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<br /> <br />To protect members of the fund from large losses and to protect the financial security of <br />the fund I the PGIT board of trustees has elected to purchase an extremely conservative <br />excess of loss insurance structure. We stress PGIT excess of loss structure because an <br />excess structure provides PGIT members several levels of protection that reinsurance <br />does not. <br /> <br />Foremost among these is the fact that PGIT's excess of loss policies list every individual <br />member a named insured, giving every member direct access to the insurance <br />company for payment of claims. Reinsurers are only responsible to the trust itself. <br />Therefore, if a trust became financially troubled, there is no guarantee from an <br />insurance company that any individual claim will be paid or even that a reimbursement <br />will go towards the originating claim. <br /> <br />PGIT is a non-assessable Trust authorized under Florida Statute and is not rated by AM <br />Best. PGIT is not protected by the Florida Guarantee Association in the event it <br />becomes unable to meet its claims payment obligations. PGIT members are not <br />constrained by notice requirements or punitive run-off claims costs to exit. PGIT is a <br />non-admitted pool in the state of Florida. <br /> <br />Public Risk Underwriters (PRU) <br /> <br />Public Risk Underwriters, as part of Brown & Brown, is one of the premier insurance <br />service organizations for public entities in the United States. Our exclusive focus and in- <br />depth understanding of the unique risk exposures and operating environment of the <br />public sector allows us to tailor customized products and services to meet our clients' <br />needs. <br /> <br />Preferred Governmental Claims Solutions (PGCS) <br /> <br />PGCS is dedicated to exclusively serving Florida governmental agencies. PGCS <br />administers and closely controls all claims from start to finish. This team of full-time, <br />licensed adjusters understands federal laws and state statutes governing actions <br />against public entities. A toll-free telephone number is provided to facilitate reporting of <br />claims <br /> <br />Brown & Brow~ of Florida, Inc. <br />