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<br />FLORIDA MUNICIPAL INSURANCE TRUST <br /> <br />COVERAGE PROPOSAL <br /> <br />FOR <br /> <br />CITY OF SUNNY ISLES BEACH <br /> <br />PROPOSED EFFECTIVE DATE: October 1, 2008 <br /> <br />ADMINISTERED AND PREPARED BY: <br /> <br />PUBLIC RISK SERVICES <br /> <br />OF THE <br /> <br />FLORIDA LEAGUE OF CITIES, INC. <br />P.O. BOX 530065 <br /> <br />ORLANDO, FL 32853-0065 <br /> <br />September 10, 2008 <br /> <br />"The Florida Municipal Insurance Trust Guarantee" <br />The FMITwill match any competitor's pricing for similar exposures, coverages, terms and conditions contingent 011 the <br />ability of the competitor to verify that their rates are established by an independent actuary and that their reinsurance <br />structure is currently in place. The competitor's reinsurer must have an AM Best rating of an A X or better. <br /> <br />A specimen agreement is attached. This proposal contains a brief, general description of coverages. It is not <br />intended to describe or cover all the terms, limits, conditions and exclusions of the agreement. <br /> <br />The FMIT agreement language will supersede any differences between the agreement and this proposal <br />summary. <br /> <br />Exhibit "A" <br />