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HomeMy WebLinkAboutResolution - 2024-R0105 - Medical Professional Liability Coverage, Landmark Insurance Company - 03/05/2024Resolution No. 2024-RO105 Item No. 5.4 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 to purchase for and o:,: behalf of the City of Lubbock, Medical Professional Liability coverage from Landmark Insurance Company, for a total amount not to exceed $16,939.74; and THAT the City Manager may execute any routine documents and forms associated with said coverage. Passed by the City Council this March 5, 2024 S IA PATTERSON HARRIS, MAYOR PRO TEM ATT - ST: �q uc Courtney Paz, City Secretary APPROVED AS TO CONTENT: -- '//-� le�- D. u 1Costelic , Chief Financial Officer APPROVED AS TO FORM: AAIR4"?�' f sell, Deputy City Attorney R) S.Risk Mgmt-Landmark Insurance Company February 26, 2024 Resolution No. 2024-RO105 Medical Professional Liability Insurance Company Policy Term: Coverage: Annual Premium: Professional Services: Form: Retroactive Date: Each Claim Limit: Aggregate Limit: i Per Claim: $2.500 Landmark Insurance Company, A.M. Best Rated A+ X1V 04/01/2024to 04/01/2025 Protects a health care provider for errors arising from the medical practice. $16,939.74 HEALTH CLINIC/ PUBLIC HEALTH CLINIC RSG 51043 0722 Medical Professional Liability Coverage Form Claims Made and Reported Basis - Broad February 08, 2021 51.000.000 S3.000.000 Deductible Applies to Indemnity and Expense Endorsements,Key Forms and Conditions • RSG 56216 0822 Cryptocurrency Exclusion • RSG 56203 0321 Exclusion - Correctional Medicine • Mailing Address Endorsement • RSG 54025 0405 Minimum Retained Premium • RSG 56058 0903 Nuclear Energy Liability Exclusion • RSG 56191 0421 Opiold and Controlled Substance Exclusion • RSG 99022 1022 State Fraud Statement • RSG 54207 1022 Supplementary Coverages Endorsement (Broad) • RSG 92008 0322 Texas - Service Of Suit (Landmark) • RSG 99014 0823 Texas Important Notice • RSG 99031 0409 Texas Surplus Lines Disclosure Notice * RSG 56121 1222 Violation of Consumer Protection Laws Exclusion 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 conracl:. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. Cc) 2021 USI Insurance Services. All rights reserved. w I 29 Important Considerations Terms and Conditions • Claim Expenses In Addition to Limits of Liability - subject to $1.000,000 limit • Extended Reporting Period Options: 12. 24, or 36 months for an additional premium not to exceed 100%, 150%, or 175 io of the annual ; policy premium • Consent to Settle with no hammer clause • Punitive Damages included • Defendants Reimbursement Coverage ($500 per day 1$5,000 agg j • Defense of disciplinary proceedings: $25,000 sublimit • HIPAA coverage; $100.000 sublimit • Sexual abuse and molestation coverage: S250,000,$500,000 sublimit • Good Samaritan coverage: S25,000 sublimit • Damage or Loss to Patients Property: S500 per Ioss55,000 aggregate • Evacuation Expense Coverage_ $25,000 sublimit • Lega]Wedia Expense Reimbursement: $25.000 sublimit 25% MINIMUM EARNED PREMIUM UPON BINDING. A. Advertising Liability means Injury arising out or one or more of the following ortenses: I 1. Oral or written publication of material that slanders or libels a person or organization or disparages a person's or organizations goods. products or services; 2. Oral or written publication of material that violates a person's right of privacy; 3. Misappropriation of advertising ideas or style of doing business. B. Bodily Injury means physical or mental harm, sickness or disease sustained by a person, including death resulting from any of these at any time. C. Claim means a written demand for monetary or non -monetary relief received by the Insured during the Policy Period_ including the service of suit, or the Institution of an arbitration proceeding_ Additionally, Claims that arise from an incident, occurrence or offense first reported by the Insured during the Policy Period and accepted by the Company in accordance with Part IV. A. Notice of Claim will be considered a Claim first made during the Policy Period. D. Claim Expense means expenses incurred by the Company or the Insured with the Company's consent in the investigation, adjustment. negotiation_ arbitration, mediation and defense of covered Claims. whether paid by the Company or the Insured with the Company's consent, and includes: 1. Attorney fees; 2. Costs taxed against the Insured in any Claim defended by the Company., 3. Interest on the full amount of any judgment that accrues after entry of the judgment and before the Company has paid, offered to pay or deposited In court the part of the judgment that is within the applicable Limit of Liability'. 4. The cost of appeal bonds or bonds to release attachments, but only for bond amounts within the available applicable policy limit and only if said Claims are covered by the policy; 5. Reasonable expenses incurred by the Insured at the Company's request other than: a. Loss of earnings: b. Salaries or other compensation paid to the Insured or any employee of the Insured. i 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 l.ubhocl< Confidential. «? 2.027. USI I11SU1-7jnce Serviccs..All rights reserved. 30 t. wamages means compensatory luagment. award or seu[erTnern, ❑acivauig punnrve or exernpidry damages. except damages for which Insurance is prohibited by law. Damages does not include disputes over fees. deposits. commissions or charges for goods or services. F. Policy Period means the period of time stated in the Declarations or any shorter period resulting from policy cancellation or amendment to the policy. G. Personal Injury means Injury. other than Bodily Injury, arlsing out of one or more of the following offenses: 1. False arrest, detention or Imprisonment, 2. Malicious prosecution or abuse of process: 3. The wrongful eviction from, wrongful entry into, or invasion of the right of private occupancy of a room, dwelling or premises that a person occupies. committed by or on behalf of Its owner, landlord or lessor: 4. Oral or written publication, In any manner, of material that slanders or libels a person or organization or disparages a person's or organization's goods, products or services; 5. Oral or written publication, in any manner, of material that violates a person's right of privacy. K Retroactive Date means the date stated in the Declarations on or after which any alleged or actual negligent act, error or omission must have first taken place in order to be considered for coverage under this policy. 1. Pollutants means any solid, liquid, gaseous or thermal irritant, contaminant or toxin. whether live or Inanimate, including but not limited to, smoke, vapor, soot, fumes, acids, alkalis. chemicals. metals. silica, lead, lead compounds or materials containing lead, asbestos, asbestos compounds or materials containing asbestos, radon, waste or any like substances. Waste includes materials to be recycled, reconditioned or reclaimed. Excluded coverage or other coverages sought may be available: please discuss with U51. 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 Por City of Lubbock Cori i`idential. Oc 2021 US[ Insurance ServiCBs. All rights reserved. 31 MISCELLANEOUS MEDICAL BROAD FORM Professional Liability Dedicated to the wholesale specialty insurance market, RSUl offers a diverse line of products while providing the Highest levels of service and expertise. Our specialized and experienced underwriters are empowered to make quick decisionsand strivetobuild lasting relationships with our customers. RSUI has the financial strength and stability to support our business partners through any market cycle. RSUI's strength is further substantiated by its long term parent company Alleghany Corporation (NYSE: Y), Additional Advantages: — Landmark American Insurance Company — Limits capacity of $5,000,000 — Primary or excess capability Competitive minimum premiums — Highest service standards in the industry — Dedicated in-house claims professionals Pfeauc re r to 0: 1 ;i:ct (< r . rr,rnpl, r: dr;rrarrnu afcoveroge, Suupe+,- A.M. Best Company song Standard and Poor's $1.8b Statutory Surplus Outlook: Stable Oat lank: Statue L�/31J207P Optional Coverages: — Iadepeniirnt CnnU-aiiar•; — Ability w add cot t•rago for PhYsicians — Cyber Coverage — "Good Samaraan" Coverage - S25,00❑ — Evacuation Expenses - S25,000 Patient Property Damage - S500 — Legal/Media Expenses - S25,000 — Aggregate Deductibles Indemnity only Deductibles Report claims to: reportclaims@rsui.com Georgia 945 East Paces Ferry Road, Suite 1800 Adai%i.GA 30326-1160 phone 404.231.2366 RELATIONSHIPS i SERVICE I UNDERWRITING I INTEGRITY 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. IBM MI 32