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EAST END REALTY PARTNERS, LP (2)
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EAST END REALTY PARTNERS, LP (2)
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Last modified
3/2/2021 9:52:23 AM
Creation date
11/2/2020 9:18:58 AM
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Contracts
Company Name
EAST END REALTY PARTNERS, LP
Contract #
A-2018-140
Agency
Community Development
Council Approval Date
6/5/2018
Expiration Date
6/5/2028
Insurance Exp Date
3/1/2021
Destruction Year
2033
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Allianz ili <br />Disclosure of Premium and Estimated Premium for Certified Acts of <br />Terrorism Coverage; Cap on Insurer Participation in Payment of Terrorism <br />Losses (Pursuant to Terrorism Risk Insurance Act) <br />178587 01 15 <br />Policy Amendment - Umbrella Policy - Excess Liability Policy <br />This Endorsement is attached to and made part of your policy in response to the disclosure requirements <br />of the Terrorism Risk Insurance Act. <br />A. Disclosure of Premium <br />In accordance with the federal Terrorism Risk Insurance Act, as amended, we are required to provide you with a <br />notice disclosing the portion of your premium, if any, attributable to coverage for terrorist acts certified under the <br />Terrorism Risk Insurance Act, as amended ("certified acts of terrorism"). The portion of your premium attributable <br />to such coverage is shown in the policy Declarations. This premium is based on the rates in effect at the time of <br />policy issuance or policy anniversary and was calculated for the full term of the current policy period. <br />B. Disclosure of Federal Participation in Payment of Terrorism Losses <br />The United States Government, Department of the Treasury, will pay a share of terrorism losses insured under <br />the federal program. The federal share equals 85% through 2015; 84% beginning on January 1, 2016; 83% <br />beginning on January 1, 2017; 82% beginning on January 1 2018; 81 % beginning on January 1, 2019 and 80% <br />beginning on January 1, 2020 of that portion of the amount of such insured losses that exceeds the applicable <br />insurer retention. However, if aggregate insured losses attributable to terrorist acts certified under the Terrorism <br />Risk Insurance Act, as amended, exceed $100 billion in a calendar year, the Treasury shall not make any payment <br />for any portion of the amount of such losses that exceed $100 billion. <br />C. Cap on Insurer Participation in Payment of Terrorism Losses <br />If aggregate insured losses attributable to terrorist acts certified under the Terrorism Risk Insurance Act, as <br />amended, exceed $100 billion in a calendar year and we have met our insurer deductible under the Terrorism <br />Risk Insurance Act, as amended, then we shall not be liable for the payment of any portion of the amount of <br />such losses that exceeds $100 billion, and in such case insured losses up to that amount are subject to pro rata <br />allocation in accordance with procedures established by the Secretary of the Treasury. <br />D. Possibility of Additional or Return Premium <br />The premium for "certified acts of terrorism" coverage is calculated based in part on the federal participation <br />in payment of terrorism losses as set forth in the Terrorism Risk Insurance Act, as amended. If the federal <br />program terminates or if the level or terms of federal participation change, the premium charge for "certified acts <br />of terrorism" as shown in the Declarations of this policy may also change. If this policy contains a Conditional <br />Exclusion, continuation of coverage for "certified acts of terrorism," or termination of such coverage, will be <br />determined upon disposition of the federal program, subject to the terms and conditions of the Conditional <br />Exclusion. If this policy does not contain a Conditional Exclusion, coverage for "certified acts of terrorism" will <br />continue. In either case, when disposition of the federal program is determined, we will recalculate the premium <br />charge made for those acts of terrorism covered by the Terrorism Risk Insurance Act, as amended, that remain <br />covered bythis policy afterthe disposition of the federal program. We will calculate the premium charge as follows: <br />1. We will calculate the pro -rated premium shown in the Declarations for "certified acts of terrorism" from the <br />effective date of your policy to the date of expiration or change of the federal program. <br />2. We will calculate the pro -rated premium charge for acts of terrorism that remain covered for the policy period <br />that remains in effect from the expiration or change of the federal Program to the anniversary or expiration <br />date of your policy. <br />3. We will add the amount determined in D.I. above to the amount determined in D.2. above. Such premium <br />will be your revised annual premium for coverage for acts of terrorism. <br />17868701 1s <br />Copy,igM® 2015 Milan, Global Risks US Insurance Company. Ni righls reserved. <br />Includes copyrighted material of Insurance Services Office, Inc., with its permission. <br />Itlele A1vugenlenL Diriebn <br />s RnnE &APPRcvm By. <br />�' R1sk Management Malyet <br />
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