R2002-185 AUTHORIZING AGREEMENT - Laserfiche WebLink

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, .� � � : � s : • AGREEMENT THIS AGREEMENT is made and entered into and effective this 1st day of October, 2002 by and between City of Decatur a corporation ("ClienY'), and ARTHUR J. GALLAGHER RISK MANAGEMENT SERVICES, INC., a Illinois Corporation ("Gallagher"). I. RECITAL Client desires to insure its (Note: London Package; Crime; Excess Property; Excess Work Compensation; Excess Liability 15� Layer; Excess Liability 2"d Layer risks and Gallagher desires to provide the required insurance brokerage services to Client. II. TERMINATION Either party may terminate this Agreement, with or without cause by providing thirty(30)days prior written notice to the other party. III. OBLIGATIONS OF GALLAGHER Gallagher will provide insurance brokerage services to Client and will use its best efforts to secure insurance required for the proper administration of ClienYs business. In the event an insurance company cancels or refuses to place the necessary insurance, Gallagher will use its best efforts � to obtain the coverage from another insurance company. IV. OBLIGATIONS OF CLIENT � A. Gallagher will be charging a fee of$40,000 for 2002/03; $40,000 for 2003/04 and $40,000 for 2004/05. (215 ILCS §5/507.1) B. In addition to the fees (commissions) provided herein, it is understood and agreed that other parties, such as excess and surplus lines brokers, wholesalers, reinsurance I intermediaries, underwriting managers, and similar parties, some of which may be owned in whole or in part by Gallagher's corporate parent, may earn and retain usual and customary commissions and fees in the course of providing insurance products to � client pursuant to this Agreement. Any such fees or commission will not constitute compensation to Gallagher under Section IV.A. above. C. Gallagher from time to time enters into arrangements with certain insurance carriers or those carriers' reinsurers providing for compensation, in addition to commissions, to be paid by such carriers or reinsurers to Gallagher or its affiliates based on, among other things, the volume of premium and/or underwriting profitability of the insurance coverages written through Gallagher by such carriers or reinsurers. In addition, Gallagher and its affiliates provide management and other services to, and receive compensation for those services from, certain reinsurers that reinsurer insurance coverages written through Gallagher by other insurance carriers. The insurance coverages you purchase through Gallagher might be issued by an insurance carrier or reinsured by a reinsurer that has such a relationship with Gallagher or its affiliates. D. If any amount is not paid in full when due, including premium payments to insurance companies, that nonpayment will constitute a material breach of this Agreement that will allow Gallagher to immediately terminate this Agreement, at its option, without notice to Client. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date first written above. Arthur J. Gallagher Risk Management Services, City of Decatur Inc. BY� •�i�.�-� / �!� ' By' �� _ ' Agreelns.doc �y99