Property Management Exclusion
In consideration of the premium for which this Insurance is written it is understood and agreed that section IV of the Policy is hereby amended as follows:
Exclusion N is deleted in its entirety and replaced with the following:
any Claim arising directly or indirectly out of the Assured's activities in any trade, business or profession other than a Fiduciary, including without limitation activities as a lawyer, accountant, property manager, nurse or other health care provider, securities broker, mortgage banker, mortgage broker, independent third party escrow agent, real estate and/or construction advisor, real estate and/or property appraiser, real estate and/or property developer, insurance agent or insurance broker, or activities involving property syndication, real estate investment trusts, limited partnerships or similar investments.
This exclusion shall not, however, apply to any Claim arising directly or indirectly out of the Assured's performance of Professional Services simply because such or similar services could be rendered by a lawyer, accountant, independent third party escrow agent, nurse or other health care provider.
All other terms and conditions of the Policy remain unchanged.
Property Management Exclusion (08/20)