05.05.2023.FINAL ANNUAL REPORT

INSURANCE Michael Azeez, Chairperson Jonathan Nelson Stephen Parks Mark Rosenbaum Marc Spiro

The Florida insurance market continues to be a challenge. Named and non - named storms created property and casualty losses for the insurance industry and have impacted rates and availability of coverage. Additionally, the tragic collapse of the Surfside Condo project also impacted liability coverage for property owners asso ciations. Many of you have probably seen this impact on your own Homeowners insurance. We expect the market to be chal lenging in 2023 but recent changes in Florida law could have a longer term benefit. Our insurance needs continue to be serviced by Tanenbaum Har bor of Florida. They shop our insurance each year with reputable carriers, review our coverage and deductibles. Once again, Zurich is our lead insurer. This is a program that was designed to provide coverage of our needs at Frenchman ’ s Creek which includes Property, General Liability, Auto, Cyber , Executive liability and Umbrella liability policies. We made adjustments to the coverage and limits to mitigate costs while maintaining an appropriate level of insurance. There where increases in some areas, but they were offset by the removal of the clubhouse as demolition was started. Overall, our insurance costs decreased by 4%, but we would an ticipate increases for 2023 due to market conditions.

We also looked at the various assets of the Community that aren ’ t covered by insurance - either the insurance is not available or it is prohibitively expensive. At the recommendation of the Commit tee, the Board created a self insurance fund of 1.5 million dollars to provide for damages to items that are not covered by insurance. This does not cover all of the values, but provides a source of funds if we experience some storm damage. Workman ’ s Comp insurance was renewed with Zenith. Our work history and loss mitigation efforts resulted in a rate decrease of 12%. In addition, we receive a dividend of 15% as part of the program with Zenith. That program was renewed for 2023. Zen ith has routine loss control visits and Tanenbaum Harbor contin ues to monitor all of our claims to help us mitigate any exposures. I would like to thank our Committee for their efforts, our staff for their mindfulness and the team at Tanenbaum Harbor for their continued professionalism in navigating the insurance market place.

Michael Azeez, Chairperson Insurance Committee

LINK Suzanne Speiser and Adele Fine, Chairpersons Lesley Koeppel and Linda Jacobs, Co - Chairpersons Jill Kremer, Board Liaison

Sara Bernstein Nancy Citrin Mary Lou Cocci Mark Cooper

Lynne Cooper Linda Eigner Arlene Feldman Debbie Hershman Robyn Rosenblatt

Joan Sclar Melanie Shulman Phyllis Shustak Helene Shuter

The LINK Committee was an incredible success this year. While still dealing with COVID and no clubhouse, all new members were connected to a LINK buddy who helped them integrate into the community – socializing with other new mem bers, participating in golf, tennis and card games. We were able to host a cocktail party for all of the newest members and their buddies which was a tremendous success.

The LINK committee continues to plan events into small cocktail parties and dinners while putting into effect procedures for all new members to continue to get the support and guidance from our committee members.

Suzanne Speiser and Adele Fine Chairpersons Lesley Koeppel and Linda Jacobs, Co - Chairpersons Link Committee

2022/2023 Annual Report Page 18