Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the 'Yes - Time Element ALE' box below. If your Company does not write time element ALE coverage, initial 'No - Time Element ALE' box below. MR OR Yes - Time No - Time Element ALE Element ALE FHCF-2012K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: __________________________________________ _____________________________ Date _____________________________________________________________________ United Property and Casualty Insurance Company Xxxxxx X. Xxxxxxx, Senior Vice President, Secretary, & Chief Underwriting Officer Typed/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 Signature Date FHCF-2012K ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 (Contract) between UNITED PROPERTY AND CASUALTY INSURANCE COMPANY (Company) XXXX # 00000 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2012, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT OPTIONS FOR ADDITIONAL COVERAGE PURSUANT TO SECTION 215.555(17), FLORIDA STATUTES. Pursuant to Section 215.555(17), Florida Statutes, the Temporary Increase in Coverage Limit (TICL) Options provision allows the Company to select additional FHCF reimbursement coverage above its mandatory FHCF coverage layer under the Reimbursement Contract. The optional coverage selections provided in this Addendum No. 1 expires on May 31, 2013. Coverage provided under TICL shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. Rule 19-8.010, F.A.C. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, March 1, 2012. New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, under which the Company would be eligible for reimbursements under the Contract. Any Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1.
Appears in 2 contracts
Samples: Reimbursement Contract (United Insurance Holdings Corp.), Reimbursement Contract (United Insurance Holdings Corp.)
Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., i.e. coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the '‘Yes - – Time Element ALE' ’ box below. If your Company does not write time element ALE coverage, initial '‘No - – Time Element ALE' ’ box below. MR OR Yes - Time No - – Time Element ALE No – Time Element ALE FHCF-2012K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: __________________________________________ _____________________________ Xxxx Xxxxxxxx Assistant General Counsel Date _____________________________________________________________________ FL Bar ID#0702765 United Property and Casualty Insurance Company Xxxxxx X. Xxxxxxx, Senior Vice President, Secretary, X Xxxxxx President & Chief Underwriting Officer CEO Typed/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 5/26/10 Signature Date FHCF-201224 FHCF-2010K Rule 19-8.010 F.A.C. STATE BOARD OF ADMINISTRATION OF FLORIDA 0000 XXXXXXXXX XXXXXXXXX XXXXXXXXXXX, XXXXXXX 00000 (850) 488-4406 POST OFFICE BOX 13300 32317-3300 XXXXXXX XXXXX GOVERNOR AS CHAIRMAN XXXX XXXX CHIEF FINANCIAL OFFICER AS TREASURER XXXX XxXXXXXX ATTORNEY GENERAL AS SECRETARY XXX XXXXXXXX EXECUTIVE DIRECTOR & CIO ATTENTION: THIS ADDENDUM MUST BE COMPLETED, SIGNED, AND RETURNED BY ALL COMPANIES ELIGIBLE FOR COVERAGE UNDER THIS ADDENDUM REGARDLESS OF CHOICE TO ACCEPT OR REJECT THIS OPTIONAL COVERAGE ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 2010 (Contract) between UNITED PROPERTY AND CASUALTY INSURANCE COMPANY St. Petersburg, FL (Company) XXXX NAIC # 00000 10969 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 20122010, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT OPTIONS FOR ADDITIONAL COVERAGE OPTION (up to $10 million) PURSUANT TO SECTION 215.555(17)215.555(4)(b)4., FLORIDA STATUTES. Pursuant to Section 215.555(17)215.555(4)(b)4., Florida Statutes, the Temporary Increase in Coverage Limit (TICL) Options provision allows the Company to certain Companies may select additional FHCF reimbursement coverage above its mandatory FHCF of up to $10 million dollars. The additional premium to be charged for this additional reimbursement coverage shall be 50 percent of the additional reimbursement coverage provided, which shall include one prepaid full reinstatement. The additional premium shall be due and payable in three equal installments on August 1, 2010, on October 1, 2010, and on December 1, 2010. The minimum retention level that must be retained associated with this additional coverage layer is 30 percent of the insurer’s surplus as of December 31, 2009, for each Covered Event. For an insurer which began writing property insurance in 2010 and did not have a surplus as of December 31, 2009, surplus shall be deemed to be the surplus reported to the Office of Insurance Regulation at the time the insurer received its Certificate of Authority. This coverage is designed to apply a retention that triggers coverage prior to the insurer reaching its retention under the mandatory coverage level. The SBA will determine and pay, within 30 days or as soon as practicable after receiving Proof of Loss Reports, the reimbursement amount due under this optional coverage based on losses paid by the Company. The reimbursement percentage applicable to this additional coverage shall be 100 percent, which includes reimbursement for loss adjustment expense as provided under the Reimbursement Contract. The optional Once the limit of coverage selections under this option is exhausted, the insurer’s retention under the mandatory coverage will apply. This additional reimbursement coverage shall be in addition to all other coverage provided by the SBA under the Company’s Reimbursement Contract and shall be in addition to the claims-paying capacity of the FHCF as defined in Section 215.555(4)(c)l., Florida Statutes, but only with respect to those insurers that select the additional coverage option. Coverage provided in this Addendum No. 1 expires on May 31, 2013. Coverage provided under TICL additional coverage option shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. Rule 19While this additional coverage shall not reduce, overlap, or duplicate coverage otherwise provided for in the Reimbursement Contract or offset any co-8.010payments, F.A.C. the amount of coverage selected herein is irrevocable. Any amount of additional coverage selected herein that would in effect overlap FHCF coverage otherwise provided for in the Reimbursement Contract, or any other Addenda to the Reimbursement Contract, shall be deemed by the FHCF to shift above the highest level of coverage otherwise provided by the FHCF. The claims-paying capacity with respect to all other participating insurers, including eligible Companies that do not select the additional coverage option, shall be limited to their reimbursement premium’s proportionate share of the actual claims-paying capacity as defined in Section 215.555(4)(c)l., Florida Statutes and as provided for under the terms of the Reimbursement Contract, plus any coverage provided under any other Addenda to the Reimbursement Contract. The optional coverage provided in this Addendum expires on May 31, 2011. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, March June 1, 20122010. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2010 Contract Year. Furthermore, there shall be no coverage under this Addendum for any Loss Occurrence, as defined in Article V of the Contract and under which the Company would be eligible for reimbursements under the Contract, that occurs prior to the FHCF receiving the fully executed Addendum No. 1 (original copies). New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, Occurrence under which the Company company would be eligible for reimbursements under the Contract. Any A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1.1 for the 2010 Contract Year. ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT AND ELIGIBLE FOR THIS ADDITIONAL COVERAGE MUST INDICATE BELOW THE AMOUNT OF ADDITIONAL COVERAGE SELECTED, IF ANY. 2 FHCF-2010K-1 Rule 19-8.010, F.A.C. If your Company does not wish to purchase the additional coverage under this Addendum, print “No Coverage” on the line below and initial the box. If your Company is eligible for the coverage under this Addendum and elects to purchase this coverage, indicate the amount of additional coverage up to $10 million (there is no additional coverage available in excess of $10 million) on the line below: $10 million IF THIS ADDENDUM NO. 1 IS RETURNED WITHOUT THE BLANK SPACE IMMEDIATELY ABOVE FILLED IN WITH A DOLLAR AMOUNT, IT SHALL BE DEEMED BY THE STATE BOARD OF ADMINISTRATION TO BE A CHOICE TO REJECT THE ADDITIONAL COVERAGE. United Property and Casualty Insurance Company By: Xxxxxx X Xxxxxx Pres. & CEO 5/26/10 Name/Title Date Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By:
Appears in 1 contract
Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., i.e. coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the '‘Yes - – Time Element ALE' ’ box below. If your Company does not write time element ALE coverage, initial '‘No - – Time Element ALE' ’ box below. MR OR Yes - Time No - Time Element ALE Element ALE FHCF-201222 FHCF-2008K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ Xxxxxx X. Xxxxxxxx Date 7/18/08 Executive Director & CIO Date Approved as to legality: By: __________________________________________ _____________________________ 7/16/08 Xxxxx Xxxxxxx Date _____________________________________________________________________ United General Counsel FL Bar ID#311911 Homeowners Choice Property and Casualty Insurance Company Xxxxxx X. Xxxxxxx, Senior Vice President, Secretary, & Chief Underwriting Officer TypedTyped Name/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 5/29/08 Signature Date FHCF-201223 FHCF-2008K Rule 19-8.010 F.A.C. STATE BOARD OF ADMINISTRATION OF FLORIDA CHARLIE CRlST GOVERNOR AS CHAIRMAN XXXX XXXX 0000 XXXXXXXXX XXXXXXXXX XXXXXXXXXXX, XXXXXXX 00000 (850) 488-4406 CHIEF FINANCIAL OFFICER AS TREASURER XXXX XxXXXXXX ATTORNEY GENERAL AS SECRETARY POST OFFICE BOX 13300 32317-3300 XXX XXXXXXXX INTERIM EXECUTIVE DIRECTOR ATTENTION: THIS ADDENDUM MUST BE COMPLETED, SIGNED, AND RETURNED BY ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT REGARDLESS OF CHOICE TO ACCEPT OR REJECT THIS OPTIONAL COVERAGE ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 2008 (Contract) between UNITED HOMEOWNERS CHOICE PROPERTY AND CASUALTY INSURANCE COMPANY Port St. Lucie, FL (Company) XXXX NAIC # 00000 12944 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 20122008, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT EMERGENCY OPTIONS FOR ADDITIONAL COVERAGE PURSUANT TO SECTION 215.555(17215.555(16), FLORIDA STATUTES. Pursuant to Section 215.555(17215.555(16), Florida Statutes, the Temporary Increase in Emergency Options for Additional Coverage Limit (TICLTEACO) Options provision allows the Company to select additional FHCF reimbursement coverage above below its mandatory FHCF coverage layer under the Reimbursement Contract. The optional coverage selections provided in this Addendum No. 1 expires on May 31, 20132009. Coverage provided under TICL associated with TEACO shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. Rule 19-8.010, F.A.C. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, March June 1, 20122008. New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, under which the Company would be eligible for reimbursements under the Contract. Any Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1.1 FHCF-2008K-1
Appears in 1 contract
Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the 'Yes - Time Element ALE' box below. If your Company does not write time element ALE coverage, initial 'No - Time Element ALE' box below. MR OR X Yes - Time No - Time Element ALE Element ALE FHCF-2012K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ /s/ Xxxxxx X. Xxxxxxxx Date Date: 7/8/11 Xxxxxx X. Xxxxxxxx Executive Director & CIO Approved as to legality: By: _____________________________________/s/ E. Xxxxx Xxxxxx Date: _____ _____________________________ Date _____________________________________________________________________ United Property and Casualty Insurance Company E. Xxxxx Xxxxxx Deputy General Counsel FHCF-2011K Rule 19-8.010 F.A.C. Xxxxxx X. XxxxxxxXxxxxx, Senior Vice President, Secretary, & Chief Underwriting Officer CEO Typed/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 Xxxxxx Date: 2/17/11 Signature Date FHCF-2012K ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 2011 (Contract) between UNITED PROPERTY AND CASUALTY INSURANCE COMPANY St. Petersburg, FL (Company) XXXX NAIC # 00000 10969 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2011, that this Contract shall be amended as follows: ADDITIONAL COVERAGE OPTION (up to $10 million) PURSUANT TO SECTION 215.555(4)(b)4., FLORIDA STATUTES. Pursuant to Section 215.555(4)(b)4., Florida Statutes, certain Companies may select additional FHCF reimbursement coverage of up to $10 million dollars. The additional premium to be charged for this additional reimbursement coverage shall be 50 percent of the additional reimbursement coverage provided, which shall include one prepaid full reinstatement. The additional premium shall be due and payable in three equal installments on August 1, 2011, on October 1, 2011, and on December 1, 2011. The minimum retention level that must be retained associated with this additional coverage layer is 30 percent of the insurer's surplus as of December 31, 2010, for each Covered Event. For an insurer which began writing property insurance in 2011 and did not have a surplus as of December 31, 2010, surplus shall be deemed to be the surplus reported to the Office of Insurance Regulation at the time the insurer received its Certificate of Authority. This coverage is designed Rule 19-8.010, F.A.C. to apply a retention that triggers coverage prior to the insurer reaching its retention under the mandatory coverage level. The SBA will determine and pay, within 30 days or as soon as practicable after receiving Proof of Loss Reports, the reimbursement amount due under this optional coverage based on losses paid by the Company. The reimbursement percentage applicable to this additional coverage shall be 100 percent, which includes reimbursement for loss adjustment expense as provided under the Reimbursement Contract. Once the limit of coverage under this option is exhausted, the insurer's retention under the mandatory coverage will apply. This additional reimbursement coverage shall be in addition to all other coverage provided by the SBA under the Company's Reimbursement Contract and shall be in addition to the claims-paying capacity of the FHCF as defined in Section 215.555(4)(c)1., Florida Statutes, but only with respect to those insurers that select the additional coverage option. Coverage provided in this additional coverage option shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. While this additional coverage shall not reduce, overlap, or duplicate coverage otherwise provided for in the Reimbursement Contract or offset any co-payments, the amount of coverage selected herein is irrevocable. Any amount of additional coverage selected herein that would in effect overlap FHCF coverage otherwise provided for in the Reimbursement Contract, or any other Addenda to the Reimbursement Contract, shall be deemed by the FHCF to shift above the highest level of coverage otherwise provided by the FHCF. The claims-paying capacity with respect to all other participating insurers, including eligible Companies that do not select the additional coverage option, shall be limited to their reimbursement premium's proportionate share of the actual claims-paying capacity as defined in Section 215.555(4)(c)1., Florida Statutes, and as provided for under the terms of the Reimbursement Contract, plus any coverage provided under any other Addenda to the Reimbursement Contract. The optional coverage provided in this Addendum expires on May 31, 2012. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, March 1, 2011. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2011 Contract Year. Furthermore, there shall be no coverage under this Addendum for any Loss Occurrence, as defined in Article V of the Contract and under which the Company would be eligible for reimbursements under the Contract, that occurs prior to the FHCF receiving the fully executed Addendum No. 1 (original copies). New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence under which the company would be eligible for reimbursements under the Contract. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2011 Contract Year. ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT AND ELIGIBLE FOR THIS ADDITIONAL COVERAGE MUST INDICATE BELOW THE AMOUNT OF ADDITIONAL COVERAGE SELECTED, IF ANY. Rule 19-8.010, F.A.C. If your Company does not wish to purchase the additional coverage under this Addendum, print "No Coverage" on the line below and initial the box. ________________________________ If your Company is eligible for the coverage under this Addendum and elects to purchase this coverage, indicate the amount of additional coverage up to $10 million (there is no additional coverage available in excess of $10 million) on the line below: $10 million IF THIS ADDENDUM NO. 1 IS RETURNED WITHOUT THE BLANK SPACE IMMEDIATELY ABOVE FILLED IN WITH A DOLLAR AMOUNT, IT SHALL BE DEEMED BY THE STATE BOARD OF ADMINISTRATION TO BE A CHOICE TO REJECT THE ADDITIONAL COVERAGE. /s/ Xxxxxx X. Xxxxxx United Property and Casualty Insurance Company By: Xxxxxx X. Xxxxxx, CEO Date: 2/17/11 Name/Title Date Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: /s/ Xxxxxx X. Xxxxxxxx Date: 7/8/11 Xxxxxx X. Xxxxxxxx Executive Director & CIO Approved as to legality: By: /s/ E. Xxxxx Xxxxxx Date: E. Xxxxx Xxxxxx Deputy General Counsel Rule 19-8.010, F.A.C. ADDENDUM NO. 2 to REIMBURSEMENT CONTRACT Effective: June 1, 2011 (Contract) between UNITED PROPERTY AND CASUALTY INSURANCE COMPANY St. Petersburg, FL (Company) NAIC # 10969 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2011, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT OPTIONS FOR ADDITIONAL COVERAGE PURSUANT TO SECTION 215.555(17), FLORIDA STATUTES. Pursuant to Section 215.555(17), Florida Statutes, the Temporary Increase in Coverage Limit (TICL) Options provision allows the Company to select additional FHCF reimbursement coverage above its mandatory FHCF coverage layer under the Reimbursement Contract. The optional coverage selections provided in this Addendum No. 1 2 expires on May 31, 20132012. Coverage provided under TICL shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. Rule 19-8.010, F.A.C. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 2 (two originals) no later than 5 p.m., Central Time, March 1, 20122011. New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 2 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, under which the Company would be eligible for reimbursements under the Contract. Any Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 12.
Appears in 1 contract
Samples: Reimbursement Contract (United Insurance Holdings Corp.)
Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the 'Yes - Time Element ALE' box below. If your Company does not write time element ALE coverage, initial 'No - Time Element ALE' box below. MR OR Yes - Time No - Time Element ALE Element ALE FHCF-2012K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: __________________________________________ _____________________________ Xxxx X. Xxxxxxxx Date Assistant General Counsel FL Bar ID#0702765 FHCF-2011K Rule 19-8.010 F.A.C. «Legal_Name» _____________________________________________________________________ United Property and Casualty Insurance Company Xxxxxx X. Xxxxxxx, Senior Vice President, Secretary, & Chief Underwriting Officer Typed/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 ___________________________________________ _____________________________ Signature Date FHCF-2012K ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 2011 (Contract) between UNITED PROPERTY AND CASUALTY INSURANCE COMPANY «Legal_Name» (Company) XXXX NAIC # 00000 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2011, that this Contract shall be amended as follows: ADDITIONAL COVERAGE OPTION (up to $10 million) PURSUANT TO SECTION 215.555(4)(b)4., FLORIDA STATUTES. Pursuant to Section 215.555(4)(b)4., Florida Statutes, certain Companies may select additional FHCF reimbursement coverage of up to $10 million dollars. The additional premium to be charged for this additional reimbursement coverage shall be 50 percent of the additional reimbursement coverage provided, which shall include one prepaid full reinstatement. The additional premium shall be due and payable in three equal installments on August 1, 2011, on October 1, 2011, and on December 1, 2011. The minimum retention level that must be retained associated with this additional coverage layer is 30 percent of the insurer's surplus as of December 31, 2010, for each Covered Event. For an insurer which began writing property insurance in 2011 and did not have a surplus as of December 31, 2010, surplus shall be deemed to be the surplus reported to the Office of Insurance Regulation at the time the insurer received its Certificate of Authority. This coverage is designed Rule 19-8.010, F.A.C. to apply a retention that triggers coverage prior to the insurer reaching its retention under the mandatory coverage level. The SBA will determine and pay, within 30 days or as soon as practicable after receiving Proof of Loss Reports, the reimbursement amount due under this optional coverage based on losses paid by the Company. The reimbursement percentage applicable to this additional coverage shall be 100 percent, which includes reimbursement for loss adjustment expense as provided under the Reimbursement Contract. Once the limit of coverage under this option is exhausted, the insurer's retention under the mandatory coverage will apply. This additional reimbursement coverage shall be in addition to all other coverage provided by the SBA under the Company's Reimbursement Contract and shall be in addition to the claims-paying capacity of the FHCF as defined in Section 215.555(4)(c)1., Florida Statutes, but only with respect to those insurers that select the additional coverage option. Coverage provided in this additional coverage option shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. While this additional coverage shall not reduce, overlap, or duplicate coverage otherwise provided for in the Reimbursement Contract or offset any co-payments, the amount of coverage selected herein is irrevocable. Any amount of additional coverage selected herein that would in effect overlap FHCF coverage otherwise provided for in the Reimbursement Contract, or any other Addenda to the Reimbursement Contract, shall be deemed by the FHCF to shift above the highest level of coverage otherwise provided by the FHCF. The claims-paying capacity with respect to all other participating insurers, including eligible Companies that do not select the additional coverage option, shall be limited to their reimbursement premium's proportionate share of the actual claims-paying capacity as defined in Section 215.555(4)(c)1., Florida Statutes, and as provided for under the terms of the Reimbursement Contract, plus any coverage provided under any other Addenda to the Reimbursement Contract. The optional coverage provided in this Addendum expires on May 31, 2012. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, March 1, 2011. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2011 Contract Year. Furthermore, there shall be no coverage under this Addendum for any Loss Occurrence, as defined in Article V of the Contract and under which the Company would be eligible for reimbursements under the Contract, that occurs prior to the FHCF receiving the fully executed Addendum No. 1 (original copies). New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence under which the company would be eligible for reimbursements under the Contract. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2011 Contract Year. ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT AND ELIGIBLE FOR THIS ADDITIONAL COVERAGE MUST INDICATE BELOW THE AMOUNT OF ADDITIONAL COVERAGE SELECTED, IF ANY. Rule 19-8.010, F.A.C. If your Company does not wish to purchase the additional coverage under this Addendum, print "No Coverage" on the line below and initial the box. ________________________________ If your Company is eligible for the coverage under this Addendum and elects to purchase this coverage, indicate the amount of additional coverage up to $10 million (there is no additional coverage available in excess of $10 million) on the line below: $__________________ IF THIS ADDENDUM NO. 1 IS RETURNED WITHOUT THE BLANK SPACE IMMEDIATELY ABOVE FILLED IN WITH A DOLLAR AMOUNT, IT SHALL BE DEEMED BY THE STATE BOARD OF ADMINISTRATION TO BE A CHOICE TO REJECT THE ADDITIONAL COVERAGE. ______________________________________________ «Legal Name» By: ___________________________________________ _____________________________ Name/Title Date Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ _____________________________ Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: __________________________________________ _____________________________ Xxxx X. Xxxxxxxx Date Assistant General Counsel FL Bar ID#0702765 FHCF-2011K-1 Rule 19-8.010, F.A.C. ADDENDUM NO. 2 to REIMBURSEMENT CONTRACT Effective: June 1, 2011 (Contract) between «Legal_Name» (Company) NAIC # and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2011, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT OPTIONS FOR ADDITIONAL COVERAGE PURSUANT TO SECTION 215.555(17), FLORIDA STATUTES. Pursuant to Section 215.555(17), Florida Statutes, the Temporary Increase in Coverage Limit (TICL) Options provision allows the Company to select additional FHCF reimbursement coverage above its mandatory FHCF coverage layer under the Reimbursement Contract. The optional coverage selections provided in this Addendum No. 1 2 expires on May 31, 20132012. Coverage provided under TICL shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. Rule 19-8.010, F.A.C. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 2 (two originals) no later than 5 p.m., Central Time, March 1, 20122011. New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 2 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, under which the Company would be eligible for reimbursements under the Contract. Any Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 12.
Appears in 1 contract
Samples: Reimbursement Contract (United Insurance Holdings Corp.)
Written as Time Element Coverage. If your Company writes Covered Policies that provide ALE coverage on a time element basis (i.e., i.e. coverage is based on a specific period of time as opposed to a stated dollar limit), you must initial the '‘Yes - – Time Element ALE' ’ box below. If your Company does not write time element ALE coverage, initial '‘No - – Time Element ALE' ’ box below. MR OR Yes - Time No - Time Element ALE Element ALE FHCF-2012K Rule 19-8.010 F.A.C. ARTICLE XIX - SIGNATURES Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: __________________________________________ ______________________________ July 2, 2010 Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: __________________________________________ _____________________________ July 2, 2010 Xxxx Xxxxxxxx Date _____________________________________________________________________ United Assistant General Counsel FL Bar ID#0702765 Homeowners Choice Property and Casualty Insurance Company Xxxxxx XXXXXXX X. XxxxxxxXxXXXXXX, Senior Vice President, Secretary, & Chief Underwriting Officer III Typed/Printed Name and Title By: /s/ Xxxxxx X. Xxxxxxx 2/22/2012 5/27/10 Signature Date FHCF-201224 FHCF-2010K Rule 19-8.010 F.A.C. STATE BOARD OF ADMINISTRATION OF FLORIDA 0000 XXXXXXXXX XXXXXXXXX XXXXXXXXXXX, XXXXXXX 00000 (850) 488-4406 POST OFFICE BOX 13300 32317-3300 XXXXXXX XXXXX GOVERNOR AS CHAIRMAN XXXX XXXX CHIEF FINANCIAL OFFICER AS TREASURER XXXX XxXXXXXX ATTORNEY GENERAL AS SECRETARY XXX XXXXXXXX EXECUTIVE DIRECTOR & CIO ATTENTION: THIS ADDENDUM MUST BE COMPLETED, SIGNED, AND RETURNED BY ALL COMPANIES ELIGIBLE FOR COVERAGE UNDER THIS ADDENDUM REGARDLESS OF CHOICE TO ACCEPT OR REJECT THIS OPTIONAL COVERAGE ADDENDUM NO. 1 to REIMBURSEMENT CONTRACT Effective: June 1, 2012 2010 (Contract) between UNITED HOMEOWNERS CHOICE PROPERTY AND CASUALTY INSURANCE COMPANY Clearwater, FL (Company) XXXX NAIC # 00000 12944 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 20122010, that this Contract shall be amended as follows: ADDITIONAL COVERAGE OPTION (up to $10 million) PURSUANT TO SECTION 215.555(4)(b)4., FLORIDA STATUTES. Pursuant to Section 215.555(4)(b)4., Florida Statutes, certain Companies may select additional FHCF reimbursement coverage of up to $10 million dollars. The additional premium to be charged for this additional reimbursement coverage shall be 50 percent of the additional reimbursement coverage provided, which shall include one prepaid full reinstatement. The additional premium shall be due and payable in three equal installments on August 1, 2010, on October 1, 2010, and on December 1, 2010. The minimum retention level that must be retained associated with this additional coverage layer is 30 percent of the insurer's surplus as of December 31, 2009, for each Covered Event. For an insurer which began writing property insurance in 2010 and did not have a surplus as of December 31, 2009, surplus shall be deemed to be the surplus reported to the Office of Insurance Regulation at the time the insurer received its Certificate of Authority. This coverage is designed to apply a retention that triggers coverage prior to the insurer reaching its retention under the mandatory coverage level. The SBA will determine and pay, within 30 days or as soon as practicable after receiving Proof of Loss Reports, the reimbursement amount due under this optional coverage based on losses paid by the Company. The reimbursement percentage applicable to this additional coverage shall be 100 percent, which includes reimbursement for loss adjustment expense as provided under the Reimbursement Contract. Once the limit of coverage under this option is exhausted, the insurer's retention under the mandatory coverage will apply. This additional reimbursement coverage shall be in addition to all other coverage provided by the SBA under the Company's Reimbursement Contract and shall be in addition to the claims-paying capacity of the FHCF as defined in Section 215.555(4)(c)1., Florida Statutes, but only with respect to those insurers that select the additional coverage option. Coverage provided in this additional coverage option shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. While this additional coverage shall not reduce, overlap, or duplicate coverage otherwise provided for in the Reimbursement Contract or offset any co-payments, the amount of coverage selected herein is irrevocable. Any amount of additional coverage selected herein that would in effect overlap FHCF coverage otherwise provided for in the Reimbursement Contract, or any other Addenda to the Reimbursement Contract, shall be deemed by the FHCF to shift above the highest level of coverage otherwise provided by the FHCF. The claims-paying capacity with respect to all other participating insurers, including eligible Companies that do not select the additional coverage option, shall be limited to their reimbursement premium's proportionate share of the actual claims-paying capacity as defined in Section 215.555(4)(c)1., Florida Statutes and as provided for under the terms of the Reimbursement Contract, plus any coverage provided under any other Addenda to the Reimbursement Contract. The optional coverage provided in this Addendum expires on May 31, 2011. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 (two originals) no later than 5 p.m., Central Time, June 1, 2010. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2010 Contract Year. Furthermore, there shall be no coverage under this Addendum for any Loss Occurrence, as defined in Article V of the Contract and under which the Company would be eligible for reimbursements under the Contract, that occurs prior to the FHCF receiving the fully executed Addendum No. 1 (original copies). New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence under which the company would be eligible for reimbursements under the Contract. A Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 1 for the 2010 Contract Year. ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT AND ELIGIBLE FOR THIS ADDITIONAL COVERAGE MUST INDICATE BELOW THE AMOUNT OF ADDITIONAL COVERAGE SELECTED, IF ANY. 2 FHCF-2010K-1 Rule 19-8.010, F.A.C. If your Company does not wish to purchase the additional coverage under this Addendum, print “No Coverage” on the line below and initial the box. If your Company is eligible for the coverage under this Addendum and elects to purchase this coverage, indicate the amount of additional coverage up to $10 million (there is no additional coverage available in excess of $10 million) on the line below: $ 10,000,000 IF THIS ADDENDUM NO. 1 IS RETURNED WITHOUT THE BLANK SPACE IMMEDIATELY ABOVE FILLED IN WITH A DOLLAR AMOUNT, IT SHALL BE DEEMED BY THE STATE BOARD OF ADMINISTRATION TO BE A CHOICE TO REJECT THE ADDITIONAL COVERAGE. Homeowners Choice Property and Casualty Insurance Company By: XXXXXXX X. XxXXXXXX, III 5/27/10 Name/Title Date Approved by: Florida Hurricane Catastrophe Fund By: State Board of Administration of the State of Florida By: 7/2/10 Xxxxxx X. Xxxxxxxx Date Executive Director & CIO Approved as to legality: By: 7/2/10 Xxxx Xxxxxxxx Date Assistant General Counsel FL Bar ID#0702765 3 FHCF-2010K-1 Rule 19-8.010, F.A.C. STATE BOARD OF ADMINISTRATION OF FLORIDA 0000 XXXXXXXXX XXXXXXXXX XXXXXXXXXXX, XXXXXXX 00000 (850) 488-4406 POST OFFICE BOX 13300 32317-3300 XXXXXXX XXXXX GOVERNOR AS CHAIRMAN XXXX XXXX CHIEF FINANCIAL OFFICER AS TREASURER XXXX XxXXXXXX ATTORNEY GENERAL AS SECRETARY XXX XXXXXXXX EXECUTIVE DIRECTOR & CIO ATTENTION: THIS ADDENDUM MUST BE COMPLETED, SIGNED, AND RETURNED BY ALL COMPANIES EXECUTING A REIMBURSEMENT CONTRACT REGARDLESS OF CHOICE TO ACCEPT OR REJECT THIS OPTIONAL COVERAGE ADDENDUM NO. 2 to REIMBURSEMENT CONTRACT Effective: June 1, 2010 (Contract) between HOMEOWNERS CHOICE PROPERTY AND CASUALTY INSURANCE COMPANY Clearwater, FL (Company) NAIC # 12944 and THE STATE BOARD OF ADMINISTRATION OF THE STATE OF FLORIDA (SBA) WHICH ADMINISTERS THE FLORIDA HURRICANE CATASTROPHE FUND (FHCF) It is Hereby Agreed, effective at 12:00:01 a.m., Eastern Time, June 1, 2010, that this Contract shall be amended as follows: TEMPORARY INCREASE IN COVERAGE LIMIT OPTIONS FOR ADDITIONAL COVERAGE PURSUANT TO SECTION 215.555(17), FLORIDA STATUTES. Pursuant to Section 215.555(17), Florida Statutes, the Temporary Increase in Coverage Limit (TICL) Options provision allows the Company to select additional FHCF reimbursement coverage above its mandatory FHCF coverage layer under the Reimbursement Contract. The optional coverage selections provided in this Addendum No. 1 2 expires on May 31, 20132011. Coverage provided under TICL shall otherwise be consistent with terms and conditions as relates to the Reimbursement Contract including, but not limited to, definitions, coverage for Covered Policies as defined, exclusions, loss reporting, and examination procedures. 1 FHCF-2010K-2 Rule 19-8.010, F.A.C. To be eligible for this optional coverage, the Company must return a fully executed Addendum No. 1 2 (two originals) no later than 5 p.m., Central Time, March June 1, 20122010. New Participants, as defined in Article V of the Contract, must return a fully executed Addendum No. 1 2 (two originals) within thirty days of writing its first Covered Policy and prior to a Loss Occurrence, as both terms are defined in Article V of the Contract, under which the Company company would be eligible for reimbursements under the Contract. Any Company failing to meet the applicable deadline shall not be eligible for optional coverage under Addendum No. 12.
Appears in 1 contract
Samples: Attention (Homeowners Choice, Inc.)
