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R2015-112 ACCEPTING THE BID AND AUTHORIZING A CONTRACT Lancer Insurance & Admiral Insurance
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R2015-112 ACCEPTING THE BID AND AUTHORIZING A CONTRACT Lancer Insurance & Admiral Insurance
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Last modified
9/30/2015 8:47:19 AM
Creation date
9/30/2015 8:47:18 AM
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Resolution/Ordinance
Res Ord Num
R2015-112
Res Ord Title
ACCEPTING THE BID AND AUTHORIZING A CONTRACT WITH LANCER INSURANCE CO. AND ADMIRAL INSURANCE CO. FOR TRANSIT LIABILITY INSURANCE
Department
Finance
Approved Date
9/21/2015
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.■ <br /> INSUF�ANCE BONDS <br /> .�1 S<�v Capital Companv <br /> • <br /> • • � • � • <br /> General A¢¢re¢ate <br /> The Gentral Aggregate limit is t6e most money the insnrer will pay under a certain coverage for all claims occurring <br /> during the policy term. <br /> Premises/Oaerations <br /> Coverage is provided for damages arising out of owoers6ip or oceppancy of t6e insured premises when not <br /> maintained in a reasonable manner. This also covers damages arising out of operations performed by the insured <br /> business. <br /> Prodacts/Comoleted Ooerations <br /> Products coverage is provided for damages arising out of products manafactured,sold,6andled or distributed by the <br /> iasured. Completed Operafioos covers damages occurriag after operations have been completed or abandoned,or <br /> after an item is installed or bailt and released for its intended purpose. <br /> Medical Exuense Limit <br /> Medical payments coverage pays medical expenses resultiog from bodily injary caused by an accident on premises <br /> owned or rented by the insured,or locations next to such propeMy,or when caused by the insared's operations. <br /> These payments are made without regard to t6e liability of the insured. <br /> Fire Damaee Limit <br /> The Fire Damage Limit provides coverage for fire damage caused by negligence on the part of t6e insured to <br /> premises rented to the named insared. If a fire occurs because of negligence of the iasured and causes damage to <br /> property not rented to the insured,coverage would be provided under the occurnnce limit <br /> PersonalIniury <br /> Persoaal lnjury means injury other t6an bodily injury. Coverage is provided for injury resulting from offenses such <br /> as false arrest,malicious prosecution,detentioa or imprisonmeat,the wrongful entry into,wrongfal eviction from <br /> and ot6er acts of invasion,or rights of private occupancy of a room. Coverage for libel and slander is also provided <br /> in the policy. <br /> Advertisioe Iniurv <br /> T6is coverage pays for damages done in the course of orsl or written advertisement that disparages,libels or <br /> slanders a person's or organization's goods,products or services. Coverage for these offenses is provided under <br /> advertising injury coverage only if they occur during tLe course of advertising t6e named insured's own goods, <br /> products or services. <br /> Each Occurrence <br /> Each accident is coasidered to be sn occurrence,which could include contiauous or repeated expusure to the same <br /> harmful conditions. An occurrence can also be a sudden eveat,or a result of a long term series of evenis. <br /> 7 <br />
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