EFTA01107557.pdf

INSURANCE PRESENTATION Prepared For JEGE, Inc. N908JE Presented By MERIDIAN INSURANCE Written Through FALCON INSURANCE AGENCY INC. PITON NANIFOICE SPECEIUSS Greg Cryan, Extension 16 Meridian Insurance Group, LLC 301 Yamato Road, Suite 3150, Boca Raton, FL 33431 561-994-2210 • Fax 561-994-5292 www.meridianinsures.com September 1, 2011 This presentation is designed to give you an overview of the insurance coverage(s) we recommend for your company. It is meant only as a general understanding of your insurance needs and should not be construed as a legal interpretation of the insurance policies that will be written for you. Please refer to your specific insurance contracts for details on coverage, conditions and exclusions that will govern in the event of a covered loss. Specimen copies of all policies being illustrated are available upon request for review and explanation prior to binding coverage EFTA01107557  TABLE OF CONTENTS TABLE OF CONTENTS 2 NOTES TO MANAGEMENT 3 YOUR SERVICE TEAM 4 OUR SERVICE MISSION STATEMENT 5 SCHEDULE OF NAMED INSUREDS 6 LOCATION SCHEDULE 7 AIRCRAFT COVERAGE PROTECTION 8 SPECIFIC AIRCRAFT COVERED, USE AND VALUES 11 PREMIUM SUMMARY 12 BEST'S INSURER FINANCIAL STRENGTH RATINGS 13 PRIVACY NOTICE 15 CLIENT AUTHORIZATION TO BIND 16 EFTA01107558  NOTES TO MANAGEMENT On behalf of Meridian Insurance Group, we'd like to thank you for the privilege of being of potential professional service in the insuring of your aircraft N908JE. Please note, this coverage proposal is subject to your appointment of Meridian Insurance Group, LLC and Falcon Insurance Agency, Inc. as your Brokers of Record. On behalf of Universal Jet Aviation, we are happy to present you with the following proposal for insuring your aircraft. The presented coverage includes Hull Value at $7,500,000 and Liability coverage at $400,000,000. The liability coverage includes Worldwide protection with the specific requirements for European Union and Mexico. Please note the program enhancements that the Universal Jet Aviation program provides beyond the standard in the industry. The program cost and coverage enhancements are due to the excellent relationship and standing that Universal Jet has with the Insurance Carrier. In closing, thank you for the privilege to be of potential professional service to you. 3 EFTA01107559  YOUR SERVICE TEAM Commercial Insurance Group Service Team To deliver our mission of superior service, we have assembled a "Commercial Servicing Team" to manage your insurance needs. Our toll free telephone number is 866-994-2210. Your Brokers, Greg Cryan at Extension 16 and Don Kenny at 800-880-4545, are the leaders of this team and are responsible for coordinating your insurance requirements through our risk management approach. Your brokers' goal is to identify your insurance needs; analyze your exposures; search for alternatives; select the best coverage; and monitor the results of this program. Your brokers strive to be available 24 hours a day in case of an emergency. Greg's e-mail address is gcryan@meridianinsures.com. Don's e-mail address is dkenny@falconinsurance.com. Your Account Manager, Laura Daigle at is a vital part of the team, available during office hours for the handling of change requests, claims, general inquiries and special requests. Your account manager strives to always return your calls the same day and promptly process your requests. Laura's e-mail address is Idainle@meridianinsures.com. Business Hours Please call us at or toll free at 866-994-2210. Our fax number is 561-994-5292. Every call is important. Our office hours are from 8:30 AM to 5:00 PM, Monday through Friday. In the event of a catastrophe, our office will be open 7 days a week. After Business Hours — Claim ophic, severe or time sensitive nature may be reported by calling Greg Cryan at or Tucker Kirk at About Meridian Insurance Group Meridian Insurance has divisions of specialists available to fulfill our mission of being your complete insurance and financial provider. A few of our division specialists include: • Safety and Loss Control Specialists • Personal Insurance Specialists • Life and Estate Planning Specialists • Custom Group Benefits Specialists • Asset Management Specialists • Property & Casualty We are a single source provider of quality insurance related financial services. Meridian's unique service delivery system is designed to provide our clients with excellence and unparalleled access to the best financial resources in the world. At Meridian we are one contact; one professionally responsible and accountable firm to you and the demands of your business. 4 EFTA01107560  OUR SERVICE MISSION STATEMENT To protect our client's assets, facilitate growth and enhance the insurance purchasing experience through excellence in all that we do. We are committed to providing comprehensive insurance service to our clients through knowledge, professionalism and integrity. Our vision is to have the finest and most professional people providing the best service of any company in the world. Our Value Statement: (F.I.R.S.T.) Fairness: Maintaining Impartiality and Objectivity. Integrity: Adhering to the Highest Level of Ethics and Honesty. Respect: Demonstrating Understanding and Sensitivity for the Individual. Service: Always Putting Others Before Self. Trust: Belief in Long Term Relationships; belief in Our Community and Each Other for the Common Good. 5 EFTA01107561  SCHEDULE OF NAMED INSUREDS First Named Insured: JEGE, Inc. Other Named Insureds: Universal Jet Aviation as Manager of the Aircraft Upon Your Request Additional Insureds: Any person who is a passenger with the permission of the owner of the aircraft, persons/organizations that use or are legally responsible for your aircraft (with your permission). All employees and agents working for owner of the aircraft Additional Insured/Loss Payee — All Owner- Lessors. (Note: Depending upon some special circumstances, an additional premium might be charged in order to include or add insured parties to the coverages being illustrated within this Insurance Presentation.) 6 EFTA01107562  LOCATION SCHEDULE PREMISE BUILDING ADDRESS NUMBER NUMBER 001 001 3700 Airport Road, Suite 204, Boca Raton, FL 33431 Mailing Address: 103 Foulk Rd Ste 202, Wilmington, DE 19803 7 EFTA01107563  AIRCRAFT COVERAGE PROTECTION TERM: 2011-2012 (12-month term) INSURING COMPANIES: Global Aerospace AIRCRAFT: 1969 B727-031 (RE) TAIL NUMBER: N90f3JE SERIAL NUMBER: 20115 AIRCRAFT USE: Part 91 and Part 125 (TBA) DEDUCTIBLE: Nil LIABILITY: $400,000,000 Combined Single Limit, including Mexican Certificate and European Union Coverage • Physical Damage Coverage: Scheduled Aircraft: $ 7,500,000 Spare Parts/Engines: $ 1,000,000 each loss Mechanics Tools: $ 25,000 each loss (Deductible: $1,000) Automatic Insurance for Increased Insured Value: 25% of insured value • Liability Coverage: Schedule Aircraft: $400,000,000 each occurrence Temporary Substitute Aircraft: $400,000,000 each occurrence Extra Expense for Substitute Aircraft: $ 500,000 each occurrence Trip Interruption: $ 10,000 each occurrence Non-Owned Aircraft: $400,000,000 each occurrence Emergency Expenses/ Search & Rescue: $ 1,000,000 each occurrence Damage to Non-Owned or Substitute Aircraft: Maximum Value of Insured Aircraft/each Occurrence 8 EFTA01107564  Temporary Replacement Parts: $ 250,000 each occurrence Liability Coverage, continued: Damage to Hangers & Contents: $ 1,000,000 each occurrence Damage to Baggage: $ 25,000 each crew member/passenger Damage to Cargo: $ 250,000 each occurrence (Deductible: $2,000) Airport Premises: $400,000,000 each occurrence Sale of Aircraft, Parts or Services: $400,000,000 each occurrence /aggregate Personal Injury: $ 25,000,000 per occurrence/aggregate Mexican Coverage Included • Medical Payments $ 5,000 each passenger/each occurrence 5,000 premises/$50,000 each occurrence • Policy Territory Worldwide — Options for full compliance with EU requirements and/or Mexico Coverage 9 EFTA01107565 Pilots: The policy shall not apply while a scheduled aircraft is in flight unless operated by a two pilot flight crew consisting of the following: With respect to turbojet powered aircraft: A. AS PILOT IN COMMAND: Any Pilot Approved by Universal Jet, subject to full policy conditions. B. AS SECOND IN COMMAND: Any Pilot Approved by Universal Jet, subject to full policy conditions The pilot requirements do not apply while a scheduled aircraft is in the care, custody or control of a repair on maintenance facility. The pilot requirements do not apply to a non-owned aircraft or a temporary substitute aircraft. 10 EFTA01107566  SPECIFIC AIRCRAFT COVERED, USE AND VALUES Aircraft Registration Number N908JE Aircraft Type 1969 B727-031 (RE) Physical Damage Coverage $7,500,000 Physical Damage Deductible Nil Aircraft Use Part 91 and Part 125 (TBA) $400,000,000 Combined Single Limit Worldwide Territory. Options Given for Mexican and/or Liability Coverage European Union Coverage, including required War coverage 11 EFTA01107567  PREMIUM SUMMARY Insured: JEGE, Inc. Policy Term: 12 Month Term Annual Description Of Coverage Insurance Company Premium Aviation Insurance Policy for N908JE $7,500,000 Hull Value, $400,000,000 Combined Single Liability Limit, with European Global Aerospace $318,000.00* Union Coverage, Mexican Certificate and taxes and fees included) *Subject to final carrier approval PAYMENT TERMS: • Payment in full made payable to Meridian Insurance Group. • Premium finance options available upon request. • Premium includes all applicable fees BINDING REQUIREMENTS: • Signed/Dated Client Authorization to Bind Form • Signed/Dated ACORD and/or Specialty Applications • Signed/Dated Terrorism Election/Rejection Form • Premium Payment in full or fully executed premium finance agreement inclusive of the designated down payment made payable to Meridian Insurance Group. SURPLUS LINES DISCLAIMER: Insurance is issued pursuant to the Florida Surplus Lines Law. Persons insured by Surplus Lines Garners do not have the protection of the Florida Insurance Guaranty Act to the extent of any right of recovery for the obligation of an insolvent unlicensed insurer. Surplus Lines policies that are subject to audit provide for additional premium charges. but may not allow for return premium. NOTES: This is a coverage summary. not a legal contract. This summary is provided to assist in your understanding of your insurance program. Please refer to the actual policies for specific terms, conditions, limitations and exclusions that will govern in the event of a loss. Specimen copies of all policies are available upon request for review prior to the binding of coverage. In evaluating your exposure to loss, we have been dependent upon information provided by you. If there are other areas that need to be evaluated prior to binding of coverage. please bring these areas to our attention. Should any of your expraires change after coverage is bound. such as your beginning new operations, hiring employees in new states, buying additional property. etc.. please let us know so proper coverage(s) can be discussed. Higher limits may be available. Please contact us if you would like a quote for higher limits. 12 EFTA01107568  BEST'S INSURER FINANCIAL STRENGTH RATINGS The objective of Best's rating system is to provide an opinion as to an insurers financial strength and ability to meet ongoing obligations to policyholders. Our opinions are derived from an evaluation of a company's balance-sheet strength and operating performance as compared with Best's quantitative and qualitative standards. Secure Bests Ratings A++ and A+ (Superior) Assigned to companies that have on balance, superior financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have a very strong ability to meet their ongoing obligations to policyholders. A and A- (Excellent) Assigned to companies that have on balance, excellent financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have a strong ability to meet their ongoing obligations to policyholders. B++ and B+ (Very Good) Assigned to companies that have on balance, very good financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have a good ability to meet their ongoing obligations to policyholders. Vulnerable Best's Ratings B and B- (Fair) Assigned to companies that have on balance, fair financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have an ability to meet their current obligations to policyholders, but their financial strength is vulnerable to adverse changes in underwriting and economic conditions. C++ and C+ (Marginal) Assigned to companies that have on balance, marginal financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have an ability to meet their current obligations to policyholders, but their financial strength is vulnerable to adverse changes in underwriting and economic conditions. C and C- (Weak) Assigned to companies that have on balance, weak financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have an ability to meet their current obligations to policyholders, but their financial strength is very vulnerable to adverse changes in underwriting and economic conditions. I3 EFTA01107569  D (Poor) Assigned to companies that have on balance, poor financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, may not have an ability to meet their current obligations to policyholders and their financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions. E (Under Regulatory Supervision) Assigned to companies that have been placed by an insurance regulatory authority under a significant form of supervision, control or restraint, such as conservatorship or rehabilitation, but does not include liquidation. F (In Liquidation) Assigned to companies that have been placed under an order of liquidation by a court of law or whose owners have voluntarily agreed to liquidate the company. Financial Size Categories (FSC) Assigned to all companies and reflects their size based on their capital, surplus and conditional reserve funds in millions of U.S. dollars, using the scale below. To enhance the usefulness of our ratings, A.M. Best assigns each company a Financial Size Category (FSC). The FSC is designed to provide the subscriber with a convenient indicator of the size of a company in terms of its statutory surplus and related accounts. Many insurance buyers only want to consider buying insurance coverage from companies that they believe have sufficient financial capacity to provide the necessary policy limits to insure their risks. Although companies utilize reinsurance to reduce their net retention on the policy limits they underwrite, many buyers still feel more comfortable buying from companies perceived to have greater financial capacity. FSC I Less than 1 FSC II 1 to 2 FSC III 2 to 5 FSC IV 5 to 10 FSC V 10 to 25 FSC VI 25 to 50 FSC VII 50 to 100 FSC VIII 100 To 250 FSC IX 250 To 500 FSC X 500 To 750 FSC XI 750 To 1,000 FSC XII 1,000 To 1,250 FSC XIII 1,250 To 1,500 FSC XIV 1,500 To 2,000 FSC XV Greater Than 2,000 14 EFTA01107570  PRIVACY NOTICE Our Privacy Promise to You We provide this notice to you. our customer, so that you will know what we will do with the personal information, personal financial and health information (collectively referred to as the protected information") that we may receive from you directly or receive from your health care provider or receive from another source that you have authorized to send us your protected information. We are concerned about your privacy and assure you that we will do what is required of us to safeguard your protected information. What types of information will we be collecting? We collect information from you required both for our business and pursuant to regulatory requirements. Without it, we cannot provide our products and services for you. We will be collecting protected information about you from: • Applications or other forms, such as name, address, Social Security number, assets and income, employment status and dependent information; • Your transactions with us or your transactions with others, such as account activity, payment history, and products and services purchased; • Consumer reporting agencies, such as credit relationships and credit history. These agencies may retain their reports and share them with others who use their services; • Other individuals, businesses and agencies, such as medical and demographic information; and • Visitors to our websites, such as information from on-line forms, site visitorship data and on-line information collection devices. commonly called "cookies." What will we do with your protected information? The information we gather is shared within our company to help us maximize the services we can provide to our customers. We will only disclose your protected information as is necessary for us to provide the insurance products and services you expect from us. We do not sell your protected information to third parties, nor does it sell or share customer lists. We may also disclose all of the information described above to third parties with which we contract for services. In addition. we may disclose your protected information to medical care institutions or medical professionals, insurance regulatory authorities, law enforcement or other government authorities, or to affiliated or nonaffiliated third parties as is reasonably necessary to conduct our business or as otherwise permitted by law. Our Security Procedures We have put in place the highest measures to ensure the security and confidentiality of customer information. We will handle the protected information we receive by restricting access to the protected information about you to those employees and agents of ours who need to know that information to provide you with our products or services or to otherwise conduct our business, including actuarial or research studies. Our computer database has multiple levels of security to protect against threats or hazards to the integrity of customer records. and to protect against unauthorized access to records that may harm or inconvenience our customers. We maintain physical, electronic, and procedural safeguards that comply with federal and state regulations to safeguard all of your protected information. Our Legal Use ofInformation We retain the right to use ideas, concepts, know-how, or techniques contained in any nonpublic personal information you provide to us for our own purposes, including developing and marketing products and services. Your Right to Review Your Records You have the right to review the protected information about you relating to any insurance or annuity product issued by us that we could reasonably locate and retrieve. You may also request that we correct, amend or delete any inaccurate information by writing to us at the above address. 15 EFTA01107571  CLIENT AUTHORIZATION TO BIND Important Information: Please keep in mind coverage cannot be bound when severe weather is threatening regardless of the expiration date. After careful consideration of your presentation dated September 1, 2011, we accept your insurance program as presented with the following exceptions, changes, and/or recommendations: COVERAGES ACCEPT I DECLINE I Aviation Insurance Policy for N908JE through Global Aerospace and other "A" or higher rated insurers as agreed — $7,500,000 Hull Value, $400,000,000 Combined Single Liability Limit, with European Union Coverage, Mexican Certificate and taxes and fees included — Annual Premium $318,000.00 Client Signature, Title Date , JEGE, Inc. This is not the actual contract between you and the insurance company. Please refer to the actual policy for details of coverage. MERIDIAN 1=3 Phone: Fax 561-994-5292 16 EFTA01107572