Loading...
HomeMy WebLinkAboutResolution - 2024-R0108 - Inland Marine, Pipeline Liability, Crime, Drones Hull And Liability Insurances - 03/05/2024Resolution No. 2024-RO108 Item No. 5.7 March 5, 2024 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City Manager of the City of Lubbock is hereby authorized and directed tc purchase for and on behalf of the City of Lubbock, inland marine insurance coverage from Travelers Lloyd's Insurance Company, for which the p:-emium amount shall not exceed $19,305.00; pipeline liability insurance coverage from Fed ra. 1P.aurance Company, for which the premium amount shall not exceed $5,150.00; crime insurancc coy c_-a��c lrOm Travelers Casualty & Surety Company of America, for which the premium amount shall : o::�\Ceed $7,626.00; and drones hull and liability coverage from Global Aerospace, Inc., for which the premium shall not exceed $18,131.00, and THAT the City Manager may execute any routine documents and forms associated wi said insurance coverage. Passed by the City Council on SHELIA-VATTERSON HA.RRIS, MAYOR PRO TEM ATTEST: Courtney Paz, City e'cret APPROVED AS TO CONTENT: D. Blu Kosteli , Chief Fina fficer APPROVED AS TO FORM: JeirflaFtsk, Deputy City Attorney vw:ccdocsll/RES.Risk Mgmt-Travelers Lloyds Ins. February 26, 2024 Resolution No. 2024-RO108 Inland Marine Insurance Company: Travelers Lloyds Insurance Company Policy Term: 04/01/2024 to 04/01/2025 Coverage: Inland Marine provides coverage to mobile or specialized types of property such as construction equipment, medical diagnostic equipment, fine arts, and a wide variety of other types of property. Annual Premium: $19,305.00 FINE ART - MUSEUM CM Ti 42 Museum Coverage Form Location Level Conditions, Coverage and Limits Location: 1 Building: 1 Address: Per schedule on file with us Lubbock, TX Description of Premises: Various locations owned or operated by you per schedule on file with Company, Coverage Property at your premises Flood Earth Movement Location: 3 Building:3 Address: Exhibits at your premises Description of Premises: Exhibits at your premises. Limit of Insurance $6,099.392 ND Coverage No Coverage Coverage Limit of Insurance Property at your premises $250.000 Flood No Coverage Earth Movement No Coverage Coverage Level Conditions, Coverage and Limits Property at any other location $500.000 Property in transit $250.000 Deductible: $2,500 Annual Rate Annual Premium $0.1910 $1 1,650 Annual Rate Annual Premium Included Included This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date; 02/22/2024 Prepared For City of Lubbock Confidential. (c 2021 USI Insurance Services. All rights reserved. �m �9 Valuation Current Market Value Additional Coverages Debris Removal Pollutant Cleanup and Removal Parcel Post and Registered Mail Expediting Expenses Inventory. Appraisals and Loss Adjustment Expenses Fire Department Service Charges Refilling of Fire Protective Devices U.S. Indemnity Deductible Coverage Currency Fluctuation Pairs and Sets Other Terms and Conditions CM T3 54 — Earth Movement Exclusion CM T3 56 — Flood Exclusion Limit of Insurance Up to 250/0 ! $25,000 Up to $25.000 Up to $ 1.000 per package ! $25.000 per occurrence Up to $25.000 Up to $10,000 Up to $5.000 Up to $5,000 Up to $400.000 Included included This proposal is merely a descriptive summary or coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. @ 2021 USI Insurance Services. All rights reserved. a� 10 COMMUNICATIONS COVERAGE Communications Coverage Form CM T2 45 COVERAGE AND LIMITS OF INSURANCE Communications Towers Covered Property consists of the following when indicated by an 'X' below: ] Scheduled Towers: (j As shown on the Communicatians Towers Schedule. As shown on the most current schedule on file with us. The amount shown for each tower on the applicable schedule is the Limit Of Insurance applying to that tower. Total Limit Of Insurance For All Scheduled Communications Towers: [ ] Unscheduled Towers: Total Limit Of Insurance For All Unlisted Towers: Limit Of Insurance For Any One Unlisted Tower: Limlt Of Insurance For Any One Location: Description Of Location Or Unlisted Towers: Total Limit Of Insurance For All Scheduled And Unscheduled Communications Towers: Transmitting Or Receiving Equipment At A Premises Covered Property consists of the following when indicated by an 'X' below: [X] Scheduled Equipment: ( j As shown on the Transmitting Or Deceiving Equipment Schedule. [X] As shown on the most current schedule on file with us. The amount shown for each item of equipment on the applicable schedule is the Limit Of Insurance applying to that item of equipment. Total Limit Of Insurance For All Scheduled Transmitting Or Receiving Equipment: [X] Unscheduled Equipment: Total Limit Of Insurance For All Unlisted Equipment: Limit Of Insurance For Any One Unlisted Equipment Item: Limit Of Insurance For Any One Location: Description Of Location Or Unlisted Equipment: Scheduled equipment at Silent Wings Museum and Buddy Hotly Center. Unscheduled equip from Tarpley Media Systems Total Limit Of Insurance For All Scheduled And Unscheduled Transmitting Or Receiving Equipment: $ t 67.933 $715.423 $6,000 $690-000 $553, 3556 This proposal is merely a descriptive summary of coverage provided by the insurance Companies being proposed and should be used For reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. CP 2021 USI insurance Services. All rights reserved. USI Mobile Or Portable Transmitting Or Receiving Equipment Covered Property consists of the following when indicated by an X below: [ ] Scheduled Mobile Or Portable Equipment: [ ] As shown on the Mobile Or Portable Equipment Schedule. [ ] As shown on the most current schedule on file with us. The amount shown for each item of mobile or portable equipment on the applicable schedule is the Limit Of Insurance applying to that Item of mobile or portable equipment. Total Limit Of Insurance For All Scheduled Mobile Or Portable Equipment: [X] Unscheduled Mobile Or Portable Equipment: Total Limit Of Insurance For All Unlisted Mobile Or Portable $883.356 Equipment: Limit Of Insurance For Any One Unlisted Mobile Or Portable $6,000 Equipment Item: Limit Of Insurance For Any One Location: $690.000 Description Of Location Or Unlisted Mobile Or Portable Equipment: Scheduled equipment at Silent Wings Museum and Buddy Holly Center_ Unscheduled equip from Tarpley Media Systems. Total Limit Of Insurance For All Scheduled And Unscheduled Mobile And Portable Equipment: $883,356 Total Limit Of Insurance For All Covered Property The most we will pay in any one occurrence for all Covered Property shown in this proposal: $1.595.779 DEDUCTIBLE Deductible applying to all covered loss or damage unless a more specific deductible for the covered loss or damage is shown in the Communications deductible Schedule or elsewhere In this proposal: $2.500 VALUATION: Actual Cash Value COINSURANCE The following coinsurance applies when indicated by an X: [ ] 100% [ ] 90% [ ] 80% [X] No Coinsurance Applies REPORTS AND PREMIUM: Minimum Earned Premium: None Non -Reporting or Reporting applies as indicated by an X below. [X] Non -Reporting: $7,655 Premium [ ] Reporting: See Communications Reporting Endorsement This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City or Lubbock Confidential. Cc, 2021 USI Insurance Services. All rights reserved. ®, 12 Coverage Extensions Limit of Insurance Expediting Expenses: $25,000 Fine Ali: $50,000 Fire Protection Systems: $75,000 Newly Acquired Or Constructed Property: $250.000 Personal, Effects. $2.500 Tower Collapse Damage To Buildings That Are Not $25.000 Covered Property: Tuning Of Towers: $50,000 Valuable Papers And Records: $50.000 Additional Coverages Claim Data Expense: $5.000 Debris Removal Increased Limit: $25,000 Fire Or Police Department Service Charge: $25.000 Ordinance Or Law: $100,000 Pollutant Clean Up And Removal — Annual $15.000 Aggregate: Preservation Of Property Expense: $25,000 Reward Coverage 250/. of covered loss up to maximum of: $2,500 Other Terms and Conditions CM U5 77 — Limited Coverage for Fungus, Wet Rot and Dry Rot $10,000 OTHER FORMS CM U6 17 Electronic Vandalism Limitation and Other Changes (CM U1 64 in NY}: 10,000 Aggregate Limit CM U6 41 Digital Assets Exclusions —Digital Currency and Non -Fungible Tokens IL T3 82 Exclusion of Loss Due to Virus or Bacteria (IL FO 63 In NY, IL FO E4 or IL EO 94 in AK) IL T4 12 Amendment Of Common Policy Conditions — Prohibited Coverage — Unlicensed Insurance And Trade Or Economic Sanctions (IL F1 23 in MD, IL F1 24 In AK) IL T4 14 Cap On Losses From Certified Acts Of Terrorism IL T3 55 Exclusion of Certain Computer Related Losses Due to Dates or Times (IL FO 22 in TX) PREMIUM SUMMARY Coverage Premium Communications $7.655 Fine Art Museums $1 1 ,650 Account Total $19,305 Excluded coverage or other coverages sought may be available: please discuss with USI Other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations, exclusions and sublimits that will govern in the event of a loss. This proposal is merely a descriptive summary of cov,�rage provided by the insur nce companies being proposed and should be used for reerenc,e purposes only; it is not a binder and does not amend or alter the insurance Contract. Please refer to -.he policy Contrart for Specific teens, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City cf I.ubbod, Confidential. (: 2021 USI Insurance Sel"ViCeS. .All rights reserved. ®�� 13 Federal Terrorism Risk Insurance Act Disclosure The federal Terrorism Risk Insurance Act of 2002 as amended ("TRIA") establishes a program under which the Federal Government may partially reimburse 'Insured Losses" (as defined in TRIA) caused by 'Acts Of Terrorism" (as defined in TRIA). "Act Of Terrorism" is defined in Section 102(1) of TRIA to mean any act that is certified by the Secretary of the Treasury — in consultation with the Secretary of Homeland Security and the Attorney General of the United States —to be an act of terrorism: to be a violent act or an act that is dangerous to human life, property, or infrastructure: to have resulted in damage within the United States. or outside the United States in the case of certain air carriers or vessels or the premises of a United States Mission, and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. The Federal Government's share of compensation for such Insured Losses is 80% of the amount of such Insured Losses in excess of each Insurer's Insurer Deductible" (as defined in TRIA). subject to the "Program Trigger" (as defined in TRIA). In no event; however. will the Federal Government be required to pay any portion of the amount of such Insured Losses occurring in a calendar year that in the aggregate exceeds $100 billion, nor will any Insurer be required to pay any portlon of such amount provided that such Insurer has met its Insurer Deductible. Therefore. if such Insured Losses occurring in a calendar year exceed $100 billion in the aggregate, the amount of any payments by the Federal Government and any coverage provided by this policy for losses caused by Acts of Terrorism may be reduced. For each coverage provided by this policy that applies to such Insured Losses, the charge for such Insured Losses is included In the premium for such coverage and is listed below. Such charges do not include any charge for the portion of such Insured Losses covered by the Federal Government under TRIA_ Coverage Included Charge For Insured Losses Commercial Inland Marilee 1% of the Commercial Inland Marine Coverage premium_ This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02122/2024 Preparecl for City of Lubbock FM��Confidential. 0 2021 USI Insurance Services. All rights reserved. ry 1 14 Pipe ne U aLbAR y Insurance Company: Federal Insurance Company Policy Term: 04/01/2024 to 04/01/2025 Coverage: Provides coverage for claims arising from an insured's liability due to damage or injury to others during performance of their duties or business. The loss can be reported years later, but the key is when it happened. Annual Premium: $5,150.00 Each Occurrence $1,000,000 General Aggregate $2,000,000 Products and Completed Operations Aggregate $1,000,000 Personal and Advertising Injury $1,000,000 Damage to Rented Premises (Each Occurrence) $1,000,000 Medical Expense $10,000 Deductible $2,500 Schedule of Exposures Additional Coverage: Non -Owned Aircraft (under 40 feet) Automatic Coverage for Newly Acquired Organizations (120 Days) Incidental Medical Malpractice Limited Worldwide Coverage Host Liquor Liability Operating Agents/Carried Interest/Non-Operating Working Interest Terrorism Provision Limitation to Designated Premises Project Designated Organization — Power -Tex Pipeline Power -Tex Pipeline —Additional Insured This proposal is merely a descriptive sun r, y of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a _m)Je; and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exduSions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. ®yl 15 Exclusions: Information Distribution Pollution Radioactive Material Architects, Engineering or Surveyors Professional Loss of Use of Electronic Date Asbestos Contamination Employment Related Practices Water Operations Underground Resources & Equipment Hazard Nuclear Energy Description Limit Deductible Employee Related Practices Exclusion Employees as Insureds Designated Premises Or Project Designat d Person or Organizations Cov-ProdL.ct',"Jithdrawal Expenses & Crisis Assistance $50,000 Exck..sion - f rgineers, Architects or Surveyors Professional Liability Radioactive `."latter Excl,.-sion Exclr-de _o-ai PoIIutiV.'tn A Hostile Fire Exeption Recall of Products, Work or Impaired Property Exclude Workers' Compensation or Similar Laws Terrorism Included Exclusion - Information Laws, Including Unauthorized Or Unsolicited Communications Exclusion - Asbestos, Silica Dust, Toxic Substance Exclusion -Asbestos Explosion, Collapse, and Underground PD Hazard Spe: is d Ops I xd Exclusion - Premises Or Ooerat ors -i, Cve-, Under Or Up,_�� Any UJater Exclusion - Electronic Data Alcoholic Beverage Tax Exclusion . ..... ......... ......._...... Exclusion Access or Disclosure of Confidential or Personal Information and Data Related With Limited Bodily Injury Exception Exclusion -War Exclusion - Enhancement, Maintenance or Prevention Expenses Intellectual Property Laws or Rights Exclusion Exclude Nuclear Energy Excluded coverage may be available for an additional premium. Other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations and exclusions that will govern in the event of a loss. This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. d� 16 Crime Coverage Insurance Company: Travelers Casualty & Surety Co. of Amer Policy Term: 04/01/2024 to 04/01/2025 Coverage: Travelers Crime coverage offers multiple insuring agreements to provide protection for exposures such as loss from forgery or alteration, employee dishonesty, loss of money and securities and reimbursement for claim expenses. Annual Premium: $7,626.00 I Description RetentionCoverage A — Fidelity 1. Employee Theft $2,000,000 $50,000 2. ERISA Fidelity Not Covered 3. Employee Theft of Client Property Not Covered B Forgery or Alteration $2,000,000 $2,000,000 $50,000 $50,000 C — On Premises D — In Transit $2,000,000 $50,000 E — Money Orders and Counterfeit Money $2,000,000 $50,000 F — Computer Crime 1. Computer Fraud $2,0001000 $50,000 2. Computer Program and Electronic Data Restoration Not Covered Expense G — Funds Transfer Fraud $2,000,000 $S01000 H — Personal Accounts Protection 1. Personal Accounts Forgery or Alteration Not Covered 2. Identity Fraud Expense Reimbursement Not Covered I —Claim Expense $5,000 j $0 $250,000 $50,000 Social Engineering Fraud Insured's Premises Covered: Worldwide LIMIT DETAIL: Shared Additional Defense Limit of Liability: N/A Crime Policy Aggregate Limit of Insurance: N/A Computer Fraud —Theft of money, securities or property by computer to fraudulently transfer covered property from your premises or bank to another person or place outside of your premises Employee Theft Coverage — Covers loss of or damage to money, securities and other property caused by employee dishonesty Forgery or Alteration — Covers losses resulting from forgery or alteration of checks or covered instrument Inside the Premises —Theft of Money and Securities - Covers losses by theft, disappearance or destruction Inside the Premises — Robbery or Safe Burglary of Other Property — Covers the robbery of a custodian and safe burglary Outside the Premises — Covers losses in the care and custody of a messenger or armored car This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terrns, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. m� 19 Applicable Forms & Endorsements Policy Forms CRI-2001-0109 Crime Declarations Page CRI-3001-0109 Crime Policy Form Endorsements ACF-7006-0511 Removal of Short -Rate Cancellation Endorsement CRI-19001-1111 Government Entity Crime Coverage Without Individual Exclusion Endorsement Employee Theft Per Loss Coverage Limit $2,000,000 Employee Theft Per Loss Coverage Retention $50,000 CRI-19062-0713 Sponsored Plan Endorsement CRI-19072-0315 Global Coverage Compliance Endorsement —Adding Financial Interest Coverage And Sanctions Condition and Amending Territory Condition CRI-19085-0919 Social Engineering Fraud Insuring Agreement Endorsement CRI-19095-0517 Replace Insuring Agreement E. Money Orders And Counterfeit Money Endorsement CRI-19096-0517 Amend Discovery And Amend Termination As To An Employee Endorsement CRI-19101-1117 Amendatory Endorsement for Certain ERISA Considerations CRI-19115-0519 Telecommunication Fraud Insuring Agreement Endorsement CRI-19122-1120 Delete Exclusion For Prior Losses Involving Subsidiaries Endorsement CRI-19134-0623 Replace Consolidation, Merger Or Purchase Of Assets And Acquisitions General Agreements Endorsement CRI-4019-0911 Texas Changes Endorsement CRI-5044-0613 Texas Cancellation or Termination Endorsement CRI-7053-0109 Extend Premises to Entire Plot of Ground Under Insured's Control Endorsement CRI-7059-0109 Amend Definition of Employee Endorsement CRI-7101-0109 Amend Definition of Employee to Include Independent Contractor Endorsement CRI-7126-0109 Government Entity Crime Endorsement - Faithful Performance of Duty Single Loss Limit $2,000,000 Single Loss Retention $50,000 CRI-7224-0517 Tax Liability Endorsement Forms and Conditions Settlement Basis ■ Money— Face value ■ Securities —Value on the day the loss was discovered ■ Property — Cost to repair or replace Discovery Period — Pays only for covered loss discovered no later than one year from the end of the policy period Records — You must keep records of all covered property to verify the amount of the loss Duties In The Event Of A Loss — Notify us as soon as possible, cooperate with investigation & settlement Excluded coverage or other coverages sought may be available: please discuss with USI other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations, exclusions and sublimits that will govern in the event of a loss. This proposal is merely a descriptive summary or coverage provided by the irIsurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the in-5urance contrail.:. Please refer to the policy ccntract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of tubbod, Confidential. «, 2021 USI InSUranCe Services. All rights reserved. ® I ZO , Drones e C ufl ,& Uabfluty Package Insurance Company: Global Aerospace, Inc. Policy Term: 04/01/2024 to 04/01/2025 Coverage: We will pay claims, for those sums that you become legally obligated to pay as damages, for bodily injury and property damage, resulting from the ownership, maintenance or use of the aircraft. Annual Premium: $18,131.00 2018 DJI Mavic Pro 08QCEBD022ASUA $400 2019 DJI Mavic 2 Pro 163CGALROA3VAC $1,600 2020 DJI Mavic 2 Enterprise Zoom 276DF9NO012R9J $2,900 2020 DJI Mavic Mini 2 3Q4CH9B0030Q1L $700 2016 DJI Phantom 4 FA3WX3ALP3 $1,500 2013 DJI Inspire 1 W13DC105040108 $3,000 2018 DJI Phantom 4 PRO 07JDF270020OB9 $r,5CO 2019 Yuneec Typhoon YU18210989612A01 $1,5C0 2020 Parrot S.A. Anafi Thermal P1040445AC9J003317 $1,8c0 2020 Mavic 3 1581F4QZB21BT1BE024A $4,700 2022 Autel Robotics EVO II PRO HV2921341136 $4,250 2021 DJI Mavic 2 Enterprise 4GCCJ58ROA09E5 $6,500 2021 DJI Mavic 2 Enterprise 4GCCJ61ROA09D8G $6,500 2021 DJI Mavic 2 Enterprise 4GCCJ4GROA071Q $6,500 2021 DJI Mavic 2 Enterprise 4GCCJ6IROAOD8A $6,500 2021 DJI Mavic 2 Enterprise 4GCCJ58ROA09FC $6,500 2022 Autel Robotics EVO 11 PRO HV2921341089 $3,750 2022 DJI Mavic 2 Enterprise 4GCCK67ROBOHVK $6,500 2023 DJI AVATA 1581F4QWB229GO03018K $2,500 2023 DJI AVATA 1581FQWB22B4003017S $2,500 2023 DJI Mavic 3T 1581F5FJD233Q00D60ND $6,500 2023 DJI Mavic 3T 1581F5FJD234600D7GBS $6,500 2023 DJI Mavic 3T 1581F5FJD233V00DML1J $6,500 2023 DJI V-nvic 3T 1581F5FJD238AO05VP4 $6,500 2023 DJI `V,,vic 3T 1581F5FJD238COODJ219 $6,500 2023 DJI Mavic 3T 151F5FJD233900D2P33 $6,500 5% /n Motion/ 5% Not in Motion Any pilot as approved by the Named Insured, provided each pilot is appropriately licensed for the flight being conducted. Law Enforcement, Fire Fighting/Support, and CML Photography/Videography This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02 Prepared for City of Lubbock Confidential. ©202121 USI USI Insurance Services. All rights reserved. o� 17 Liability Coverage, each occurrence $1,000,000 Personal Injury, each occurrence/aggregate $1,000,000 Non -Owned Aircraft Liability - UAS $1,000,000 Fire Legal Liability, each occurrence $100,000 Medical Expense Coverage, each occurrence $5,000 Liability for Sale of Aircraft, Aircraft Parts or Services $1,000,000 Premises Coverage $1,000,000 Contractual Liability $1,000,000 War and TRIA Included Premium Overview Description I Expiring Premium I Renewal Premium Hull Premium $5,121 $9,756 Liability Premium $5,184 $8,375 Total Annual Premium: $10,305.00 $18,131.00 Note: 0 Expiring hull premium was based on $62,900 total insured value vs. this year's total insured value of $112,800 ■ 79.3% increase in Hull Values; 75.9% increase in Premium Excluded coverage or other coverages sought may be available: please discuss with USI Other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations, exclusions and sublimits that will govern in the event of a loss. This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only; it is not a binder and does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. ®a 18