1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript word

1. PROPOSED INSURANCE RENEWAL TIMELINE Based on June 1 Effective Date Milestone Key Activity 1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript wording, target pricing Sets renewal timeline 5/7 Risk Manager presents quotes to management, obtains authority to bind; provides binding authorization to Broker 2/15 Broker distributes specifications and policy wording to carriers and communicates renewal timeline 4/10 Broker reviews quotations, identifies deviations, compares terms of competing quotes; provides to Risk Manager 6/30 Umbrella policies received, reviewed and forwarded to Risk Manager 6/1 Policy Expiration 4/30 Broker receives Umbrella quotes, verifies follows Primary form or identifies deviations; provides to Risk Manager 5/15 Carriers prepare either (1) policies or (2) binders; forward to Broker 3/15 All parties annotate changes to policy form and endorsements; obtain internal approval to finalize and use terms as basis for quotes 1/17 Broker performs Analytical Modeling 4/22 Risk Manager reviews quotes, advises Broker of best options and any improvements to pursue; Broker negotiates final terms 2/1 Risk Manager submits specifications/ applications to Broker 4/1 Broker receives Primary quotations based on agreed terms 5/8 Broker notifies carriers of binding instructions 6/15 (If binders used) Primary policies received, reviewed and forwarded to Risk Manager 5/20 Broker performs quality review of policies or binders and forwards to Risk Manager 3/1 Carriers review specs and forms in advance of meeting with Risk Manager and Broker; Carriers commit to quotation timeline 1/10 Risk Manager review and signs-off on form comparisons/ manuscript wording; Selects Markets - 150 to -60 Days -45 to -30 Days -15 to 0 Days 0 – 30 Days