High-Net-Worth Property & Casualty Insurance¶

Policy Form No. APX-PC-2025-002 | Edition Date: September 2025 | Apex Financial Partners Insurance Company

This Policy is a legal contract between the Named Insured and Apex Financial Partners Insurance Company. Please read it carefully. If you have questions, contact your Apex Private Client advisor.

Policy Overview¶

The Apex High-Net-Worth Property & Casualty Insurance Policy ("Policy") is a comprehensive, manuscript-style property and casualty insurance contract designed exclusively for individuals and families with a total insured property value of $2,000,000 or greater. This Policy is issued by Apex Financial Partners Insurance Company ("the Company," "We," "Us," or "Our"), a Delaware-domiciled insurer rated A+ (Superior) by AM Best.

In the event of a covered loss, the Company shall indemnify the Named Insured for direct physical loss or damage to Covered Property, subject to the terms, conditions, deductibles, and limits of liability set forth herein. Unlike standard homeowners policies, this Policy provides open-peril (all-risk) coverage on both the dwelling and personal property, agreed-value settlement with no coinsurance penalty, worldwide coverage for personal property, and guaranteed replacement cost for the primary dwelling.

This Policy is tailored for discerning clients who require protection for luxury residences, vacation properties, fine art collections, jewelry, wine collections, antiques, and other high-value personal assets that are inadequately covered by standard market insurance products.

Definitions¶

For purposes of this Policy, the following terms shall have the meanings ascribed to them below. These definitions govern the interpretation of all Policy provisions, endorsements, and attached schedules.

"Named Insured" means the individual or individuals identified on the Declarations Page as the policyholder. This includes spouses and domestic partners who are residents of the same household.

"Covered Property" means the dwelling, other structures, personal property, and additional coverages described in this Policy, located at the premises identified on the Declarations Page or, where applicable, at any location worldwide.

"Dwelling" means the residential structure at the address shown on the Declarations Page, including attached structures, built-in appliances, fixtures, outdoor fixtures, and permanently installed swimming pools, hot tubs, and related equipment.

"Other Structures" means structures on the insured premises that are separated from the Dwelling by clear space, including detached garages, guest houses, pool houses, barns, stables, greenhouses, gazebos, fences, retaining walls, tennis courts, and private docks.

"Personal Property" means tangible property owned or used by the Named Insured or family members residing in the Named Insured's household, wherever located in the world, including but not limited to furniture, electronics, clothing, sporting equipment, and household goods.

"Scheduled Personal Property" means items of personal property individually described and specifically insured on the Personal Property Schedule attached to this Policy, including fine art, jewelry, watches, furs, silverware, musical instruments, wine collections, stamps, coins, and antique firearms.

"Agreed Value" means the amount of insurance stated on the Declarations Page or Personal Property Schedule for each covered item or category, as agreed upon by the Named Insured and the Company at the inception of the Policy. In the event of a total loss, the Agreed Value shall be paid without depreciation, without a coinsurance penalty, and without requirement of additional appraisal, unless fraud is suspected.

"Occurrence" means an accident, including continuous or repeated exposure to substantially the same general harmful conditions, which results in bodily injury or property damage during the policy period. All bodily injury or property damage arising out of the same or related events shall be considered a single Occurrence.

"Bodily Injury" means physical injury, sickness, disease, disability, or death sustained by a person, including mental anguish, emotional distress, or shock resulting therefrom.

"Property Damage" means physical injury to, destruction of, or loss of use of tangible property.

"Replacement Cost" means the cost to repair or replace the damaged property with materials of like kind and quality, without deduction for depreciation, obsolescence, or physical wear and tear. For the Dwelling, Replacement Cost includes the cost of complying with current building codes and ordinances.

Coverage Details¶

Coverage A — Dwelling¶

The Company shall pay for direct physical loss or damage to the Dwelling caused by any peril not otherwise excluded in this Policy. Coverage is provided on a guaranteed replacement cost basis, meaning the Company shall pay the full cost to repair or rebuild the Dwelling to its pre-loss condition using materials of like kind and quality, even if such cost exceeds the Coverage A limit shown on the Declarations Page, up to an additional 50% above the stated limit.

Coverage B — Other Structures¶

The Company shall pay for direct physical loss or damage to Other Structures on the insured premises. The limit for Other Structures is 30% of the Coverage A limit, unless a higher amount is shown on the Declarations Page. Each Other Structure may be separately scheduled for a specific agreed value.

Coverage C — Personal Property (Unscheduled)¶

The Company shall pay for direct physical loss or damage to Personal Property owned or used by the Named Insured, anywhere in the world. The limit for unscheduled Personal Property is 70% of the Coverage A limit. Sub-limits apply to certain categories unless items are individually scheduled:

Coverage D — Loss of Use¶

If a covered loss renders the Dwelling uninhabitable, the Company shall pay reasonable and necessary additional living expenses incurred by the Named Insured to maintain their normal standard of living, for up to twenty-four (24) months or until the Dwelling is repaired or replaced, whichever occurs first. There is no dollar sub-limit on Loss of Use coverage, provided expenses are reasonable and documented.

Coverage E — Personal Liability¶

The Company shall pay on behalf of the Named Insured all sums which the Named Insured shall become legally obligated to pay as damages because of Bodily Injury or Property Damage arising out of an Occurrence. The limit of liability is $2,000,000 per Occurrence, unless a higher limit is shown on the Declarations Page. Coverage includes worldwide personal liability, including incidents occurring at secondary or vacation residences.

Coverage F — Medical Payments to Others¶

The Company shall pay reasonable and necessary medical expenses incurred within three (3) years of an accident causing Bodily Injury to a person other than the Named Insured, where such accident arises out of the Named Insured's premises or activities. The limit is $25,000 per person per accident, payable regardless of fault.

Coverage Limits & Deductibles¶

The Named Insured may elect higher deductibles in exchange for reduced premium. Available deductible options for the Dwelling are $10,000, $25,000, $50,000, and $100,000. A separate wind/hail deductible of 2% to 5% of Coverage A may apply in coastal zones, as shown on the Declarations Page.

Exclusions¶

Notwithstanding the foregoing, this Policy does not cover loss or damage caused by, resulting from, or arising out of the following perils, conditions, or circumstances:

1. Flood and Surface Water. Loss or damage caused by flood, surface water, tidal water, overflow of any body of water, storm surge, mudflow, or water that backs up through sewers or drains. Flood coverage may be available through the National Flood Insurance Program or by endorsement, subject to additional premium and underwriting.

2. Earth Movement. Loss or damage caused by earthquake, volcanic eruption, landslide, mudslide, subsidence, sinkhole, or any other earth movement, whether natural or man-made. Earthquake coverage may be available by endorsement in eligible areas.

3. Nuclear Hazard. Loss or damage caused by nuclear reaction, nuclear radiation, or radioactive contamination, however caused, whether controlled or uncontrolled, and whether the loss is direct or indirect.

4. War and Military Action. Loss or damage caused by war, declared or undeclared, civil war, insurrection, rebellion, revolution, warlike action by a military force, or the destruction or seizure of property by order of governmental authority.

5. Intentional Acts. Loss or damage intentionally caused by or at the direction of any Named Insured. This exclusion shall not apply to other Named Insureds who did not participate in or direct the intentional act.

6. Governmental Action. Loss or damage caused by seizure, confiscation, nationalization, or destruction of property by order of any governmental authority, except as necessary to prevent the spread of fire.

7. Neglect. Loss or damage resulting from the Named Insured's neglect to use all reasonable means to save and preserve Covered Property at and after the time of a covered loss.

8. Wear and Tear. Loss or damage caused by wear and tear, gradual deterioration, inherent vice, latent defect, mechanical breakdown (except as covered under Equipment Breakdown), rust, corrosion, mold (unless resulting from a covered peril), wet or dry rot, smog, smoke from agricultural or industrial operations, settling, cracking, shrinking, bulging, or expansion of pavements, foundations, walls, floors, roofs, or ceilings.

9. Ordinance or Law (Undisclosed). The cost of enforcing any ordinance, law, or regulation governing the construction, repair, or demolition of a structure, unless Building Ordinance or Law coverage is included. This Policy includes Building Ordinance or Law coverage at a limit equal to 25% of Coverage A.

10. Pollution. Loss, damage, or liability arising from the actual, alleged, or threatened discharge, dispersal, seepage, migration, release, or escape of pollutants, regardless of cause. Pollutants include any solid, liquid, gaseous, or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste.

Conditions & Warranties¶

Duties After Loss¶

In the event of a loss, the Named Insured shall: (a) give immediate notice to the Company or its authorized agent; (b) protect the property from further damage; (c) cooperate with the Company's investigation; (d) prepare an inventory of damaged or stolen property showing quantity, description, actual cash value, and replacement cost; (e) provide sworn proof of loss within sixty (60) days of the Company's request; and (f) submit to examination under oath as often as the Company may reasonably require.

Examination Under Oath¶

The Company reserves the right to examine under oath the Named Insured and any member of the Named Insured's household, as often as may be reasonably required, and to require the production of all relevant records, documents, and physical evidence. Failure to comply shall constitute a material breach of this Policy.

Suit Against Us¶

No action shall be brought against the Company unless the Named Insured has fully complied with all terms of this Policy and the action is commenced within two (2) years after the date of loss. This limitation shall not apply where prohibited by law.

Liberalization Clause¶

If the Company adopts any revision of this Policy form that would broaden coverage without additional premium charge, the broadened coverage shall apply to this Policy automatically.

Other Insurance¶

If the Named Insured has other insurance covering a loss also covered by this Policy, the Company shall pay its proportionate share. However, for Scheduled Personal Property, this Policy shall be primary and non-contributory.

Claims Process¶

1. Immediate Notification. Report the loss to Apex Private Client Claims at 1-800-555-APEX (2739), available 24 hours a day, 7 days a week. For theft or vandalism, also file a police report within 24 hours.

2. Emergency Mitigation (Immediate). Take reasonable steps to prevent further damage. The Company shall reimburse reasonable emergency mitigation expenses without application of the deductible, up to $50,000 without prior approval.

3. Claims Adjuster Assignment (Within 48 Hours). A dedicated private client claims adjuster will be assigned and will contact the Named Insured within forty-eight (48) hours of notification. For catastrophic losses (losses exceeding $500,000), a senior adjuster and independent appraiser will be assigned jointly.

4. Documentation and Inspection (Within 14 Days). The claims adjuster will schedule an inspection of the damaged property and request supporting documentation, including photographs, receipts, appraisals, and inventories.

5. Proof of Loss (Within 60 Days). Submit a signed and sworn Proof of Loss statement. The Company shall provide the Proof of Loss form within five (5) business days of the adjuster's initial inspection.

6. Claim Determination and Payment (Within 30 Days). The Company shall issue payment within thirty (30) days of receiving a complete Proof of Loss. Partial payments may be issued for undisputed portions of the claim while disputed amounts are being resolved.

7. Dispute Resolution. If the Named Insured disputes the amount of loss, either party may demand an appraisal. Each party shall select a competent, independent appraiser within twenty (20) days. The two appraisers shall select an umpire. A decision agreed to by any two shall be binding.

Waiting Periods & Effective Dates¶

This Policy shall take effect at 12:01 A.M. standard time on the effective date shown on the Declarations Page and shall continue in force until 12:01 A.M. standard time on the expiration date, unless cancelled prior thereto.

Coverage under this Policy is effective immediately upon the effective date, with no waiting period or elimination period for any coverage under the base policy. Newly acquired property is automatically covered for up to ninety (90) days from the date of acquisition, after which the Named Insured must report the new acquisition to the Company and pay any additional premium due.

For Scheduled Personal Property added by endorsement during the policy period, coverage is effective on the date the Company receives written notice of the addition and the applicable premium, or on such later date as specified by the Named Insured.

Cancellation & Non-Renewal Terms¶

Cancellation by the Named Insured¶

The Named Insured may cancel this Policy at any time by providing written notice to the Company. The effective date of cancellation shall be the date stated in the notice or, if no date is stated, the date the notice is received by the Company. The Company shall refund the unearned premium on a pro-rata basis within thirty (30) days.

Cancellation by the Company¶

The Company may cancel this Policy by mailing written notice to the Named Insured at least: (a) ten (10) days before the effective date of cancellation if cancellation is for non-payment of premium; or (b) sixty (60) days before the effective date of cancellation for any other reason, including material change in risk, material misrepresentation, or substantial change in the condition of the insured property. The Company shall refund any unearned premium on a pro-rata basis.

Non-Renewal¶

The Company may elect not to renew this Policy by mailing written notice to the Named Insured at least ninety (90) days prior to the expiration date. The notice shall state the reason for non-renewal.

Premium Payment Terms¶

The annual premium is shown on the Declarations Page. Premiums may be paid annually, semi-annually, or quarterly. A modal loading factor of 3% (semi-annual) or 5% (quarterly) applies to installment payment plans.

A Grace Period of fifteen (15) days is allowed for each premium payment after the first. If a covered loss occurs during the Grace Period, any unpaid premium shall be deducted from the loss payment. If premium is not paid by the end of the Grace Period, this Policy shall be cancelled effective as of the premium due date.

Premium adjustments may occur at renewal based on changes in Coverage A values, claims experience, and territorial rating factors. The Company shall provide at least sixty (60) days' notice of any premium increase at renewal.

Endorsements & Riders¶

The following endorsements are available to customize this Policy. Contact your Apex Private Client advisor for details.

• Flood Coverage Endorsement — Provides coverage for flood, surface water, and storm surge. Limits up to $5,000,000. Annual premium varies by flood zone.
• Earthquake Coverage Endorsement — Covers loss from earthquake, volcanic eruption, and earth movement. Deductible: 5% – 15% of Coverage A. Available in eligible zones only.
• Fine Art Floater — Worldwide, agreed-value, all-risk coverage for fine art, antiques, and collectibles. Covers breakage, mysterious disappearance, and transit. No deductible.
• Domestic Staff Liability Endorsement — Extends personal liability coverage to include claims by domestic employees. Limit: $1,000,000 per Occurrence.
• Home Systems Protection — Covers mechanical and electrical breakdown of home systems including HVAC, electrical panels, plumbing, and smart home technology. Limit: $500,000. Deductible: $1,000.
• Cyber & Identity Theft Protection — Covers expenses related to identity fraud, cyber extortion, and data breach. Limit: $250,000. Deductible: $500.

Regulatory Information¶

Apex Financial Partners Insurance Company is domiciled in Delaware and licensed in all 50 states, the District of Columbia, and the U.S. Virgin Islands. NAIC Company Code: 99201. AM Best Rating: A+ (Superior), Financial Size Category XV.

For questions or complaints regarding this Policy, contact Apex Private Client Services at 1-800-555-APEX (2739) or email claims@apexfinancialpartners.com. If you are dissatisfied with the Company's response, you have the right to contact your state's Department of Insurance.

Delaware Department of Insurance: 1351 W. North Street, Suite 101, Dover, DE 19904 | Phone: (302) 674-7300

The Company participates in applicable state property and casualty insurance guaranty funds. Guaranty fund coverage is subject to statutory limits and conditions.

This Policy form has been filed with and approved by the insurance regulatory authorities in each state where it is offered. Policy provisions may vary by state in accordance with applicable law.

Apex Financial Partners Insurance Company | 200 Summit Avenue, Suite 3200 | Wilmington, DE 19801 | NAIC #99201