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R2020-125 Resolution Authorizing Property and Liability Insurance Coverage for the City of Decatur Illinois for the Policy Period October 1, 2020 to October 1, 2021
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R2020-125 Resolution Authorizing Property and Liability Insurance Coverage for the City of Decatur Illinois for the Policy Period October 1, 2020 to October 1, 2021
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9/29/2020 10:40:30 AM
Creation date
9/29/2020 10:40:21 AM
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Resolution/Ordinance
Res Ord Num
R2020-125
Res Ord Title
R2020-125 Resolution Authorizing Property and Liability Insurance Coverage for the City of Decatur Illinois for the Policy Period October 1, 2020 to October 1, 2021
Department
Finance
Approved Date
9/21/2020
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City Of Decatur Gallagher <br /> •CURE 360' <br /> Exclusions include,but are not lim ited to: <br /> • <br /> �ar Exclusion <br /> clear Hazard, Pow er Failure <br /> Protection of Property Expense -Exclusion and Underlying Insurance Limitation" applies <br /> The Exclusion -"Certain Computer Related Losses Due to Dates or Times" Applies <br /> The Policy Includes an Exclusion of Nuclear Hazard, Fungus, Wet Rot, Dry Rot and Bacteria, War, Military Action, Electronic <br /> Vandalism and Pathogenic or Poisonous Biological or Chemical Materials <br /> The Exclusion -"Loss Due to Virus or Bacteria" applies <br /> Frame Builder's Risk Projects are Excluded <br /> Auto Physical Damage Exclusion <br /> Binding Requirements: <br /> e a. • <br /> Subject to <br /> -Travelers Surplus Lines Disclosure Form <br /> -Forw and a Copy of the Completed Primary Policy for our Review and Acceptance Within 60 Days of the Effective Date of <br /> Coverage <br /> -Review of an Updated Loss History at the Time of Binding <br /> Other Significant Terms and Conditions/Restrictions: <br /> Total Insured Values:. <br /> -PD: $195,183,194 <br /> -BI: $7,197,958 <br /> Total: $202,381,152 <br /> Our participation is subject to us w riting 100% of the authorized line(s). If more than one option is presented this would apply <br /> to any single option. Please contact us if you would like to discuss alternatives <br /> 125.00% Margin clause applied per location to: Building/BPP/BI <br /> Federal Terrorism Risk Insurance Act Disclosure <br /> - The charge for such Insured Losses is included in the total premum for this policy. The charge that has been included for <br /> such Insured Losses under this policy is the amount indicated below,and does not include any charge forthe portion of such <br /> Insured Losses covered by the Federal Government under TRIA: Option 1:$0 <br /> -This Coverage May be Declined. If Declined, The Premum for This Policy Will be : Option 1: $83,583 <br /> Premium $85,409.00 <br /> ESTIMATED PROGRAM COST $85,409.00 <br /> Minimum Earned Premium - 25.00 % <br /> TRIA/TRIPRA PREMIUM $0.00 <br /> (+Additional Surcharges, Taxes and Fees as applicable) <br /> Subject to Audit:NfA <br /> 20 <br /> • <br />
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