Presented by:

LEGACY INSURANCE ASSOCIATES

Brandon Levy, CPIA President

2499 Glades Road Suite 313 Boca Raton, FL 33431

(561) 877-1922 ext.301 Blevy@legacyinsuranceassociates.com

4/08/2021

Winston Towers 600 Condominium Association, Inc.

This presentation is designed to give you an overview of the insurance coverages we recommend for your company. It is meant only as a general understanding of your insurance needs and should not be construed as a legal interpretation of the insurance policies that will be written for you. Please refer to your specific insurance contracts for details on coverages, conditions, exclusions and limitations.

Prepared for:

Insurance Proposal

2021-2022

2

Mailing Address on File: 210 174TH St Sunny Isles, FL 33160

Billing Address on File: Same as above Main Contact on File: Tania Gonzalez, LCAM winston600@the-beach.net (305)932-4755 Sam Goldberg (President) WT600.samgolberg@gmail.com (781)706-5043

The contacts listed are accurate and up to date. ☒ Yes or ☐ No

Please list any changes.

_________________________________ _________________________________

Applicant’s name/Title Agent’s name _____________________________________ _____________________________________ Applicant’s signature Agent’s signature _____________________________________ _____________________________________ Date signed Date signed

Association Contacts

3 | P a g e

Named Insured: Winston Towers 600 Association, Inc. Carrier:

Policy Term: 04/15/2021 to 04/15/2022

Limits

Coverage Description

$ 1,000,000 Each Occurrence – Bodily Injury and Property Damage $ 2,000,000 General Aggregate 2,000,000 Products and Completed Operations Aggregate $ 1,000,000 Personal and Advertising Injury $ 100,000 Damage to Rented Premises (each occurrence) $ Excluded Medical Expense (any one person) $ 1,000,000 Hired and Non-Owned Auto $ 2,500 Deductible (applicable to indemnity and claims Expense)

COMMERCIAL GENERAL LIABILITY SCHEDULE OF HAZARDS

(S) GROSS SALES – PER $1,000/SALES (A) AREA – PER 1,000/SQ. FT. (M) ADMISSIONS – PER 1,000/ADM (P) PAYROLL – PER $1,000/PAYROLL (C) TOTAL COST – PER $1,000/COST (U) UNIT – PER UNIT (T) OTHER

Loc.

Classification

Class Code

Exposure

01 Condominium Association 62003 391 U 01 Swimming Pool 48925 1 U 01 Tennis Court 46671 1 U

**Refer to your policy for a complete list of exclusions. New carrier being offered this year. – The incumbent carrier Mt Hawley issued a renewal with a premium of $82,950.00

Quote subject to:

• Completed and signed renewal app & Hired & Non-owned Supplemental Application.

• Confirmation third party security guards are unarmed and third party security service is required

to carry 1mil/2mil GL limits, A&B limits, with AI status for our insured

• Confirmation all Winston Towers Condo Associations are independent of one another

General Liability

4 | P a g e

General Liability Forms and Exclusions

5 | P a g e

Named Insured: Winston Towers 600 Association, Inc.

Carrier: Aspen Specialty Insurance Company Policy Term:

04/15/2021 to 04/15/2022

Limits

Coverage Description

$ 1,000,000 Per Claim

$ 1,000,000 Aggregate

$ 1,000 Retention

Includes:

[ ] Defense Costs Included in Limit of Liability

[ X ] Defense Costs Outside of Limit of Liability

Additional Conditions and Endorsements:

[ X ] Full prior acts coverage included (subject to Warranty Statement on Application)

[ X ] Property Manager Included

Are you aware of any event, circumstance or occurrence that took place during the expiring term that

could arise in a loss or claim?

Small amount of property was added to package policy for a discount on premium.

Package-Directors and Officers

6 | P a g e

7 | P a g e

Named Insured: Winston Towers 600 Association, Inc.

Carrier: Aspen Specialty Insurance Company Policy Term:

04/15/2021 to 04/15/2022

Discovery Form

Blanket Limit

$2,000,000

Deductible

$0

Employee Dishonesty

Money & Securities

Forgery & Alteration

Money Order & Counterfeit Currency

Computer Fraud Funds Transfer Fraud

*Higher limits available

Includes Social Engineering (Deception Fraud) Limit $100,000, Deductible $0

Covered Employees:

Management Company

Directors and Trustees

Non-Compensated Officers

*Florida Statute requires community associations to carry a crime policy with a limit equal to the

maximum funds available at any one time including reserves. Please advise our office in writing if this

limit needs to be amended.

Package-Crime

8 | P a g e

Named Insured: Winston Towers 600 Association, Inc. Carrier: Zenith Policy Term:

04/15/2021 to 04/15/2022

Limits Coverage Description As Required Workers’ Compensation $ 500,000 Employer’s Liability – Each Accident $ 500,000 Employer’s Liability – Disease-Policy Limit $ 500,000 Employer’s Liability – Disease-Each Employee

Rating Basis

Loc. Code Classification Est. Payroll

1 9015 Condominium Property Maintenance $ 115,292

1 9012 Condominium Property Managers $ 126,560

*Policy is subject to audit

Subject to confirmation on warranties:

• Certificates of Workers Compensation insurance are required for all sub-contractors and Subcontractor Employer’s Liability limits are required to equal or exceed the Association’s.

Workers’ Compensation

9 | P a g e

Named Insured: Winston Towers 600 Association, Inc.

Carrier: Fireman’s Fund Insurance Company Policy Term: 04/15/2021 to 04/15/2022

Limits

Coverage Description

$ 50,000,000 Each Occurrence $ 50,000,000 Aggregate $ 0 Retained Limit

Underlying Insurance Information Hired & Non-Owned Auto $ 1,000,000 Combined Single Limit General Liability $ 1,000,000 Each Occurrence $ 2,000,000 General Aggregate $ 100,000 Personal & Advertising Injury Employers Liability $ 500,000 B.I. Each Accident $ 500,000 B.I. Disease Each Employee $ 500,000 B.I. Disease Policy Limit Directors & Officers Liability $ 1,000,000 Each Occurrence/Aggregate

Umbrella optional limits and premiums Limit $25M Premium $12,775.00 Limit $50M Premium $15,490.00 Limit $100M Premium $18,876.00

Umbrella

10 | P a g e

Named Insured:

Winston Towers 600 Association, Inc.

Carrier: US Plate Glass Insurance Co.

Policy Term: 04/15/2021 to 04/15/2022

Named Insured:

Winston Towers 600 Association, Inc.

Glass & Sign

11 | P a g e

Carrier:

Wright National Flood Insurance Company (NFIP)

Policy Term: 04/15/2021 to 04/15/2022

May be eligible for Private Flood Market or LOMA (Letter of Map Amendment) Elevation Certificate Required to determine eligibility. Currently no known elevation certificate on file.

Premise Bldg. # Address Building Description

Coverage

1 1 210 174th Street, Sunny Isles

Beach, FL 33160 391 Units

Building Contents

Description

Flood Zone: AE Community Number: 120635 Community Name: Miami Dade County Elevation Difference: 1 Program Type: Regular Per the most recent appraisal dated 03/04/20 – the Flood replacement cost value for building only: $85,657,549.00

Flood

12 | P a g e

1. Legal Defense: Atlantic Mutual Insurance Company

2. Glass:

WHY EVERY INSURED NEEDS THIS UNIQUE LEGAL DEFENSE "GAP" INSURANCE POLICY

• During the past decade, more and more insurance companies are denying claims.

• When coverage is denied, the insured is forced to find a way to pay legal expenses.

• In most cases reserve funds are not enough to cover the entire cost, resulting in assessments against unit owners, homeowners, and tenants.

• This policy eliminated that exposure, saving tens of thousands of dollars in legal fees.

• This policy provides an UNLIMITED DEFENSE through trial with NO DEDUCTIBLE.

EXAMPLES OF DENIED CLAIMS • Unit owner assaulted on association property. Owner sues association and

board for inadequate security. Cost to defend was $48,000

• Water leaked from pipe into two units. Mold developed in both units. Both owners sued for property damage and medical cost. Cost to defend was $92.000

• Association failed to notify D&O carrier of a complaint. Three years later the complaint turned into a lawsuit. Coverage denied for late notice. Cost to defend was $430,000

• Contractor hired to perform work. During work, dispute occurs, and contractor sues for breach of contract. Cost to defend was $58,000.

• Complaint of housing discrimination alleging intentional unlawful practices. Cost to defend $22,000.

• Assoc. sued for depravation of rights and privileges secured by the

Federal Fair Housing Act. Cost to defend $47,000. Coverage in place effective 4/15/20 to 4/15/21 _________________________________________________________________________________

Form of Coverage: • Condominium Unit Glass • Common Area Glass

Covered Perils: Accident, Wind Storm, Hurricane, Tornado, Hail, Burglary, Vandalism, Terrorism and more Zero deductible option; US Plate pays 100% of covered losses Please provide the following:

• # of units up to 1200 sq ft

• # of units between 1201 – 3000 sq ft

• # of units between 3001 – 5000 sq ft

• # of units over 5000 sq ft

• Is Impact glass coverage needed?

• Is Balcony railing glass needed? Coverage is in place through US Plate, effective 4/15/20 to 4/15/21

Recommendations/Options

Quoted Upon Request

13 | P a g e

3. Workers

Compensation

4. Flood:

_________________________________________________________________________________ Program Highlights:

• Associations without direct employees – The “if any” program provides coverage for employees of uninsured parties if the association is deemed the “employer” of an injured employee of the service provider;

• Associations with direct employees – The Payroll Program provides traditional Workers’ Compensation benefits for association employees;

• Volunteer coverage – The program’s Voluntary Compensation Endorsement includes board members and any volunteer working at the direction of the board. In the definition of an “employee” eligible to receive benefit

Coverage is in place through Zenith, effective 4/15/20 to 4/15/21

_________________________________________________________________________________ • Flooding can happen anywhere, not just in high-risk areas: More than

25% of flood insurance claims come from outside the high-risk area. • Please advise if the association would like a formal quote

Coverage is in place through Wright Flood, effective 4/15/20 to 4/15/21 ___________________________________________________________________________________

5. Cyber:

CyberRisk Coverage provides options to help protect your community association and property managers with (4) insuring agreements

1. Network and information Security Liability 2. Regulatory Defense Expenses 3. Crisis Management Event expenses 4. Security Breach Remediation & Notification Expense

Does your association or property management implement the following safety precautions for the data that is in your care?

1. Is there a procedure in place for the creation and periodic updating of passwords?

2. Do you use Firewall technology? 3. Do you use anti-virus technology? 4. Is there a policy to upgrade all security software as new

releases/improvements become available? If you answered “Yes” to all the above, coverage is available at the following limits/premiums.

• $100,000 limit for premium of $436.00

Premiums subject to Underwriting Review

The Recommendations/Options listed are by no means a full list This page is meant only as a general understanding of Optional Coverages that may be available. Please review and advise if there are any areas of concern that may leave you at risk.

14 | P a g e

Named Insured:

Winston Towers 600 Association, Inc.

Description of Coverage

2020- 2021 Expiring Premium

2021- 2022 Renewal Premium

General Liability $ 29,595.40 $ 64,344.00

Crime & Directors and Officers $ 9,760.92 $ 13,080.70

Umbrella $50M Limit $ 15,094.00 $ 15,490.00

Workers Comp (Direct Bill) $ 5,230.00 $ 5,152.00

Glass $ 17,312.00 $ 17,312.00

Legal Defense $ 5,877.21 $ 5,877.21

Flood (Direct Bill) $ 50,993.00 $ 51,740.00

Total Estimated Premium $ 133,862.53 $ 172,995.91

Premium subject to Underwriting Review

Optional Recommended Coverages

Cyber $ 436.00

Environmental Liability Quoted Upon Request

Umbrella optional limits and premiums Limit $25M Premium $12,775.00 Limit $50M Premium $15,490.00 Limit $100M Premium $18,876.00

Premium Summary

15 | P a g e

Terms and Conditions

Require All Vendors, Suppliers and Contractors: 1) Hold Harmless and Indemnify the Insured 2) Maintain General Liability Limit of Liability of the Minimum of $1,000,000

General Liability –Coverage for Terrorism (TRIA) can be purchased for an additional premium of $3,025.00 plus any applicable taxes and Fees. Quote subject to:

• Completed and signed renewal app & Hired & Non-owned Supplemental Application.

• Confirmation third party security guards are unarmed and third party security service is required to carry

1mil/2mil GL limits, A&B limits, with AI status for our insured

• Confirmation all Winston Towers Condo Associations are independent of one another • Signed ACORD Applications, Terrorism, Selection/Rejection form

Workers Compensation –Zenith confirmation on warranties: • Certificates of Workers Compensation insurance are required for all sub-contractors and • Subcontractor Employer’s Liability limits are required to equal or exceed the Association’s limits. Direct Bill: $5,152.00 premium will be billed to the Association directly by Zenith

• Flood – Wright Flood Payment is to be remitted directly to the carrier

Legal Defense Option – Atlantic Mutual Insurance Company: • Subject to:

1. Receipt of Signed Application

2. Confirmation that Legal Action has not been brought against the association in the past 5 years. If It has, then an additional premium of $500 will apply. Underlying Policies that must remain in force during the policy period for Legal Defense to respond:

• General Liability • Directors and Officers

Terms and Conditions

16 | P a g e

Named Insured: Winston Towers 600 Association, Inc. I, as an authorized representative of Winston Towers 600 Association, Inc., accept the coverage terms and conditions as outlined in this proposal presented by Legacy Insurance Associates Unlimited, Inc. I understand the abbreviated outlines of coverage used throughout this proposal are not intended to express any legal opinion as to the nature of coverage. They are only visuals to a basic understanding of coverage. Any change to this proposal, as agreed upon by insured, agent and company is outlined below. Are you aware of any event, circumstance or occurrence that took place during the expiring term that

could arise in a loss or claim? ☐ YES or ☒ NO

Coverage Order: Bind Don’t Bind Premiums Renewal Coverages: General Liability Crime & D&O Umbrella $25M Limit Umbrella $50M Limit Umbrella $100M Limit Workers Comp (Direct Bill) Glass Flood Legal Defense Optional: Cyber Environmental Liability

___X_______ ___X_______ ___________ ___X_______ ___________ ___________ __X________ ___X_______ ____X______ ___________ Quote ___________

___________ $64,344.00 ___________ $13,080.70 ___X_______ $12,775.00 ___________ $15,490.00 ___X_______ $18,876.00 ___X_______ $5,152.00 ___________ $17,312.00 ___________ $51,740.00 ___________ $5,877.21 ____X______ $436.00 Don’t Quote ____X______

*Premiums subject to Underwriting Review The terms and conditions of this proposal will expire on 04/15/21 at 12:01am.

_____________________________________ _____________________________________ Applicant’s name/Title Agent’s name _____________________________________ _____________________________________ Applicant’s signature Agent’s signature _____________________________________ _____________________________________ Date signed Date signed

Proposal Acceptance

17 | P a g e

Requestors of Condominium Certificates of Insurance

With our continued focus on providing superior service to our customers, we are proud to

announce our adoption of a state-of-the-art insurance certificate delivery system.

EOI Direct provides round-the-clock, online access to insurance information for lenders,

mortgage brokers, closing agents, realtors and homeowners in need of policy detail for

community associations insured through our agency.

EOI Direct 412 E. Park Center Blvd., Suite 315

Boise, ID 83706 Phone: (877) 456-3643 Fax: (208) 694-3848

Email: help@eoidirect.com

To request a certificate of insurance, please call the number above or to request one online by

following the instructions below:

• Visit www.eoidirect.com

• Follow the links to register and write down your User ID and Password, so you can login

to your account when prompted.

• There is a delivery charge for mortgagee clause additions. There is no cost to register for

this service and Master Policy Information is available – free of charge online.

• Once you have logged on to your account, click on “Evidence of Insurance” to search and

access the association policy information you are seeking.

• For additional assistance, EOI Direct’s customer service department is available from 9AM

to 8PM (EST) Monday through Friday to provide additional assistance.

• Those without internet access may also contact the help desk at (877) 456-EOID [3643]

to order their certificate over the phone with a representative.

Please share this important notice with other members of your organization.

Thank you,

Legacy Insurance Associates Unlimited, Inc.

2499 Glades Road #313 Boca Raton, FL 33431

Office: (561) 877-1922 Ext. 303

Fax: (561) 513-6494

www.legacyinsuranceassociates.com

EOI Direct-Certificates