INSURANCE MANAGER ALLOCATION

Water and Power Employees' Retirement, Disability, and Death Benefit Insurance Plan
INSURANCE STATUS FOR INVESTMENT MANAGERS - RETIREMENT FUND
July 11, 2014
MANAGER
DOMESTIC EQUITY
ALLOCATION
INSURANCE STATUS
INSURANCE
EXPIRATION
DATF
Fully Approved
12/01/14
33%
PASSIVE ( RUSSELL 1000 Index)
BlackRock Investment
•
ACTIVE LARGE CAP
Fully Approved
Fully Approved
Fully Approved
11/01/14
08/31/14
10/01/14
Fully Approved
Fully Approved
09/01/14
04/06/15
Fully Approved
9/30/14
Fully Approved
12/01/14
Professional and Crime Expired
Fully Approved
07/01/14
11/01/14
Fully Approved
Professional and Crime Expired
03/31/15
05/08/14
Fully Approved
Fully Approved
04/01/15
02/24/15
Fully Approved
Fully Approved
09/30/14
04/01/15
Fully Approved Insurance. Cert. of liability us under Federal&Great Northern Ins.Co. ; Fiduciary fidelity
Bond AN. SIMM: Umbrae Liab $25MM; Primary VCAP-D&O/E&O $151AM Ago
(3) Professional and crime espied. Venture Capital Asset Protection Pol. SlOMM;Excess VC Asset
Protection 55MM.S5MM; Fthencial hstituticn Bond Policy, 510MM aggliablirly/Single Loss limit $5MM,
under Federal insurance Company, US Specialty Ins. Co.. & Twin City Fire insurance Co.
02/14/15
MFS Institutional Advisors, Inc.
T. Rowe Price Trust Co.
Fred Alger Management Inc.
ACTIVE SMALL CAP
Earnest Partners
Frontier
COVERED CALLS
5%
Gateway
INTERNATIONAL EQUITY
21%
PASSIVE (MSCI WORLD-ex US IMI ND Index)
BlackRock Investment
DEVELOPED MARKETS
Pyramis
MFS Institutional Advisors, Inc.
EMERGING MARKETS
L.A. Capital
Vontobel
FIXED INCOME
24%
CORE FIXED INCOME
Wells Capital Management
JP Morgan
HIGH YIELD
Loomis, Sayles and Co.
Wells Capital
ALTERNATIVE INVESTMENTS
PRIVATE EQUITY
5%
Lexington Capital Partners
Landmark
ProfessionaVLiabilqy insurance St MM h egg with Safety Nail lin-lomat/an Casualty Co.; 51MM-S4MM
h aoo General tab' Lines of [Jab 52MM h avg.
Civil Liab in, XL Insurance Switzerland: GNI! Liability SOCIMM any single loss/all loss; Dir&Officers Liab
Fisher Lynch
Capital Dynamics (formerly HRJ Capital)
06/15/14
10/01/14
08/24/14
530MM; Comprehensive Crime Liab 53MM; cal Liability £4001E D&O Libility 5400k ea shot° chin;
Comprehensive Crime SACK* one single loss.
Missing Crime insurance. Fill Institution/Bond ins. egg SiOOMM/S5OMM under Federal Ins. Co. &
Westchester Fire Ins. ERISNFiduciary $150MM under federal Ins/CNA Ins.; Primary D&O/E&O/Excess
Oakiree
D&O/E&O ins. Agg SlOMM under Itinois Union Ins/Axis Ins., etc. 4/9/14.
D&O, E&O, EPLI and Fiduchry/Excess 510MM each ;Crime 52M with Houston Casualty Cap.
AUdaX Mezzanine
Excess Fiil Inst E&O 'jab S1OMM excess of $2OMM with Asia Insurance; Agg Liab Ins. S2MM with
federal Ins. Co.:Excess Liab bilder S10MM with XL specify Ins. Co.
Crime Fidelity S2MMrofessional Liability & management liability insurance $15MM, with Federal
Insurance Company/Twin Gip/ Fire Ins; Co;
Tot Professional Witty Ins. ID&O/E&O$130MM link, Retentions S2MM; 1380 (Side A 010) 520MM;
Fidelity Bald Lability Mat 520MM, Agq lint $40MM, Retentions $150k
D&O/E&O $10 ration Liability Limits, Deducthiefretenticn 54.25 million per claim thru hdhn Harbor Ins.
EnCap
Vista
ARES
SILVERLAKE
5/1/2014; 4/9/2015
01/09/15
01/23/15
1201/14
11/25/14
10/11/14
Co.
REAL RETURN
6%
WAMCO
INVESCO COMMODITIES
HANCOCK TIMBERLAND XII
$25MM Professional Indemnity, fully approved, $10MM deductible each claim.
Prirnary General Liabigly,C52 ration (-USS2 million) 05/15/2015; Directors & Officers (D&O)Manutle -
GAM
Bond: Chubb Insurance Company - USS25MM, Great American Insurance Company- US$17.5MM xs
UogvAMM; ACE INA Insurance Company -11557.5MM x$ $42.5MM, 03/31/2015
Financial Institution Bald, Coverage afforded for Fidelity, Premise, Transit, Counterfeit Currency,
Fully Approved
CS300 million 03/31/2015; Professional Liability (E&O), USS20 ninon, 03/31/2015; Fhancial Institution
Forgery or Alteration, or Securities ($5,000,000 subject to a $100.000 deductible for each and every
loss$10,000,030 Annual Aggregate. Effective until Sept. 30, 2014.
• A combined Professional Indemnity & Crime (PAC) insurance policy -being a cams-made policy and
having a policy period from I June 2014 to 31May 2015 - which provides insurance coverage for (1)
wrongful professional act h rendering or failing to render professional Jimmie! services, (2) criminal act
of any employee, (3) fraudulent act of any other person, end (4) electronic crime (computer fraud,
telephone mg fraud or computer virus damage) caused by any other person; and
• A Directors & Officers (D&O) insurance policy - being a claims-made policy and having a policy period
from 1 June 2014 to 31May 2015- which provides the following insurance coverage: Side A (cover for
personal liability of directors & officers as individuals against claims for, the consequences (reasonable
and necessary defence costs Including costs generated by admhistrative and crirnhal proceedings or
in the course of hvestigations by regulators or Criminal prosecutors], and financial lasses) of, actual or
alleged wrongful acts (except Wild or htentional acts) when acting in the scope of their managerial
duties), Side B (company reimbursement cover), and Side C (securities entity cover).
Morgan Stanley
Currently Obtaining Insurance Information.
jtelinwnent Staff is worldnq with Risk Management to obtain the required documentation from investment managers
111 Three notilicatkc attempts made by Risk Manaoement file now closed arid archived.
(2) Per Board Resolution 0643, insurance is recommended. but not resulted ffecorrrnendedIA6CAlfor the investment managers of real estate, private equity. and hedge funds.
(3)
(4)
However. most of these companies have not candied per Risk Mannoentants database and efforts.
Risk Management Final Renewal Remhder loner sent out.
RM sent correction letter
03/15/15
7/31/14
Water and Power Employees' Retirement, Disability, and Death Benefit Insurance Plan
INSURANCE STATUS FOR INVESTMENT MANAGERS - RETIREMENT FUND
July 11, 2014
MANAGER
REAL ESTATE
PRISA
PRISA II
INSURANCE
EXPIRATION
❑ATF
5%
Same as PRISA II
Gen.Liabirily $1 mil per occurrence; Contractual Liability $1 mil; Premises & Prop. $1 mil
per nnnurrence; Injury & Personal Injury aggregate $1 mil; Crime $1 mil per occurrence
Fully Approved. Professional Approved Gen.Liability $2 mil per occurrence;
Products/Completed Operations $2 mil; Damage to prop. $1 mil per occurrence; Injury
& Personal Injury aggregate $1. mil;Darnage to Premises rented $1 mil; Auto Liability $1
mil; All risk limit $600k per occurrence
Gen.Liability $2 mil per occurrence; E & 0 $5 mil limit per claim; Damage to prop. $1 mil
per occurrence; Workers comp $1 mil per accident; Collision limit $1 mil per occurrence
J P Morgan
CB Richard Ellis
$5 million of aggregate limit Directors and Officers, Errors and Omissions, and Fiduciary
Liability coverage through CV Starr and $2 million aggregate limit Employment Practices
Liability coverage through Charts. In addition, $1 million aggregate Mortgage Errors and
Omission coverage is provided through various Mortgage Banker Bonds issued by
various underwriters in favor of Mesa West's sponsored funds various Califomia lenderlicensed entities
$100MM aggregate Umbrella; $1MM E&O; $1MM Crime (including employee
dishonesty)
$130MM aggregate limit of Directors and Officers Liability/Partneship
Liability/Professional Liability. $0 Deductible on non-indemnifiable claims; $1 MM on
indemnifiable claims.
Same as immediately above
Approved-Professional (1) - Fidelity Bond - $25 MM coverage; E&O - $25 MM
aggregate; Directors and Officers -$25 MM aggregate.
Professional and D&O - $10MM aggregate limit
Umbrella/Excess Liability - $100 MM aggregate (including $1MM occurrence, $2MM
aggregate GL); Directors and Off icers/E&O - $30 MM aggregate; $1MM Fiduciary Bond,
$10 MM; $5 MM Financial Institution Bond;
Currently obtaining insurance information. See Note (2) below.
Umbrella/Excess Liability - $2MM aggregate; Management Liability - $10 MM aggregate;
$10 MM Financial Institution Bond.
Currently obtaining insurance information. See Note (2) below.
Fully Approved
Currently obtaining insurance intomiation. See Note (2) below.
Fully Approved
Mesa West
Bristol Value II
Lone Star RE Fund II
Lone Star Fund VII
Invesco Core Realty (Invesco Global Asset
Management)
DRA Growth and Income Fund VII
PCCP First Mortgage II
AG Core Realty Fund III
Almanac Realty Securities Fund VI
Blackstone Real Estate Partners VII
Dimensional Fund Advisors
Torchlight Debt Opportunities Fund IV
Heitman
TOTAL
INSURANCE STATUS
ALLOCATION
100%
2/24/2015
7/31/2014
10/31/2014
6/29/2015
'Includes 1% Cash Allocation
DATE
TERMINATED MANAGERS
DEVELOPED MARKETS
Invesco Advisors
The Boston Company
EMERGING MARKETS
T. Rowe Price Trust Co.
The Boston Company
REAL RETURN
AETOS
PAAMCO
Fully Approved
Fully Approved
07/31/14
12/01/14
Fully Approved
Fully Approved
08/31/14
12/01/14
Fully Approved
Closed
08/22/14
flefiremeM Staff Is working with Risk Management to obtain the required documentation from investment managers
ill Three notification ammo's made by Risk Management (RMI. We now closed and archived.
(2) Per Board Resolution 06-43, insurance is recornmended, but not required (recommended by PCA) for the investment managers of real estate, private equity. and hedge funds.
However. most of these corroanies have not complied Der Risk Management's database and °Irons.
(3) RM Renewal letter sent out,
141 RM sent correction letter
6.2

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