The following description is a summary of the policy coverage only and is not intended to serve as a substitute for the actual insurance contract. The Fraternal Property Management Association (FPMA) Insurance Program is a voluntary program available to any chapter or Alumni and Volunteer Corporation of Sigma Phi Epsilon Fraternity. If your chapter does not presently participate in the property insurance program and you wish to obtain a coverage and premium proposal, please contact Holmes Murphy to obtain a quote. We encourage you to consider this insurance as it is an affordable option that provides comprehensive coverage for fraternity houses. If interested, you may request a quote online or you may contact Tiffanie Havelka at 402.898.4191. The property insurance program provides all risk coverage insuring the building, contents, business income (loss of rents), extra expense and equipment breakdown of property owned or leased by the local chapter or Alumni and Volunteer Corporation. Insurance Company: RSUI Indemnity Co. Policy Period: April 1, 2015 to April 1, 2016 Policy Deductibles: There is an option for a $2,500 or $10,000 deductible for all covered losses except the following: Flood Coverage $100,000 Flood – Zone A or V only (e.g., 100 year flood plain and most coastal properties) $25,000 Flood – all other Earthquake Coverage $25,000 Earthquake All Locations Excluding California 5% of Total Insured Values but not less than $25,000 for all California locations that have paid the additional premium for Earthquake coverage Named Storm Coverage $10,000 for all locations located in First Tier Wind Counties (primarily coastal counties from Virginia to Texas and the entire state of Florida), that have paid the additional premium for Wind/hail coverage; or carry 2% of Total Insured Values but not less than $25,000 for all locations in the First Tier Wind Counties and are on record with the Holmes Murphy office as having declined to pay the additional premium for Wind/Hail coverage with the lower deductible. $10,000 Vacant Locations $1,000 Equipment Breakdown The Sigma Phi Epsilon Fraternity coverage includes: 1. “All Risks” of Physical Loss or Damage Extends protection of physical loss or damage to include vandalism, malicious mischief, and burglary and theft. Coverage is included for all causes of loss except those excluded by the insurance contract. 2. Replacement Cost Coverage Provides for the full replacement of the building and contents owned by the chapter or Alumni and Volunteer Corporation if the physical plant is damaged or completely destroyed, up to the limits of coverage purchased for their premises. If the property is insured to 100% of the Boeckh Valuation System (BVS) calculation completed by Holmes Murphy, Guaranteed Replacement Cost coverage applies. Guaranteed Replacement Cost coverage will pay for full replacement of the structure to its prior condition regardless of the building limit shown on the policy. All local AVC/property management teams should at least annually assess the replacement cost of their premises to make sure the location is properly insured. All limits of coverage/value of property changes should be reported in writing to: Holmes Murphy, Attn: Trude Smouse, 10707 Pacific Street Ste 200, Omaha, NE 68114; Fax 800.328.0522; or e-mail tsmouse@holmesmurphy.com. 3. Agreed Amount Coverage This provides for the removal of the coinsurance clause, ensuring that a chapter will not be penalized for unintentional undervaluation of a chapter property. A chapter must still ensure that the values reported to the insurance carrier are correct, the policy will only pay up to the values reported. For example, if an Alumni and Volunteer Corporation reports replacement cost building values of $400,000 and the chapter suffers a total loss and is in need of $800,000 to replace the structure, the insurance carrier will only pay $400,000. 4. Earthquake and Flood Coverage Provided under the FPMA Property Program. 5. Law and Ordinance Coverage Provides the additional funds necessary to bring damaged structures up to current building code requirements, following a fire or other extensive damage to a chapter house. Standard property insurance policies only require the insurance company to return the property to its original state and likely will not provide the additional funds needed to bring the property in compliance with current building code requirements. 6. Equipment Breakdown Coverage Provides protection for losses suffered as a result of accidental damage or mechanical or electrical system failure in a chapter house from boilers, heating and cooling systems, hot water supply tanks, compressors, pumps, transformers, circuit breakers, or electrical panels. *Equipment Breakdown Company:  Charter Oak Fire Insurance Company (Travelers) What is covered? The property program will pay for property claims, up to the limit of coverage provided by the local chapter or Alumni and Volunteer Corporation, resulting from a covered cause of loss for damage to or loss of:

1. Building owned by the local Alumni and Volunteer Corporation or chapter.
2. Contents owned by the local Alumni and Volunteer Corporation or chapter.
3. Business Income (Loss of Rents) suffered by the Alumni & Volunteer Corporation.
4. Extra Expense suffered by the Alumni and Volunteer Corporation or chapter.
5. Boiler, Machinery or Electrical Apparatus owned by the Alumni and Volunteer Corporation.

What is not covered?

1. Damage to personal property of chapter members, employees or guests.
2. Losses arising out of pollution contamination or asbestos.

How does a chapter participate in the Sigma Phi Epsilon property program? If your chapter/Alumni and Volunteer Corporation is interested in receiving a coverage and premium proposal, please have an Alumni and Volunteer Corporation officer or alumnus/chapter advisor complete the property application. This application needs to be completed before coverage can be bound. Please remit the questionnaire with your request to receive a coverage and premium proposal to: Holmes Murphy Tiffanie Havelka Marketing Assistant 10707 Pacific Street, Suite 200 Omaha, NE 68114 800.736.4327 ext. 4191 800.328.0522 thavelka@holmes.murphy.com www.holmesmurphyfraternity.com