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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 /> Other Significant Terms and Conditions/Restrictions: <br /> � - - • <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. <br /> Total Package Premium,Surplus Lines Tax Rate, Surplus Lines Stamping Fee Rate and Fire Marshal Tax applies <br /> for Property, General Liability Including Automobile and Law Enforcement Liability, Employee Benefits Liability and <br /> Errors and Omissions coverages. <br /> Self Insured's—Proof Of Financial Responsibility;Automobile: <br /> When an entity is self-insuring for limits that meet or exceed a state's Financial Responsibility requirements, there <br /> are various ways they can meet the proof of insurance requirements. In some states,the DMV(Department of <br /> Motor Vehicles)issues an Automobile ID card to the self-insurer showing the self-insurer as the carrier and their <br /> assigned self-insurance number as the policy number. In others,the self-insurer receives a memorandum of self- <br /> insurance that they carry in their vehicles as proof of insurance. <br /> Therefore,the excess insurance carrier providing insurance above the Financial Responsibility requirements, should <br /> not be evidenced on the Automobile ID card. All producers and brokers placing business for an entity that is self- <br /> insuring for limits that meet or exceed a state's Financial Responsibility requirements should not issue Automobile <br /> ID cards showing <br /> the excess insurance carrier. <br /> An entity that is self-insuring for limits that meet or exceed a state's Financial Responsibility requirements, including <br /> one that is exempt from the FR requirements, needs to contact their Department of Motor Vehicles for guidance on <br /> handling the proof of insurance requirements. <br /> Premium INCLUDED <br /> Taxes INCLUDED <br /> Fees INCLUDED <br /> ESTIMATED PROGRAM COST INCLUDED <br /> Minimum Premium- 100.00% <br /> TRIA/TRIPRA PREMIUM INCLUDED <br /> (+Additional Surcharges, Taxes and Fees as applicable) <br /> Subject to Audit: Not Auditable <br /> Arthut J.Gallagher Risk Managemcnt Services,[nc. <br /> 20 <br />
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