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~ ~ ,..... . c NOTICE AND ACKNOWLEDGEMENT OF FINANCIAL CONDITION Brown & Brown of Miami and its parent company, Brown & Brown, Inc. (collectively "Brown & Brown") do not certify, warrant or guarantee the financial soundness or stability of any insurance carrier or alternative risk transfer or pooling entity. We endeavored to place your coverage with an insurance carrier with an AM. Best Company financial rating of "A-" or better.* While Brown & Brown cannot certify, warrant or guarantee the financial soundness or stability of any insurance carrier or alternative risk transfer or pooling entity or otherwise predict whether the financial condition of any such entity might improve or deteriorate, we are hereby providing you with notice and disclosure of financial condition so that you can make an informed decision regarding the placement of coverage. Accordingly, with receipt of this notice you acknowledge the following with regard to the placement and any subsequent renewal of the coverage indicated below: Brown & Brown attempted to present other options for your insurance placement, including quotations with insurance carriers holding an "A-" or better rating from AM. Best Company, but we were unable to secure such a quote. Coverage is being placed through Preferred Governmental Insurance Trust ("PGIT"), which is as a Florida local government self-insurance fund established pursuant to Section 624.4622, Florida Statutes, as such PGIT is not rated by the AM. Best Company. PGIT is not subject to the protections afforded by any state guaranty fund or association. The financial condition of insurance companies and other coverage providers including local government self-insurance funds like PGIT may change rapidly and that such changes are beyond the control of Brown & Brown. You should review the financial and membership information from PGIT and agree to abide by the conditions of membership established by PGIT. You should consider the information provided, including the PGIT coverage quote and coverage placement and review it with your accountants, legal counsel and advisors. By: [NAME OF AUTHORIZED REPRESENTATIVE OF INSURED] Named Insured: City of Sunny Isles Beach Policy Number: TBD Policy Period: 10/1/11 -12 Date of Notice: * A.M. Best Rating Guide: Rating for Stability: A++ to D = Highest to lowest rating Rating for Assets/ Surplus: 15 to 1 - Largest to smallest rating Brown & Brown of Florida - Miami Division 43 Proposal No. 11-08-0 I