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California Fair Services Authority (CFSA) administers the Pooled
Property Protection Program partially funded by the California Department of Food and Agriculture's Division of Fairs and
Expositions, and offered exclusively to California's fairs. Fair premiums, based on individual fair property values and any options selected, make up the difference between the Division's contribution and the total premium cost. Applied loss modification factors will reward fairs with good loss histories, while assessing higher fees to fairs with above-average loss histories (focusing on the frequency of incidents rather than their severity).
The Division also requires all participating fairs to carry at least $100,000 of contents coverage; higher limits are available. Each fair is responsible for the cost of this additional
protection.
The Property Protection Program protects all fair buildings located at the District
Agricultural Association fairs (DAAs), the California State Fair
and Exposition, some county fairs and two citrus fruit fairs. Each
individual fair is responsible for its own per loss deductible.
Participation in the program is voluntary; however, the Division of Fairs and Expositions requires all non- participating fairs to show proof of insurance equal to the pooled Property Program's coverage. Fairs not participating in the program are ineligible for assistance with deductibles associated with commercial policies purchased by the fairs on their own behalf.
Deductible Buy Down Option (for real property):
Fairs have the option of reducing their program deductible for real property (buildings) from a maximum of $50,000 down to $25,000 for an additional fee.
The program provides:
- All-risk
protection for buildings - $1,000,000,000 per occurrence, subject
to a deductible.
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Flood protection for buildings not located in a designated flood
zone - $50,000,000 per occurrence/annual aggregate, subject to
a deductible.
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Flood protection for buildings located in a designated flood zone
- $500,000 per occurrence, subject to a deductible.
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Acts of terrorism protection - $100,000,000 per occurrence, subject
to a deductible.
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Boiler and machinery protection for covered objects at fairs - $100,000,000
per occurrence, subject to a deductible of $2,500 per loss.
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Business personal property coverage - Limits selected by fairs,
subject to a deductible of $25,000 per loss.
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Valuation Basis - Actual replacement.
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Protected Values: Buildings at all covered fairs - $730,393,864
based on 2010 values; business personal property at all covered fairs
- $33,021,087.
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Earthquake Coverage - None.
If you have specific questions regarding the Pooled Property Protection
Program, please contact Charlie
Mitchell.
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