Trustees: Pio Ieraci, Chairman Eric Berkowitz, Vice President.

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Presentation transcript:

Trustees: Pio Ieraci, Chairman Eric Berkowitz, Vice President

Advantages of Membership Condominium Owned and Controlled Florida Authorized, Admitted and Approved Significant Cost Savings Pre Determined Contingent Assessment Rates & Pricing Developed by Independent Actuary Reinsurance cost based on Superior Construction

GOMSIT comparison to Citizens Both are Approved by the State of Florida Both are Created by the State Legislature Both are Assessable Both are Member Owned Both use Independent Agents Both are Protected by the FLA Cat Fund

GOMSIT advantages over CITIZENS Price is based on only the best risks Potential Assessments are Limited Profit Sharing or Dividends returned to Members Repairs brought up to Current Building Code Local control of costs and coverage Local claims service

GOMSIT vs. CITIZENS GOMSITCITIZENS Superior ConstructionYesNo Law and OrdinanceYesNo Florida Guarantee Fund No Assessment Amount.25% of BuildingUnlimited DividendsYesNo Member ControlledYesNo

Reinsurance/Payout Structure

What is required to receive Coverage Sign Policy Applications Sign Membership and Indemnity Agreements Premium Deposit Provide Letter of Credit within 21 Days Appoint Representative to GOMSIT

In Conclusion… 525 SE Central Parkway Stuart, Florida 34994