Reso 2009-1472 - Laserfiche WebLink

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IMPORTANT NOTE This quote covers two (2) annual twelve month periods, from 10/01/2009 12:00:00 AM to 10/01/2010 12:00:00 AM and from 10/01/2010 12:00:00 AM to 10/01/2011 12:00:00 AM. The following conditions apply in addition to all other conditions of this quote: A. All Aggregate limits reset for the period 10/01/2010 12:00:00 AM to 10/01/2011 12:00:00 AM. Losses applying to the annual period from 10/01/2009 12:00:00 AM to 10/01/2010 12:00:00 AM will erode the Aggregate(s) for the first annual period, but will not erode the Aggregate(s) for the period from 10/01/201012:00:00 AM to 10/01/2011 12:00:00 AM. B. The premium for the period 10/01/2010 12:00:00 AM to 10/01/2011 12:00:00 AM will be determined based on updated exposure values for this period. C. Rates for the period 10/01/2010 12:00:00 AM to 10/01/2011 12:00:00 AM will be identical to those for the period commencing 10/01/2009 12:00:00 AM, subject to the following: 1. If PGIT's cost of securing excess insurance decreases by more than 10% on any line of coverage, PGIT will reduce rates on that line of coverage for the period 10/01/2010 12:00:00 AM to 10/01/201112:00:00AM. 2. If PGIT's cost of securing excess insurance increases by more than 20% on any line of coverage, PGIT will increase rates on that line of coverage for the period 10/01/2010 12:00:00 AM to 10/01/201112:00:00AM. 3. NCCI Experience modification factors will be applied as promulgated. D. In the event of cancellation of any line of business prior to 10/01/2011 12:00:00 AM, a penalty equal to 60 days premium of such line(s) of business shall become earned, any provision of the agreement to the contrary notwithstanding. 1. This penalty is earned and payable regardless of when notice of such cancellation is given, or effective date of such cancellation. 2. This penalty is waived on any line of coverage that is affected by C2 if the coverage is terminated at 10/01/2010 12:00:00 AM. Brown & Brow~ of Florida, Inc.