covered causes of loss : $5,000 per occurrence $61,750 + taxes & fees $380 Minimum Earned at Inception: 35%* Our q X X X X X note is subject to the following conditions: Service of Suit Clause Total Loss Endorsement Asbestos and Toxic Materials Exclusion Absolute Pollution Exclusion *Earned Minimum Premium Endorsement for Catastrophic Windstorm Exposure X X X X X X X X X X X X X X X Comments: Fungus Clean Up and Removal Limitation War, Military Action and Terrorism Exclusion Occurrence Limit of Insurance Endorsement EDP is covered as BPP No blanket coverage - values will be scheduled by building Conditional Exclusions of Terrorism and Related Coverage Provision Thirty (30) days notice of cancellation (45 days in Florida), Ten (10) days for non-payment of premium Exterior Insulation and Finishing Systems Exclusion of Wind, Hail, and Water Damage Catastrophic Cause of Loss Per Occurrence Endorsement Amendment of the Deductible Provision Favorable inspection Confirmation in writing of five (5) year loss history (no property losses) Warrant automatic sprinkler system covering entire building Warrant central station burglar alarm Warrant automatic hood duct extinguishing systems covering all commercial cooking surfaces Special Conditions: * See attached TRIA notice Quote includes General Star's COMPAC Endorsement: • Accounts Receivable $10,000 • Employee Dishonesty $5,000 • Fire Dep't Service Charge $2,500 • Monies & Securities $5,000 • Outdoor Property $10,000 (Fence, Radio, TV, Antennas, Signs) (Coverage is limited to specified perils) • Outdoor Property $2,500 (Signs only) (Coverage for all perils not specified) • Outdoor Property $500 each tree / $2,500 each occurrence (Trees, Shrubs or Plants) • Personal Property of Others $1,000 each item / $5,000 each location • Properties in Transit $10,000 • Property Off Premises $15,000 • Valuable Papers and Records.. $10,000 (other than Electronic Data) Quote includes Equipment Breakdown Coverage: • Equipment Breakdown Limit Same as Property Limit • Business Income/EE Same as Property BI/EE Limit, if Applicable • Expediting Expense $25,000 • Hazardous Substances $25,000 • Spoilage $25,000 • Data Restoration $500 • Demolition/ICC Follows Property Coverage • Newly Acquired Locations Follows Property Coverage • Service Interruption Follows Property Coverage: 24 Hour Waiting Period Applies NOTE: THIS BINDER IS BEING OFFERED IN RELIANCE ON THE INFORMATION SUBMITTED TO US BY THE APPLICANT. BY ACCEPTING THIS BINDER, THE APPLICANT WARRANTS THAT THE INFORMATION IS TRUE AND COMPLETE AND THAT NO MATERIAL FACTS HAVE BEEN MISREPRESENTED, OMITTED OR SUPPRESSED. REGARDLESS OF THE TERMS AND CONDITIONS REQUESTED, THIS COMPANY IS AGREEING TO PROVIDE THE TERMS AND CONDITIONS PRESENTED ABOVE. PREMIUM DOES NOT INCLUDE SURPLUS LINES TAX, FEES, OR CHARGES. YOU WILL BE RESPONSIBLE FOR ANY AND ALL FILINGS. PLEASE CALL IF YOU NEED CLARIFICATION OF THE ABOVE. IF YOU HAVE NOT ALREADY DONE SO, PLEASE COMPLETE AND SIGN THE ATTACHED TERRORISM RISK INSURANCE ACT POLICYHOLDER NOTICE OF TERRORISM INSURANCE COVERAGE FORM AND IMMEDIATELY RETURN IT TO US. BINDER Broker Responsible for Applicable Surplus Lines Tax or Fees We are considered bound effective 10/1/2016 to 10/1/2017 per the attached quotation. We have assigned Policy Number: IAG966716 Premium: $61,750 Authorized by: Tara Eibe Date: 3-Oct