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R2016-110 AUTHORIZING CITY MANAGER TO EXECUTE INSURANCE COVERAGE FOR PROPERTY, LIABILITY AND WORKERS COMPENSATION
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R2016-110 AUTHORIZING CITY MANAGER TO EXECUTE INSURANCE COVERAGE FOR PROPERTY, LIABILITY AND WORKERS COMPENSATION
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9/26/2016 10:50:27 AM
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9/26/2016 10:50:01 AM
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Resolution/Ordinance
Res Ord Num
R2016-110
Res Ord Title
AUTHORIZING CITY MANAGER TO EXECUTE INSURANCE COVERAGE FOR PROPERTY, LIABILITY AND WORKERS COMPENSATION FOR THE CITY OF DECATUR, ILLINOIS FOR THE POLICY PERIOD OCTOBER 1, 2016 TO OCTOBER 1, 2017
Approved Date
9/19/2016
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City Of Decatur <br /> Program Details (Cc�nt.) <br /> Endorsements include, but are not limited to: <br /> . - - � <br /> Common Declarations Page <br /> Signatures <br /> - ---- -_ ---- ------------ <br /> Protected Self-Insurance Package Policy <br /> - ----------- ------ ------ <br /> Statutory Requirement Endorsement <br /> Service of Process—IL Endorsement <br /> __ __ � <br /> Endorsement—Contingent Tax Interruption Coverage <br /> If you choose to purchase Cap on Losses from Certified Acts of Terrorism <br /> Exclusions include,but are not limited to: <br /> . - - • <br /> Earth Movement Exclusion <br /> Flood Exclusion <br /> _ --_.. ___ _ --..__ __ ____... ____- _._..__. <br /> Government Action Exclusion <br /> War Exclusion <br /> --- -- <br /> Nuclear Hazard, Power Failure <br /> ----------------------- _......_ _____ <br /> ______-------- <br /> Date Related Losses ' <br /> Binding Requirements: <br /> � - - • <br /> Subject to Receipt of A signed and dated Terrorism Disclosure notice must accompany all binding requests <br /> designating an acceptance or rejection of quoted Terrorism coverage. <br /> Subject to Receipt of A signed and dated Application must be submitted to PSI Program Managers, a division of <br /> Risk Placement Services, Inc.within 30 days of binding <br /> Other Significant Terms and Conditions/Restrictions: <br /> . - • • <br /> Total Package TRIA premium includes Surplus Lines Tax Rate of$65.00 and Surplus Lines Stamping Fee Rate of <br /> $4.00 <br /> Note: Quotation is subject to receipt of signed and dated complete application prior to binding. Premium is subject to <br /> change if exposures have increased.This indication is based on Total Insured Value at$207,242,501 (expiring with <br /> 2.5%increase due to inflation), 534 employees, 247 autos, 74,701 population and 163 full-time police. <br /> PSI Program Managers(10.0%Program Management&Underwriting + 1.5%Claims Management) <br /> Insured's Loss Fund: $350,386 In the Aggregate Annually <br /> The Maximum Limit Of Insurance We Will Pay In Excess Of The Insured's Self Insured Retention For Part I B. - <br /> Clash Coverage Will Be: $750,000 <br /> Premium is minimum&deposit. Loss Fund is fully earned at Inception. Premium is payable in two equal ' <br /> installments due 10/1/2016 and 4/1/2017. i, <br /> Arthur J.Gallagher Risk Management Services,Inc. <br /> 1G <br />
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