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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 (Cont.) <br /> Endorsements include, but are not limited to: <br /> . - • • <br /> Protected Self-Insurance Package Policy <br /> Statutory Requirement Endorsement <br /> Service of Process-IL Endorsement <br /> _- -- --- --- — -------- <br /> Endorsement-Contingent Tax Interruption Coverage <br /> _ _ - -- --- <br /> If you choose to purchase Cap on Losses from Certified Acts of Terrorism <br /> - <br /> Endorsement-Uninsured/Underinsured Motorist Coverage <br /> Exclusions include,but are not limited to: <br /> . - • <br /> Pollution <br /> Wa r <br /> Nuclear <br /> Defense Limitations: <br /> � • �• . <br /> . • <br /> • <br /> Applies N/A Within Policy Limits(expenses erode policy limit) <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 /> Subject to Receipt of Signed UM selection/rejection forms prior to 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 WII Pay In Excess Of The Insured's Self Insured Retention For Part I B. - <br /> Clash Coverage Will Be: $750,000 <br /> Arthur J.Gallagher Risk Management Services,Inc. <br /> 19 <br />
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