1/10 Risk Manager reviews & signs-off on form comparisons/ manuscript wording; Selects Markets

1. 1/17 Risk Manager performs Analytical Modeling PROPOSED INSURANCE RENEWAL TIMELINE (Direct Relationship) Based on June 1 Effective Date Milestone Key Activity 1/3 Renewal Strategy Meeting: design options, form comparisons/ manuscript wording, target pricing Sets renewal timeline 4/10-4/15 Carrier and Risk Manager meet for a formal service meeting/financial presentation. Risk Manager receives Primary quotations based upon agreed terms 5/7-5/14 Risk Manager presents quotes to management; provides authorization to bind 6/30 Excess policies received and reviewed by Risk Manager 3/1 Risk Manager distributes specifications & policy wording to markets and communicates renewal timeline 5/22-6/1 Carrier mails invoice to Risk Manager. Payment of premium due 4/22-4/30 Risk Manager reviews quotes, seek final terms 3/22-4/10 All parties annotate changes to policy form and endorsements; Finalize terms as basis for quotes 4/15-4/22 Risk Manager reviews quotations, identifies deviations, compares terms of competing quotes; 5/15 Risk Manager prepares binding documents and Carrier either (1) issues policies based upon negotiated wording or (2) binders 6/15 Primary policies received and reviewed by Risk Manager 3/8-3/22 Carrier validates info, performs credit analysis, seeks out reinsurance, completes legal agreement and collateral process, communicates any questions or issues to the Risk Manager, commits to quotation timeline 1/10 Risk Manager reviews & signs-off on form comparisons/ manuscript wording; Selects Markets 4/30-5/7 Risk Manager obtains Umbrella quotes 6/1 Policy Effective - 150 to -60 Days -45 to -30 Days -15 to 0 Days 0 – 30 Days