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Home My WebLink About000204.tiff Colorado Counties Casualty & Property Pool 2003 Excess Property Policy GP06301110 204 DELIVERY INVOICE 11"StftuI Company: ST. PAUL FIRE & MARINE INSURANCE COMPANY Policy Inception/Effective Date: 01/01/03 N S Agency Number: 0549614 U COLORADO CO. CASUALTY & PROPERTY POOL Transaction Type: R 1700 BROADWAY SUITE 1512 RENEWAL OF POLICY E DENVER CO 80290 Transaction number: 001 D Processing date: 01/24/03 16:46 Policy Number: GP06301110 A MARSH USA INC G 1225 17TH ST PLAZA STE 2100 E DENVER CO 80202-5534 N T Policy Description Amount Surtax/ Number Surcharge GP06301110 SERIES 1000 POLICY $651,274.00 40724 Ed.12-90 Printed in U.S.A. Page 1 INSURED COPY leStnul 40724 Ed.12-90 Printed in U.S.A. Page 2 INSURED COPY Z INTRODUCTION lieStRitil This policy protects against a variety of Policy Number: GP06301110 losses. There are also some restrictions. We've written this policy in plain, easy-to- ST PAUL understand English. We encourage you to read it carefully to determine what is and MAIL CODE 104F what is not covered, as well as the rights 385 WASHINGTON STREET and duties of those protected. ST. PAUL HN 55102-1118 In return for your premium, we'll provide the Your policy is composed of General Rules, protection stated in this policy. an explanation of What To Do If You Have A Loss, one or more Coverage Summaries, We, us, our, and ours mean St Paul Fire and and one or more Insuring Agreements Marine Insurance Company. We're a capital explaining your coverage. It may also stock company located in St. Paul, include one or more endorsements. Minnesota. Endorsements are documents that change your policy. The Policy Forms List shows The words you, your, and yours mean the all the forms included when this policy insured named here, which is a begins. COUNTY POOL COLORADO CO. CASUALTY & PROPERTY POOL One of our authorized representatives will also countersign the policy. 1700 BROADWAY SUITE 1512 DENVER CO 80290 This policy will begin on 01/01/03 and will continue until 01/01/04 Your former policy number is automatically replaced: GP06301110 Your premium for the policy period shown is: $651,274.00 However, please refer to the Premiums section of the General Rules to see how final premiums are determined. Our authorized representative is: 0549614 c/1„ MARSH USA INC IU UI 7 rest e� t 1225 17TH ST PLAZA STE 2100 DENVER CO 80202-5534 �� /,�/ Authorized Representative Date ��'d Secretary y Processing Date 01/24/03 16:46 001 40800 Ed. 5-87 Printed in U.S.A. Introduction ®St.Paul Fire and Marine Insurance Co.1984 All Rights Reserved Page 1 TMeStibul Page 2 oSt.Paul Fire and Marine Insurance Co.1984 All Rights Reserved POLICY FORM LIST TheStmuI Here's a list of all forms included in your policy, on the date shown below. These forms are listed in the same order as they appear in your policy. Form Ed. Title Nbr Date Introduction - St. Paul Fire And Marine Insurance Company 40800 05-87 Policy Form List 40502 01-80 Named Insured Endorsement 40502 01-80 Coverage Summary 40502 01-80 Insuring Agreement 40502 01-80 Year 2000 or Other Computer-Related Or Electronic 40502 01-80 Date Or Year Problems Excl. Endt. Mold or Bacteria Exclusion Endorsement With Limited 40502 01-80 Additional Coverage Earth Movement Endorsement 40502 01-80 Flood Endorsement 40502 01-80 Earlier Notice of Cancellation by Us Endorsement 40502 01-80 Transit Extension Insuring Clause 40502 01-80 Extra Expense - 40/80/100% of Limit 40502 01-80 Pollution Exclusion Endorsement 40502 01-80 Extension of Coverage Endorsement Pollution Cleanup and Removal 40502 01-80 Other Terms and Conditions 40502 01-80 Equipment Breakdown Schedule 40502 01-80 Equipment Breakdown Endorsement 40502 01-80 Builders Risk Equipment Breakdown Coverage 40502 01-80 Crime Protection Self-Insured Retention Endorsement 40502 01-80 Government Crime Protection Coverage Summary 40502 01-80 Government Crime Protection—Discovery Form 40502 01-80 NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 Form 40502 01-80 5 TheStPIul NAMED INSURED ENDORSEMENT 24.Kiowa It is agreed that the Participating Member 25.Kit Carson Counties named hereunder are included 26.Lake as Named Insureds: 27.La Plata 28.Las Animas 1. Alamosa 29.Lincoln 2. Archuleta 30.Logan 3. Baca 31.Mineral 4. Bent 32.Montrose 5. Chaffee 33.Morgan 6. Cheyenne 34.Otero 7. Clear Creek 35.Ouray 8. Conejos 36.Park 9. Costilla 37.Phillips 10.Crowley 38.Prowers 11.Custer 39.Pueblo i 12.Delta 40.Rio Blanco 13.Dolores 41.Rio Grande 14.Eagle 42.Routt 15.Elbert 43.Saguache 16.Fremont 44.San Juan 17.Garfield 45.Sedgwick 18.Gilpin 46.Summit 19.Grand 47.Teller 20.Gunnison 48.Washington 21.Hinsdale 49.Weld 22.Huerfano 50.Yuma 23.Jackson Other Terms All other terms of the policy remain the same. Name of Insured Policy Number GP06301110 Effective Date 01-01-2003 COLORADO CO. CASUALTY&PROPERTY POOL 40502 Ed. 1-80 Customized Form © St. Paul Fire and Marine Insurance Co. 1980 Page 1 of 1 TheStpaVl COVERAGE SUMMARY Named Insured: Colorado Counties Casualty& Property Pool 1. This policy covers Blanket Real, Personal Property, Contractors Equipment, Fine Arts, Glass, Valuable Papers, Data Processing Equipment and Media, Extra Expense, Builders Risks and Installations, Transit, and Vehicle Damage. 2. Limit of Liability The insurer(s) shall not be liable hereunder in any one loss, casualty or disaster for more than $50,000,000. per occurrence. For sublimits refer to page 1 of 8, paragraph III. 3. Each claim for loss or damage shall be adjusted separately and the Insurer's liability shall be limited to that amount excess of$150,000. DATE: AGENT NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 TheStpauI INSURING AGREEMENT I. NAME OF INSURED It is agreed that the unqualified word "Insured"wherever used in this insurance includes not only the Named Insured but also- any official, trustee or employee of the Named Insured while acting within the scope of his duties as such, and any person, organization,trustee or estate to whom the Named Insured is obligated by virtue of written contract or agreement to provide insurance such as is offered by this Insurance, but only in respect to operations by or on behalf of the Named Insured; II. TERRITORY This policy covers anywhere in the Continental United States of America and Canada. III. ULTIMATE NET LOSS In calculating the amount of Ultimate Net Loss, this insurance is deemed to have the following maximum sublimits: A. $ 1,000,000. in the aggregate annually as respects any Flood loss in Zone A. B. $10,000,000. in the aggregate annually as respects any Flood loss in Zone B, D and X500. C $50,000,000. in the aggregate annually as respects any Flood loss in Zone C. D. $25,000,000. in the aggregate annually as respects any Earthquake loss. E. $ 1,000,000. newly acquired property, per location, values in excess of $1,000,000. are to be reported to this Company in sixty(60)days. F. $ 5,000,000. builders risks, renovations, repairs made by the Insured at any location (including new locations)within the territorial limits of the policy, any one occurrence. G. $ 500,000. at any unscheduled location, any one occurrence. H. $ 50,000. personal property of others. I. $ 1,000,000. ordinance deficiency J. $ 1,000.000. extra expense IV. SERVICE ORGANIZATION This Insurance is issued to the Insured on the express condition that the Insured undertakes to utilize at all times the services of County Technical Services, Inc. Claims Management Department. This Service Organization shall perform the following duties: A. Discharge the Insured's obligation under the terms of this Agreement by administering a complete claims handling program. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE t OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 tI B. Maintain accurate records of all reported claims and details incident to loss and expense payments. C. Furnish monthly claims records on an approved form. The acceptance of these services shall be a condition precedent to any liability which may attach to the Underwriters in accordance with the terms and conditions of this Insurance. SECTION I -PROPERTY INSURANCE SECTION I - INSURING AGREEMENTS AGREEMENT A- BUILDING AND CONTENTS: Underwriters agree, subject to the limitations, terms and conditions of this Insurance, to indemnify the Insured for risks of direct physical loss or damage to All Real or Personal Property of every kind and description,wherever located, occurring during the period of this Insurance. AGREEMENT B -AUTOMOBILE: Underwriters agree, subject to the limitations, terms and conditions of this Insurance, to indemnify the Insured for loss or damage to Automobiles owned by the Insured or on which the Insured has an obligation to provide adequate insurance,wherever located, against Risks of Direct Physical Loss, including Collision of the Automobile with another object. SECTION I -DEFINITIONS 1. PROPERTY OF THE INSURED: The term "Insured's Property"shall mean All Real and Personal Property, including leasehold improvements or betterments which the Insured owns, property which the Insured holds on consignments or agrees to insure by any contractual agreement normal to its operations. 2. AUTOMOBILE: The term "Automobile" shall mean any motor vehicle, trailer or semi- trailer, including its equipment and any other equipment permanently attached thereto. The word "Trailer"shall include semi-trailer. 3. ULTIMATE NET LOSS: The words"Ultimate Net Loss" in respect of this section shall be understood to mean the loss sustained by the Insured after making deductions for all recoveries and salvages. 4. VALUABLE PAPERS: The term Valuable Papers shall mean: Written, printed or otherwise inscribed documents and records, including books, maps, films, drawings, abstracts, deeds, mortgages and manuscripts, but does not mean money and securities, but includes additional costs to research or restore damaged documents, drawings or records. 5. ACCOUNTS RECEIVABLE: The term "Accounts Receivable"shall mean: a) All sums due the Insured from customers provided the Insured is unable to effect collection thereof as the result of covered loss or damage to records of accounts receivable; b) Interest charges on any loan to offset impaired collections pending repayment of such sums made uncollectible by such loss or damage: NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2OF9 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 I2 c) Collection expense in excess of normal collection caused and made necessary because of such loss or damage; d) Other expenses when reasonably incurred by the Insured in re-establishing records of accounts receivable following such loss and/or damage. The following special exclusions apply to Accounts Receivable Coverage; this policy does not insure against: 1) Loss due to bookkeeping, accounting or billing errors or omissions; 2) Loss, the proof of which as to factual existence, is dependent upon an audit of records or an inventory computation, but this shall not preclude the use of such procedures in support of claim for loss which the Insured can prove, through evidence wholly apart therefrom, is due solely to a risk of loss to records of accounts receivable not otherwise excluded hereunder; 3. Loss due to alteration,falsification, manipulation, concealment, destruction or disposal of records of accounts receivable committed to conceal the wrongful giving, taking, obtaining or withholding of money, securities or other property but only to the extent of such wrongful giving, taking, obtaining or withholding. 6. OCCURRENCE: "Occurrence" means all covered loss, damage, or a sequence of losses or damage, casualties or disasters, arising from a single event or catastrophe. So far as loss involving in whole or in part, the perils of wind, (including hurricanes, tornadoes, cyclone), snow, rain, or hail is concerned a single event shall mean one single atmospheric disturbance during a continuous period of seventy-two (72) hours (not limited by the date on which coverage under this policy ceases). SECTION 1 -EXCLUSIONS WITH REGARD TO ALL PROPERTY, THIS INSURANCE DOES NOT INSURE AGAINST: 1. Loss by moth, vermin, termites or other insects; wear, tear or gradual deterioration; rust, wet or dry rot, or mold. 2. Loss or damage caused by: a) Radioactive or fissionable material. b) Contamination, other than by(a)above, unless directly resulting from Fire or Extended Coverage perils. 3. Loss resulting from loss of use, delay or loss of markets. 4. Breakdown of machinery and/or boiler explosion but not excluding loss resulting therefrom. This exclusion shall not apply as respects to EDP equipment and media. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 3OF9 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 13 5. Loss resulting from dampness of atmosphere or variation in temperature unless caused by the perils of Fire and Extended Coverage. This exclusion shall not be deemed to exclude loss resulting from freezing. 6. Loss of electrical appliances or devices of any kind, including wiring, arising from electrical injury or disturbance to the said electrical appliances or devices or wiring from artificial causes unless fire or explosion ensues, and then only for direct loss or damage caused by fire or explosion. WITH REGARD TO ALL PROPERTY,THIS INSURANCE DOES NOT INSURE AGAINST: Loss by normal settling, normal shrinkage or normal expansion in foundations, walls,floors or ceilings. 1. Loss by mechanical derangement, inherent vice or latent defect. 2. Loss resulting from processing or faulty workmanship, unless fire and/or explosion ensues, and then only for direct loss or damage caused by such ensuing fire or explosion. 3. Loss resulting from shrinkage, evaporation, loss of weight or leakage, unless such loss is caused directly by fire or the combating thereof, lightning,windstorm, hail explosion, strike, riot or civil commotion, aircraft, vehicles, breakage of pipes or apparatus, sprinkler leakage, vandalism and malicious mischief, theft or attempted theft. 4. Inventory shortage, mysterious disappearances or loss resulting from any kind of infidelity or dishonesty on the part of the Insured or any of his employees. PROPERTY EXCLUDED FROM COVERAGE HEREUNDER: Animals, aircraft, standing timber, growing crops, land, currency, money, notes, securities, aRt bridges, culverts, roadways, streets,walks, or paved surfaces, dams, docks, piers and wharves. SECTION I -CONDITIONS 1. VALUATION: The Underwriters shall not be liable for loss or damage in excess of: A. (Real and Personal Property-other than automobile)-the cost to repair, rebuild or replace the destroyed or damaged property in a condition equal to but not superior to or more extensive than its condition when new. If the Insured decides to replace destroyed or damaged property on another site, cost of such site is not included hereunder. It is a requirement that if the Insured does not repair, replace or rebuild the property within two years from the date of loss, this property shall be valued at ACV. B. (Automobile) -the actual cash value of the automobile at the time of loss. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 4OF9 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 ly 2. DEBRIS REMOVAL: This Insurance covers the expense of removal from the premises containing the property insured hereunder of debris remaining after any loss hereby insured against, except that there shall be no liability assumed for the expense of removal of any foundations. 3. REMOVAL CLAUSE: This Insurance covers the expense and damage occasioned by removal from the premises endangered by the perils insured against wherever such property is located or removed for preservation. 4. ARCHITECTS FEES: This Insurance covers the additional assessment involving architects'fees for consultations arising from losses resulting from an insured peril. Fees are limited to seven (7%) percent of replacement cost. 5. APPRAISAL: In the event the Insured and Underwriters are unable to agree as to the amount necessary to rebuild, repair or replace the damaged or destroyed property or the actual amount of reimbursement to be paid, each party shall name a competent and disinterested umpire. The appraisers together shall obtain reconstruction estimates, and calculated the amounts of reimbursement due, and failing to agree, shall submit their differences to the umpire. The award, in writing, duly verified by any two shall determine the point in question. Both parties shall pay the cost of their own appraisers and equally pro rate the cost of the umpire. 6. CIVIL AUTHORITY CLAUSE: Notwithstanding anything contained in this Insurance, property which is insured under this Insurance is also covered against the risk of damage or destruction by civil authority during a conflagration and for the purpose of retarding the same; provided that neither such conflagration nor such damage or destruction is j caused or contributed to by war, invasion, revolution, rebellion, insurrection or other hostilities or warlike operations. 7. ORDINANCE DEFICIENCY CLAUSE: Notwithstanding anything contained herein to the contrary, the Underwriters shall be liable also for the loss occasioned by the enforcement of any state or municipal law, ordinance or code,which necessitates, in repairing or rebuilding, replacement of material to meet such requirements. If demolition is required to comply with such enforcement, Underwriters shall also be liable for such additional costs. 8. EXPENSE TO REDUCE OR PREVENT LOSS: This Insurance also covers such expenses as are necessarily incurred for the purpose of reducing or preventing any loss under this Insurance not exceeding, however, the amount by which the loss under this Insurance is thereby reduced. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 5 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 i SECTION II -GENERAL CONDITIONS 1. PREMIUM PROVISION: See Declarations Page. 2. SALVAGE AND RECOVERY CLAUSE: All salvages, recoveries and payments recovered or received subsequent to a loss settlement under this Insurance shall be applied as if recovered or received prior to the said settlement and all necessary adjustments shall be made by the parties hereto. 3. INSPECTIONS, AUDIT AND VERIFICATION OF VALUES: The Underwriters or their duly authorized representatives shall be permitted at all reasonable times during continuance of this Insurance to inspect the premises used by the Insured and to examine the Insured's books or records so far as they relate to coverage afforded by this Insurance. 4. RECORDS: It is hereby understood and agreed that the records and books as kept by the Insured shall be acceptable to Underwriters in determining the amount of loss or damage covered hereunder. 5. DUE DILIGENCE CLAUSE: The Insured shall use due diligence and do and concur in doing all things reasonably practicable to avoid or diminish any loss of or damage to the property herein insured. 6. CANCELLATION: This Policy may be canceled by the Insured by mailing to the Company written notice stating when thereafter such cancellation shall be effective. This Policy may be canceled by the Company by mailing to the Insured at the address shown in this Policy or last known address written notice stating when no fewer than ninety days thereafter such cancellation shall be effective. The mailing of notice as aforesaid shall be sufficient proof of notice, and the effective date of cancellation stated in the notice shall become the end of the policy period. Delivery of such written notice either by the Insured or by the Company shall be equivalent to mailing. If this Insurance shall be cancelled by the Insured, the Underwriters shall retain the customary short rate proportion of the premium hereon, except that if this Insurance is on an adjustable basis the Underwriters shall receive the earned premium hereon or the customary short rate proportion of any minimum premium stipulated herein whichever is the greater. If this Insurance shall be cancelled by or on behalf of the Underwriters, the Underwriters shall retain the pro rata proportion of the premium hereon; except that if this Insurance is on an adjustable basis, the Underwriters shall receive the earned premium hereon or the pro rata proportion of any minimum premium stipulated herein whichever is the greater. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 6OF9 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 Rp Payment or tender of any unearned premium by the Underwriters shall not be a condition precedent to the effectiveness of Cancellation by such payment shall be made as soon as practicable. If the period of limitation relating to the giving of notice is prohibited or made void by any law controlling the construction thereof, such period shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law. Subject otherwise to all terms, clauses and conditions as heretofore. 7. CURRENCY: The premium and losses under this Insurance are payable in United States currency. Payment of premium shall be made to Marsh Inc. 8. BANKRUPTCY AND INSOLVENCY: In the event of the bankruptcy or insolvency of the Insured or any entity comprising the Insured, the Underwriters shall not be relieved of the payment of any claims hereunder because of such bankruptcy or insolvency. 9. OTHER INSURANCE: If the Insured has other Insurance against loss covered by this Insurance the Underwriters shall be liable, under the terms of this Insurance, only as excess of coverage provided by such other Insurance and no monies payable or collectable from such other insurance shall accrue in the aggregate loss fund of this Insurance. 10. MORTGAGE CLAUSE: The interest of any mortgagor on property covered hereunder is included as if a separate endorsement were attached hereto to the extent of the amount of mortgage as of the date of loss subject to the limits of liability set forth in this Insurance. 11. CLAIMS: The Insured shall immediately notify Underwriters through County Technical Services, Inc. Claims Management Department by registered mail, of any occurrence, the cost of which is likely to result in payment by Underwriters under this Insurance. Underwriters shall have the opportunity to be associated with the Insured in defense of any claims, suits, or proceedings relative to an occurrence wherein the opinion of the Underwriters, their liability under this Insurance is likely to be involved, in which case the Insured and Underwriters shall cooperate to the mutual advantage of both. 12. LOSS PAYMENTS: When it has been determined that Underwriters are liable under this Insurance, Underwriters shall thereafter promptly reimburse the Insured for all payment made in excess of the amounts stated in the Limits Agreement. All adjusted claims shall be paid or made good to the Insured within thirty days after their presentation to County Technical Services, Inc. Claims Management Department and acceptance by Underwriters of satisfactory proof of interest and loss. 13. APPEAL: NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 7 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 In the event the Insured and Underwriters are unable to agree to the advisability of appealing a judgment, a disinterested attorney, mutually agreeable to the Underwriters and the Insured, shall be retained and directed to render a written opinion as to his recommendation concerning such appeal. Such written recommendation shall be binding on both the Insured and Underwriters. Fees of such retained attorney shall be borne equally by both parties for the services of rendering his recommendation only. The Insured's portion of such fee shall not accrue in the aggregate loss fund. 14. LITIGATION PROCEEDINGS: No suit to recover on account of loss under this Insurance shall be brought until ninety days after the proof of loss shall have been furnished, nor at all unless commenced within twenty-seven months from the date upon which loss occurred, if such loss is within the knowledge of the Insured; if not,the twenty-seven months shall begin upon notice to the Insured to such loss or claim. 15. SUBROGATION: The Underwriters shall be subrogated to all rights which the Insured may have against any person or other entity in respect to any claim or payment made under this Insurance, and the Insured shall execute all papers required by the Underwriters and shall cooperate with the Underwriters to secure Underwriter's rights. In case any reimbursement obtained or recovery made by the Insured or the Underwriters on account of any loss covered by this Insurance, the net amount of such reimbursement or recovery, after deducting the actual cost of obtaining or making the same, shall be first applied in the following order: a) Amount of loss which exceeds the applicable limit of liability. b) To reduce the Underwriters' loss until the Underwriters are fully reimbursed. c) To reduce the Insured's loss because of the application of the aggregate loss fund. 16. WAIVER OF SUBROGATION: This Insurance shall not be invalidated if the Insured by written agreement has waived or shall waive its right of recovery from any party for loss or damage covered hereunder; provided, that any such waiver is made prior to the occurrence of said loss or damage. 17. CONFLICTING STATUTES: In the event that any provision of this Insurance is unenforceable by the Insured under the laws of any state or other jurisdiction wherein it is claimed that the Insured is liable for any injury covered hereby because of non-compliance with any statute thereof, then this policy shall be enforceable for the Insured with the same effect as if it complied with such statutes. 18. ASSIGNMENT: Assignment of interest under this Insurance shall not bind the Underwriters until the Underwriters'consent is endorsed hereon. 19. CHANGES: By acceptance of this Insurance,the Insured agrees that it embodies all agreements NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 8 OF 9 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 f) FORM 40502 b existing between the Insured and Underwriters or any of its agents relating to this Insurance. None of the provisions, conditions or other terms of this Insurance shall be waived or altered except by endorsement; nor shall notice to any agent or knowledge possessed by any agent or by any other person be held to effect a waiver or change in any part of this Insurance. 20. WAR CLAUSE: Coverage does not apply under this Insurance for loss or damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, any weapon of war employing atomic fission or radioactive force whether in time of peace or war, hostilities (whether declared or not), civil war, rebellion, revolution, insurrection, military or usurped power, confiscation or nationalization or requisition or destruction of or damage to property by or under the order of any government or public or local authority unless such acts of destruction by order of civil authority is at the time of and for the purpose of preventing spread of fire, or claims or liability arising directly or indirectly from nuclear fission, nuclear fusion or radioactive contamination. 21. FRAUDULENT CLAIMS: If the Insured shall make any claim knowing the same to be false or fraudulent, as regards amount or otherwise, this Insurance shall become void and all claim hereunder shall be forfeited. HEREON: 100% OF LIMITS AND PREMIUM DATED: ST. PAUL FIRE & MARINE INSURANCE CO. BY Authorized Representative NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 9OF9 OF 9 POLICY NO: GP063o1110 EFFECTIVE DATE: 01/01/2003 FORM 40502 l I YEAR 2000 OR OTHER COMPUTER-RELATED OR ELECTRONIC DATE OR YEAR PROBLEMS EXCLUSION ENDORSEMENT This endorsement changes your Insuring Agreement. How Coverage Is Changed The following is added to Section 1- Exclusions. If direct physical loss or damage from any of the following results, the Company will pay WITH REGARD TO ALL PROPERTY, THIS for that resulting loss or damage: INSURANCE DOES NOT INSURE AGAINST: (a) -fire; (b) explosion; Loss or damage caused directly or indirectly (c) smoke; by the following. Such loss or damage is (d) aircraft or vehicles; excluded regardless of any other cause or (e) riot or civil commotion; vandalism; event that contributes concurrently or in any (f) leakage from fire extinguishing sequence to the loss. equipment; (1) The failure, malfunction, or inadequacy (g) Sinkhole Collapse; of any Computer Component, (h) falling objects; Equipment, Program or System due to (i) weight of snow, ice, or sleet; the inability to correctly recognize, (j) Water Damage; process, distinguish, interpret or accept (k) freezing; one or more dates or times; or (I) theft; (2) The failure, malfunction, or inadequacy (m) burglary damage; or of any other products, or any services, (n) elevator collision. data or functions that directly or indirectly use or rely on such Computer SINKHOLE COLLAPSE means the sudden Component, Equipment, Program or sinking or collapse of land into underground System due to the inability to correctly empty spaces created by the action of water recognize, process, distinguish, interpret on limestone or dolomite. This peril does not or accept one or more dates or times; or include: (3) Any advice, consultation, design, (a) the cost of filling sinkholes; or evaluation, inspection, installation, (b) sinking or collapse of land into man-made maintenance, repair, replacement or underground cavities. supervision done or provided by or for you to determine, rectify, or test for the Falling objects does not include loss or inability to correctly recognize, process, damage to: distinguish, interpret or accept one or (a) personal property in the open; or more dates or times. (b) the interior of a building or structure, or property inside a building or structure, For example, the inability of computer unless the roof or an outside wall of the software to recognize the year 2000 and building or structure is first damaged by beyond. a falling object. Also, the Company will not pay for repair, WATER DAMAGE means accidental discharge replacement or modification of any Computer or leakage of water or steam as the direct Component, Equipment, Program or System result of the breaking apart or cracking of any to correct any of its deficiencies or change part of a system or appliance (other than a any of its features. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 2 POLICY NO: GP063o1110 EFFECTIVE DATE: 01/01/2003 FORM 40502 21 sump system including its related equipment (d) computer operating system and related and parts) containing water or steam. software; (e) microprocessor or computer chip that COMPUTER COMPONENT, EQUIPMENT, isn't part of a computer system, PROGRAM, OR SYSTEM MEANS any: including any (a) computer application software; (f) other computerized or electronic (b) computer hardware, including any component or equipment. microprocessor or computer chip that is part of a computer system; Other Terms (c) computer network; All other terms of the policy remain the same. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 2-2- • TheSIMIUl MOLD OR BACTERIA EXCLUSION ENDORSEMENT WITH LIMITED ADDITIONAL COVERAGE This endorsement changes your Property Protection insuring agreement. It applies to all locations unless otherwise specified in the Coverage Summary. How Coverage Is Changed 2. The following is added to Section 1 Exclusions. There are four changes which are explained below. These changes limit coverage. Mold or other fungi,wet or dry rot, or 1. The wear, tear, deterioration, bacteria. We won't cover loss caused animals exclusion is replaced by the directly or indirectly by mold or other following. fungi, wet or dry rot, or bacteria. But this Wear, tear, deterioration, animals. exclusion does not apply to the We won't cover loss caused by or resulting additional coverage for mold or other from: fungi,wet or dry rot, or bacteria. • wear and tear; This exclusion applies whether or not the • deterioration, rust, or any other corrosion; • shrinkage, evaporation, loss of weight; loss event results in widespread damage • changes in flavor, color, texture, or finish; or affects a substantial area. • nesting or infestation, or discharge or release or waste products or secretions, by Mold or other fungi means: insects, birds, rodents, or other animals; or • any type of form of mold or mildew; • the inherent nature of the property. • any other type or form of fungus; or Inherent nature means a latent defect or any • any mycotoxin, spore, scent or quality in the property that causes it to byproduct that's produced or deteriorate or destroy itself. released by such mold, mildew, or If a loss from fire, smoke, lightning, wind, other fungus. hail, explosion, vehicles aircraft, vandalism, malicious mischief, civil disturbance, riot, Bacteria means: leakage from fire extinguishing equipment, sinkhole collapse, volcanic action, building • any type or form of bacterium; or glass breakage, falling objects, weight of ice, • any mycotoxin, spore, scent or snow, or sleet or water damage results, we'll byproduct that's produced or pay for that resulting loss. released by such bacterium. Water damage means the accidental discharge or leakage of water or steam as the direct result of the breaking apart or cracking of any part of a system or appliance, other than a sump system, containing water or steam. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form @ St.Paul Fire and Marine Insurance Co. 1980 2-5 Thesmul 3. The following additional coverage is additional coverage applies, or added to your insuring agreement. regardless of the number or type of mold or other fungi, wet or dry rot, Mold Or Other Fungi,Wet Or Dry or bacteria that caused the loss or Rot, Or Bacteria damage. When this agreement and any other insuring agreement or We'll pay up to $25,000 per loss endorsement written by us apply to event for loss or damage caused by the same mold or other fungi, wet or or resulting from mold or other dry rot, or bacteria loss, $25,000 is fungi, wet or dry rot, or bacteria if the most we'll pay on a combined such mold or other fungi,wet or dry total basis for all such loss. This rot, or bacteria is caused by or results amount is not in addition to the from any of the following covered limits of coverage for any building, causes of loss: business personal property, flood, • fire; earthquake, or earth movement, or • lightning; time element coverage shown in the • explosion; Coverage Summary. • wind or hail; • smoke; Time element coverage includes any • vehicles and aircraft; of the following: • civil disturbance and riot; • blanket earnings and expense; • vandalism; • business income and extra • sprinkler leakage; expense; • extra expense; • sinkhole collapse; • business income from a • volcanic action; dependent properties; or • falling objects; • valued business income. • weight of snow, ice or sleet; or A higher additional limit may be • water damage. purchased. If so, the revised limit for If your policy includes coverage for mold or other fungi, wet or dry rot, or bacteria will be shown in the flood, earthquake, or earth Coverage Summary. movement it will also be considered a covered cause of loss for mold or We won't pay for the costs other fungi, wet or dry rot, or associated with the enforcement of bacteria. any ordinance, regulation, or law which requires you or anyone else to: This $25,000 is the most we'll pay • test for, monitor, clean up, regardless of the number or type of remove; coverages that may apply, the number of locations to which this 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 Page 2 of 3 The bul • contain, treat, detoxify, neutralize; or • in any way respond to, or assess the effects of mold or other fungi, wet or dry rot, or bacteria. 4. The Seepage or leakage exclusion is replaced by the following. Seepage or leakage. We won't cover loss caused by or resulting from water or steam that seeps or leaks, or the presence or condensation of humidity, moisture, or vapor, that occurs over a period of 14 days or more. Other Terms All other terms of your policy remain the same. 40502 Ed. 1-80 Customized Form © St.Paul Fire and Marine Insurance Co. 1980 Page 3 of 3 Z5 TMeStPaul EARTH MOVEMENT ENDORSEMENT Earth Movement Coverage Earth movement is added as a covered cause of loss. Earth Movement means: • any earth movement, other than sinkhole collapse, such as earthquake, landslide, mine subsidence or earth sinking, rising or shifting including that caused by subsidence, settling, contraction, or expansion of soils. • eruption, explosion, or effusion of a volcano other than volcanic action. `r# If more than one earth movement or volcanic eruption occurs within any 72 hour period, we'll consider this one occurrence. The 72 hour period will not be shortened by the expiration of the policy. The limit shown in the coverage summary for earthquake is the most this company will pay for all direct loss or damage caused by a single earthquake. Other Terms All other terms of your policy remain the same. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form © St.Paul Fire and Marine Insurance Co. 1980 �� mesimul FLOOD ENDORSEMENT Flood, mudslide or mudflow, and surface water are added as a covered peril. Flood means waves, tides or tidal water, the rising of bodies of water and streams, or the overflowing or breaking of their boundaries, whether driven by wind or not. Surface water means water which accumulates or flows on the surface of the ground, and is created by natural causes such as rain, melted snow, or rising springs, but which follows no defined watercourse and does not gather into or from a natural body of water. This company is not liable for more than the limits shown in the coverage summary. Other Terms All other terms of your policy remain the same. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GPO 6301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 Z6) TheSiFBud EARLIER NOTICE OF CANCELLATION BY US ENDORSEMENT This endorsement changes: -your General Rules; or -any state required endorsement that changes the Cancellation rule in your General Rules. How Coverage Is Changed The following is added to the Cancellation rule. This change increases the number of days required by the Cancellation rule before coverage will end under this policy if we cancel the policy for any reason, other than nonpayment of premium. This change also indicates who we will notify if we cancel the policy in addition to notifying the first named insured. If we cancel this policy for any reason, other than nonpayment of premium, we'll mail or deliver a cancellation notice to the first named insured, and to the following, at least 90 days before coverage will end. Commissioner of Insurance State of Colorado Division of Insurance 1560 Broadway, Suite 850 Denver, Colorado 80202 Other Terms All other terms of your policy remain the same. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GPO 6301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 3 ' TheSt bul TRANSIT EXTENSION INSURING CLAUSE In consideration of the premium paid and subject to the terms, limits and conditions of the policy to which this Extension is attached and to the following conditions and exclusions, this insurance is hereby extended to cover: Personal property of the Insured or property held by the Insured in trust or on commission or on consignment for which the Insured may be held legally liable while in due course of transit within the limits of the Continental United States of America (excluding Hawaii) and Canada, against All Risks of Direct Physical Loss or Damage to the property insured occurring during the period of this policy(including general average and salvage charges on shipments covered while waterborne). PERILS EXCLUDED This extension does not insure against: 1. Loss or damage to personal property resulting from: shrinkage, evaporation, loss of weight, leakage of glass or other fragile articles, marring, scratching, exposure to light, or change in color, texture or flavor, unless such loss is caused directly by fire or the combating thereof, lightning,windstorm, hail, explosion, strike, riot or civil commotion, aircraft, vehicles, breakage of pipes or apparatus, sprinkler leakage, vandalism and malicious mischief, theft or attempted theft. 2. Loss of use, delay or loss of markets. a 3. Loss or damage caused by or resulting from moth, vermin, termites, or other insects, inherent vice, latent defect,wear, tear or gradual deterioration;contamination; rust, wet or dry rot, mold, dampness of atmosphere, smog or extremes of temperature. 4. Loss or damage caused by or resulting from misappropriation, conversion, infidelity or any dishonest act on the part of the Insured or other party of interest, his or their employees or agents to others to whom the property may be delivered or entrusted (carriers for hire excepted). 5. Loss or damage to the property insured occasioned by war, invasion, hostilities, acts of foreign enemies, civil war, rebellion, insurrection, military or usurped power or martial law or confiscation by order of any government or public authority. 6. Loss or damage arising directly or indirectly from nuclear reaction, nuclear radiation or radioactive contamination however such nuclear reaction, nuclear radiation or radioactive contamination may have been caused. Nevertheless, if a fire arises directly or indirectly from nuclear reaction, nuclear radiation or radioactive contamination, any loss or damage arising directly from that fire shall (subject to the provisions of this Policy) be covered excluding, however, all loss or damage caused by nuclear reaction, nuclear radiation or radioactive contamination arising directly or indirectly from that fire. 7. Loss or damage caused by breakdown or derangement of refrigerating units. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1OF2 POLICY NO: GLP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 33 DEDUCTIBLE(S) Each loss or series of losses arising out of one event shall be adjusted separately and from the amount of each such adjusted loss the sum(s) stated shall be deducted. PROPERTY EXCLUDED This Extension does not cover: 1. a. Aircraft, watercraft, vehicles designed for highway use, animals,jewelry, precious stones and furs or garments trimmed with fur. b. Currency, money, notes, securities, deeds, and evidences of debt 2. Property in due course of ocean marine transit. 3. Shipments by mail after delivery into the custody of the Post Office Department. 4. Samples while in the care, custody or control of salesmen. CONDITIONS 1. The Insured may accept without prejudice to this insurance the ordinary bills of lading or receipts issued by carriers including those containing released and/or partially released value provisions, but the Insured shall not enter into any special agreement with carriers releasing them from their common law or statutory liability. 2. Property insured hereunder shall be valued as follows: A. Sold property at the actual net invoice price of the Insured. B. Unsold property at the actual cash value of the property at the time any loss or damage occurs with property deduction for depreciation and in no event to exceed what it would cost to repair or replace the property with material of like kind and quality. Subject otherwise to all terms, clauses and conditions as heretofore. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2OF2 OF 2 POLICY NO: GLP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 a;y ThepduI EXTRA EXPENSE 40/80/100% OF LIMIT It is agreed that if the property insured by Insuring Agreement A of Section I is damaged or destroyed by perils insured against in said Insuring Agreement A during the period of this Insurance so as to necessitate the incurrence of Extra Expense (as defined below)the Underwriters shall be liable for the Extra Expense so incurred, not exceeding the actual loss sustained, for not exceeding such length of time, hereinafter referred to as the"period of restoration". It is further agreed that this extension of coverage shall not operate to increase the Underwriters limits of liability hereunder. Underwriters shall be liable for no greater percentage of the amount of this Policy than is stated below for the determined period of restoration. 40% if period of restoration is not in excess of one month; 80% if period of restoration exceeds one month but does not exceed two months; 100% if period of restoration exceeds two months. DEFINITIONS a. Extra Expense: The term "Extra Expense"means the excess (if any) of the total cost incurred during the period of restoration 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 damage or destruction occurred. b. Normal: The term "Normal"wherever used herein shall mean; the condition that would have existed had no loss occurred. c. Month: The word "month"wherever used herein means 30 consecutive days. d. Period of Restoration: The term "period of restoration"means such length of time commencing with the date of damage and not limited by the date of expiration of this policy, as would be required with the exercise of due diligence and dispatch to repair, rebuild or replace such part of the Insured's property as has been damaged or destroyed. CONDITIONS a. Resumption of Operations: It is a condition of this Insurance that as soon as practicable, the Insured shall resume normal operations of the business and shall dispense with such extra expense. b. Interruption by Civil Authority: Liability hereunder is extended to include actual loss as covered hereunder, sustained during the period of time, not exceeding two weeks, when as a direct result of a peril insured against, access to the premises in which the property described is located is prohibited by order of civil authority. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 35 EXCLUSIONS In addition to the General Exclusions of this Insurance, Underwriters shall not be liable for Extra Expense resulting from: a. The suspension, lapse or cancellation of any lease, license, contract or order beyond the period of restoration; b. Interference at premises by strikers or other persons with rebuilding, repairing or replacing the property damaged or destroyed or with the resumption or continuation of business; c. Enforcement of any local or state ordinance or law regulating construction, repair or demolition of buildings or structures; Further, Underwriters shall not be liable for: a. more than the amount set forth in the limits of liability for each premises; b. loss of income; c. the cost of repairing or replacing any of the real or personal property covered hereunder, or the cost of research or other expense necessary to replace or restore damage or destroyed books of account, abstracts, drawings, card index systems or other records (including film,tape, disc, drum, cell or other magnetic recording or storage media for electronic data processing), that have been damaged or destroyed by the perils insured against, except cost in excess of the normal cost of such repair, replacement or restoration necessarily incurred for the purpose of reducing loss under this policy. In no event shall such excess cost exceed the amount by which the total extra expense loss otherwise payable under this policy is thereby reduced; d. loss resulting from theft of any property which at the time of loss is not an integral part of a building or structure (except direct loss by pillage and looting occurring during and at the immediate place of a riot or civil commotion), unless loss by a peril not excluded in this policy ensues from theft or attempted theft, and then the Underwriters shall be liable for only such ensuing loss; e. any other consequential or remote loss. Subject otherwise to all terms, clauses and conditions as heretofore. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 3LO The$tPbul POLLUTION EXCLUSION ENDORSEMENT In consideration of the premium charged, it is understood that the following exclusion is added to Section I, Exclusions: Pollution caused directly or indirectly by the release, discharge, dispersal, seepage, migration, or escape of pollutants or contaminants unless the release, discharge, dispersal, seepage, migration, or escape is caused by fire, lightning, explosion, windstorm, hail, leakage from fire protection equipment, smoke, vehicles and aircraft, riot, civil commotion, vandalism, sinkhole collapse, volcanic action, falling objects, weight of snow, ice or sleet, or water damage. However, this policy does not cover the costs arising out of the enforcement of any law, ordinance, regulation or order by civil or judicial authority requiring the removal, disposal, replacement, cleanup, restoration or containment of insured property or for costs to monitor or test for the existence or effects of pollutants. This exclusion applies regardless of any other cause or event that contributes concurrently or in any sequence to the loss. All other terms and conditions remain unchanged. taw. Subject otherwise to all terms, clauses and conditions as heretofore. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 3� Te$uPddd EXTENSION OF COVERAGE ENDORSEMENT Pollution Cleanup and Removal In consideration of the premium charge, the following extension of coverage is added. Notwithstanding any conditions or terms contained elsewhere in this policy, coverage is extended for a limit of$25,000 any one occurrence to cover the cost to clean up and remove pollutants that are: 1. in the land or water at an insured location provided the discharge, seepage, migration, release, escape or dispersal is due to fire, lightning, explosion,windstorm, hail, leakage from fire protection equipment, smoke, vehicles and aircraft, riot, civil commotion, vandalism, sinkhole collapse, volcanic action, falling objects, weight of snow, ice or sleet, or water damage. For example: a fire at an insured location causes chemicals to run onto the ground and into a nearby river. This policy will pay to clean up the pollution that is in the land and water at the insured premises up to the limit of liability of this extension. This policy will not pay to clean up land or water away from an insured premises; 2. in the land or water away from an insured premises but only when pollution or contamination is caused by the collision, upset or overturn of a transporting vehicle which is owned, operated, rented, leased or borrowed by the Insured. Coverage is provided under this extension only if the following conditions are met: -A, a. the cause of loss occurs during the policy period; b. the pollution must occur at an insured location except as provided for in clause 2. above. c. the clean-up and removal costs must be incurred and reported to the company within one hundred eighty(180)days of either the date of direct physical loss or damage or the end of the policy period, whichever is earlier. Liability for loss under this extension shall not exceed $25,000 in any one occurrence or$25,000 in the aggregate for all such losses in any one policy year. However, these limits will apply separately to each County member listed in the Named Insured Endorsement. All other terms and conditions remain unchanged. Subject otherwise to all terms, clauses and conditions as heretofore. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 �9 The&Paid OTHER TERMS AND CONDITIONS Unless physically deleted by the Company, the following clauses shall be paramount and shall supersede and nullify any contrary provision of the Policy. This Policy does not insure against direct loss or damage caused by or resulting from: (1) Hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual impending or expected attack, (a) by any government or sovereign power(de jure or de facto), or by any authority maintaining or using military, naval or air forces; or(b) by military, naval or air forces; or(c)by an agent of any such government, power, authority or forces; (2) Any weapon of war, employing atomic fission or radioactive force whether in time of peace or war; (3) Insurrection, rebellion, revolution, civil war, usurped power, or action taken by govern- mental authority in hindering, combating or defending against such an occurrence, seizure or destruction under quarantine or Customs regulations, confiscation by order of any government or public authority, or risks of contraband or illegal transportation or trade. It is agreed that if this Policy insures against the peril of Fire, Clause A below shall apply, but if this Policy does not insure against the peril of Fire, Clause B below shall apply, as follows: A. This Company shall not be liable for loss by nuclear reaction or nuclear radiation or radioactive contamination, all whether controlled or uncontrolled, and whether such loss be direct or indirect, proximate or remote, or be in whole or in part caused by, contributed to, or aggravated by the peril(s) insured against in this Policy; however, subject to the foregoing and all provisions of this Policy, direct loss by fire resulting from nuclear reaction or nuclear radiation or radioactive contamination is insured against by this Policy. B. This Company shall not be liable for loss by nuclear reaction or nuclear radiation or radioactive contamination, all whether controlled or uncontrolled, and whether such loss be direct or indirect, proximate or remote,or be in whole or in part caused by, contributed to, or aggravated by the peril(s) insured against in this Policy. THIS POLICY IS MADE AND ACCEPTED SUBJECT TO THE FOREGOING STIPULATIONS AND CONDITIONS, together with such other provisions, agreements or conditions as may be endorsed hereon or added hereto; and no officer, agent or other representative of this Company shall have power to waive or be deemed to have waived any provision or condition of this Policy unless such waiver, if any, shall be written upon or attached hereto, nor shall any privilege or permission affecting the insurance under this Policy exist or be claimed by the Insured unless so written or attached. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 4 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 CONDITIONS MISREPRESENTATION OR FRAUD. This Policy shall be void if the Insured has concealed or misrepresented any material fact or circumstances concerning this insurance or the subject thereof or in case of any fraud, attempted fraud or false swearing by the Insured touching any matter relating to this insurance or subject thereof, before or after a loss. NOTICE OF LOSS. The Insured shall as soon as practicable report to this Company or its agent every loss or damage which may become a claim under this Policy and shall also file with the Company or its agent within ninety(90) days from date of loss a detailed sworn proof of loss. Failure by the Insured to report the said loss or damage and to file such proof of loss as hereinbefore provided shall invalidate any claim under this Policy for such loss. EXAMINATION UNDER OATH. The Insured shall submit, and so far as in within his/her or their power shall cause all other persons interested in the property and members of the household and employees to submit, to examinations under oath by any persons named by the Company, relative to any and all matters in connection with a claim and subscribe the same: and shall produce for examination all books of account, bills, invoices, and other vouchers or certified copies thereof if originals be lost, at such reasonable time and place as may be designated by the Company or its representatives, and shall permit extracts and copies thereof to be made. SETTLEMENT OF LOSS. All adjusted claims shall be paid or made good to the Insured within sixty(60)days after presentation and acceptance of satisfactory proof of interest and loss at the office of this Company. No loss shall be paid hereunder if the Insured has collected the same from others. NO BENEFIT TO BAILEE. This insurance shall in no wise inure directly or indirectly to the benefit of any carrier or other bailee. SUBROGATION. In the event of any payment under this Policy, the Company shall be subrogated to all the Insured's rights of recovery therefor against any person or organization, and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. The Insured shall do nothing after loss to prejudice such rights. PAIR, SET OR PARTS. It is understood and agreed that, in the event of loss of or damage to any article or articles which are a part of a set, the measure of loss of or damage to such article or articles shall be a reasonable and fair proportion of the total value of the set, giving consideration to the importance of said article or articles; but in no event shall such loss or damage be construed to mean total loss of set. In case of loss or injury to any part of the insured property consisting,when complete for sale or use, of several parts, this Company shall only be liable for the insured value of the part lost or damaged. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 4 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 L12 SUE AND LABOR. In case of loss or damage, it shall be lawful and necessary for the Insured, his/her or their factors, servants and assigns, to sue, labor, and travel for, in and about the defense, safeguard and recovery of the property insured hereunder, or any part thereof without prejudice to this insurance; nor shall the acts of the Insured or this Company, in recovering, saving and preserving the property insured in case of loss or damage, be considered a waiver or an acceptance of abandonment; to the charge whereof this Company will contribute according to the rate and quantity of the sum herein insured. SUIT. No suit, action or proceeding for the recovery of any claim under this Policy shall be sustainable in any court of law or equity unless the same be commenced within twelve (12) months next after discovery by the Insured of the occurrence which gives rise to the claim. Provided, however, that if by the laws of the State within which this Policy is issued such limitation is invalid, then any such claims shall be void unless such action, suit or proceeding be commenced within the shortest limit of time permitted by the laws of such State to be fixed herein. APPRAISAL. If the Insured and the Company fail to agree as to the amount of loss, each shall, on the written demand of either, made within sixty days after receipt of proof of loss by the Company, select a competent and disinterested appraiser, and the appraisal shall be made at a reasonable time and place. The appraisers shall first select a competent and disinterested umpire, and failing for fifteen days to agree upon such umpire, then, on the request of the Insured or the Company, such umpire shall be selected by a judge of a court of record in the state in which such appraisal is pending. The appraisers shall then appraise the loss, stating separately the actual cash value at the time of loss and the amount of loss, and failing to agree shall submit their differences to the umpire. An award in writing of any two shall determine the amount of loss. The Insured and the Company shall each pay his/her or its chosen appraiser and shall bear equally the other expenses of the appraisal and umpire. The Company shall not be held to have waived any of its rights by any act relating to appraisal. CANCELLATION. This Policy may be canceled by the Insured by mailing to the Company written notice stating when thereafter such cancellation shall be effective. This Policy may be canceled by the Company by mailing to the Insured at the address shown in this Policy or last known address written notice stating when no fewer than ninety days thereafter such cancellation shall be effective. The mailing of notice as aforesaid shall be sufficient proof of notice, and the effective date of cancellation stated in the notice shall become the end of the policy period. Delivery of such written notice either by the Insured or by the Company shall be equivalent to mailing. If this Insurance shall be cancelled by the Insured, the Underwriters shall retain the customary short rate proportion of the premium hereon, except that if this Insurance is on an adjustable basis the Underwriters shall receive the earned premium hereon or the customary short rate proportion of any minimum premium stipulated herein whichever is the greater. If this Insurance shall be cancelled by or on behalf of the Underwriters, the Underwriters shall retain the pro rata proportion of the premium hereon; except that if this Insurance is on an adjustable basis, the Underwriters shall receive the earned premium hereon or the pro rata proportion of any minimum premium stipulated herein whichever is the greater. NAMEOFINSURED: Colorado Co. Casualty & Property Pool PAGE3OF4 POLICY NO: GPo63o1110 EFFECTIVE DATE: 01/01/2003 FORM 40502 43 Payment or tender of any unearned premium by the Underwriters shall not be a condition precedent to the effectiveness of Cancellation by such payment shall be made as soon as practicable. If the period of limitation relating to the giving of notice is prohibited or made void by any law controlling the construction thereof, such period shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law. Subject otherwise to all terms, clauses and conditions as heretofore. Provisions Required by Law to be Stated in this Policy:- "This Policy is issued under and in pursuance of the laws of the State of Minnesota, relating to Guaranty Surplus and Special Reserve Funds." Chapter 437, General Laws of 1909. In Witness Whereof, this Company has executed and attested these presents; but this Policy shall not be valid unless countersigned by a duly authorized Agent of the Company. Countersignature Date Countersigned At Authorized Representative NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 4 OF 4 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 /Jq StPauI EQUIPMENT BREAKDOWN SCHEDULE Limits Equipment Breakdown Limit Included in St. Paul $50,000,000 limit Extra Expense $1,000,000 Expediting Expenses $ 100,000 Hazardous Substances $ 100,000 Spoilage $ 100,000 Water Damage $ 100,000 Ammonia Contamination $ 100,000 Pollution Cleanup and Removal $ 100,000 Deductibles Extra Expense $ 5,000 Spoilage $ 5,000 All other loss or damage $ 5,000 NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 1 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form © St Paul Fire and Marine Insurance Co. 1980 y5 'memo' EQUIPMENT BREAKDOWN ENDORSEMENT c. Perishable goods: The term "perishable It is agreed that if the property insured by goods" means business personal property Insuring Agreement A of Section I is damaged or maintained under controlled conditions for destroyed by an"Accident"to"covered its preservation which is susceptible to equipment"during the period of this Insurance, loss or damage if controlled conditions the Underwriters shall be liable for said damage. change. DEFINITIONS ADDITIONAL COVERAGES a. Accident: The term "accident means direct The following additional coverages also apply to physical loss or damage that results from loss caused by or resulting from an "accident"to mechanical breakdown, including rupture "covered equipment". or bursting caused by centrifugal force; The limit for each additional coverage is shown artificially generated electrical current, in the Equipment Breakdown Schedule. including electrical arcing, that disturbs The limits for these additional coverages are not electrical devices, appliances or wires; in addition to the limits of coverage for building loss or damage to steam boilers, steam or business personal property shown in III pipes, steam engines or steam turbines Ultimate Net Loss. caused by or resulting from any condition In addition, the coverages and limits for newly or event inside such equipment; or loss or acquired property, builders risks, and damage to hot water boilers or other water unscheduled locations in the policy to which heating equipment caused by or resulting this endorsement is attached also apply to from any condition or event inside such coverage provided by this endorsement. boilers or equipment. Coverage provided for extra expense in the 7�^ policy to which this endorsement is attached also b. Covered equipment: The term "covered applies to coverage provided by this equipment"means property insured which endorsement. The extra expense limit is shown is built to operate under vacuum or in the Equipment Breakdown Schedule. pressure other than weight of contents; or generates, transmits or utilizes energy. a. Expediting Expenses-- If property None of the following is"covered insured is damaged or destroyed by an equipment": "accident", the Underwriters shall be liable A structure, foundation, cabinet, for reasonable extra cost to make compartment or air supported structure or temporary repairs and expedite permanent building; repairs or replacement. Insulating or refractory material; Vehicles, including self-propelled vehicles; b. Hazardous Substances—The Excavation or construction equipment; Underwriters shall be liable for additional Sewer piping, underground vessels or expenses incurred for cleanup; repair or piping, any piping forming a part of a replacement; or disposal of property sprinkler system; insured which is damaged, contaminated Water piping other than boiler feedwater or polluted by any substance other than piping, boiler condensate retum piping or ammonia that has been declared to be water piping forming a part of a hazardous to health by a governmental refrigerating or air conditioning system; agency. The Underwriters shall not be Equipment manufactured by you for sale; liable for more than the limit for Hazardous or Substances shown in the Equipment Equipment primarily used to generate Breakdown Schedule. electric power, however this does not apply to emergency generators. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1OF2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 TMeStPaul c. Spoilage—The Underwriters shall be liable for loss of"perishable goods"due to Spoilage, and shall also be liable for any SUSPENSION necessary expenses incurred to reduce the amount of loss under this coverage to When any"covered equipment" is found to be in, the extent that they do not exceed the or exposed to, a dangerous condition, any amount of loss that otherwise would have representative of the Underwriters may been payable under this coverage. If the immediately suspend the insurance against loss Insured is unable to replace the from an "accident"to that"covered equipment". "perishable goods"before its anticipated This can be done by mailing or delivering a sale, the amount of payment will be written notice of suspension to the address as determined on the basis of the sales price shown in the policy, or the address where the of the"perishable goods" at the time of the equipment is located. Once suspended in this "accident,"less discounts and expenses way, the insurance can be reinstated only by that otherwise would have been incurred. written notice from the Underwriters. If so Otherwise payment will be determined in suspended, the Insured shall receive pro-rata accordance with the Valuation condition. refund of premium. But the suspension will be The Underwriters shall not be liable for effective even if a refund has not yet made or more than the limit for Spoilage shown in offered. the Equipment Breakdown Schedule. d. Water Damage—If property insured is damaged by water as a result of an "accident"to covered refrigerating or air conditioning vessels and piping, the most the Underwriters shall not be liable for more than the amount shown in the 'RINZ Equipment Breakdown Schedule for this kind of damage, including salvage expense. e. Ammonia Contamination—If property insured is contaminated by ammonia as a result of an"accident"to"covered equipment"the Underwriters shall not be liable for more than the amount shown in the Equipment Breakdown Schedule for this kind of damage, including salvage expense. EXCLUSIONS a. Electronic recordings—The Underwriters shall not be liable for loss to electronic recordings caused by electrical or magnetic injury, disturbance or erasing. b. Media—The Underwriters shall not be liable for loss resulting from any defect, virus, loss of data, or other situation within electronic media and records. But if loss or damage from an "accident" results, there shall be liability for that resulting loss. (�Pl 40502 Ed. 1-80 Customized Form TMeStmmuI BUILDERS RISK EQUIPMENT BREAKDOWN COVERAGE This endorsement changes your Equipment Breakdown endorsement. How Coverge Is Changed This endorsement adds Builders Risk Equipment Breakdown Coverage to your Equipment Breakdown endorsement. This change broadens coverage. Builders Risk Equipment Breakdown Coverage As respects coverage under this endorsement, the following limit and deductible shall apply. Builders Risk Equipment Breakdown Limit: $5,000,000 Builders Risk Equipment Breakdown Deductible Combined, All Equipment Breakdown Coverage: $ 5,000 Equipment Breakdown 1. We' ll pay for loss caused by or resulting from an "Accident" to "covered equipment". As used in this endorsement, an "Accident" means direct physical loss as follows: a. loss to covered property caused or made worse by mechanical breakdown; b. loss to electrical equipment, including wiring, caused by electricity other than lightning; or c. explosion, rupture or bursting of steam boilers, steam pipes, steam turbines or steam engines. If an initial "Accident" causes other "Accidents" all will be considered one "Accident". All "Accidents" that are the result of the same event will be considered one "Accident". "Covered equipment" means covered property built to operate under vacuum or pressure, other than weight of contents, or used for the generation, transmission or utilization of energy. 2. The following additional coverages also apply to loss caused by or resulting from an "Accident" to "covered equipment": a. Expediting Expenses With respect to your damaged covered property, we' ll pay, up to $25,000, the reasonable extra cost to: (i) make temporary repairs; and (ii) expedite permanent repairs or replacement. b. Pollution clean up and removal We will pay up to $25,000, unless otherwise shown on the coverage summary, for additional expenses you incur for: (i) clean up; (ii) repairs or replacement; or (iii) disposal; Name of Insured Policy Number GP06301110 Effective Date 01/01/03 COLORADO CO. CASUALTY & PROPERTY POOL Processing Date 05/21/03 13:49 003 40502 Ed.1-80 Printed in U.S.A. Customized Form ®St.Paul Fire and Marine Insurance Co.1980 All Rights Reserved Page 1 l TMBStftul of covered property which is damaged, contaminated or polluted as a result of an accident by pollutants as defined in the Property Protection. This limitation also applies to damage, contamination or pollution caused by ammonia that is used as a refrigerant. c. CFC Refrigerants We will pay for the additional cost to repair or replace covered property because of the use or presence of a refrigerant containing CFC (chlorinated fluorocarbon) substances. This means the additional expense to do the least expensive of the following: (i) Repair the damaged property and replace any lost CFC refrigerant; (ii) Repair the damaged property, retrofit the system to accept a non- CFC refrigerant and charge the system with one using a non-CFC refrigerant. (iii) Replace the system with one using a non-CFC refrigerant. Additional costs mean those beyond what would have been required had no CFC refrigerant been involved. d. Soft Costs, Rents and Loss of Income We will pay for your soft costs, loss of rental income and loss of business income. This coverage applies only if the Delayed Completion Coverage Endorsement or the Delayed Completion -- Loss of Income Coverage Endorsement is part of this policy. All terms and conditions of those endorsements apply to this additional coverage. Additional Conditions Suspension When any "covered equipment" is found to be in, or exposed to a dangerous condition, any of our representatives may immediately suspend your coverage r� against loss from an "Accident" to that equipment. We can do this by mailing or delivering a wrtitten notice of suspension to your address as shown in the Coverage Summary, or at the address where the equipment is located. Once suspended in this way, your coverage can be reinstated only by written notice from us. If we suspend your coverage, you will get a pro rata refund of premium. But the suspension will be effective even if we have not yet made or offered a refund. Exclusions - Losses We Won't Cover 1. All exclusions and limitations apply except Electrical equipment and Mechanical breakdown. 2. We won' t pay under this endorsement for loss or damage caused by or resulting from: a. the breakdown of any structure, foundation, cabinet, compartment or air supported structure or building b. the breakdown of any insulating or refractory material; Page 2 sSt.Paul Fire and Marine Insurance Co.1980 All Rights Reserved StlBul Builders Risk Equipment Breakdown Coverage r-� c. the breakdown of any sewer piping, any underground vessels or piping, any piping forming a part of a sprinkler system or water piping other than boiler feedwater piping, boiler condensate return piping or water piping forming a part of a refrigerating or air conditioning system; d. the explosion of gases or fuel within the furnace of any fired vessel or within the flues or passages through which the cases of combustion pass; e. an "Accident" to any equipment not located at the location shown in the Coverage Summary; or f. loss caused by delay, loss of market, loss of use, or any indirect loss. This exclusion doesn't apply to coverage provided under the additional coverage for Soft Costs, Rents and Loss of Income. Name of Insured Policy Number GP06301110 Effective Date 01/01/03 COLORADO CO. CASUALTY & PROPERTY POOL Processing Date 05/20/03 09:56 002 40502. Printed in U.S.A. Endorsement eSt.PauI Fire and Marine Insurance Co.1980 Page 3 it ' StIBul Page 4 ©St.Paul Fire and Marine Insurance Co.1980 16e �uI CRIME PROTECTION SELF-INSURED RETENTION ENDORSEMENT This endorsement changes the following protection agreements and endorsements: Blanket Employee Dishonesty Protection Important note: This endorsement Robbery And Safe Burglary Protection adds a self-insured retention that is Forgery Or Alteration Protection included in the limits of coverage. Money And Securities Protection How Coverage Is Changed There are two changes which are explained below. 1. The following replaces the Deductible section in each of the agreements shown above. This change limits coverage. Self-Insured Retention The self-insured retentions shown below and the information contained in this section fix the amount of loss or loss adjustment expenses for which you'll be responsible. Blanket Employee Dishonesty Self-Insured Retention: $ 150,000. Robbery And Safe Burglary Self-Insured Retention: $ 150,000 Forgery or Alteration Self-Insured Retention: $ 150,000. Money And Securities Self-Insured Retention: $ 150,000. You'll be responsible for these amounts for the combined total of all losses or loss adjustment expenses that results from any one covered event. Loss adjustment expenses means the reasonable fees, costs and expenses that: .are incurred by you; and •result directly from the adjustment of a covered loss. Loss adjustment expenses includes reasonable and necessary expenses incurred to reduce the loss or protect covered property from further damage. But we won't consider any of the following to be loss adjustment expenses: NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 '3 •Fees, costs, or expenses for appraisals. .Expenses and salaries or wages of you or any of your employees or staff, including any attorneys employed or hired by you. •Fees and expenses of independent adjusters hired by you. .Expenses for claim handling services provided by others under a written contract or agreement with you. •Fees, costs, or expenses incurred by you as the result of appeals, arbitration or alternative dispute resolution proceedings. 2. The following is added to the Limits of Coverage section in each of the agreements shown above. This change limits coverage. The limits of coverage include amounts for loss and loss adjustment expense paid under the self-insured retention. Other Terms All other terms of your policy remain the same. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 40502 Ed. 1-80 Customized Form ©St.Paul Fire and Marine Insurance Co. 1980 51-k ihesubud r GOVERNMENT CRIME PROTECTION COVERAGE SUMMARY This Coverage Summary shows the coverages and limits of coverage that apply to your Crime Protection. Coverages, Limits Of Coverage, And Deductibles Coverage applies only to those coverages indicated by (X) and when a limit of coverage is shown. X 1 .Employee Theft - Per Loss Coverage Limit Of Coverage Per Occurrence: $150,000 Deductible Amount Per Occurrence: S** 2.Employee Theft - Per Employee Coverage Limit Of Coverage Per Occurrence $ Deductible Amount Per Occurrence $ X 3.Forgery Or Alteration Limit Of Coverage Per Occurrence: $150,000 Deductible Amount Per Occurrence: S** X 4.Inside The Premises - Theft Of Money And Securities Limit Of Coverage Per Occurrence: $150,000 Deductible Amount Per Occurrence: $** NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 6`D X 5.Inside The Premises - Robbery Or Safe Burglary Of Other Property —. Limit Of Coverage Per Occurrence: $150,000 Deductible Amount Per Occurrence: $** X 6.Outside The Premises Limit Of Coverage Per Occurrence: $1 50,000 Deductible Amount Per Occurrence: $** 7.Computer Fraud Limit Of Coverage Per Occurrence $ Deductible Amount Per Occurrence $ 8.Money Orders And Counterfeit Paper Currency Limit Of Coverage Per Occurrence $ Deductible Amount Per Occurrence $ Employee Benefit Plan(s) included as named insureds: Named Endorsement Table Important Note: Only endorsements that must have certain information shown for them to apply are named in this table. The required information follows the name of each such endorsement. Other endorsements may apply. If so, they're listed on the Policy Forms List. **Crime Protection Self-Insured Retention Endorsement: Blanket Employee Dishonesty Protection Retention- $150,000 Forgery& Alteration Protection Retention - $150,000 Money& Securities Protection Retention- $150,000 Robbery& Safe Burglary Protection Retention- $150,000 NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 2 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 6449 ThestpduI GOVERNMENT CRIME PROTECTION -DISCOVERY FORM We've designed this agreement to protect against a variety of losses. Of course there are some limitations which are explained later in this agreement. Table of Contents Page What This Agreement Covers 2 1. Employee Theft - Per Loss Coverage 2 2. Employee Theft - Per Employee Coverage 2 3. Forgery Or Alteration Coverage 3 Legal expenses. 3 4. Money And Securities Coverage 3 Loss inside your building. 3 Money and securities containers. 4 5. Robbery And Safe Burglary Coverage 4 Loss inside your building. 4 6. Loss Outside Your Building Coverage 4 7. Computer Fraud Coverage 4 8. Money Orders And Counterfeit Currency Coverage 5 Who We'll Pay 5 When This Agreement Covers 5 Where We Cover 5 Limits Of Coverage 6 Exclusions - Losses We Won't Cover 6 Dishonesty. 6 Governmental action. 6 Indirect loss. 6 Legal expenses. 6 Nuclear. 6 War and similar action. 7 Additional Exclusions For Coverage's 4, 5, 6 and 7 Accounting errors. 7 Exchange. 7 Fire. 7 Money operated machines. 7 Motor vehicles or equipment and accessories. 7 Transfer or surrender of property. 7 Vandalism. 7 Voluntary parting. 7 Additional Exclusions For Employee Theft - Per Loss Coverage And Employee Theft- Per Employee Coverage 7 NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 1 OF 15 POLICY NO: GP063o1110 EFFECTIVE DATE: 01/01/2003 FORM 40502 (-5q- Bonded Employees 7 Employee canceled under prior insurance 8 Trading 8 Treasurers or tax collectors 8 Additional Exclusion For Coverage's 1 ,2, 7 and 8 Inventory shortages 8 Rules For Loss Adjustment 8 Money 8 Securities 8 Damage to your building 8 Other property 9 Deductible 9 Other Rules 9 Employee benefit plans 9 Payment 9 Combined fund 9 Insurance for your benefit 1 0 Cancellation 7 Joint insured 8 Records 10 Recovering damages 10 Other insurance 10 Other Rules For Employee Theft - 1 1 Per Loss Coverage And Employee Theft Per Employee Coverage Other Rules For Forgery or Alteration Coverage 1 1 Facsimile signatures 1 1 Records 1 1 Other Rules for Robbery and Safe Burglary Coverage 11 Transporting property by armored car 11 Property with limited coverage 1 1 Other Rules For Computer Fraud Coverage 11 Property with limited coverage 11 NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 2 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 58 What This Agreement Covers There are eight coverage's available in this agreement. The coverages, the limits of coverage, and other applicable terms and conditions that apply for the coverages you have selected are shown in the Coverage Summary. 1 . Employee Theft - Per Loss Coverage We'll pay for loss or damage to money, securities or other property resulting directly from theft by one or more of your employees. This can be money, securities or other property you own or that you're holding, whether or not you're liable for its loss. 2. Employee Theft - Per Employee Coverage We'll pay for loss or damage to money, securities, or other property resulting from theft committed by each employee. This can be money, securities or other property you own or that you're holding, whether or not you're liable for its loss. This protection applies only when there is evidence that the employee meant to cause you a loss. The evidence must also show that the employee intended that he or she or another person or organization would get some unearned financial benefit. Financial benefit doesn't include salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other employee benefits earned in the normal course of employment. Money means: currency, coins and bank notes in current use and having a face value; and travelers checks, registered checks and money orders held for sale to the public. Securities mean negotiable and nonnegotiable instruments or contracts representing either money or other property and includes: Tokens, tickets, revenue and other stamps in current use, whether represented by actual stamps or unused value in a meter; and Evidences of debt issued in connection with credit or charge cards not issued by you. Securities does not include money. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 3 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 59 Other property means any tangible property of value other than money and securities. Employee means any individual: in your service and for 30 days after termination of service; whom you compensate directly by salary, wages or commissions; whom you have the right to direct and control while performing services for you; or employed by an employment contractor while that person is subject to your direction and control and performing services for you. But this won't include any such person while having care and custody of property outside the premises. We won't consider any of the following to be an employee: Agent, broker, factor, commissioner merchant, consignee, independent contractor or representative of the same general character; or Director or trustee, except while performing acts or duties within the scope of the usual duties of an employee. 3. Forgery Or Alteration Coverage We'll pay for loss resulting directly from forgery or alteration of a check, draft, promissory note, bill of exchange or similar promise of payment that are: made or drawn by you; drawn upon you; made or drawn by someone acting as your agent; or claimed to have been so made or drawn. Legal expenses. You may refuse to pay a check, draft, or similar order for payment because it may have been forged or altered. If this happens and someone sues you for payment, we'll pay for any reasonable legal expenses if we've given our written consent to the defense of the suit. The amount we'll pay for such legal expenses will be in addition to the limit of coverage that applies. 4. Money And Securities Coverage Loss inside your building. We'll pay for loss of money and securities inside your building or inside a bank that results directly from a covered cause of loss. Your building means that portion of any building you occupy in conducting your business. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 4 OF 15 POLICY NO: GP06301110 EBFECTIVE DATE: 01/01/2003 FORM 40502 ' ao Bank means the interior of that portion of any building occupied by a banking institution or similar safe depository. Covered causes of loss are: theft; disappearance; and destruction. Theft means any act of stealing. Money and securities containers. We'll pay for loss of and damage to a locked safe, vault, cash register, cash box or cash drawer inside your building that results directly from actual or attempted theft of or unlawful entry into such containers. 5. Robbery And Safe Burglary Coverage Loss inside your building. We'll pay for loss of or damage to property while in your care and custody or in the care and custody of any of your partners or employees: while inside your building; and that results directly from actual or attempted robbery. We'll also pay for loss of or damage to property inside your building in a safe or vault that results directly from actual or attempted safe burglary. But we won't cover property in the care and custody of any person acting as a security guard or janitor. Robbery means the taking of property from the care and custody of an individual by one who has: caused or threatened to cause that individual bodily harm; or committed an obviously unlawful act witnessed by that individual. Security guard means any person you employ to have care and custody of property inside your building and who has no other duties. Safe burglary means the unlawful taking of: property from within a locked safe or vault by a person unlawfully entering the safe or vault as evidenced by marks of forcible entry; or a safe or vault from inside the building. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 5 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 (V/ 6. Loss Outside Your Building Coverage We'll pay for loss of money and securities outside your building: while in the care and custody of a messenger or an armored motor vehicle company; and that results directly from a covered cause of loss. Messenger means you, any of your partners or any employee. It does not include courier services. 7. Computer Fraud Coverage We'll pay for loss of or damage to money, securities and other property that: you own, hold or are legally responsible for; and results directly from computer fraud. Computer fraud means using a computer to fraudulently transfer money, securities or other property from inside your building or a bank to: a person, other than a messenger, outside your building or a bank; or a place outside your building or a bank. 8. Money Orders And Counterfeit Currency Coverage We'll cover your loss or damage as a result of your acceptance of a post office or express money order in good faith in exchange for merchandise, money or services. You're also covered if you accept counterfeit U.S. or Canadian paper —F currency in good faith during a normal business transaction. Who We'll Pay More than one party may be jointly insured under this agreement. If so, the first party named on the Introduction page of this policy will act for all other insured parties. Any payment that we make to that first named party for a loss releases us from any obligation we have for that loss. If the first party is no longer covered by this agreement, the second party named on the Introduction page will take the first party's place. If you agree, we can settle any claim for loss of property with the owner. Any property we pay for will become ours. When This Agreement Covers We'll pay for covered losses you sustain from events occurring at any time and discovered by you while this agreement is in effect. Discovery of loss occurs when you first become aware of facts that would cause NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 6 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 (p2 a reasonable person to assume that a covered event has been or will be incurred, even though the exact amount or details of the loss may not yet be known. Discovery also occurs when you receive notice from another party of an actual or potential covered event, alleging facts that if true would constitute a covered loss under this insuring agreement. You will have up to 60 days after this agreement ends to discover the loss. If the loss involves any employee benefit plan, you will have up to one year after this agreement ends to discover the loss. But both of these extensions are subject to the following conditions: The claim must be based on a loss that occurred before this agreement ends; The claim must be reported to us during this discovery period; and this extended period to discover loss terminates immediately on the effective date of any replacement insurance whether or not such other insurance provides coverage for loss sustained prior to its effective date. Where We Cover We'll cover acts committed or events that happen in the United States of America, its territories and possessions, Puerto Rico or Canada. If you have selected Employee Theft Coverage, you're also covered for acts committed while employees are elsewhere for a period of not more than 90 days. a1 For example, a three week business trip to Europe. If you have selected Forgery Or Alteration Coverage or Computer Fraud Coverage, we'll cover loss for these coverages that happens anywhere in the world. Event means an act or series of related acts which may involve one or more persons. Limits Of Coverage The limits of coverage shown in the Coverage Summary are the most we'll pay for loss in any one event. These limits of coverage apply regardless of how many protected persons, property owners, covered items or financial interest are involved. Protected persons are people and organizations protected under this agreement. The limits of coverage can't be accumulated from year to year, no matter how long this agreement is in effect or how many premiums you pay. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 7 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 (a3 Exclusions - Losses We Won't Cover The following exclusions apply for all of the coverages you have selected. Dishonesty. We won't cover loss resulting from any dishonest or criminal act committed by you, any of your officials, employees, or authorized representatives: acting alone or with other persons; or while performing services for you or otherwise. However, this exclusion doesn't apply to employee theft coverage. Governmental action. We won't cover loss that results from the seizure or destruction of property by order of governmental authority. Indirect loss. We won't cover loss that is an indirect result of any act or event covered by this agreement, including, but not limited to loss resulting from: Your inability to realize income that you would have realized if there had been no loss of, or loss from damage to covered property; Payment of damages of any type for which you are legally liable. But this exclusion won't apply to compensatory damages arising directly from a loss covered under this agreement; or Payment of costs, fees or other expenses you incur in establishing either the existence or the amount of loss under this agreement. Legal expenses. We won't cover expenses related to any legal action. However, this exclusion doesn't apply to forgery or alteration coverage. Nuclear. We won't cover loss that results from nuclear reaction, nuclear radiation or radioactive contamination, or any related act or incident. War and similar action. We won't cover loss that results from war, whether or not declared, warlike action, insurrection, rebellion or revolution, or any related act or incident. Additional Exclusions For Coverages 4, 5, and 6 The following exclusions also apply to: Money And Securities Coverage; Robbery And Safe Burglary Coverage; and Loss Outside Your Building Coverage. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 8 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 V-I Accounting errors. We won't cover any loss resulting from accounting and mathematical errors or omissions. Exchange. We won't cover loss that results from giving money or securities in any exchange or purchase. Fire. We won't cover loss that results from fire. But this exclusion won't apply to: loss from damage to a safe or vault; or loss of money and securities caused directly by fire. Money operated machines. We won't cover any loss of money in a money operated device inside your building unless the amount deposited is continuously recorded by an instrument in the machine. Motor vehicles or equipment and accessories. We won't cover loss or damage to motor vehicles, trailers, semi-trailers or equipment and accessories attached to them. Transfer or surrender of property. We won't cover loss of property after it has been transferred or surrendered to a person or place outside your building: on the basis of unauthorized instructions; or as a result of a threat to do bodily harm to any person or damage to any property. r But this exclusion won't apply to loss while outside your building in the care and custody of a messenger if you: had no knowledge of any threat at the time the conveyance began; or had knowledge of a threat at the time the conveyance began, but the loss was not related to the threat. Vandalism. We won't cover loss from damage to your building, its exterior o to containers of covered property by vandalism or malicious mischief. Voluntary parting. We won't cover loss when you or anyone acting on your behalf is induced by a dishonest act to give up title or possession of covered property. For example: Someone impersonating a messenger tricks you to entrust him with your daily deposits. The deposits are never made. We won't cover this loss. Additional Exclusions For Employee Theft - Per Loss Coverage And Employee Theft - Per Employee Coverage NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 9 O 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 i The following exclusions also apply to Employee Theft - Per Loss Coverage And employee Theft - Per Employee Coverage. Bonded employees. We won't cover loss caused by any employee required by law to be individually bonded. Employee canceled under prior insurance. We won't cover loss caused by any employee for whom similar prior insurance has been canceled and not reinstated since the last such cancellation. Trading. We won't cover loss that results directly or indirectly from trading, whether in your name or in a genuine or fictitious account. Treasurers or tax collectors. We won't cover any loss caused by any treasurer or tax collector by whatever name known. Additional Exclusion For Coverages 1 , 2, And 7 The following exclusion also applies to: -Employee Theft - Per Loss Coverage; -Employee Theft - Per Employee Coverage; and -Computer Fraud Coverage. Inventory shortages. We won't cover loss or that part of any loss for which proof of existence or amount is dependent on: an inventory computation; or a profit and loss computation. For example: You suspect an employee of stealing your merchandise but do not have proof. After completing an inventory of your store you discover an inventory shortage of $10,000. However, inventory shortages can happen for reasons other than employee's theft such as shoplifting, mismarking, or poor recordkeeping. Because of this we won't cover the loss when the proof of loss is based on inventory or profit and loss computation. However, if the employee admitted to stealing $5,000 worth of merchandise, we'll pay that amount less the deductible. Rules For Loss Adjustment Money. Money losses will be determined by its face value. NAME OF INSURED: Colorado Co. Casualty E. Property Pool PAGE 10 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 We may choose to pay for loss in the money of the country in which the loss occurred at face value in the money issued by that country. Securities. Securities loss will be determined by their value at the close of business on the day the loss was discovered. We may, at our option: Pay the value of such securities or replace them in kind, in which event you must assign to us all your rights, title and interest in and to securities; or Pay the cost of any lost securities bond required in connection with issuing duplicates of the securities. But we'll only pay the cost of a bond with an amount of coverage that doesn't exceed the value of the securities at the close of business on the day the loss was discovered; or the limit of coverage under this agreement, whichever is less. But we won't pay more than the limit of coverage. Damage to your building. We'll pay for loss from damage to your building or a locked safe or vault inside your building that results directly from: robbery; safe burglary; or actual or attempted theft of money and securities. But this only applies if you are the owner of the building or property or are responsible for damage to it. Other property. For loss of or damage to other property or damage to your building, we'll pay the cost of repairing or replacing the damaged property without deduction for depreciation. But we won't pay more than the smallest of the following: the amount you actually spend repairing the damage; the amount it would cost to replace the damaged property at the time of the loss with that of a similar kind and quality; or the limit of coverage that applies to the property. We will not pay on a replacement cost basis for any loss or damage: until the lost or damaged property is actually repaired or replaced; and unless the repairs or replacement are made as soon as reasonably possible after the loss. If the lost or damaged property is not repaired or replaced, we will pay on an actual cash value basis. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 11 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 Deductible The deductible is shown in the Coverage Summary. You'll be responsible, up to the deductible, for covered loss in any one event. We'll then pay covered claims over the deductible, up to the limits of coverage that applies. If more than one deductible applies to a loss, the highest deductible amount will be applied. If you have selected Forgery Or Alteration Coverage, the deductible doesn't apply to legal expenses. Other Rules Employee benefit plans. We'll cover your employee benefit plans against loss of or damage to money, securities, and other property resulting directly from employee theft. Employee benefit plans means any welfare or pension benefit plan shown in the Coverage Summary that is subject to the Employee Retirement Income Security Act of 1974 (ERISA). We'll consider any individual who is: a trustee, officer, employee, administrator, or manager of any employee welfare or pension benefit plan covered under this agreement; and your director or trustee while that person is handling funds or other property of any plan covered under this agreement; to be an employee. But we won't consider an administrator or manager of any welfare or pension plan covered under this agreement that is an independent contractor to be an employee. Payment. Any payment we make to the insured first named in the Introduction for covered loss by any plan will be held by you for the use and benefit of the plan to which the loss occurred. Combined fund. No deductible applies to a loss that happens to any plan subject to ERISA covered under this agreement. Insurance for your benefit. This insurance is for your benefit only. It provides no rights or benefits to any other person or organization and is limited to: property that you own or hold; or property for which you are legally responsible. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 12 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 1#45 Cancellation. The following is added to the Cancellation section of the General Rules. Employees. Coverage on any employee under this agreement is cancelled as soon as you or any partner or officer in your business who is not working with the employee in committing the fraudulent or dishonest act, learns that the employee has committed such an act. Coverage on the employee will end immediately even if the act was committed before he or she was employed by you. We can also end coverage on any employee for any other reason by mailing or delivering notice to you at least 30 days before the cancellation. Mailing of this notice to the address shown on the Introduction page will be proof you were notified of the cancellation, which will become effective at 12:01 a.m., standard time, on the date give in our notice. Joint insured. If any Insured, partner, member, officer or official of that Insured has knowledge of any information relevant to this insurance, that knowledge is considered knowledge to every Insured. In addition, an employee of any Insured is considered to be an employee of every Insured. If this insurance or any of its coverages is canceled or terminated as to any Insured, loss sustained by that Insured is covered only if discovered by you during the period of time provided in the When This Agreement Covers section. However, this extended period to discover loss terminates as to that Insured immediately upon the effective date of any other insurance obtained by that Insured replacing in whole or in part the insurance afforded hereunder, whether or not such other insurance provides coverage for loss sustained prior to its effective date. Records. You must keep records of all covered property so we can verify the amount of any loss. Recovering damages. The following paragraphs replace the Recovering Damages From A Third Party section of the General Rules, but only for this insuring agreement. You may be able to recover all or part of your loss from someone other than us. Because of this, you must do all you can to preserve any rights of recovery you may have. If we make a payment for your loss under this agreement, your right of recovery will belong to us. NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 13 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 Any recoveries, less the cost of obtaining them, made after settlement of loss covered by this agreement will be distributed: to you until you are reimbursed for any loss you sustain that exceeds the limit of coverage and the deductible amount, if any; then to us, until we are reimbursed for the settlement made; then to you, until you are reimbursed for that part of the loss equal to the deductible amount if any. But, this doesn't include recovery: from insurance, suretyship, reinsurance, security or indemnity taken for our benefit; or of original securities after duplicates of them have been issued. Other insurance. Other insurance may be available to pay for a claim covered by this agreement. If you have other insurance, we'll pay the amount of your loss that's left after your other insurance has been used up. However, we won't pay more than the limit of coverage under this agreement. Other Rules For Employee Theft - Per Loss Coverage And Employee Theft - Per Employee Coverage We'll indemnify any of your officials who are required by law to give individual bonds for the faithful performance of their duties against loss through theft committed by employees who serve under them, subject to the applicable limit of insurance. Other Rules For Forgery Or Alteration Coverage Facsimile signatures. We'll treat mechanically reproduced facsimile signatures the same as handwritten signatures. Records. You must keep all checks, drafts, promissory notes, or similar written promises or directions and records of such items. If this isn't possible, we'll need an affidavit setting forth the amount and cause of loss. This will allow us to verify the amount of any loss. Other Rules For Robbery And Safe Burglary Coverage Transporting property by armored car. We'll pay for loss of or damage to property that results directly from actual or attempted robbery while; outside your building; and in the care and custody of an armored motor vehicle company. But we'll only pay for the amount of loss that you can't recover: under your contract with the armored motor vehicle company; and NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 14 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 qo from any insurance carried by or on behalf of the armored motor vehicle company. r- Property with limited coverage. We'll only pay up to $5,000 in any one event for all loss or damage to precious metals, precious or semi-precious stones, pearls or furs. This includes articles made of or containing such materials that make up the principle value of the article. Other Rules For Computer Fraud Coverage Property with limited coverage. We'll only pay up to $5,000 in any one event for all loss or damage to manuscripts, drawings, or records of any kind. This includes the cost of reconstructing them or reproducing any information contained in them. re NAME OF INSURED: Colorado Co. Casualty & Property Pool PAGE 15 OF 15 POLICY NO: GP06301110 EFFECTIVE DATE: 01/01/2003 FORM 40502 +/ Hello