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HomeMy WebLinkAboutResolution - 2024-R0107 - Package Liability Insurance, Gemini Insurance Company - 03/05/2024Resolution No. 2024-ROI 07 Item No. 5.6 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 on behalf of the City of Lubbock, package liability insurance coverage from Gemini Insurance Company, for which the premium amount shall not exceed $947,997.38; and THAT the City Manager may execute any routine documents and forms associated with said insurance coverage. Passed by the City Council this March 5 2024 S ELIA PATTERSON HARRIS, MAYOR PRO TEM ATTEST: —r� vt�tv Courtney Paz, City Secreta y APPROVED AS TO CONTENT: .l D. u Kosteli , Chief Fina -' fficer APPROVED AS TO FORM: Ief I-Iffrisell, Deputy City Attorney vw/RES.Risk Mgmt-Gemini Ins. February 26, 2024 Resolution No. 2024-RO 107 Government Casualty Package Insurance Company: Gemini 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: $947,997.38 A —General Liability B — Law Enforcement Activities C—Public Officials, Employment Practices & Employee Benefits Liability C.1. Public Officials Liability C.2. Employment Practices Liability C.3. Employee Benefits Liability D — Limited Sexual Misconduct Incident Liability E—Automobile Liability F — Crisis Management Expense A —General Liability B — Law Enforcement Activities C — Public Officials, Employment Practices & Employee Benefits Liability C.1. Public Officials Liability C.2. Employment Practices Liability C.3. Employee Benefits Liability D—Limited Sexual Misconduct Incident Liability E —Automobile Liability C— Public Officials, Employment Practices & Employee Benefits Liability C.1. Public Officials Liability C.2. Employment Practices Liability C.3. Employee Benefits Liability D — Limited Sexual Misconduct Incident Liability Each Occurrence: $3,000,000 Aggregate: $6,000,000 Each Wrongrul Act: $3,000,000 Aggregate: $6,000,000 (Included in A — General Liability Aggregate) Aggregate: $6,000,000 Each Claim: $3,000,000 Each Claim: $3,000,000 Each Claim: $3,000,000 Each Claim: $2,000,000 Aggregate: $2,000,000 (Included in C. Public Officials, Employment Practices & Employee Benefits Liability Aggregate) Each Occurrence: $3,000,000 Each Occurrence: $35,000� Aggregate: $35,000 i Each Occurrence: $500,000 Each Wrongful Act: $500,000 Each Claim: $500,000 Each Claim: $500,000 Each Claim: $500,000 Each Claim: $500,000 Each Occurrence: $500,000 09/10/1999 09/10/1999 09/10/1999 10/01/2020 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, 121 Coverage Section: C - Public Officials, Employment Practices & Employee Benefits Liability Additional Premium: 100% of Annual Premium Additional Period: 12 months ... ----- _._. D - Limited Sexual Misconduct Incident Liability Additional Premium: 200% of Annual Premium Additional Period: 12 months Minimum Earned Premium at Inception: 35 % Optional Terrorism Premium: $10,500 Claims Administrator: Self -Administer Schedule: ............. _ Limits of Insurance Each Occurrence Limit: $3,000,000 Aggregate Limit: $3,000,000 Description of Dam(s), Reservoir(s), Spillway or Levee(s): Refer to schedule on file with company Schedule: Designated Entity: Lubbock Power and Light (LP&L) The policy is amended to add the following: The Limits of Insurance and Retained Limits of Insurance stated on the Declarations do not apply to any claims arising out of or related to the operations of the entity named on the above Schedule. The Limits of Insurance and Retained Limits of Insurance that apply to all claims arising out of or related to the operations of the entity named on the above Schedule are stated below and are separate from, not in addition to, the Limits of Insurance and Retained Limits of Insurance stated on the Declarations. LIMITS OF INSURANCE — DESIGNATED ENTITY A —General Liability Each Occurrence $2,000,000 Al I Coverages —Policy Aggregate Limit $2,000,000 RETAINED LIMITS OF INSURANCE — DESIGNATED ENTITY A —General Liability Each Occurrence $1,500,000 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. y � 22 Exception.. Schedule: FAILURE TO SUPPLY WATER Limits of Insurance Each Occurrence Limit: $1,000,000 Aggregate Limit (included in General Liability Aggregate): $1,000,000 i Retained Limit Each Occurrence: $500,000 yFAILURE TO SUPPLY SEWERAGE SERVICE Limits of Insurance Each Occurrence Limit: $1,000,000 Aggregate Limit (included in General Liability Aggregate): $1,000,000 Retained Limit Each Occurrence: $500,000 ---- _ . _ _.... _.. - -- — --- --- - - FAILURE TO SUPPLY ELECTRICITY SERVICE Limits of Insurance Each Occurrence Limit: $1,000,000 Aggregate Limit (included in General Liability Aggregate): $1,000,000 Retained Limit Each Occurrence: $1,500,000 Schedule: FIRE DAMAGE LEGAL LIABILITY LIMITS Limits of Insurance Each Occurrence Limit: $1,000,000 Aggregate Limit (included in General Liability Aggregate): $1,000,000 Retained Limit Each Occurrence: $500,000 MotoristsTexas Uninsured/Underinsured . Schedule: Limit of Insurance Uninsured/Underinsured Motorist Coverage Each Accident: $500,000 Retained Limit Each Accident: $500,000 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. .� 23 Audit Provisions * Audit based on Exposures $331,799.08 / $947,997.38 Premiums are calculated based on the insurance company's rules and rates. Premiums shown as advance or deposit premiums are suh;e, to audit and adjustment at the close of each audit period. If the advance premium i san ' ; t�•the earned premium as determined by the audit, the insured pays the difference. If the advance premium is more than the earned premium as determined by the audit, the insurance company returns the difference to the insured. The insured must keep records of the information needed for the audit and the premium calculations and send copies to the insurance company when it requests them. Forms and Endorsements: BPE 8000 09/22 Public Ertit �e-.ained Limits Policy Declarations BPE 8002 08/22 Berkley Public L itity Premier Schedule of Forms and Endorsements BPE 8001 12/23 Berkley Public Lntity Premier Public Entity Retained Limit Form BPE 8200 09/22 Signatures BPE 8202 01/23 Service of Suit BPE 8203 09/22 Exclusion of Certified Acts of Terrorism BPE 8204 09/22 Cap on Losses from Certified Acts of Terrorism BPE 8213 05/23 Biometric Information Exclusion BPE 8300 09/22 Absolute Aircraft and Aviation Operations Exclusion BPE 8306 09/22 Claim Expenses In Addition to Limits -Automobile Liability Coverage BPE 8308 09/22 Claim Expenses In Addition to Limits - General Liability and Law Enforcement Activities Coverages BPE 8310 09/22 Claim Expenses In Addition to Limits - Public Official, Employment Practices Liability and Employee Benefits Liability Coverage BPE 8315 09/22 Designated Dam, Reservoir, Spillway, Levee Sublimited Coverage BPE 8317 09/22 Designated Entity - Separate Limits BPE 8325 01/23 Exception to Failure to Supply Exclusion - Limited Coverage BPE 8326 09/22 Fire Damage Legal Liability to Premises Rented to You BPE 8350 01/23 Specified Automobile Liability Exclusion BPE 8605 09/22 Additional Insured - Designated Person or Organization General Liability Coverage BPE 8606 03/23 Additional Insured - When Required by Written Contract - General Liability Coverage BPE 8705 11/22 Texas Uninsured and Underinsured Motorists Coverage IL P 00101/04 U.S. Treasury Department's Office Of Foreign Assets Control ("OFAC") Advisory Notice To Policyholders LOSS Notice 01/23 Loss Notice RRE Notice 01/23 RRE Loss Notice 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. O 2021 USI Insurance Services. All rights reserved. W.124 COMMERCIAL AUTO CA U 005 05 13 TEXAS UNINSUREDIUNDERINSURED MOTORISTS COVERAGE SELECTION/REJECTION Policy Number: Policy Effective Date: 04/0112024 Company: Gemini Insurance Company Producer: USI Southwest. Inc. AppilcantlNamed Insured: City of Lubbock Texas law permits you to make certain decisions regarding Uninsured/Underinsured Motorists Coverage. This document briefly describes this coverage and the options available. You should read this document carefully and contact us or your agent if you have any questions regarding Uninsured/Underinsured Motorists Coverage and your options with respect to this coverage. This document includes general descriptions of coverage. However, no coverage Is provided by this document. You should read your policy and review your Declarations page(s) and/or Schedule(s) for complete information on the coverages you are provided. UNINSUREDIUNDERINSURED MOTORISTS COVERAGE Uninsured/Underinsured Motorists Coverage provides insurance protection to an insured for damages which the insured is legally entitled to recover from the owner or operator of an uninsured motor vehicle because of bodily injury or property damage caused by an automobile accident. Also included are damages due to bodily injury or property damage that result from an automobile accident with a hit-and-run vehicle whose owner or operator cannot be identified. Unless rejected, UninsureWUnderinsured Motorists Coverage will be afforded at limits at least equal to: (1) split limits of S30,000 for each person, subject to $60.000 for each accident with respect to bodily injury, and $25.000 with respect to property damage; or (2) a combined single limit of S85,000 for each accident, but you may select optional higher limits. CA U 005 05 13 V Insurance Services Office, Inc.. 2013 Page 1 of 2 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 Conridential. Cc 2021 USI Insurance Services. All rights reserved. W125 Please indicate your choice from either A. or B. as follows: A. Selection Of UninsuredlUnderinsured Motorists Coverage Limits If you wish to select UninsuredlUnderinsured Motorists Coverage, you may do so by initialing next to the appropriate item(s) and signing below. Please note that we only offer Uninsured/Underinsured Motorists Coverage limits up to the Liability Coverage limits of your policy. even though higher limits may appear below. (Initials) I select UninsuredlUnderinsured Motorists Coverage at the following Iimlt(s): (Choose one Split Limits Bodily Injury option AND one Property Damage limit option, OR one Combined Single Limit option from the following): Split Limits Property Combined initials Bodily Injury initials Damage OR Initials Single Limit $ 30.000160,D00 $ 25,000 S 85,000 50, 00 D110 D, 000 50,000 1013,00 100,0001300,000 100,000 250,000 250,0001500,000 350,000 (Other) 500,00011,000,000 500,000 1,000,000 (Other) (Other) Signature Of Applicant/Named insured Date B. Rejection Of UnlnsuredlUnderinsured Motorists Coverage If you wish to reject Uninsured/Underinsured Motorists Coverage, you may do so by initialing and signing below_ (Initials) I reject Uninsured/underinsured Motorists coverage. Signature Of Appllcant/Named Insured Date Page 2 of 2 d Insurance Services Office. Inc.. 2013 CA U 005 05 13 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 irm.u-arice contract. Pk:ase refer to the policy contraca for specific terms, conditions, Ilmitations, and exclusions. Proposal date: 02/22/2024 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. W,126 POLICYHOLDER DISCLOSURE NOTICE OF TERRORIST[ INSURANCE COVERAGE You art, hereby notified that under the Terror •:u Risk Insurance Act. as amended. (the "Act")- you have a right to purchase insurance coverage for losses resulting from acts of t,! rn.,rism. as defined in Section 10 2(11 off v Act: 'the tern "act of terrorism" means anv act that is certified by the Secretary of the Trea>.uy--in consultation with the Secretary of Homeland Security. and the Attorney General of the United States —to be an act of lermrism: to be a violent act or an act that is dangerous w 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 committal 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 cocrcion. Coverage under your policy may be affected as follow.,;: YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROV CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER. YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE. SUC'Il AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA. THE. UNITED STATES GOVERNNIENT GENERALLY REIN-IBURSES w% BEGINNING ON JANUARY 1. 2020 OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. TIME PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE AN`Y CHARGES FOR THE PORTION OF LOSS THAT MAY BE COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. YOU SHOULD ALSO KNOW THAT THE ACT. CONTAINS A S100 BILLION CAP THAT LIMITS U.S_ GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS $10t) BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL NSURER.S EXCEED S l00 BILLION. YOUR COVERAGE MAY BE REDUCED. Acceptance or Refection of Terrorism Insurance Coverage 1 hereby elect to purchase terrorists coverage. subject to the limitations of the Act. for acts of terrorism as defined in the Act fora Prospective Premium of SI6.650.00 1 hereby decline to purchase terrorism coverage for certified acts of terrorism. I understand that I witl have no coverage for losses resultin * from certified acts of terrorism_ Policyholderr'Applicant's Signature Insurance Company Print Nano Date 20(17 National Association of Insurance Commissioners Policy Number T iris 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. am.1 27 H,it,n. — drnitted CarH(-er N®tificato®iu At your direction, we have placed your Government Package with Gemini Insurance Company effective 04/01/2024. This insurance company is not licensed as an admitted carrier by the State of TX. Insurance statutes permit placement of coverage with non -admitted carriers. Each insurer must meet certain eligibility criteria, including regulation for solvency. In case of insolvency, payment of claims may not be guaranteed. Non -admitted carriers are not covered by the state guaranty fund. Therefore, the state guaranty fund will not compensate a qualified insured if the insurance carrier goes bankrupt and cannot pay claims. We are providing you with the above information so you can make an informed decision as to whether you wish to continue your coverage with the above insurance carrier. In the event you choose to remain with the above insurance carrier, please sign below and return this letter to our office. If we do not hear from you within 10 days, we will assume that you want to maintain coverage with this non -admitted carrier. AGREED; (must be signed by owner or corporate officer) 0 City of Lubbock, has reviewed and acknowledged the above. Date: 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. USI