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Colorado Counties
Casualty and Property Pool
2013 Excess Property Policy
Lexington & Hiscox
Summaries are brief outlines of the coverages afforded under the insurance policies.
Since summaries are for informational purposes only, they should not be construed to
constitute the entire insurance contracts. As the policies may contain additional
coverages and restrictions, the exact wording should be consulted.
Brief Summary of Property Deductibles
This information is provided to present counties with a simple overview of
county deductibles in the pool. It does not provide information on limits.
The pool insuring agreements contain actual coverages and limits.
The county has a $500 deductible for property claims.
The pool pays the next $149,500 of each claim
CAPP's excess insurance carrier pays up to $100 million per property
claim unless otherwise stated in the CAPP Insuring Agreements.
CAPP provides up to $1 million of crime coverage (employee dishonesty, robbery,
forgery, money) subject to a $500 deductible.
GGallagher i'urn is SFcTc)R
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Colorado Counties Casualty and Property Pool
c/o CTSI
800 Grant Street, Ste 400
Denver, CO 80204
2013 Current Schedule of Insurance
Policy Period:
January 1, 2013 to January 1, 2014
Date Prepared: March 6, 2013
Prepared by:
Arthur J. Gallagher Risk Management Services, Inc.
6399 South Fiddlers Green Circle, Suite 200
Greenwood Village,CO Soul
800.333.3231
303.773.9776(Fax)
IA N%N%.ajgrnu.com
Colorado Counties Casualty and Property Pool G Gallagher ruI a ' ( 1Ok
Named Insured Schedule (as of 1/1/2013)
Colorado Counties Casualty and Property Pool
including the following members:
Alamosa Gilpin Otero
Archuleta Grand Ouray
Baca Gunnison Park
Bent Hinsdale Phillips
Chaffee Huerfano Prowers
Cheyenne Jackson Pueblo
Clear Creek Kiowa Rio Blanco
Conejos Kit Carson Rio Grande
Costilla Lake Routt
Crowley La Plata Saguache
Custer Las Animas San Juan
Delta Lincoln San Miguel
Dolores Logan Sedgwick
Eagle Mineral Summit
Elbert Moffat Teller
Fremont Montrose Washington
Garfield Morgan Weld
Yuma
Page I 1
Colorado Counties Casualty and Property Pool G Gallagher run a .i c a ik
Excess Property - Lexington
Carrier: Lexington Insurance Company
(Non-Admitted Carrier)
Policy Number: 020412751
Policy Period: January 1, 2013 to January 1, 2014
Named Insured: Colorado Counties Casualty and Property Pool, 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
Covered Property: Real & Personal Property, Automobile Physical Damage, and Equipment
Breakdown and as per policy form
Covered Locations: Refer to Statement of Values
Policy Limits: Amounts Coverages
$ 100,000,000 Per occurrence subject to following sublimits
Sublimits (other than
Equipment
Breakdown): ' $ 25,000,000 In the Aggregate for any one policy year of Earthquake
$ 5,000,000 In the Aggregate for any one policy year for Flood loss in
Zones A, AO, AE, AH, Al-30, A99, AR
$ 50,000,000 In the Aggregate for any one policy year for all Other Flood
Combined
$ 10,000,000 Newly acquired property, per location are to be reported to
the Company within 90 days of acquisition
$ 5,000,000 Builders' Risk, renovations, repairs made by the Insured at
any location (including new locations with total contract cost
under $5,000,000) within the territorial limits of the policy,
any one occurrence
$ 1,000,000 Builder's Risk Soft Costs/Additional Expenses; $500,000 any
unscheduled location, any one occurrence
$ 50,000 Personal Property of Others while on the Insured's property
$ 1,000,000 Miscellaneous Unnamed Locations
$ 1,000,000 Errors and Omissions
Sublimits are part of and not in addition to the Policy Limit of Liability These Sublimits do not increase the Policy Limit of Liability or
any other Sublimit All Sublimits are Per Occurrence unless otherwise indicated.
Page 12
Colorado Counties Casualty and Property Pool G Gallagher purl r( ' ( R Ck
Excess Property - Lexington (Continued)
Sublimits (other than
Equipment
Breakdown) (Cont'd): $ 10,000,000 Ordinance Deficiency
$ 10,000,000 Extra Expense — No monthly limitation based on period of
restoration as defined in the policy
$ 1,000,000 Property In Transit
$ 25,000 In the Aggregate Pollution Clean Up and Removal, each
County listed as a Named Insured
$ 25,000 Mold/Fungus Exclusion with exception Endorsement
$ 100,000 Data Extension Endorsement
Equipment Breakdown
Limits: Amounts Coverages
$ 100,000,000 Per Accident (as defined in policy)
Sublimits: $ 1,000,000 Extra Expense
$ 5,000,000 Builder's Risk
$ 1,000,000 Expediting Expense
$ 1,000,000 Hazardous Substances
$ 1,000,000 Spoilage (includes Ammonia Contamination)
Included Water Damage
$ 500,000 Data Restoration
$ 2,500,000 Ordinance Deficiency
Excluded Business Income
$ 5,000,000 Newly Acquired Locations— 90 Day Reporting
$ 25,000 Mold/Fungus - Named Perils
Deductible Amounts Coverages
$ 150,000 Per Occurrence except
5% of TIV at the As respects locations wholly or partially within a Flood Zone A
Time of Loss at area (as defined by FEMA)
Each Location
subject to a
minimum of
$1,000,000
$ 5,000 Equipment Breakdown / Per Accident except
$ 10,000 Equipment Breakdown Per Accident for the Snake River Water
Treatment Facilities in Dillon, CO
10 Days Builders Risk Soft Costs
Page 13
Colorado Counties Casualty and Property Pool G Gallagher purl r( ',I( 1Ok
Excess Property - Lexington (Continued)
Covered Perils: Direct Physical Loss except where specifically excluded
Manuscript Property Form
Coinsurance: None
Valuations: Real & Personal Property at Replacement Cost and/or Per Policy Form
Vehicle Damage and Mobile Equipment Damage - Actual Cash Value
Time Element at Actual Loss Sustained
Terms/Conditions: • Occurrence Limit of Liability Endorsement — Clause 2b Deleted
• Pollution, Contamination, Debris Removal Exclusion Endorsement
• Standard Property Conditions
• Combined Property/B&M Millennium Endorsement
• Mold/Fungus Exclusion with Named Peril Sublimit
• Terrorism Exclusion — Certified and Non-Certified Acts
• Notice of Cancellation is 90 days except 10 days for non-payment of
premium
• Soft Costs/Additional Expense Endorsement
Policy Territory: • Property located within the 50 United States
Exclusions Include but • Crime, Employee Dishonesty
are not Limited to: • Pollution, Mold or Fungus (except where specifically provided in the policy
or by specific endorsement)
• Business Income/Rental Value
• Nuclear
• Inventory shortage, mysterious disappearances
Minimum Earned
Premium: 25%
Page 14
Colorado Counties Casualty and Property Pool G Gallagher purl a .I( r0k
Excess Property - Lexington (Continued)
Claims Reporting CTSI as Claims Administrator for CAPP is to report claims when claim reaches 50%
Instructions: of the Deductible or if a serious catastrophic claim such as fire, flood, earthquake,
etc.
Claims are to be reported to:
Lexington Insurance Company
C/o AIG Domestic Claims, Unit II
101 Hudson Street, 20"' Floor
Jersey City, NJ 07302
Easylink Fax: 866-947-1331
Main Fax: 201-631-5060
Alternate Fax: 201-631-5024
Parsippanycommercialproperty@AIG.com
Copies of any claims are also to be sent to:
Arthur J. Gallagher Risk Management Services, Inc.
6399 S. Fiddler's Green Circle, Ste 200
Greenwood Village, CO 80111
Att: Kendall Trump
Voice Mail: 303-889-2570
Direct E-Mail: kendall trump@ajg.com
Claims E-mail: AJGDenverClaims@aiq.com
Claims Fax Number: 303-220-7010
Page 15
LEXINGTON INSURANCE COMPANY
Administrative Offices:100 Summer Street, Boston, Massachusetts 02110-2103
(hereinafter called the Company)
COMMERCIAL PROPERTY POLICY
DECLARATIONS
POLICY NUMBER: 020412751 RENEWAL OF: 020412751
ITEM 1. Named Insured: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
Address: CIO CTSI
800 GRANT ST, SUITE 400
DENVER, CO 80203
ITEM 2. Policy Period:
From 01 /01/2013 To 01/01/2014
at 12:01 A.M. Standard Time at the address of the named insured shown above.
ITEM 3. Limit of Insurance:
$100,000,000 PER OCCURRENCE AND IN THE PRIMARY SUBJECT TO THE SUBLIMITS AS
PER POLICY FORM
Total Premium $939,012 Minimum Earned Premium $234,753
ITEM 4. Perils:
ALL RISK OF DIRECT PHYSICAL LOSS OR DAMAGE INCLUDING
FLOOD, EARTHQUAKE AND EQUIPMENT BREAKDOWN
ITEM 5. Description of Property Covered: Coinsurance
REAL AND PERSONAL PROPERTY, AUTOMOBILE PHYSICAL DAMAGE, EXTRA EXPENSE
AND AS FURTHER DESCRIBED IN THE POLICY FORM
'This contract is delivered as a surplus line coverage under the
'Nonadmilled Insurance Act.' The Insurer issuing this contract
Is not licensed in Colorado but is an approved nonadmoted
insurer. There is no protection under the provisions of the
'Colorado Insurance Guaranty Association Act.'"
Robert F. Barnes
ITEM 6. Mortgagee Clause: Loss, if any shall be payable to:
ITEM 7. Forms Attached:
See attached forms schedule
ti2h7d4t
PRPDEC (Ed.01/91) Authorized Representative OR
LX1119 Countersignature (In states where applicable)
CAPP 2013 Property Policy 1 of 83
POLICYHOLDER NOTICE
Thank you for purchasing insurance from the Chartis companies. Chartis insurance Companies
generally pay compensation to brokers and independent agents, and may have paid compensation in
connection with your policy. You can review and obtain information about the nature and range of
compensation paid by Chartis insurance companies to brokers and independent agents in the United
States by visiting our website at www.chartisinsurance.com/producercompensation or by calling 1-
800-706-3102.
91222 112/081
CAPP 2013 Property Policy 2 of 83
LEXINGTON INSURANCE COMPANY
Administrative Offices: 100 Summer Street, Boston, Massachusetts 02110-2103
(hereinafter called the Company)
COMMERCIAL PROPERTY POLICY
DECLARATIONS
LEXINGTON INSURANCE COMPANY
Notice to Colorado Policyholders
This contract is delivered as surplus line insurance under the 'Nonadmitted
Insurance Act.' The insurer issuing this contract is not admitted in Colorado but is
an approved nonadmitted insurer. There is no protection under the provisions of
the 'Colorado Insurance Guaranty Association Act.'
If this policy is written on a claims-made basis, the following applies:
This policy is a claims-made policy which provides liability coverage only if a claim
is made during the policy period or any applicable extended reporting period.
Colorado Fraud Warning
It is unlawful to knowingly provide false, incomplete, or misleading facts or
information to an insurance company for the purpose of defrauding or attempting to
defraud the company. Penalties may include imprisonment, fines, denial of
insurance, and civil damages. Any insurance company or agent of an insurance
company who knowingly provides false, incomplete, or misleading facts or
information to a policyholder or claimant for the purpose of defrauding or attempting
to defraud the policyholder or claimant with regard to a settlement or award payable
from insurance proceeds shall be reported to the Colorado Division of Insurance
within the Department of Regulatory Agencies.
PRPDEC (Ed.01/91)
1X1118
CAPP 2013 Property Policy 3 of 83
FORMS SCHEDULE
Named Insured: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
Policy No: 020412751 Effective Date: 01/01/2013
Form Number Edition Date Endorsement Number Title
PRPDEC 01/91 PROPERTY DEC
PRFIRS 01/91 FIRE SCHEDULE
PR9014 08/06 OCCURRENCE LIMIT OF LIABILITY
LX9512 08/02 MOLD/FUNGUS EXCLUSION
PR9015 08/06 POLLUTION CONTAMINATION FORM
PR9019 01/94 STANDARD PROPERTY CONDITIONS
96554 04/08 TERRORISM EXCLUSION
PR9514 09/02 PROPERTY ENDORSEMENT
PR9885 11/05 COVERAGE TERRITORY END
Y69813 02/98 COMB. PROP/B&M MILLENNIUM END
M/S FORM MANUSCRIPT FORM
ENDT A NAMED INSURED END
ENDT B SOFT COSTS/ADDITIONAL EXP END
ENDT C AMENDMENT TO END PR9014
LX9512NPS ENDT D MOLD/FUNGUS EXCL WITH
NAMED PERIL SUBLIMIT
DOC018(Ed. 12/87)
LX0295
CAPP 2013 Property Policy 4 of 83
FIRE
Schedule of Covered Locations
Policy Number: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
Description of Premises Limit Percent of Coins
LOCATED PER SCHEDULE OF VALUES ON FILE PER POLICY FORM
WITH LEXINGTON INSURANCE COMPANY AND ENDORSEMENTS
PRFIRS(Ed.01/91) Page 1 of 1
Lx1120
CAPP 2013 Property Policy 5 of 83
OCCURRENCE LIMIT OF LIABILITY ENDORSEMENT
It is agreed that the following special terms and conditions apply to this policy:
1. The limit of liability or Amount of Insurance shown on the face of this policy, or endorsed on this
policy, is the total limit of the Company's liability applicable to each occurrence, as hereafter
defined. Notwithstanding any other terms and conditions of this policy to the contrary, in no event
shall the liability of the Company exceed this limit or amount irrespective of the number of locations
involved.
The term "occurrence" shall mean, any one loss, disaster, casualty, or series of losses, disasters,
or casualties, arising out of one event. When the term applies to loss or losses from the perils of
tornado, cyclone, hurricane, windstorm, hail, flood, earthquake, volcanic eruption, riot, riot attending
a strike, civil commotion, vandalism and malicious mischief, or terrorism, one event shall be
construed to be all losses arising during a continuous period of 72 hours. When filing proof of loss,
the Insured may elect the moment at which the 72 hour period shall be deemed to have
commenced, which may not be earlier than the time when the first loss to covered property
occurs.
2. The premium for this policy is based upon the Statement of Values provided to the Insurers) by or
on behalf of the Insured and kept on file by the Insurer(s). In the event of loss under the policy, the
liability of the Insurer(s) shall be limited to the least of the following:
a.) The actual adjusted amount of loss, less applicable deductible(s);
b.) As respects each location insured by this Policy, REFER TO ENDORSEMENT C percent of the
total combined stated values for all categories of covered property (e.g. building, contents) and
other covered exposures (e.g., business income, extra expense, rental loss), shown for that
location on the latest statement of values or other documentation on file with the insurer.
c.) Any other Limit of Liability or Sublimit of Insurance or Amount of Insurance specifically stated
in this policy to apply to any particular insured loss or coverage or location.
PR8014(08/06)
1X1083
CAPP 2013 Property Policy 6 of 83
ENDORSEMENT
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
MOLD / FUNGUS EXCLUSION
In consideration of the premium charged, it is hereby understood and agreed that this policy is
amended as follows.
The Company shall not be liable for any loss or damage caused by, arising out of, contributed to, or
resulting from fungus, mold(s), mildew or yeast; or any spores or toxins created or produced by or
emanating from such fungus, mold(s), mildew or yeast;
(a) fungus includes, but is not limited to, any of the plants or organisms belonging to the major
group fungi, lacking chlorophyll, and including mold(s), rusts,mildews, smuts and mushrooms;
(b) mold(s) includes, but is not limited to, any superficial growth produced on damp or decaying
organic matter or on living organisms, and fungi that produce mold(s);
(c) spores means any dormant or reproductive body produced by or arising or emanating out of
any fungus, mold(s), mildew, plants, organisms or microorganisms,
regardless of any other cause or event that contributes concurrently or in any sequence to such loss.
All other terms, conditions, definitions, exclusions, limitations and provisions of the Policy remain the
same.
Gam^ l/7il/
Authorized Representative OR
Countersignature (In states where applicable)
LX9512(081021
CAPP 2013 Property Policy 7 of 83
POLLUTION, CONTAMINATION, DEBRIS REMOVAL
EXCLUSION ENDORSEMENT
1. Property Not Covered
This policy does not cover land, land values or water.
2. Pollution and Contamination Exclusion.
This policy does not cover loss or damage caused by, resulting from, contributed to or made worse
by actual, alleged or threatened release, discharge, escape or dispersal of CONTAMINANTS or
POLLUTANTS, all whether direct or indirect, proximate or remote or in whole or in part caused by,
contributed to or aggravated by any physical damage insured by this policy.
Nevertheless, if fire is not excluded from this policy and a fire arises directly or indirectly from
seepage or contamination or pollution, any loss or damage insured under this policy arising directly
from that fire is insured, subject to the provisions of this policy.
CONTAMINANTS or POLLUTANTS means any solid, liquid, gaseous or thermal irritant or
contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste, which after
its release can cause or threaten damage to human health or human welfare or causes or threatens
damage, deterioration, loss of value, marketability or loss of use to property insured hereunder,
including, but not limited to, bacteria, virus, or hazardous substances as listed in the Federal Water,
Pollution Control Act, Clean Air Act, Resource Conservation and Recovery Act of 1976, and Toxic
Substances Control Act or as designated by the U. S. Environmental Protection Agency. Waste
includes materials to be recycled, reconditioned or reclaimed.
This exclusion shall not apply when loss or damage is directly caused by fire, lightning, aircraft
impact, explosion, riot, civil commotion, smoke, vehicle impact, windstorm, hail, vandalism,
malicious mischief. This exclusion shall also not apply when loss or damage is directly caused by
leakage or accidental discharge from automatic fire protective systems.
3. Asbestos, Dioxin or Polychlorinated Biphenols Exclusions
This policy does not cover -
a) Asbestos, dioxin or polychlorinated biphenols (hereinafter all referred to as "Materials") removal
from any good, product or structure unless the asbestos is itself damaged by fire, lightning,
aircraft impact, explosion, riot, civil commotion, smoke, vehicle impact, windstorm or hail,
vandalism, malicious mischief, leakage or accidental discharge from automatic fire protective
system.
b) Demolition or increased cost of reconstruction, repair, debris removal or loss of use
necessitated by the enforcement of any law or ordinance regulating such Materials;
c) Any governmental direction or request declaring that such Materials present in or part of or
utilized on any undamaged portion of the insured's property can no longer be used for the
purpose for which it was intended or installed and must be removed or modified.
The exception to exclusion 3(a), above, does not apply to payment for the investigation or defense
of any loss, damage or any undamaged portion of the insured's property can no longer be used for
the purpose for which it was intended
4. Debris Removal Exclusion
The Company will pay the expense within the sum insured to remove debris of insured property
damaged or destroyed by an insured peril during the policy term.
The Company will not pay the expense to:
a) Extract contaminants or pollutants from the debris; or
b) Extract contaminants or pollutants from land or water; or
PR9015 1081061
LX1093
CAPP 2013 Property Policy 8 of 83
c) Remove, restore or replace contaminated or polluted land or water; or
d) Remove or transport any property or debris to a site for storage or decontamination required
because the property or debris is affected by pollutants or contaminants, whether or not such
removal, transport, or decontamination is required by law or regulation.
It is a condition precedent to recovery under this extension that the Company shall have paid or
agreed to pay for direct physical loss or damage to the property insured hereunder and that the
Insured shall give written notice to the Company of intent to claim for cost of removal of debris or
cost to clean up not later than 180 days after the date of such physical loss or damage.
5. Authorities Exclusion
Notwithstanding any of the provisions of this policy, the Company shall not be liable for loss,
damage, costs, expenses, fines or penalties incurred or sustained by or imposed on the Insured at
the order of any Government Agency, Court or other Authority arising from any cause whatsoever.
PR9015108//06)
LX1093
CAPP 2013 Property Policy 9 of 83
LEXINGTON INSURANCE COMPANY
Standard Property Conditions
This endorsement effective 01/01/2013 forms a part of Policy Number 020412751
issued to COLORADO COUNTIES CASUALTY AND PROPERTY POOL
by
LEXINGTON INSURANCE COMPANY (hereinafter called "the Company").
In consideration of the premium charged,the following clauses are hereby made applicable under this policy.
MINIMUM EARNED PREMIUM CLAUSE
In the event of cancellation of this policy by the Insured, a minimum premium of $234,753 shall become
earned, any provision of the policy to the contrary notwithstanding.
Failure of the Insured to make timely payment of premium shall be considered a request by the Insured for the Company
to cancel on the Insured's behalf. In the event of such cancellation for non-payment of premium, the minimum earned
premium shall be due and payable; provided, however, such cancellation shall be rescinded if the Insured remits and the
Company receives the full policy premium with 10 days after the date of issuance of the cancellation notice. Such re-
mittance and acceptance by the Company shall not effect the minimum earned premium provision of this endorsement.
In the event of any other cancellation by the Company, the earned premium shall be computed pro-rata, not subject to
the minimum earned premium.
POLICY DEDUCTIBLE
Each claim for loss or damage separately occurring shall be adjusted separately and from each such adjusted claim,the
amount of $150,000 shall be deducted. Notwithstanding the foregoing, the deductible amount applying to
certain peril(s) insured against by this policy shall be as follows:
deductible applying to REFER TO POLICY FORMS AND ENDORSEMENTS
deductible applying to FOR SELF-INSURED RETENTION CONDITIONS
deductible applying to
deductible applying to
deductible applying to
In the event of any other insurance covering the property insured hereunder, whether or not concurrent, the
deductible(s) specified herein shall apply in full against that portion of any claim for loss or damage which the Company
is called upon to pay under the provisions of the Apportionment Clause irrespective of any provisions to the contrary of
such other insurance.
CANCELLATION CLAUSE
Except and to the extent of the Minimum Earned Premium Clause which is part of this policy, this clause supersedes
other cancellation clauses made a part of this policy.
CANCELLATION: This policy may be cancelled by the Insured by surrender thereof to the Company or by mailing to the
Company written notice stating when thereafter such cancellation shall be effective.This policy may be cancelled by the
Company by mailing to the Insured, at the mailing address shown in this policy or last known address, written notice,
stating when, not less than90 days thereafter (10 days for non-payment of premium) such cancellation shall be ef-
fective. The effectiveness of cancellation is not dependent on the return of unearned premium with the notice. Proof of
mailing of notice as aforesaid shall be sufficient proof of notice. The effective date and hour of cancellation stated in the
notice shall become the end of the policy period. Delivery of such written notice either by the Insured or the Company
shall be equivalent to mailing. If the Insured cancels, earned premium shall be computed in accordance with the cus-
tomary short rate table and procedure. If the Company cancels, earned premium shall be computed pro rata. Premium
adjustment shall be made as soon as practicable after cancellation becomes effective.
SERVICE OF SUIT CLAUSE
Service of Suit: In the event of failure of the Company to pay any amount claimed to be due hereunder, the Company,
at the request of the Insured, will submit to the jurisdiction of a court of competent jurisdiction within the United States.
Nothing in this condition constitutes or should be understood to constitute a waiver of the Company's rights to com-
mence an action in any court of competent jurisdiction in the United States to remove an action to a United States
District Court or to seek a transfer of a case to another court as permitted by the laws of the United States or of any
state in the United States. It is further agreed that service or process in such suit may be made upon Counsel, Legal
Departrnent, Company stated on Declarations, 100 Summer Street, Boston, Massachusetts, 02110-2103, or his or her
representative, and that in any suit instituted against the Company upon this policy, the Company will abide by the final
decision
1 of 2
PR9019 (Ed.01/94)
LX1101
CAPP 2013 Property Policy 10 of 83
of such court or of any appellate court in the event of an appeal.
Further, pursuant to any statute of any state, territory, or district of the United States which makes provision therefor,
the Company hereby designates the Superintendent, Commissioner or Director of Insurance, other officer specified for
that purpose in the statute, or his successor or successors in office as its true and lawful attorney upon whom may be
served any lawful process in any action, suit, or proceeding instituted by or on behalf of the Insured or any beneficiary
hereunder arising out of this policy of insurance and hereby designates the above named Counsel as the person to
whom the said officer is authorized to mail such process or a true copy thereof.
WAR RISK EXCLUSION CLAUSE
The Company shall not be liable for any loss, caused directly or indirectly, by (1) hostile or warlike action in time of
peace or war, whether or not declared, including action in hindering, combating or defending against an actual, im-
pending or expected attack (a) by government or sovereign power (dejure 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 force (2) any weapon of war employing atomic fission or radioactive force whether in time of peace
or war, whether or not its discharge was accidental; (3) insurrection, rebellion, revolution, civil war, usurped power, or
action taken by government authority in hindering, combating, or defending against such an occurrence, seizure or de-
struction; (4) any consequence of any of the foregoing.
NUCLEAR EXCLUSION CLAUSE
The Company shall not be liable for loss by nuclear reaction or nuclear radiation or radioactive contamination all whether
controlled or not, 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. If the peril of fire is insured under this policy,
then, subject to the foregoing and all provisions of this policy, direct loss by fire resulting from nuclear reaction or nu-
clear radiation or radioactive contamination is insured against by this policy.
SALVAGE AND RECOVERY CLAUSE
All salvages, recoveries and payments recovered or received either prior or subsequent to a loss settlement under this
policy shall be applied as if recovered or received prior to the said settlement and all necessary adjustments shall be
made by the parties hereto, including deduction of the Company's cost of recovery or salvage.
REPORTING CLAUSE
Notwithstanding that the Insured may be obligated to report full values for premium purposes,the Company's maximum
limit of liability shall not exceed that amount stated as the policy limit of liability.
PROOF OF LOSS AND PAYMENT
The Insured shall complete and sign a sworn proof of loss within ninety (90) days after the occurrence of a loss
(unless such period be extended by the written agreement of the Company) stating the time, place and cause of loss,
the interest of the Insured and of all others in the property, the sound value thereof and the amount of loss or damage
thereto, and all other insurance thereon. All adjusted claims shall be due and payable thirty (30) days after the
presentation and acceptance of satisfactory proof(s) of loss at the office of the Company at 100 Summer Street,
Boston, Massachusetts 02110-2103.
GOVERNMENT ACTIVITY CLAUSE
The Company shall not be liable for loss or damage caused by or resulting from: (1) the seizure or destruction of prop-
erty insured by this policy by any government body, including any customs or quarantine action, or (2) confiscation or
destruction of any property by order of any government or public authority, except an order to destroy property to pre-
vent the spread of fire or explosion.
IN WITNESS WHEREOF, the Company has caused this policy to be executed and attested, but this policy shall not
be valid unless countersigned in the Declarations by one of its duly authorized representatives.
ecretiod
a -� siiZ
2 of 2
PR9019 (Ed.01/94)
LX1101
CAPP 2013 Property Policy 11 of 83
ENDORSEMENT
This endorsement, affective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
TERRORISM EXCLUSION -CERTIFIED AND NON-CERTIFIED ACTS
This insurance does not apply to loss, injury, damage, claim or suit, arising directly or indirectly as a
result of an "act of terrorism", which is defined in the Terrorism Risk Insurance Act of 2002, as
amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 (collectively,
"TRIA") as follows:
(1) ACT OF TERRORISM. -
(A) CERTIFICATION. - The term "act of terrorism" means any act that is certified by the
Secretary [of the Treasury], in concurrence with the Secretary of State, and the
Attorney General of the United States-
(i) to be an act of terrorism;
(ii) to be a violent act or an act that is dangerous to -
(I) human life;
(II) property; or
(III) infrastructure;
(iii) to have resulted in damage within the United States,or outside of the United States
in the case of-
(I) an air carrier or vessel[described in TRIA]; or
(II) the premises of a United States mission; and
(iv) to have been committed by an individual or individuals as part of an effort to coerce
the civilian population of the United States or to influence the policy or affect the
conduct of the United States Government by coercion.
(B) LIMITATION. - No act shall be certified by the Secretary as an act of terrorism if-
(i) the act is committed as part of the course of a war declared by the Congress,
except that this clause shall not apply with respect to any coverage for workers'
compensation; or
(ii) property and casualty insurance losses resulting from the act, in the aggregate, do
not exceed $5,000,000.
(C) DETERMINATIONS FINAL. - Any certification of, or determination not to certify, an act
as an act of terrorism under this paragraph shall be final, and shall not be subject to
judicial review.
(D) NONDELEGATION. • The Secretary may not delegate or designate to any other officer,
employee, or person, any determination under this paragraph of whether, during the
effective period of the Program, an act of terrorism has occurred.
This insurance also does not apply to loss, injury, damage, claim or suit, arising directly or indirectly
as a result of a "non-certified act of terrorism", which means any act that is not an "act of
terrorism", as defined above,that
(1) involves the use of force or violence against person or property;
(2) is dangerous to human life or property; or
(3) interferes with or disrupts an electronic or communication system; and
(4) is undertaken by any group or person, whether or not acting on behalf of or in any
connection with any organization, government, power, authority or military force, when the
effect is to intimidate, coerce or harm:
96554 (4/08) Page 1 of 2
CAPP 2013 Property Policy 12 of 83
(A) a government;
(B) the civilian population of a country, state or community; or
(C) to disrupt the economy of a country, state or community.
All other terms and conditions of the policy are the same.
Authorized Representative or
Countersignature(in States Where
Applicable)
96554 (4/08) Page 2 of 2
CAPP 2013 Property Policy 13 of 83
ENDORSEMENT
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
PROPERTY ENDORSEMENT
It is noted and agreed that this policy is hereby amended as follows:
The Insurer will not pay for Damage or Consequential loss directly or indirectly caused by, consisting of,
or arising from:
1. Any functioning or malfunctioning of the internet or similar facility, or of any intranet or private
network or similar facility,
2. Any corruption, destruction, distortion, erasure or other loss or damage to data, software, or any
kind of programming or instruction set,
3. Loss of use or functionality whether partial or entire of data, coding, program, software, any
computer or computer system or other device dependent upon any microchip or embedded logic,
and any ensuing liability or failure of the Insured to conduct business.
This Endorsement shall not exclude subsequent damage or Consequential loss, not otherwise
excluded, which itself results from a Defined Peril. Defined Peril shall mean: Fire, Lightning,
Earthquake, Explosion, Falling Aircraft, Flood, Smoke, Vehicle Impact, Windstorm or Tempest.
Such Damage or Consequential loss described in 1, 2, or 3 above is excluded regardless of any other
cause that contributed concurrently or in any other sequence.
All other terms, conditions and exclusions of this policy remain unchanged.
tiPd/ri
Authorized Representative OR
Countersignature (In states where applicable)
P119514(09/02)
CAPP 2013 Property Policy 14 of 83
ENDORSEMENT
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
COVERAGE TERRITORY ENDORSEMENT
This endorsement modifies insurance provided under the following:
Payment of loss under this policy shall only be made in full compliance with all United States of
America economic or trade sanction laws or regulations, including, but not limited to, sanctions, laws
and regulations administered and enforced by the U.S. Treasury Department's Office of Foreign Assets
Control ("OFAC").
trelP/V2—
Authorized Representative OR
Countersignature (In states where applicable)
PR9885(11105)
CAPP 2013 Property Policy 15 of 83
ENDORSEMENT
This endorsement effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
COMBINED PROPERTY/BOILER &MACHINERY MILLENNIUM ENDORSEMENT
This policy is hereby amended as follows:
A. The Insurer will not pay for Damage or Consequential Loss directly or indirectly caused by,
consisting of, or arising from, the failure of any computer, data processing equipment, media
microchip, operating systems, microprocessors (computer chip), integrated circuit or similar device,
or any computer software, whether the property of the Insured or not, and whether occurring before,
during or after the year 2000 that results from the inability to:
1. correctly recognize any date as its true calendar date;
2. capture, save, or retain, and/or correctly manipulate, interpret or process any data or information
or command or instruction as a result of treating any date other than its true calendar date;
and/or
3. capture, save, retain or correctly process any data as a result of the operation of any command
which has been programmed into any computer software, being a command which causes the
loss of data or the inability to capture, save, retain or correctly process such data on or after any
date.
B. It is further understood that the Insurer will not pay for the repair or modification of any part of an
electronic data processing system or its related equipment, to correct deficiencies or features of
logic or operation.
C. It is further understood that the Insurer will not pay for Damage or Consequential Loss arising from
the failure, inadequacy, or malfunction of any advice, consultation, design, evaluation, inspection,
installation, maintenance, repair or supervision done by the Insured or for the Insured or by or for
others to determine, rectify or test, any potential or actual failure, malfunction or inadequacy
described in A. above.
Such Damage or Consequential Loss described in A, B, or C above, is excluded regardless of any
other cause that contributed concurrently or in any other sequence.
This endorsement shall not exclude subsequent Damage or Consequential Loss, not otherwise
excluded, which itself results from a Defined Peril. Defined Peril shall mean fire, lightning, explosion,
aircraft or vehicle impact, falling objects, windstorm, hail, tornado, hurricane, cyclone, riot, strike,
civil commotion, vandalism, malicious mischief, earthquake, volcano, tsunami, freeze or weight of
snow, sudden and accidental breakdown of an object, including mechanical and electrical
breakdown.
All other terms, conditions and exclusions of this policy remain unchanged.
t214/7d/L -
AUTHORIZED REPRESENTATIVE
69813 (2/98) OR Countersignature (In states where applicable)
CAPP 2013 Property Policy 16 of 83
Coverage Summary
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
$100,000,000 per occurrence. For sublimits refer to Insuring Agreement, paragraph III.
Insuring Agreement
I. NAMED 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, trustees 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
Coverage applies to property located within the 50 states comprising the United States of
American and the District of Columbia.
III. ULTIMATE NET LOSS
In calculating the amount of Ultimate Net Loss, this insurance is deemed to have the following
maximum sublimits:
A. $ 25,000,000 In the aggregate annually as respects Earthquake loss.
B. $ 5,000,000 In the aggregate annually as respects any Flood loss in Zones A, AO,
AE, AH, A1-30, A99, AR.
C. $ 50,000,000 In the aggregate annually as respects all other Flood loss.
D. $ 50,000,000 In the aggregate annually for all Flood losses combined.
Name of Insured: Colorado Counties Casualty&Property Pool Page 1 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 17 of 83
E. $ 10,000,000 Newly acquired property any one Occurrence; with values over
$10,000,000 to be reported to this Company within 90 days of
acquisition.
F. $ 5,000,000 Builders risks, renovations, repairs made by the Insured at any location
(including new locations with total contract cost under $5,000,000)
within the territorial limits of the policy, any one occurrence.
G. $ 1,000,000 Builders Risk Soft Costs/ Additional Expenses per Company
Endorsement
H. $ 1,000,000 At any unscheduled location, any one occurrence.
I. $ 50,000 Personal property of Others while on the Insured's property.
J. $ 10,000,000 Ordinance Deficiency
K. $ 10,000,000 Extra Expense
L. $ 1,000,000 Property in Transit
M. $ 1,000,000 Errors or Omissions
N. $ 25,000 in the Annual Aggregate Pollution Clean Up and Removal, each County
listed as a Named Insured
O. $ 25,000 Mold/Fungus Exclusion Terms per Company Endorsement
Policy Deductible:
Each claim for loss or damage separately occurring shall be adjusted separately and from each
adjusted claim, the amount of$150,000 shall be deducted. Notwithstanding the foregoing, the
deductible amount applying to certain peril(s) insured against by this policy shall be as follows:
Flood Deductible:
5% of Total Insurable Values at the time of the loss at each location involved in the loss, or
damage subject to a minimum of $1,000,000 any one occurrence, as respects locations wholly or
partially within Special Flood Hazard Areas (SFHA), areas of 100-year flooding, as defined by the
Federal Emergency Management Agency (FEMA):
Equipment Breakdown $ 5,000 per Accident, except
$10,000 per Accident for the Snake River Waste Water
Treatment facilities in Dillon
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:
Name of Insured: Colorado Counties Casualty&Property Pool Page 2 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 18 of 83
A. Discharge the Insured's obligation under the terms of this agreement by administering a
complete claims handling program.
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.
Property Insurance
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.
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,film, drawings, abstracts, deeds,
mortgages and manuscripts, but does not mean money and securities, but includes additional
Name of Insured: Colorado Counties Casualty&Property Pool Page 3 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 19 of 83
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
collections 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:
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 dependant 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 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, cyclones),
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).
7. BUILDERS RISK
This policy cover projects in the course of construction at any location, other than a
Unscheduled Location, within the policy TERRITORY as defined in Section II above, subject
to the "total project value" not exceeding the Sublimit shown in Section III ULTIMATE NET
LOSS above.
Alteration, addition, extension, repairs and/or remodeling projects are included under this
extension.
Name of Insured: Colorado Counties Casualty&Property Pool Page 4 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 20 of 83
As respects locations other than insured locations, coverage under this extension shall
commence when the Insured first acquires an insurable interest at the location and shall
cease sixty (60) days from the date of such acquisition, or when reported to and accepted by
the Company, on the expiration date of this policy, whichever occurs first.
No coverage is provided under this property in this extension for property while in transit or
while waterborne.
The term "total project value" shall mean the cost of all labor, materials, equipment,
machinery, or supplies intended to be a permanent part of the completed buildings(s) or
structure(s) and in which the Insured has an insurable interest at the time of the loss or
damage.
Excluded Perils
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 resulting from loss of use, delay or loss of markets.
3. 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.
4. 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.
5. 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.
6. Loss by normal settling, normal shrinkage or normal expansion in foundations, walls, floors or
ceilings.
7. Loss by mechanical derangement, inherent vice or latent defect,
8. 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.
Name of Insured: Colorado Counties Casualty&Property Pool Page 5 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 21 of 83
9. Loss resulting from shrinkage, evaporation, loss of weight or leakage, unless such loss is
caused directly by fire or the combating thereof, lightening, 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.
10. 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.
Excluded Property
• Animals;
• Aircraft
• Standing timber, growing crops, land and land values;
• Currency, money, notes, and securities;
• Bridges, culverts, roadways, streets, walks, or paved surfaces, dams, docks, piers and
wharves
• water;
• Tunnels used for vehicular traffic; underground mines and property therein.
The following property not at a Covered Location:
• Underground piping, wiring, flues or drains;
• Reservoirs, transmission and distribution lines, telephone and power poles and appurtenants,
street and highway lighting and signs.
The following property not part of museum collections and/or exhibits at a Covered Location:
• Furs; jewelry; precious and semi-precious stones, gold, silver, platinum and other precious
metals and alloys.
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.
Name of Insured: Colorado Counties Casualty&Property Pool Page 6 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 22 of 83
B (Automobile)—the actual cash value of the automobile at the time of loss.
Name of Insured: Colorado Counties Casualty&Property Pool Page 7 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 23 of 83
2. REMOVAL CLAUSE. This Insurance covered 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.
3. 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.
4. 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 calculate 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 appraiser and equally pro rate the cost of the umpire.
5. 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 caused or contributed to by war,
invasion, revolution, rebellion, insurrection or other hostilities or warlike operations.
6. 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.
7. EXPENSE TO REDUCE OR PREVENT LOSS. This Insurance also covers 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.
General Conditions
1. PREMIUM PROVISION
See Declarations Page.
Name of Insured: Colorado Counties Casualty&Property Pool Page B of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 24 of 83
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. CURRENCY
The premium and losses under this Insurance are payable in United States currency. Payment
of premium shall be made to Arthur J. Gallagher Risk Management Services, Inc.
7. 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.
8. 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.
9. MORTGAGE CLAUSE
The interest of any mortgagor on property covered hereunder is included as if a separate
Name of Insured: Colorado Counties Casualty&Property Pool Page 9 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 25 of 83
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.
10.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 the 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 f the Underwriters, their liability under this
Insurance is likely to be involved, in which case the Insured and Underwrites shall cooperate to
the mutual advantage of both.
11.NOTICE OF LOSS
The Insured through County Technical Services, Inc. Claims Management Department 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 agents within
ninety (90) days from date of loss a detailed sworn proof of loss. Failure by the Insured or
County Technical Services, Inc. to report the said loss or damage and to file such proof of loss
as hereinbefore provided shall not invalidate any claim under this Policy for such loss.
12.EXAMINIATION UNDER OATH
The Insured shall submit, and so far as is 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.
13.SETTLEMENT OF LOSS
All adjusted claims shall be paid or made good to the Insured through County Technical
Services, Inc. within sixty (60) days after presentation and acceptance of satisfactory proof if
interest and loss at the office of this Company. No loss shall be paid hereunder if the Insured
has collected the same from others.
14.LOSS PAYMENTS
When it has been determined that Underwriters are liable under this Insurance, Underwriters
shall thereafter promptly reimburse County Technical Services, Inc. for all payments made in
excess of the amounted stated in the Limits Agreement. All adjusted claims shall be paid or
made good within thirty days after their presentation by County Technical Services, Inc. Claims
Management Department and acceptance by the Underwriters of satisfactory proof of interest
Name of Insured: Colorado Counties Casualty&Property Pool Page 10 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 26 of 83
and loss.
15.NO BENEFIT TO BAILEE
This insurance shall in no wise inure directly or indirectly to the benefit of any carrier or other
bailee.
16.APPEAL
In the event the Insured and Underwriter are unable to agree to the advisability of appealing a
judgment, a disinterested attorney, mutually agreeable to the Underwriter 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 fir the services of
rendering his recommendation only. The Insured's portion of such fee shall not accrue in the
aggregate loss fund.
17.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
18.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.
19.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
Name of Insured: Colorado Counties Casually&Property Pool Page 11 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 27 of 83
any such waiver is made prior to the occurrence of said loss or damage.
20.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 statues.
21.ASSIGNMENT
Assignment of interest under this Insurance shall not bind the Underwriters until the
Underwriters' consent is endorsed hereon.
22.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 part of a set, the measure of loss of or damage to such article 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.
23.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.
24.SUIT
No suit, action or proceeding for the recovery of any claim under the Policy shall be sustainable
in any court of law or equity unless the same be commenced within twelve (12) months 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.
Name of Insured: Colorado Counties Casualty&Property Pool Page 12 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 28 of 83
25.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 a court of record in the state in which such appraisal
is pending. The appraisers shall then appraise ht the loss, stating separately the actual cash
value at the time of loss and the amount of loss, and failing to agree shall submit the
differences to the umpire. An award in writing of any two shall determine the amount of toss.
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 the appraisal.
26.CANCELLATION
This Policy may be cancelled 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 (90) ninety days (10 days for nonpayment of
premium)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 a adjustable
basis the Underwriters shall receive the earned premium hereon or the customary short rate
proportion of any minimum premium stipulated herein whichever is 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.
27.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.
Name of Insured: Colorado Counties Casualty&Property Pool Page 13 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 29 of 83
Subject otherwise to all terms, clauses and conditions heretofore.
28.CHANGES
By acceptance of this Insurance, the Insured agrees that it embodies all agreements 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.
29.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.
30.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 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 loss.
Earth Movement Coverage
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.
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.
Flood Coverage
Name of Insured: Colorado Counties Casualty&Property Pool Page 14 of 21
Policy No.020412731
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 30 of 83
Flood, mudslide or mudflow, and surface water are covered perils.
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.
Transit Extension Insuring Clause
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 the 50 states comprising the
United States of America (excluding Hawaii) and the District of Columbia, 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, lightening, 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.
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 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.
Name of Insured: Colorado Counties Casualty&Property Pool Page 15 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 31 of 83
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.
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 agreements 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.
Extra Expense Coverage
■ It is agreed that if the property covered under Insuring Agreement A is damaged or destroyed
by perils insured against 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".
Name of Insured: Colorado Counties Casualty&Property Pool Page 16 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 32 of 83
It is further agreed that this extension of coverage shall not operate to increase the
Underwriters limits of liability hereunder.
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. 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.
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 damages 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, The Company shall not be liable for:
A. More than the amount set forth in the limits of liability;
B. Loss of income;
Name of Insured: Colorado Counties Casualty&Property Pool Page 17 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 33 of 83
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.
Pollution Cleanup and Removal
Notwithstanding any conditions or terms contained elsewhere in this policy, coverage is extended
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, lightening, 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 the extension only if the following conditions are met:
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 (180) days of either the date of direct physical loss or damage or the
Name or Insured: Colorado Counties Casualty&Property Pool Page 18 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 34 of 83
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 as a Named Insured.
Equipment Breakdown Coverage
Limits:
Equipment Breakdown: $100,000,000 Per Accident Included in $100,000,000 Limit
Extra Expense: $ 5,000,000
Expediting Expenses: $ 1,000,000
Hazardous Substances: $ 1,000,000
Spoilage: $ 1,000,000 (which includes ammonia contamination)
Water Damage: $ Included
Data Restoration: $ 1,000,000
Ordinance Deficiency: $ 2,500,000
Builders Risk $ 5,000,000
Newly Acquired Locations $ 10,000,000 Newly acquired property; with values over
$10,000,000 to be reported to this Company
within 90 days of acquisition
Unscheduled Locations $ 1,000,000
Deductible: Refer to Policy Deductible in Section III above.
Coverage:
It is agreed that if the property insured by Insuring Agreement A of Section I is damaged or
destroyed by an "Accident" to "covered equipment' during the period of this Insurance, the
Underwriters shall be liable for said damage.
Definitions:
A. Accident: The term "accident" means direct physical loss or damage that results from
mechanical breakdown, including rupture or bursting caused by centrifugal force; artificially
generated electrical current, including electrical arcing, that disturbs electrical devices,
appliances or wires; loss or damage to steam boilers, steam pipes, steam engines or steam
turbines caused by or resulting from any condition or event inside such equipment; or loss or
damage to hot water boilers or other water heating equipment caused by or resulting from any
condition or event inside such boilers or equipment.
B. Covered Equipment: The term "covered equipment" means property insured which is built to
operate under vacuum or pressure other than weight of contents; or generates, transmits or
utilizes energy.
Name of Insured: Colorado Counties Casualty&Property Pool Page 19 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 35 of 83
None of the following is "covered equipment".
• A structure, foundation, cabinet, compartment or air supported structure or building;
• Insulating or refractory material;
• Vehicles, including self-propelled vehicles;
• Excavation or constructions equipment;
• Sewer piping, underground vessels or piping, any piping forming a pad of a sprinkler
system;
• Water piping other than boiler feed water piping, boiler condensate return piping or water
piping forming a part of a refrigerating or air conditioning system;
• Equipment manufactured by you for sale; or
• Equipment primarily used to generate power, however this does not apply to emergency
generators.
C. Perishable Goods: The term "perishable goods" means business personal property
maintained under controlled conditions for its preservation which is susceptible to loss or
damage if controlled conditions change.
Additional Coverages:
The following additional coverages also apply to loss caused by or resulting from an "accident" to
"covered equipment".
The limit for each additional coverage is shown in the Equipment Breakdown Schedule. The limits
for each additional coverage are not in addition to the limits of coverage for building or business
personal property shown in ill Ultimate Net Loss.
In addition, unless otherwise shown, the coverages and limits for newly acquired property,
builders risks, unscheduled locations and extra expense in the policy to which this Coverage
Extension is attached also apply to coverage provided by this Coverage Extension. The newly
acquired property and extra expense limits are shown in the Equipment Breakdown Schedule.
A. Expediting Expenses: If property insured is damaged or destroyed by an "accident", the
Underwriters shall be liable for reasonable extra cost to make temporary repairs and expedite
permanent repairs or replacement.
B. Hazardous Substances: The Underwriters shall be liable for additional expenses incurred for
clean-up; repair or replacement; or disposal of property insured which is damaged,
contaminated or polluted by any substance other than ammonia that has been declared to be
hazardous to health by a governmental agency. The Underwriters shall not be liable for more
than the limit for Hazardous Substances shown in the Equipment Breakdown Schedule.
C. Spoilage:
The Underwriters shall be liable:
Name of Insured: Colorado Counties Casualty&Property Pool Page 20 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 36 of 83
1. or loss of"perishable goods" due to spoilage;
2. for physical damage to "perishable goods" due to contamination from the release of
refrigerant, including but not limited to ammonia;
3. for any necessary expenses incurred to reduce the amount of loss under this coverage
to the extent that they do not exceed the amount of loss that otherwise would have been
payable under this coverage.
4. for physical damage to "perishable goods" due to spoilage caused by an "accident" to
equipment that is owned by a utility, landlord, or other supplier of any of the following
services: electrical power, communications, waste disposal, air conditioning,
refrigeration, heating, gas, air, water or steam. Unless otherwise indicated in the
Schedule, the "accident" must occur to equipment within one statute mile of the
premises for coverage to apply.
If the Insured is unable to replace the "perishable goods" before its anticipated sale, the
amount of payment will be determined on the basis of the sales price of the "perishable
goods" at the time of the "accident", less discounts and expenses that otherwise would have
been incurred. Otherwise payment will be determined in accordance with the Valuation
condition. The Underwriters shall not be liable for more than the limit for Spoilage shown in
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 Underwrites shall not be liable
for more than the amount shown in the 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.
Suspension:
When any "covered equipment" is found to be in, or exposed to, a dangerous condition, any
representative of the Underwriters may immediately suspend the insurance against loss from an
"accident" to that "covered equipment". This can be done by mailing or delivering a written notice o
suspension to the address as shown in the policy, or the address where the equipment is located.
Once so suspended, the Insured shall receive pro-rata refund of premium. But the suspension will
be effective even if a refund has not yet made or offered.
Name of Insured: Colorado Counties Casualty&Property Pool Page 21 of 21
Policy No.020412751
Policy Term: January 1,2013 to January 1,2014
CAPP 2013 Property Policy 37 of 83
ENDORSEMENT A
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
NAMED INSURED ENDORSEMENT
It is agreed that the Participating Member Counties named hereunder are included as Named Insureds:
1. Alamosa 26. Lake
2. Archuleta 27. La Plata
3. Baca 28. Las Animas
4. Bent 29. Lincoln
5. Chaffee 30. Logan
6. Cheyenne 31. Mineral
7. Clear Creek 32. Montrose
8. Conejos 33. Morgan
9. Costilla 34. Moffat
10. Crowley 35. Otero
11. Custer 36. Ouray
12. Delta 37. Park
13. Dolores 38. Phillips
14. Eagle 39. Prowers
15. Abert 40. Pueblo
16. Fremont 41. Rio Blanco
17. Garfield 42. Rio Grande
18. Gilpin 43. Routt
19. Grand 44. Saguache
20. Gunnison 45. San Juan
21. Hinsdale 46. San Miguel
22. Huerfano 47. Sedgwick
23. Jackson 48. Summit
24. Kiowa 49. Teller
LEXD00021
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CAPP 2013 Property Policy 38 of 83
25. Kit Carson 50. Washington
51. Weld
52. Yuma
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED
Auth rized resentative OR
Countersigns ti re (In states where applicable)
LEXDOCO21
LX0404 Page 2 of 2
CAPP 2013 Property Policy 39 of 83
ENDORSEMENT A
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
NAMED INSURED ENDORSEMENT
It is agreed that the Participating Member Counties named hereunder are included as Named Insureds:
1. Alamosa 26. Lake
2. Archuleta 27. La Plata
3. Baca 28. Las Animas
4. Bent 29. Lincoln
5. Chaffee 30. Logan
6. Cheyenne 31. Mineral
7. Clear Creek 32. Montrose
8. Conejos 33. Morgan
9. Costilla 34. Moffat
10. Crowley 35. Otero
11. Custer 36. Ouray
12. Delta 37. Park
13. Dolores 38. Phillips
14. Eagle 39. Prowers
15. Elbert 40. Pueblo
16, Fremont 41. Rio Blanco
17. Garfield 42. Rio Grande
18. Gilpin 43. Routt
19. Grand 44. Saguache
20. Gunnison 45. San Juan
21. Hinsdale 46. San Miguel
22. Huerfano 47. Sedgwick
LExooco2l
LX0404 Page 1 of 2
CAPP 2013 Property Policy 40 of 83
23. Jackson 48. Summit
24. Kiowa 49. Teller
25. Kit Carson 50. Washington
51. Weld
52. Yuma
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED
Authorized Representative OR
Countersignature(In states where applicable)
LEXD0CO21
LX0404 Page 2 of 2
CAPP 2013 Property Policy 41 of 83
ENDORSEMENT B
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
SOFT COSTS/ADDITIONAL EXPENSES ENDORSEMENT
In consideration of the premium charged, and subject to all terms, conditions, limitations and exclusions of
this Endorsement and of the Policy to which this Endorsement is attached, it is hereby agreed that Soft
Cost/Additional Expense coverage is added as follows:
WAITING PERIOD DEDUCTIBLE: 10 Days per occurrence. No liability shall exist unless the
DELAY exceeds the Waiting Period and then the Company's liability shall be for the amount of loss in
excess of the stated Waiting Period. The WAITING PERIOD DEDUCTIBLE runs from the date upon which,
had the loss or damage not occurred the insured project would have been completed. In the event that
DELAY in direct consequence of insured physical loss or damage results from more than one occurrence, a
separate WAITING PERIOD DEDUCTIBLE will apply for each occurrence. This deductible is in addition to
any other deductible(s) applicable to loss or damage covered by the policy to which this endorsement is
attached.
SUBLIMIT OF LIABILITY: The total sublimit of liability for which the Company shall be liable under
this endorsement in the aggregate shall not exceed $1,000,000 per occurrence per project location. This
sublimit is part of and shall not increase to Policy Limit of Liability or any other Sublimit of Liability in this
Policy.
INSURING AGREEMENT
This policy is extended to cover Soft Costs/Additional Expense on an Actual Loss Sustained basis due to
delay in completion of the insured property caused by direct physical loss or damage covered under this
policy to expenditures which would not have been incurred by the Insured if the DELAY had not occurred,
including and limited to:
(a) Interest upon money borrowed to finance the contract work;
(b) Realty taxes and ground rent;
(c) Advertising and promotions expenses;
(d) Commission expense;
(e) Architects, engineers and consultant fees;
(f) Project administration expenses;
(g) Insurance premium;
(h) Permits and fees.
DELAY is the period between the anticipated date of completion and the actual date of completion had
loss or damage as covered under this policy not occurred.
The Soft Costs coverage shall include expenses necessarily incurred to reduce loss (except
expenses incurred to extinguish fire), but not exceeding the amount by which loss otherwise
payable is reduced.
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CAPP 2013 Property Policy 42 of 83
The Soft Costs coverage provided is subject to the following additional provisions:
1. The Company shall pay Soft Costs incurred from the date that the building or structure would
have been completed had no direct physical loss or damage occurred until such time it is
completed.
2. The Company shall pay only for the time required with the exercise of due diligence and
dispatch to rebuild, repair or replace that part of the property sustaining loss commencing
with the date of such loss but not limited by the Policy expiration or termination date of this
Policy.
As soon as practical after any loss, the insured shall utilize every available means to reduce the
amount of the toss including:
a) Resumption of construction, business, business or operations completely or partially;
b) Making use of materials, equipment, supplies, or other property at the Insured's premises or
elsewhere; or
c) Making use of substitute facilities or services where practical; and such reduction will be
taken into account in arriving at the amount of such loss.
In the event the construction contract for property described herein contains a penalty clause
providing for payments to the Insured for a delay caused by the perils insured against in the
completion of the construction, any portion of such penalty inuring to the benefit of the Insured shall
be taken into consideration in the settlement of any loss under this extension.
ADDITIONAL EXCLUSIONS AND LIMITATIONS
The Company shall not be liable for any increase in DELAY caused by or resulting from:
1. The enforcement of any ordinance or law regulating construction, rebuilding, repair, replacement,
removal or reconstruction of the work;
2. The interference by strikers or other persons with the transportation of property, the construction,
rebuilding, repairing or replacing of property insured hereunder or the occupancy and use of the
premises;
3. Any consequential loss;
4. Loss or damage to property not covered by this policy;
5. Non-availability of funds other than insurance reimbursements;
6. Import, export or customs restrictions and/or regulations;
7. Alterations, additions, improvements or other changes made in the designs, plans, specifications or
other contract documents for the work which are required to effect the repair or replacement of the
damaged property;
8. The suspension, lapse or cancellation of or the failure to obtain, maintain or extend any permit, lease,
license, contract or purchase order commitments;
9. The failure to use due diligence and dispatch in restoring the damaged property to the condition
existing prior to the loss or damage;
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CAPP 2013 Property Policy 43 of 83
10. Any change order or other cause which results in deviation from the original progress schedule, or
revisions thereto, and which is independent of insured loss or damage which gives rise to a DELAY,
whether occurring prior to or after an insured DELAY.
GENERAL CONDITIONS
1. The Named Insured shall do and concur in doing and permit to be done all such things as may be
reasonably practicable to minimize the extent of any interference with the construction schedule so as
to avoid or diminish any DELAY resulting therefrom.
2. Upon request by the Company, the Named Insured shall make available all records and information
relevant to the determination of loss and expenses related to reducing loss.
3. It is a condition of this insurance that as soon as practical the Named Insured shall begin normal
operations.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED
• /
Authorized Representative OR
Countersignature (In states where applicable)
LEXDOC021
LX0404 Page 3 of 3
CAPP 2013 Property Policy 44 of 83
ENDORSEMENT C
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
AMENDMENT TO ENDORSEMENT PR9014
In consideration of the premium charged, it is hereby agreed that clause 2.b. of the Occurrence Limit of
Liability endorsement(Number PR9014) is deleted.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED
1pg
A tho ' . i Representative OR
Countersignature(In states where applicable)
LEXDOCO21
LX0404
CAPP 2013 Property Policy 45 of 83
ENDORSEMENT D
This endorsement, effective 12:01 AM 01/01/2013
Forms a part of policy no.: 020412751
Issued to: COLORADO COUNTIES CASUALTY AND PROPERTY POOL
By: LEXINGTON INSURANCE COMPANY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
MOLD/FUNGUS EXCLUSION WITH NAMED PERIL SUBLIMIT
In consideration of the premium charged, it is hereby understood and agreed that this policy is amended
as follows.
The Company shall not be liable for any loss or damage caused by, arising out of, contributed to, or
resulting from fungus, mold(s), mildew or yeast; or any spores or toxins created or produced by or
emanating from such fungus, mold(s), mildew or yeast;
(a) fungus includes, but is not limited to, any of the plants or organisms belonging to the major
group fungi, lacking chlorophyll, and including mold(s), rusts, mildews, smuts and mushrooms;
(b) mold(s) includes, but is not limited to, any superficial growth produced on damp or decaying
organic matter or on living organisms, and fungi that produce mold(s);
(c) spores means any dormant or reproductive body produced by or arising or emanating out of
any fungus, mold(s), mildew, plants, organisms or microorganisms,
regardless of any other cause or event that contributes concurrently or in any sequence to such loss.
This exclusion shall not apply to any loss or damage in the form of, caused by, contributed to or resulting
from fungus, mold(s), mildew or yeast, or any spores or toxins created or produced by or emanating from
such fungus, mold(s), mildew or yeast which the Insured establishes is a direct result of a Covered Loss
resulting from, or caused by, fire, lighting, explosion, windstorm or hail, smoke (excluding agricultural
smudging and industrial operations), aircraft or vehicles, riot or civil commotion, vandalism, sprinkler
leakage, collapse, volcanic action and not otherwise excluded by the Policy, provided that such fungus,
mold(s), mildew or yeast loss or damage is reported to the Company within twelve months from the
expiration date of the Policy.
The Company shall not be liable under this endorsement for more than $25,000 in any one occurrence.
This Sublimit is within, and does not increase, the Policy Limit of Liability or any other Sublimit stated in
the policy form or any endorsements thereto.
All other terms, conditions, definitions, exclusions, limitations and visi> y remain the
same.
Au • ized Representative OR
Countersignature (In states where applicable)
LX9512 NPS(09/11)
CAPP 2013 Property Policy 46 of 83
^fin DECLARATIONS
H I SCOX HISCOX INSURANCE COMPANY INC. (A Stock Company)
233 North Michigan Ave., Suite 1840 CHICAGO. Illinois, 60601
(914) 273-7400
Policy Number: UC21191167.13
Broker No.: US 0001197 Broker Name: Arthur J Gallagher Risk Management Services
Policy No.: UC21191167.13 Broker Address: 6399 S Fiddlers Green Cir Ste 200
Greenwood Village. Colorado 80111-4974
Renewal of: UC21191167.12
Commercial Crime Insurance Policy
Named Insured: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI
E9622)
Mailing Address: c o County Technical Services, Inc.
800 Grant St Ste 400
Denver. Colorado 80203-2944
Policy Period: 0170172013 to 01/01/.2014
12:01 A.M. at Your mailing address shown above
Limit of Insurance Deductible Amount
Insuring Agreements (Per Occurrence) (Per Occurrence)
Coverage A: Fidelity
(1) Employee Theft $ 1,000.000 $ 150,000
(2) ERISA (Limit Applies Per Plan) Not Covered N/A
(3) Clients' Property Not Covered NiA
(4) Vendor Theft Not Covered NIA
Coverage B: Forgery or Alteration
(1) Checks $ 1.000.000 $ 150.000
(2) Credit. Debit or Charge Cards $ 1,000.000 $ 150,000
(3) Personal Accounts Not Covered N/A
Coverage C: Inside and Outside the Premises
(1) Inside the Premises $ 1,000.000 $ 150.000
(2) Outside the Premises $ 1,000.000 $ 150.000
Coverage D: Computer and Funds Transfer Fraud
(1) Computer Fraud $ 1,000,000 $ 150.000
(2) Funds Transfer Fraud $ 1,000.000 $ 150.000
Coverage E: Money Orders and Counterfeit Money $ 1,000.000 $ 150.000
Coverage F: Telephone Toll Fraud $250,000 $ 150.000
Coverage G: Identity Fraud Expense Not Covered N/A
Coverage H: Virus and Licensing Violations
(1) Virus Restoration $250,000 $ 150,000
(2) Licensing Violation Fines and Penalties $250,000 $ 150,000
Coverage I: Expense $50.000 N/A
Telephone (914)273-7400 Facsimile (914)273-4716 www.hiscoxusa.com Email hiscox.usa@hiscox.com (Page 1)
CAPP 2013 Property Policy 47 of 83
^fin DECLARATIONS
H I SCOX HISCOX INSURANCE COMPANY INC. (A Stock Company)
233 North Michigan Ave., Suite 1840 CHICAGO. Illinois, 60601
(914) 273-7400
Policy Number: UC21191167.13
Coverage is provided only if an amount is shown opposite an Insuring Agreement. If the amount is left blank or"Not
Covered" is inserted, such Insuring Agreement and any other reference thereto in this policy is deleted.
Endorsements Forming Part Of This Policy When Issued:
(1) E9603.1. Cancellation Amended
(2) E9606.1. Crime Elite Endorsement
(3) E9611.1. Government Conversion (with Faithful Performance)
(4) E9622.1. Named Insured Added
(5) E9625.1. Persons or Classes of Persons Included (with Sublimit)
(6) E9704.1. Colorado
Cancellation Of Prior Insurance Issued By Us:
By acceptance of this Policy you give us notice cancelling prior policy Nos.
NIA :the cancellation to be effective at the time this Policy becomes effective.
Total Premium: $36,312.00
Notice of Claim to: Hiscox
Attn: Crime & Fidelity Claims Dept.
520 Madison Avenue, 32nd Floor New York, NY 10022
Email - d&oclaims@hiscox.com
Fax-212-922-9652
IN WITNESS WHEREOF. the Insurer indicated above has caused this Policy to be signed by its President and Secretary. but this
Policy shall not be effective unless also signed by our duly authorized representative.
eiie—
President
Secretary
Authorized Representative
11/30:2012
Date
Telephone (914)273-7400 Facsimile (914)273-4716 www.hiscoxusa.com Email hiscox.usa@hiscox.com (Page 2)
CAPP 2013 Property Policy 48 of 83
.$,
HISCOX
Endorsement 1
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9603.1 Cancellation Amended Page 1 of 1
This endorsement modifies insurance provided under the CRIME INSURANCE Policy Form
whether written as a standalone policy or as a module attached to another policy.
SCHEDULE
Number of Days: 90
Paragraph (ii) of the Cancellation Condition is replaced by the following:
(ii)We may cancel this policy by mailing or delivering to the first Named Insured written notice of
cancellation at least:
(1) 15 days before the effective date of cancellation if We cancel for non-payment of
premium; or
(2) the Number of Days shown in the Schedule before the effective date of cancellation if We
cancel for any other reason.
All other terms and conditions remain unchanged.
CRI E9603 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 1 Processed Date:12/19/2012
fir/
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 49 of 83
HISCOX
Endorsement 2
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9606.1 Crime Elite Endorsement Page 1 of 2
This endorsement modifies insurance provided under the CRIME INSURANCE Policy Form
whether written as a standalone policy or as a module attached to another policy.
1. Paragraph (i) of the Extended Period To Discover Loss Condition is replaced by the following:
(i) No later than 120 days from the date of that cancellation. However, this extended period to
Discover loss terminates immediately upon the effective date of any other insurance obtained
by You, whether or not such other insurance provides coverage for loss sustained prior to its
effective date.
2. Paragraph (iv)(1) of the Joint Insured Condition is replaced by the following:
(1) No later than 120 days from the date of that cancellation. However, this extended period to
Discover loss terminates immediately upon the effective date of any other insurance
obtained by that insured. whether from Us or another insurer, replacing in whole or in part
the coverage afforded under this Policy, whether or not such other insurance provides
coverage for loss sustained prior to its effective date.
3. The definition of You or Your is amended to include any joint venture in which You have a
controlling ownership interest. However, the most We will pay is the lower of the Limit of Insurance
applicable to the loss or Your equity interest.
4. The Acts of Employees Learned of By You Prior to the Policy Period Exclusion is replaced with the
following:
Acts of Employees Learned of by You Prior to the Policy Period
Loss caused by an Employee if the Employee had also committed Theft. Forgery or any other
dishonest act prior to the effective date of this Policy and You or any Executive Employee not in
collusion with the Employee, learned of that Theft, Forgery or dishonest act prior to the Policy
Period shown in the Declarations.
However, this provision shall not apply if the Theft, Forgery or other dishonest act occurred prior
to the Employee becoming Your Employee and the amount of such act did not exceed $25.000.
5. In paragraph I. Insuring Agreements, the Condition applicable to Coverage A and all subparts is
replaced with the following:
The following Condition applies to Coverage A and all subparts:
(i) However. all subparts of Coverage A terminate as to any Employee as soon You or an
Executive Employee not in collusion with the Employee learns of Theft. Forgery or any
other dishonest act committed by the Employee:
(1) after becoming employed by You:or
(2) if such Theft. Forgery or dishonest act exceeded $25.000, before becoming
employed by You.
All other terms and conditions remain unchanged.
CRI E9777 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
CAPP 2013 Property Policy 50 of 83
HISCOX
Endorsement 2
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9606.1 Crime Elite Endorsement Page 2 of 2
6. Paragraph (i)(1) of the definition of Employee is deleted in its entirety and replaced with the
following:
(1) while in Your service and for the first 90 days immediately after termination of service.
unless such termination is due to Theft. Forgery or any other dishonest act committed by
the Employee:
7. The definition of Employee is amended to include any natural person independent contractor
whom You have the right to direct and control while performing acts within the usual duties of an
Employee.
All other terms and conditions remain unchanged.
CRI E9606 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 2 Processed Date:12/19/2012
/71
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 51 of 83
HISCOX
Endorsement 3
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9611.1 Government Conversion (with Faithful Performance) Page 1 of 2
This endorsement modifies insurance provided under the CRIME INSURANCE Policy Form
whether written as a standalone policy or as a module attached to another policy.
SCHEDULE
Faithful Performance of Duty Limit of Insurance: $1,000,000
1. In paragraph I. Insuring Agreements. the following is added to Coverage A(1) Employee Theft:
We will pay for loss of or damage to Money, Securities, and/or Other Property resulting directly
from the failure of any Employee to faithfully perform his or her duties as prescribed by law, when
such failure has as its direct and immediate result a loss of Your covered properly. The most We
will pay for loss arising out of any one Occurrence is the Limit of Insurance shown in the
Schedule. That Limit is part of, not in addition to. the Limit of Insurance shown in the Declarations.
2. The following is added to the Transfer of Your Rights of Recovery Against Others to Us Condition:
In the event of a loss covered under paragraph 1. above. We shall not pursue our right of recovery
against the Employee who failed to faithfully perform his or her duties as long as such failure does
not involve a theft or other dishonest act.
3. The following additional exclusions are added:
FP-O. Loss resulting from the failure of any entity acting as a depository for Your property or
properly for which You are responsible.
FP-P. Damages for which You are legally liable as a result of:
(i) The deprivation or violation of the civil rights of any person by an Employee: or
(ii) The tortious conduct of an Employee, except the conversion of property of other
parties held by You in any capacity.
4. The following additional Condition is added to Coverage A:
The following Condition applies to Coverage A and all subparts:
We will indemnify any of your officials who are required by law to give bonds for the faithful
performance of their duties against loss through the failure of any Employee under the supervision
of that official to faithfully perform his or her duties as prescribed by law, when such failure has as
its direct and immediate result a loss of your covered properly.
5. The coverage provided by this endorsement does not apply to Coverage A(2) ERISA.
6. In paragraph I. Insuring Agreements. the Condition applicable to Coverage A and all subparts is
amended such that a "Theft. Forgery. or any other dishonest act" shall include an act which would
be covered under Coverage A. as amended by this endorsement.
All other terms and conditions remain unchanged.
CRI E9777 CW (06/10) Includes copyrighted material of Insurance Services Offices, Inc..with its permission.
CAPP 2013 Property Policy 52 of 83
HISCOX
Endorsement 3
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9611.1 Government Conversion (with Faithful Performance) Page 2 of 2
7. Throughout the policy any references to partners. Managers or Members, are deleted in their
entirety.
8. The Consolidation - Merger or Acquisition Condition and any references to merged, consolidated
or acquired entities throughout the policy are deleted in their entirety.
9. The definition of Subsidiary is amended to read as follows:
Subsidiary means any agency. authority or district (including Special Districts) which is governed
directly by the governing body of any insured listed on the Declarations or by endorsement.
All other terms and conditions remain unchanged.
CRI E9611 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 3 Processed Date:12/19/2012
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 53 of 83
HISCOX
Endorsement 4
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9622.1 Named Insured Added Page 1 of 2
SCHEDULE
Retroactive Date: N/A
Additional Named Insured Limit of Insurance Deductible Amount
(per occurrence) (per occurrence)
Alamosa County N/A N/A
Archuleta County N/A N/A
Baca County N/A N/A
Bent County N/A N/A
Chaffee County N/A N/A
Cheyenne County N/A N/A
Clear Creek County N/A N/A
Conejos County N/A N/A
Costilla County N/A N/A
Crowley County N/A N/A
Custer County N/A N/A
Delta County N/A N/A
Dolores County N/A N/A
Eagle County N/A N/A
Elbert County N/A N/A
Fremont County N/A N/A
Garfield County N/A N/A
Gilpin County N/A N/A
Grand County N/A N/A
Gunnison County N/A N/A
Hinsdale County N/A N/A
Huerfano County N/A N/A
Jackson County N/A N/A
Kiowa County N/A N/A
Kit Carson County N/A N/A
La Plata County N/A N/A
Lake County N/A N/A
Las Animas County N/A N/A
Lincoln County N/A N/A
Logan County N/A N/A
Mineral County N/A N/A
Moffat County N/A N/A
Montrose County N/A N/A
Morgan County N/A N/A
Otero County N/A N/A
Ouray County N/A N/A
Park County N/A N/A
Phillips County N/A N/A
Prowers County N/A N/A
Pueblo County N/A N/A
All other terms and conditions remain unchanged.
CRI E9622 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
CAPP 2013 Property Policy 54 of 83
HISCOX
Endorsement 4
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9622.1 Named Insured Added Page 2 of 2
Rio Blanco County N/A N/A
Rio Grande County N/A N/A
Routt County N/A N/A
Saguache County N/A N/A
San Juan County N/A N/A
San Miguel County N/A N/A
Sedgwick County N/A N/A
Summit County N/A N/A
Teller County N/A N/A
Washington County N/A N/A
Weld County N/A N/A
Yuma County N/A N/A
1. The Additional Named Insured(s) shown in the Schedule are added as Named Insured. If a Limit
of Insurance or Deductible Amount is applicable to the Additional Named Insured, the Limit of
Insurance and Deductible Amount for all Insuring Agreements for which a Limit of Insurance is
shown in the Declarations is changed to the Limit of Insurance and Deductible Amount shown in
the Schedule.
2. If a Retroactive Date is shown in the Schedule. this addition applies only to loss or damage that
You sustain resulting directly from an Occurrence taking place in its entirety after the Retroactive
Date shown in the Schedule which is Discovered by You or an Executive Employee on or after
the Endorsement Effective date and before the end of the Policy Period shown in the Declarations
or the period of time provided in the Extended Period To Discover Loss Condition. The definition
of Occurrence is amended with respect to the Additional Named Insured(s) to apply only to acts
committed or events occurring after the Retroactive Date shown in the Schedule.
All other terms and conditions remain unchanged.
CRI E9622 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc.. with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 4 Processed Date:12/19/2012
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 55 of 83
HISCOX
Endorsement 5
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9625.1 Persons or Classes of Persons Included (with Sublimit) Page 1 of 1
SCHEDULE
Persons Or Classes Of Persons Sublimit of Insurance for
Coverages A(1) and A(3)
Elected or Appointed Officials N/A
1. The definition of Employee is amended to include any natural person or group of persons
described in the Schedule.
2. If a Sublimit of Insurance is indicated in the Schedule, the most We will pay under this insurance
for loss caused by any natural person or group of persons described in the Schedule is the
Sublimit of Insurance indicated. That Sublimit of Insurance will be part of, not in addition to. the
Limit of Insurance shown in the Declarations as applicable to Coverage A(1) Employee Theft and
A(3) Clients' Property.
All other terms and conditions remain unchanged.
CRI E9625 CW (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 5 Processed Date:12/19/2012
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 56 of 83
HISCOX
Endorsement 6
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9704.1 Colorado Amendatory Endorsement Page 1 of 2
This endorsement modifies insurance provided under the CRIME INSURANCE Policy Form
whether written as a standalone policy or as a module attached to another policy.
In consideration of the premium charged, it is understood and agreed that the policy is modified as
follows:
1. In the CONDITIONS Clause. paragraph (H) of B. Cancellation is replaced by the following:
(ii) If this policy has been in effect for less than 60 days, We may cancel this policy by mailing
or delivering to the first Named Insured written notice of cancellation at least:
a. 10 days before the effective date of cancellation if We cancel for nonpayment of
premium; or
b. 30 days before the effective date of cancellation if We cancel for any other reason.
2. In the CONDITIONS Clause, the following is added to B. Cancellation:
(vii) Cancellation Of Policies In Effect For 60 Days Or More
a. If this policy has been in effect for 60 days or more. or is a renewal of a policy We
issued, We may cancel this policy by mailing through first-class mail to the first Named
Insured written notice of cancellation:
(1) Including the actual reason. at least 10 days before the effective date of
cancellation, if We cancel for nonpayment of premium; or
(2) At least 45 days before the effective date of cancellation if we cancel for any other
reason.
We may only cancel this policy based on one or more of the following reasons:
(1) Nonpayment of premium;
(2) A false statement knowingly made by the Insured on the application for
insurance; or
(3) A substantial change in the exposure or risk other than that indicated in the
application and underwritten as of the effective date of the policy unless the first
Named Insured has notified us of the change and We accept such change.
(viii) Nonrenewal
If We decide not to renew this policy, We will mail through first-class mail to the first
Named Insured shown in the Declarations written notice of the nonrenewal at least 45
days before the expiration date, or its anniversary date if it is a policy written for a term of
more than one year or with no fixed expiration date.
If notice is mailed, proof of mailing will be sufficient proof of notice.
(ix) Increase In Premium Or Decrease In Coverage
We will not increase the premium unilaterally or decrease the coverage benefits on
renewal of this policy unless We mail written notice of our intention, including the actual
reason. to the first Named Insured's last mailing address known to Us, at least 45 days
before the effective date.
Any decrease in coverage during the policy term must be based on one or more of the
following reasons:
a. Nonpayment of premium;
b. A false statement knowingly made by the insured on the application for insurance; or
CAPP 2013 Property Policy 57 of 83
HISCOX
Endorsement 6
NAMED INSURED: Members of the Colorado Counties Casualty and Property Pool (see endorsement CRI E9622)
E9704.1 Colorado Amendatory Endorsement Page 2 of 2
c. A substantial change in the exposure or risk other than that indicated in the application
and underwritten as of the effective date of the policy unless the first Named Insured
has notified Us of the change and We accept such change.
If notice is mailed. proof of mailing will be sufficient proof of notice.
3. In the CONDITIONS Clause. the following condition is added:
LP. Loss Payment
(i) We will give You notice of our intentions within 60 days after We receive the sworn proof
of loss: and
We will pay for covered loss or damage within 60 days after we receive the sworn proof of
loss, if You have complied with all the terms of this policy and:
a. We will have reached agreement with You on the amount of loss: or
b. An appraisal award has been made.
All other terms and conditions remain unchanged.
CRI E9704 CO (06/10) Includes copyrighted material of Insurance Services Offices. Inc..with its permission.
Endorsement effective: 01/01/2013 Policy No.: UC21191167.13
Endorsement No: 6 Processed Date:12/19/2012
Ligmligitc)
By : Carl Bach
(Appointed Representative)
CAPP 2013 Property Policy 58 of 83
HISCOX
Crime Insurance
Policy Form
Various provisions in this policy restrict coverage. Read the entire policy
carefully to determine rights, duties and what is or is not covered. Those words
(other than the words in the captions)which are printed in Boldface are defined
in the Policy.
In return for the payment of premium, subject to all the terms and conditions of this
policy. and in reliance upon the statements made by You in the Application, which
forms a part of this Policy. We agree with You to provide the insurance as stated in this
policy:
I. Insuring Agreements Coverage is provided under the following Insuring Agreements for which a Limit of
Insurance is shown in the Declarations and applies to loss that You sustain resulting
directly from an Occurrence taking place at any time which is Discovered by You or
an Executive Employee during the Policy Period shown in the Declarations or during
the period of time provided in the Extended Period To Discover Loss Condition:
Coverage A: Fidelity
(1) Employee Theft
We will pay for loss of or damage to Money. Securities and Other Property resulting
directly from Theft and/or Forgery committed by an Employee. whether identified or
not. acting alone or in collusion with other persons.
(2) ERISA
We will pay, directly to an Employee Benefit Plan, for loss of or damage to Money,
Securities and Other Property resulting directly from fraudulent or dishonest acts
committed by a Fiduciary of any Employee Benefit Plan. whether identified or not.
acting alone or in collusion with other persons.
The Limit of Insurance shown in the Declarations for Coverage A(2) ERISA shall apply
to each and every Employee Benefit Plan sustaining such loss or damage. In the
event of an Occurrence involving both Coverage A(1) Employee Theft and Coverage
A(2) ERISA. the Limit of Insurance shown in the Declarations for Coverage A(2) shall
be in addition to the Limit of Insurance shown for Coverage A(1) Employee Theft.
If the Limit of Insurance for Coverage A(2) ERISA no longer complies with the
minimum amount of coverage required for such Employee Benefit Plan(s) under
ERISA (unless the Limit of Insurance no longer complies due to investment in non-
qualified assets). but which would have complied at the time the Policy was issued, We
agree to increase the Coverage A(2) ERISA Limit of Insurance with regard to such
Employee Benefit Plan(s) so as to equal the minimum amount of coverage required
under ERISA.
The Deductible Amount does not apply to Coverage A(2) ERISA.
(3) Clients' Property
We will pay for loss of or damage to Money. Securities and Other Property sustained
Includes copyrighted material of Insurance Services Offices. Inc.. with its permission.
Page 1 of 24
CRI Pool Cw o6IC
CAPP 2013 Property Policy 59 of 83
HISCOX
Crime Insurance
Policy Form
by Your Client resulting directly from Theft and/or Forgery committed by an identified
Employee. acting alone or in collusion with other persons, including an Employee in
collusion with an Employee of Your Client.
(4) Vendor Theft
We will pay for loss of or damage to Money. Securities and Other Property resulting
directly from Theft committed by an identified Employee of Your Vendor (other than
one with an ownership interest of greater than 25% in the Vendor) acting alone or in
collusion with other persons.
This coverage shall only apply to the amount of loss You cannot recover under the
contract with the Vendor and from any insurance or indemnity carried by, or for the
benefit of the Vendor or customers of the Vendor.
The Limit of Insurance shown for Coverage A(4) Vendor Theft shall be part of, not in
addition to, the Limit of Insurance shown for Coverage A(1) Employee Theft.
The following Condition applies to Coverage A and all subparts:
(i) All subparts of Coverage A terminate as to any Employee as soon as an
Executive Employee not in collusion with the Employee learns of Theft.
Forgery or any other dishonest act committed by the Employee:
(1) after becoming employed by You: or
(2) if such Theft. Forgery or dishonest act exceeded $10.000. before
becoming employed by You.
Coverage B: Forgery or Alteration
(1) Checks
We will pay for loss resulting directly from Forgery or alteration of checks. drafts.
promissory notes. convenience checks. HELOC checks, or similar written promises.
orders or directions to pay a sum certain in Money that are:
(i) Made or drawn by or drawn upon You: or
(ii) Made or drawn by one acting as Your agent;
or that are purported to have been so made or drawn.
(2) Credit. Debit or Charge Cards
We will pay for loss resulting directly from Forgery or alteration of written instruments
required in conjunction with any credit, debit, convenience, stored-value or charge card
issued to You or any Employee for business purposes as long as You or the
Employee have complied fully with the provisions, conditions or other terms under
which the credit, debit, convenience, stored-value or charge card was issued.
(3) Personal Accounts
We will pay for loss resulting directly from Forgery or alteration of checks. drafts.
promissory notes. convenience checks. HELOC checks. or similar written promises.
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orders or directions to pay a sum certain in Money that are made or drawn by or drawn
upon a personal account of an Executive Employee or that are purported to have
been so made or drawn.
The following Conditions apply to Coverage B and all subparts:
(i) A substitute check as defined in the Check Clearing for the 21st Century Act
shall be treated the same as the original it replaced;
(ii) Signatures that are produced or reproduced electronically. mechanically or by
other means shall be treated the same as handwritten signatures:
(iii) You must include with Your proof of loss any instrument involved in that loss,
or. if that is not possible. an affidavit setting forth the amount and cause of
loss;
(iv) If You are sued for refusing to pay any instrument covered above on the
basis that it has been forged or altered, and You have Our written consent to
defend against the suit. We will pay for any reasonable legal expenses that
You incur and pay in that defence. The amount that We will pay is in addition
to the Limit of Insurance applicable to this Insuring Agreement. The
Deductible Amount does not apply to legal expenses paid under this
paragraph.
Coverage C: Inside and Outside the Premises
(1) Inside the Premises
(i) We will pay for loss of Money and Securities inside the Premises or
Banking Premises:
(1) resulting directly from Theft committed by a person present inside such
Premises or Banking Premises: or
(2) resulting directly from disappearance or destruction.
(ii) We will pay for loss of or damage to Other Property:
(1) inside the Premises resulting directly from an actual or attempted
Robbery of a Custodian: or
(2) inside the Premises in a safe or vault resulting directly from an actual or
attempted Safe Burglary.
(iii) We will pay for loss from damage to the Premises or its exterior resulting
directly from an act covered by paragraph (i) or (h) if You are the owner of the
Premises or are liable for damage to it.
(iv) We will pay for loss of or damage to a locked safe, vault, cash register, cash
box or cash drawer located inside the Premises resulting directly from an
actual or attempted Theft of or unlawful entry into those containers.
(2) Outside the Premises
(i) We will pay for loss of Money and Securities outside the Premises in the
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care and custody of a Messenger or an armored motor vehicle company
resulting directly from Theft. disappearance or destruction
(H) We will pay for loss of or damage to Other Property outside the Premises in
the care and custody of a Messenger or an armored motor vehicle company
resulting directly from an actual or attempted Robbery.
The following Condition applies to Coverage C and all subparts:
We will only pay:
(i) for the amount of loss You cannot recover under Your contract with the
armored motor vehicle company and from any insurance or indemnity carried
by. or for the benefit of customers of. the armored motor vehicle company.
(ii) up to $10.000 for any one Occurrence of loss of or damage to:
(1) precious metals, precious or semi-precious stones, pearls, furs or
completed or partially completed articles made of or containing such
materials that constitute the principal value of such articles.
(2) Manuscripts, drawings, or records of any kind. or the cost of
reconstructing them or reproducing any information contained in them.
Coverage D: Computer and Funds Transfer Fraud
(1) Computer Fraud
We will pay for loss of or damage to Money. Securities and/or Other Property
resulting directly from the use of any computer to fraudulently cause a transfer of that
property from inside the Premises or Banking Premises:
(i) to a person (other than a Messenger) outside those Premises or Banking
Premises: or
(ii) to a place outside those Premises or Banking Premises.
We will only pay up to $10.000 for any one Occurrence of loss of or damage to
manuscripts, drawings, or records of any kind. or the cost of reconstructing them or
reproducing any information contained in them.
(2) Funds Transfer Fraud
We will pay for loss of Money and Securities resulting directly from a Fraudulent
Instruction directing a financial institution to transfer. pay or deliver Money and
Securities from Your Transfer Account.
Coverage E: Money Orders and Counterfeit Money
We will pay for loss resulting directly from Your having accepted in good faith, in
exchange for merchandise, Money or services:
(i) money orders issued by any post office, express company or bank that are
not paid upon presentation; or
(ii) Counterfeit Money that is acquired during the regular course of business.
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Coverage F: Telephone Toll Fraud
We will pay for loss from long distance telephone charges incurred by You resulting
directly from fraudulent use or fraudulent manipulation of an Account Code or
System Password required to gain access into Your Voice Computer System,
provided such loss did not result from the failure to:
(i) install and maintain in operating condition a call disconnect feature to
terminate a caller's access after three unsuccessful attempts to enter an
Account Code:
(ii) incorporate a System Password: or
(iii) change a System Password every 60 days.
We will only pay for loss resulting from toll call charges made on telephone lines
directly controlled by one Voice Computer System occurring for a period of not more
than 30 days inclusive of the date on which the first such toll call charges were made.
Coverage G: Identity Fraud Expense
We will pay for Identity Fraud Expenses incurred by You or any Executive
Employee resulting directly from Identity Fraud.
Coverage H: Virus and Licensing Violations
(1) Virus Restoration
We will pay for costs that You incur to restore or replace damaged or destroyed
Electronic Data or Computer Programs stored within Your Computer System
resulting directly from:
(i) a virus directed solely against You designed to damage or destroy
Electronic Data or Computer Programs and introduced maliciously by a
natural person; or
(ii) vandalism by a person who has gained unauthorized access to Your
Computer System;
including reasonable costs that You incur to restore Your Computer System to the
level of operational capability that existed before the virus or vandalism occurred.
(2) Licensing Violation Fines and Penalties
We will pay for fines and penalties that You incur resulting directly from the
unauthorized reproduction of computer software by an Employee, in violation of a
licensing agreement with a third party vendor, provided the unauthorized reproduction
is done:
(i) without Your or an Executive Employee's knowledge:
(ii) without the knowledge of any other person having responsibility for
compliance with the terms of the software licensing agreement;
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and You are legally liable for the loss.
Coverage I: Expense
We will reimburse You for reasonable costs, fees or other expenses that You incur
and pay to an independent accounting. auditing or other service (which is not a
Client) used to determine the existence or amount of loss covered under this
insurance with Our prior written consent.
Any expense payable to You is only applicable to a covered loss which exceeds the
Deductible Amount subject to such covered loss.
Any expense payable to You is part of, not in addition to. the Limit of Insurance
subject to such covered loss.
II. Definitions A. Account Code means a confidential and protected string of characters that
identifies or authenticates a person and permits that person to gain access to
Your Voice Computer System for the purpose of making long distance toll calls
or utilizing voice mail box messaging capabilities or similar functional features of
the system.
B. Banking Premises means the interior of that portion of any building occupied by
a financial institution or similar safe depository including a night depository chute,
ATM machine owned by such financial institution (wherever located) or safe of
such institution.
C. Client means any entity to which You provide goods or services under a written
agreement.
D. Computer Programs means a set of related electronic instructions which direct
the operations and functions of a computer or devices connected to it which
enable the computer or devices to receive, process. store. retrieve or send
Electronic Data.
E. Computer System means:
(i) computers and related peripheral components:
(ii) systems and applications software:
(iii) terminal devices; and
(iv) related communications networks;
by which Electronic Data is received, processed, stored, retrieved or sent.
F. Counterfeit Money means an imitation of Money that is intended to deceive and
to be taken as genuine.
G. Custodian means You, or any of Your partners or Members, or any Employee
while having care and custody of property inside the Premises, excluding any
person while acting as a Watchperson or janitor unless such person is also an
Employee.
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H. Discover or Discovered means the time when You or an Executive Employee
first becomes aware of facts which would cause a reasonable person to assume
that a loss of a type covered by this Policy has been or will be incurred.
regardless of when the act or acts causing or contributing to such loss occurred.
even though the exact amount or details of loss may not then be known.
Discover or Discovered also means the time when You or an Executive
Employee first receive notice of an actual or potential claim in which it is alleged
that You are liable to a third party under circumstances which, if true, would
constitute a loss under this Policy.
I. Electronic Data means information, facts or computer programs stored as or on.
created or used on, or transmitted to or from computer software (including
systems and applications software). on hard or floppy disks, CD-ROMs, DVDs,
Blu-ray Discs, flash drives, tapes. drives. cells, data processing devices or any
other repositories of computer software which are used with electronically
controlled equipment.
J. Employee means any:
(i) natural person:
(1) while in Your service and for the first 60 days immediately after
termination of service. unless such termination is due to Theft, Forgery
or any other dishonest act committed by the Employee:
(2) who You compensate directly by salary, wages or commissions; and
(3) who You have the right to direct and control while performing services
for You;
(ii) temporary Employee;
(iii) natural person who is leased to You:
(iv) natural person who is a former Employee, partner. Member. Manager,
director or trustee retained as a consultant while performing services for You:
(v) natural person who is a guest student or intern:
(vi) of Your Managers, directors or trustees while performing acts within the
usual duties of an Employee;
(vii) non-compensated officer:
(viii)volunteer;
(ix) committee member,.
(x) Employee on military. disability. family medical or similar leave; and
(xi) Fiduciary, but only as respects Coverage A(2) ERISA;
Employee does not mean any agent (regardless of whether or not there is a
written agreement as specified in the definition of Vendor), broker, factor,
commission merchant, consignee. independent contractor or representative or
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person of the same general character not specified above.
K. Employee Benefit Plan means any welfare or pension benefit plan that is
sponsored by You whether or not such plan is subject to the Employee
Retirement Income Security Act of 1974 (ERISA) and any amendments thereto.
L. Executive Employee means Your proprietor. natural person partner, member of
the board of directors. member of the board of trustees. Member, Manager.
officer and any Employee in a risk management, general counsel, insurance or
human resources department or function.
(i) Solely with respect to Coverage A(2) ERISA, Executive Employee shall also
include a Fiduciary.
(ii) Solely with respect to Coverage G Identity Fraud Expense, Executive
Employee shall also include any spouse, child under the age of 18 or relative
living in the household of any Executive Employee.
M. Fiduciary means any natural person who is a trustee, officer, Employee.
administrator or manager. except an administrator or manager who is an
independent contractor of any Employee Benefit Plan; and a director or trustee
of Yours while that person is engaged in handling Money. Securities or Other
Property of any Employee Benefit Plan.
N. Forgery means the signing of the name of another person or organization with
the intent to deceive: it does not mean a signature which consists in whole or in
part of one's own name signed with or without authority. in any capacity. for any
purpose.
O. Fraudulent Instruction means
(i) an electronic, telegraphic. cable. teletype. telefacsimile or telephone
instruction which purports to have been transmitted by You. but which was in
fact fraudulently transmitted by someone else without Your knowledge or
consent:
(ii) a written instruction (other than those described in Coverage B) issued by
You. which was forged or altered by someone other than You without Your
knowledge or consent, or which purports to have been issued by You, but
was in fact fraudulently issued without Your knowledge or consent: or
(iii) an electronic, telegraphic. cable. teletype. telefacsimile, telephone or written
instruction initially received by You which purports to have been transmitted
by an Employee but which was in fact fraudulently transmitted by someone
else without Your or the Employee's knowledge or consent.
P. Identity Fraud means the act of knowingly transferring or using. without lawful
authority, a means of identification of Your business or any covered individual
with the intent to commit, or to aid or abet another to commit, any unlawful activity
that constitutes a violation of federal law or a felony under any applicable state or
local law.
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O. Identity Fraud Expenses means:
(i) advertising and public relations expenses incurred by You to restore Your
business reputation as a result of an Identity Fraud:
(ii) costs incurred by You or any covered individual for notarizing affidavits or
similar documents attesting to fraud required by financial institutions or
similar credit grantors or credit agencies;
(iii) costs incurred by You or any covered individual for certified mail to law
enforcement agencies. credit agencies. financial institutions or similar credit
grantors;
(iv) costs incurred by You or any covered individual for obtaining credit reports;
(v) lost income incurred by You or any covered individual resulting from time
taken off work to complete fraud affidavits. meet with or talk to law
enforcement agencies. credit agencies and/or legal counsel. up to a
maximum payment of$250 per day. Total payment for lost income is not to
exceed $10,000 or the Limit of Insurance shown in the Declarations,
whichever is less;
(vi) loan application fees. incurred by You or any covered individual for
reapplying for a loan when the original application is rejected solely because
the lender received incorrect credit information:
(vii) reasonable attorney fees to:
(1) defend lawsuits brought against You by merchants. vendors.
suppliers, financial institutions or their collection agencies:
(2) remove any criminal or civil judgements wrongly entered against You;
and
(3) challenge the accuracy or completeness of any information in a
consumer credit report for You;
(viii)charges incurred by You or any covered individual for long distance
telephone calls to merchants, vendors. suppliers, customers, law
enforcement agencies. financial institutions or similar credit grantors. or credit
agencies to report or discuss an actual Identity Fraud; and any other
reasonable expenses incurred by You or any covered individual with Our
written consent.
R. Manager means a person serving in a directorial capacity for a limited liability
company.
S. Member means an owner of a limited liability company represented by its
membership interest, who also may serve as a Manager.
T. Messenger means You, or a relative of Yours, or any of Your partners or
Members. or any Employee while having care and custody of property outside
the Premises.
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U. Money means:
(i) currency, coins, and bank notes in current use anywhere in the world and
having a face value:
(ii) bullion: and
(iii) traveller's checks, register checks and money orders held for sale to the
public.
V. Occurrence means:
(i) Under Coverage A Fidelity and H(2) Fines and Penalties:
(1) an individual act:
(2) the combined total of all separate acts whether or not related: or
(3) a series of acts whether or not related;
committed by an Employee. Fiduciary or Vendor Employee acting alone or
in collusion with other persons, during the Policy Period shown in the
Declarations. before such Policy Period or both.
(ii) Under Coverage B Forgery or Alteration:
(1) an individual act;
(2) the combined total of all separate acts whether or not related: or
(3) a series of acts whether or not related;
committed by a person acting alone or in collusion with other persons.
involving one or more instruments, during the Policy Period shown in the
Declarations, before such Policy Period or both.
(iii) Under Coverage H(1) Virus Restoration paragraph (i): As respects a virus. all
covered costs incurred by You between the time the damage or destruction is
Discovered and the time Your Computer System is restored to the level of
operational capability that existed before the virus occurred. Recurrence of
the same virus after Your Computer System has been restored shall
constitute a separate occurrence.
(iv) Under all other coverages:
(1) an individual act or event:
(2) the combined total of all separate acts or events whether or not related;
or
(3) a series of acts or events whether or not related;
committed by a person acting alone or in collusion with other persons. or not
committed by any person, during the Policy Period shown in the Declarations,
before such Policy Period or both.
W. Other Property means any tangible property other than Money and Securities
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that has intrinsic value. Other Property does not include Computer Programs.
Electronic Data or any property specifically excluded under this Policy.
X. Premises means the interior of that portion of any building You occupy in
conducting Your business.
Y. Robbery means the unlawful taking of property from the care and custody of a
person by one who has:
(i) caused or threatened to cause that person bodily harm: or
(ii) committed an obviously unlawful act witnessed by that person.
Z. Safe Burglary means the unlawful taking of:
(i) Property from within a locked safe or vault by a person unlawfully entering the
safe or vault as evidenced by marks of forcible entry upon its exterior: or
(ii) A safe or vault from inside the Premises.
AA.Securities means negotiable or nonnegotiable instruments or contracts
representing either Money or property and includes:
(i) tokens, tickets. revenue and other stamps (whether represented by actual
stamps or unused value in a meter) in current use;
(ii) casino chips issued by You: and
(iii) evidences of debt issued in connection with credit or charge cards. which
cards are not issued by You;
but does not include Money.
BB.Subsidiary means any corporation or limited liability company in which, on or
prior to the effective date of this policy, You own or control directly. or through
one or more Subsidiaries. more than fifty percent (50%) of the outstanding
securities or voting rights representing the right to elect or appoint such entity's
board of directors, board of trustees. board of managers or a functional
equivalent.
CC.System Administration means the performance of any security function
including, but not limited to:
(i) defining authorized persons to access the system;
(6) adding. deleting or changing Account Codes or passwords:
(iii) installing or deleting any system option which directs telephone call routing or
adds, drops or moves telephone lines: or
(iv) any other activity allowed by a hardware or software-based system option
that has been incorporated by a manufacturer or a vendor into a Voice
Computer System provided the system is not intended for the sole use of
the manufacturer or vendor.
DD.System Maintenance means performing hardware and software installation,
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diagnostic and correction and similar activities that are performed in the usual
custom and practice by a manufacturer or vendor to establish or maintain the
basic operational functionality of a Voice Computer System.
EE.System Password means a confidential and protected string of characters that
identifies or authenticates a person and permits that person to gain access to
Your Voice Computer System to perform System Administration or System
Maintenance or a component thereof.
FF. Theft means the unlawful taking of property to the deprivation of the Insured.
Solely with respect to Coverage A(3) Clients' Property, Theft shall mean the
unlawful taking of property to the deprivation of a Client.
GG. Transfer Account means an account maintained by You at a financial
institution from which You can initiate the transfer, payment or delivery of Money
or Securities:
(i) by means of electronic, telegraphic, cable. teletype. telefacsimile or telephone
instructions communicated directly through an electronic funds transfer
system: or
(ii) by means or written instructions (other than those described in Coverage B)
establishing the conditions under which such transfers are to be initiated by
such financial institution through an electronic funds transfer system.
HH.Vendor means an entity that provides a service to You under a written
agreement which includes a requirement to provide Crime or Fidelity insurance
covering Your properly in the care. custody and control of the Vendor and/or its
Employees for a limit equal to or greater than that shown in the Declarations of
this Policy under Coverage A(1) Employee Theft. If such agreement is not valid
or collectable then this Policy will respond only to that portion of loss which would
have been excess of such requirement.
However. Vendor does not include any financial institution, asset manager.
broker. dealer or armored motor vehicle company.
II. Voice Computer System means a computer system installed in one location
which functions as a private branch exchange (PBX), voice mail processor,
automated call attendant or provides a similar capability used for the direction or
routing of telephone calls in a voice communications network.
JJ. Watchperson means any person retained by You specifically to have care and
custody of property inside the Premises and who has no other duties. However.
Watchperson does not include an Employee.
KK.We. Us or Our means the insurance company shown in the Declarations.
LL. You or Your means:
(i) the Named Insured shown in the Declarations:
(ii) any Subsidiary thereof; and
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(iii) solely with respect to Coverage A(2) ERISA, any Employee Benefit Plan.
Ill. Exclusions This Policy does not cover:
A. Acts Committed by You, Your Partners or Your Members
Loss resulting from Theft or any other dishonest act committed by:
(i) You; or
(ii) any of Your partners or Members:
whether acting alone or in collusion with other persons.
B. Acts of Employees Learned of by You Prior to the Policy Period
Loss caused by an Employee if the Employee had also committed Theft,
Forgery or any other dishonest act prior to the effective date of this Policy and
You or an Executive Employee not in collusion with the Employee, learned of
that Theft, Forgery or dishonest act prior to the Policy Period shown in the
Declarations.
However. this provision shall not apply if the Theft. Forgery or other dishonest
act occurred prior to the Employee becoming Your Employee and the amount
of such act did not exceed $10.000.
C. Acts of Employees, Managers, Directors, Trustees or Representatives
Loss resulting from Theft. Forgery or any other dishonest act committed by any
of Your Employees. Managers. directors, trustees or authorized
representatives:
(i) whether acting alone or in collusion with other persons; or
(ii) while performing services for You or otherwise;
except when covered under Coverage A Fidelity and H Virus and Licensing
Violations.
D. Confidential Information
Loss resulting from:
(i) the unauthorized disclosure of Your confidential information including, but not
limited to. patents, trade secrets, processing methods or customer lists; or
(ii) the unauthorized use or disclosure of confidential information of another
person or entity which is held by You including, but not limited to, financial
information, personal information. credit card information or similar non-public
information.
E. Governmental Action
Loss resulting from seizure or destruction of property by order of governmental
authority.
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F. Indirect Loss
Loss that is an indirect result of an Occurrence covered by this Policy including.
but not limited to, loss resulting from:
(i) Your inability to realize income that You would have realized had there been
no loss of or damage to Money. Securities or Other Property.
(ii) payment of damages of any type for which You are legally liable. But. We
will pay compensatory damages arising directly from a loss covered under
this Policy.
(iii) payment of costs. fees or other expenses You incur in establishing the
existence or the amount of loss under this Policy except when covered under
Coverage I Expense.
G. Legal Fees, Costs and Expenses
Fees, costs and expenses incurred by You which are related to any legal action,
except when covered under Coverage B Forgery or Alteration or Coverage G
Identity Fraud Expense.
H. Nuclear Hazard
Loss or damage resulting from nuclear reaction or radiation, or radioactive
contamination, however caused.
I. War or Military Action
Loss or damage resulting from:
(i) war. including undeclared or civil war:
(ii) warlike action by a military force. including action in hindering or defending
against an actual or expected attack, by any government, sovereign or other
authority using military personnel or other agents; or
(iii) insurrection, rebellion. revolution, usurped power. or action taken by
governmental authority in hindering or defending against any of these.
Coverage A Fidelity does not cover:
J. Inventory Shortages
Loss. or that part of any loss. the proof of which as to its existence or amount is
dependent upon:
(i) an inventory computation: or
(ii) a profit and loss computation.
However. where You establish wholly apart from such computations that You
have sustained a loss, then You may offer Your inventory records and actual
physical count of inventory in support of the amount of loss claimed.
K. Trading
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Loss resulting from trading, whether in Your name or in a genuine or fictitious
account. Provided, however, that this exclusion shall not apply to direct losses
caused by Theft and/or Forgery which result in improper financial gain to an
Employee (direct losses as used herein shall mean only the amount of improper
financial gain to such Employee, which shall not include salary. commissions,
fees or other compensation. including, but not limited to promotions and raises
associated with employment. paid by You to such Employee).
Coverage C Inside and Outside the Premises does not cover:
L. Accounting or Arithmetical Errors or Omissions
Loss resulting from accounting or arithmetical errors or omissions.
M. Exchanges or Purchases
Loss resulting from the giving or surrendering of property in any exchange or
purchase.
N. Fire
Loss or damage resulting from fire, however caused. except:
(i) Loss of or damage to Money and Securities; and
(ii) Loss from damage to a safe or vault.
O. Kidnap, Ransom and Extortion
Loss of Money. Securities or Other Property resulting directly or indirectly from
kidnap. extortion or ransom payments surrendered to any person as a result of a
threat, including, but not limited to a threat of bodily harm, property damage,
denial of service. virus or other malicious instruction, product contamination
and/or dissemination of confidential information.
P. Money Operated Devices
Loss of property contained in any money operated device unless the amount of
Money deposited in it is recorded by a continuous recording instrument in the
device.
Q. Motor Vehicles or Equipment and Accessories
Loss of or damage to motor vehicles. trailers or semi-trailers or equipment and
accessories attached to them.
R. Vandalism
Loss from damage to the Premises or its exterior, or to any safe, vault, cash
register. cash box, cash drawer or Other Property by vandalism or malicious
mischief.
S. Voluntary Parting of Title to or Possession of Property
Loss resulting from Your, or anyone acting on Your express or implied authority.
being induced by any dishonest act to voluntarily part with title to or possession
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of any property.
Coverage D Computer and Funds Transfer Fraud does not cover:
T. Credit Card Transactions
Loss resulting from the use or purported use of credit. debit. charge. access,
convenience, identification, stored-value or other cards or the information
contained on such cards.
U. Inventory Shortages
Loss, or that part of any loss, the proof of which as to its existence or amount is
dependent upon:
(i) an inventory computation; or
(H) a profit and loss computation.
However. where You establish wholly apart from such computations that You
have sustained a loss, then You may offer Your inventory records and actual
physical count of inventory in support of the amount of loss claimed.
Coverage H Virus and Licensing Violations does not cover:
V. Errors or Omissions
Loss resulting from errors or omissions in the design. programming or processing
of Computer Programs or Electronic Data.
W. Fraudulent Preparation or Input
Loss resulting from the fraudulent preparation or input of Electronic Data or
Computer Programs.
IV. Limit of Insurance The most We will pay for all loss resulting directly from an Occurrence is the
applicable Limit of Insurance shown in the Declarations.
If any loss is covered under more than one Coverage, the most We will pay for such
loss shall not exceed the largest Limit of Insurance available under any one of those
Coverages. However, this provision does not apply to Coverage A(2) ERISA.
V. Deductible We will not pay for loss resulting directly from an Occurrence unless the amount of
loss exceeds the Deductible Amount shown in the Declarations. We will then pay the
amount of loss in excess of the Deductible Amount, up to the Limit of Insurance.
VI. Conditions Conditions applicable to all Coverages:
A. Additional Premises or Employees
If, while this Policy is in force. You establish any additional Premises or hire
additional Employees, other than through consolidation or merger with, or
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purchase or acquisition of assets or liabilities of. another entity. such Premises
and Employees shall automatically be covered under this Policy. Notice to Us of
an increase in the number of Premises or Employees need not be given and no
additional premium need be paid for the remainder of the Policy Period shown in
the Declarations.
B. Cancellation
(i) The first Named Insured shown in the Declarations may cancel this policy by
mailing or delivering to Us advance written notice of cancellation.
(ii) We may cancel this policy by mailing or delivering to the first Named Insured
written notice of cancellation at least:
(1) 15 days before the effective date of cancellation if We cancel for non-
payment of premium: or
(2) 60 days before the effective date of cancellation if We cancel for any
other reason.
(iii) We will mail or deliver Our notice to the first Named Insured's last mailing
address known to Us.
(iv) Notice of cancellation will state the effective date of cancellation. The Policy
Period will end on that date.
(v) If this policy is cancelled. We will send the first Named Insured any premium
refund due. If We cancel. the refund will be pro rata. If the first Named
Insured cancels. the refund may be less than pro rata. The cancellation will
be effective even if We have not made or offered a refund.
(vi) If notice is mailed, proof of mailing will be sufficient proof of notice.
C. Changes
This Policy contains all the agreements between You and Us concerning the
insurance afforded. The First Named Insured shown in the Declarations is
authorized to make changes in the terms of this Policy with Our consent. This
Policy's terms can be amended or waived only by endorsement issued by Us and
made a part of this Policy.
D. Concealment, Misrepresentation or Fraud
This Policy is void in any case of fraud by You as it relates to this Policy at any
time. It is also void if You, at any time. intentionally conceal or misrepresent a
material fact concerning:
(i) this Policy:
(ii) the property covered under this Policy:
(iii) Your interest in the property covered under this Policy: or
(iv) a claim under this Policy.
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E. Consolidation— Merger or Acquisition
(i) Except as provided in Paragraph (ii), if You consolidate or merge with. or
purchase or acquire the assets or liabilities of, another entity:
(1) You must give Us written notice as soon as possible and obtain Our
written consent to extend the coverage provided by this Policy to such
consolidated or merged entity or such purchased or acquired assets or
liabilities. We may condition Our consent by requiring payment of an
additional premium: but
(2) For the first 90 days after the effective date of such consolidation.
merger or purchase or acquisition of assets or liabilities. the coverage
provided by this Policy shall apply to such consolidated or merged entity
or such purchased or acquired assets or liabilities, provided that all
Occurrences causing or contributing to a loss involving such
consolidation, merger or purchase or acquisition of assets or liabilities.
must take place after the effective date of such consolidation, merger or
purchase or acquisition of assets or liabilities.
(ii) For entities You acquire in which You own greater than fifty percent (50%) of
the voting stock or voting rights. coverage under this Policy shall
automatically become effective on the date of such acquisition with no
additional premium required, provided:
(1) All Occurrences causing or contributing to a loss involving the acquired
entity must take place after the effective date of such acquisition; and
(2) The assets of the acquired entity do not exceed thirty five percent (35%)
of Your total assets as reflected in Your most recent calendar quarter
consolidated financial statements immediately preceding the effective
date of the Policy.
F. Cooperation
You must cooperate with Us in all matters pertaining to this Policy as stated in its
terms and conditions.
G. Duties in the Event of Loss
After You or an Executive Employee Discovers a loss or a situation that may
result in loss of or damage to Money, Securities or Other Property that. in Your
best estimate. exceeds 50% of the Deductible Amount shown in the Declarations,
You must:
(i) notify Us as soon as practicable and in no event later than 90 days after
Discovery. If You have reason to believe that any loss (except for loss
covered under Coverage A Fidelity) involves a violation of law, You must also
notify the local law enforcement authorities.
(ii) submit to examination under oath at Our request and give Us a signed
statement of Your answers.
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(iii) produce for Our examination all pertinent records.
(iv) give Us a detailed. sworn proof of loss within 120 days.
(v) cooperate with Us in the investigation and settlement of any claim.
You must send Us, within 60 days after Our request. receipts, bills or other
records that support any claim for Identity Fraud Expenses covered under
Coverage G Identity Fraud Expense.
H. Examination of Your Books and Records
We may examine and audit Your books and records as they relate to this Policy
at any time during the Policy Period shown in the Declarations and up to 3 years
afterward.
I. Extended Period to Discover Loss
We will pay for loss You sustained prior to the effective date of cancellation of
this Policy. which is Discovered by You or an Executive Employee:
(i) No later than 60 days from the date of that cancellation. However, this
extended period to Discover loss terminates immediately upon the effective
date of any other insurance obtained by You, whether or not such other
insurance provides coverage for loss sustained prior to its effective date.
(ii) No later than 1 year from the date of that cancellation with regard to any
Employee Benefit Plans under Coverage A(2) ERISA.
J. Inspections and Surveys
(i) We have the right to:
(1) Make inspections and surveys at any time:
(2) Give You reports on the conditions We find: and
(3) Recommend changes.
(H) We are not obligated to make any inspections, surveys. reports or
recommendations and any such actions We do undertake relate only to
insurability and the premiums to be charged. We do not make safety
inspections. We do not undertake to perform the duty of any person or
organization to provide for the health or safety of workers or the public. And
We do not warrant that conditions:
(1) Are safe or healthful; or
(2) Comply with laws, regulations. codes or standards.
(iii) This condition applies not only to Us. but also to any rating, advisory. rate
service or similar organization which makes insurance inspections. surveys.
reports or recommendations.
K. Joint Insured
(i) The first Named Insured will act for itself and for every other Insured for all
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purposes of this Policy. If the first Named Insured ceases to be covered, then
the largest Subsidiary. by asset size. will become the first Named Insured.
(ii) If any Insured. or partner, Member or officer of that Insured has knowledge of
any information relevant to this Policy. that knowledge is considered
knowledge of every Insured.
(iii) An Employee of any Insured is considered an Employee of every Insured.
(iv) If this Policy or any of its coverages is cancelled as to any Insured, loss
sustained by that Insured is covered only if it is Discovered by You or an
Executive Employee:
(1) No later than 60 days from the date of that cancellation. However, this
extended period to Discover loss terminates immediately upon the
effective date of any other insurance obtained by that Insured, whether
from Us or another insurer, replacing in whole or in part the coverage
afforded under this Policy, whether or not such other insurance provides
coverage for loss sustained prior to its effective date.
(2) No later than 1 year from the date of that cancellation with regard to any
Employee Benefit Plan(s) covered under Coverage A(2) ERISA.
(v) We will not pay more for loss sustained by more than one Insured than the
amount We would pay if all such loss had been sustained by one Insured
except as provided in Coverage A(2) ERISA.
(vi) Payment by Us to the first Named Insured for loss sustained by any Insured.
other than an Employee Benefit Plan. shall fully release Us on account of
such loss. Payment by Us to any Employee Benefit Plan(s) for loss
sustained by any Employee Benefit Plan(s), shall fully release Us on
account of such loss.
L. Legal Action Against Us
You may not bring any legal action against Us involving loss:
(i) unless You have complied with all the terms of this Policy:
(ii) until 90 days after You have filed proof of loss with Us: and
(iii) unless brought within 2 years from the date You or an Executive Employee
Discovered the loss.
If any limitation in this Condition is prohibited by law. such limitation is amended
so as to equal the minimum period of limitation provided by such law.
M. Liberalization
If We adopt any revision that would broaden the coverage under this Policy
without additional premium within 45 days prior to or during the Policy Period
shown in the Declarations, the broadened coverage will immediately apply to this
Policy.
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N. Other Insurance
If other valid and collectible insurance is available to You for loss covered under
this policy, We will only pay for the amount of loss that exceeds the Limit of
Insurance and Deductible Amount of that other insurance, whether You can
collect on it or not. Our payment for loss is subject to the terms and conditions of
this Policy.
However, if loss covered under this policy is subject to a Deductible. We will
reduce the Deductible Amount shown in the Declarations by the sum total of all
such other insurance plus any Deductible Amount applicable to that other
insurance.
O. Ownership of Property; Interests Covered
With respect to Coverage A(1) Employee Theft and A(4) Vendor Theft, the
property covered under this Policy is limited to property that You own or lease;
With respect to Coverage A(3) Clients' Property, the property covered under this
Policy is limited to property:
(i) that Your Client owns or leases; or
(ii) that Your Client holds for others whether or not Your Client is legally liable
for the loss of such property.
With respect to all other coverages. the property covered under this Policy is
limited to property:
(i) that You own or lease: or
(ii) that You hold for others whether or not You are legally liable for the loss of
such property.
However. this Policy is for Your benefit only. It provides no rights or benefits to
any other person or organization. Any claim for loss that is covered under this
Policy must be presented by You.
P. Policy Bridge— Discovery Replacing Loss Sustained
If this Policy replaces insurance that provided You with an extended period of
time after cancellation in which to discover loss and which did not terminate at
the time this Policy became effective:
(i) We will not pay for any loss that occurred during the Policy Period of that prior
insurance which is Discovered by You or an Executive Employee during
the extended period to Discover loss. unless the amount of loss exceeds the
Limit of Insurance and Deductible Amount of that prior insurance. In that
case, We will pay for the excess loss subject to the terms and conditions of
this Policy.
(ii) However, any payment We make for the excess loss will not be greater than
the difference between the Limit of Insurance and Deductible Amount of that
prior insurance and the Limit of Insurance shown in the Declarations. We will
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not apply the Deductible Amount shown in the Declarations to this excess
loss.
Q. Premiums
The first Named Insured shown in the Declarations:
(i) is responsible for the payment of all premiums: and
(ii) will be the payee for any return premiums We pay.
R. Records
You must keep records of all property covered under this Policy so that We can
verify the amount of any loss.
S. Recoveries
(i) Any recoveries. whether effected before or after any payment under this
Policy, whether made by Us or You. shall be applied net of the expense of
such recovery:
(1) First. to You in satisfaction of Your covered loss in excess of the amount
paid under this Policy;
(2) Second. to Us in satisfaction of amounts paid in settlement of Your
claim;
(3) Third. to You in satisfaction of any Deductible Amount; and
(4) Fourth. to You in satisfaction of any loss not covered under this Policy.
(ii) Recoveries do not include any recovery:
(1) From insurance. suretyship. reinsurance, security or indemnity taken for
Our benefit; or
(2) Of original Securities after duplicates of them have been issued.
T. Territory
Where legally permissible.this Policy covers loss that You sustain resulting
directly from an Occurrence taking place anywhere in the world.
U. Transfer of Your Rights and Duties Under This Policy
Your rights and duties under this Policy may not be transferred without Our
written consent except in the case of death of an individual Named Insured.
If You die. Your rights and duties will be transferred to Your legal representative
but only while acting within the scope of duties as Your legal representative.
Until Your legal representative is appointed, anyone having proper temporary
custody of Your property will have Your rights and duties but only with respect to
that property.
V. Transfer of Your Rights of Recovery Against Others to Us
You must transfer to Us all Your rights of recovery against any person or
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organization for any loss You sustain and for which We have paid or settled.
You must also do everything necessary to secure those rights and do nothing
after loss to impair them.
W. Valuation—Settlement
(i) The value of any loss for purposes of coverage under this Policy shall be
determined as follows:
(1) Loss of Money but only up to and including its face value. We will, at
Your option, pay for loss of Money issued by any country other than the
United States of America:
(i) At face value in the Money issued by that country: or
(ii) In the United States of America dollar equivalent determined by the
rate of exchange published in The Wall Street Journal on the day the
loss was Discovered.
(2) Loss of Securities but only up to and including their face value at the
close of business on the day the loss was Discovered. At Our option.
We may:
(i) Pay the market 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 those Securities: or
(ii) Pay the cost of any Lost Securities Bond required in connection with
issuing duplicates of the Securities. However. We will be liable only
for the payment of so much of the cost of the bond as would be
charged for a bond having a penalty not exceeding the lesser of the:
a. market value of the Securities at the close of business on the
day the loss was Discovered: or
b. the Limit of Insurance applicable to the Securities.
(3) Loss of or damage to Other Property or loss from damage to the
Premises or its exterior for the replacement cost of the property without
deduction for depreciation. However, We will not pay more than the
least of the following:
(1) The cost to replace the lost or damaged property with property of
comparable material and quality and used for the same purpose;
(ii) The amount You actually spend that is necessary to repair or replace
the lost or damaged property: or
(Hi) The Limit of Insurance applicable to the lost or damaged property.
With regard to paragraph (i) through (iii) above, We will not pay on a
replacement cost basis for any loss or damage:
a. Until the lost or damaged property is actually repaired or
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replaced; and
b. Unless the repairs or replacement are made as soon as
reasonably possible after the loss or damage.
If the lost or damaged property is not repaired or replaced. We will
pay on an actual cash value basis.
(ii) We will, at Our option, settle loss or damage to property other than Money:
(1) In the Money of the country in which the loss or damage occurred; or
(2) In the United States of America dollar equivalent of the Money of the
country in which the loss or damage occurred determined by the rate of
exchange published in The Wall Street Journal on the day the loss was
Discovered.
(iii) Any property that We pay for or replaces becomes Our property.
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HISCOX ECONOMIC AND TRADE SANCTIONS POLICYHOLDER
NOTICE
Hiscox is committed to complying with the U.S. Department of Treasury Office of Foreign Assets Control (OFAC)
requirements. OFAC administers and enforces economic sanctions policy based on Presidential declarations of
national emergency. OFAC has identified and listed numerous foreign agents, front organizations, terrorists, and
narcotics traffickers as Specially Designated Nationals (SDN's) and Blocked Persons. OFAC has also identified
Sanctioned Countries. A list of Specially Designated Nationals, Blocked Persons and Sanctioned Countries may be
found on the United States Treasurys web site http: www.t^oas.gov offices enforcement ofac
Economic sanctions prohibit all United States citizens (including corporations and other entities) and permanent
resident aliens from engaging in transactions with Specially Designated Nationals, Blocked Persons and Sanctioned
Countries. Hiscox may not accept premium from or issue a policy to insure property of or make a claim payment to a
Specially Designated National or Blocked Person. Hiscox may not engage in business transactions with a Sanctioned
Country.
A Specially Designated National or Blocked Person is any person who is determined as such by the Secretary of
Treasury.
A Sanctioned Country is any country that is the subject of trade or economic embargoes imposed by the laws or
regulations of the United States.
In accordance with laws and regulations of the United States concerning economic and trade embargoes, this policy
may be rendered void from its inception with respect to any term or condition of this policy that violates any laws or
regulations of the United States concerning economic and trade embargoes including, but not limited to the following:
(1) Any insured under this Policy, or any person or entity claiming the benefits of such insured, who is or becomes
a Specially Designated National or Blocked Person or who is otherwise subject to US economic trade
sanctions;
(2) Any claim or suit that is brought in a Sanctioned Country or by a Sanctioned Country government, where any
action in connection with such claim or suit is prohibited by US economic or trade sanctions;
(3) Any claim or suit that is brought by any Specially Designated National or Blocked Person or any person or
entity who is otherwise subject to US economic or trade sanctions;
(4) Property that is located in a Sanctioned Country or that is owned by. rented to or in the care, custody or control
of a Sanctioned Country government, where any activities related to such property are prohibited by US
economic or trade sanctions; or
(5) Property that is owned by, rented to or in the care, custody or control of a Specially Designated National or
Blocked Person. or any person or entity who is otherwise subject to US economic or trade sanctions.
Please read your Policy carefully and discuss with your broker/agent or insurance professional. You may also visit the
US Treasury's website at http. vww.trens.gov offices enforcement ofac
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