HomeMy WebLinkAboutResolution - 2011-R0360 - Purchase Inland Marine Insurance Coverage - Travelers Lloyds Insurance Co. - 08/25/2011Resolution No. 2011—RO360
August 25, 2011
Item No. 5.4
RESOLUTION
I
�E 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
o purchase for and on behalf of the City of Lubbock, inland marine insurance coverage
From Travelers Lloyds Insurance Company, for which the premium amount shall not
xceed a rate of .211 per $100.00; and
THAT the City Manager may execute any routine documents and forms
ssociated with said insurance coverage.
assed by the City Council this August 25, 2011
TOM MARTIN, MAYOR
TTEST:
Garza, City Secretary
VED AS TO CONTENT:
eisa Hutcheson, Director of Risk Management
'PROVED AS TO FORM:
,Chad Weavei, Assistant City Attorney
ccdocs/RES.Risk Mgmt-Travelers Lloyds Ins
;ust 9, 2011
Resolution No. 2011-80360
Wells Firgo Ittsttrttnce Services
Tforld
INSURANCE AGENCY
INLAND MARINE
Insurance Company The Travelers Lloyds Insurance Company
A+ XV - Admitted
Effective Date: 10-01-11 to 10-01-12
Location Address; Statement of Values attached
COVERAGE
Limits BROADCASTING & MEDIA EQUIPMENT
$ Not Covered Radio & Television Towers
$ 756,2889 Public Information & Sound Equipment (Various Loc)
$ 5,682 BHC Sound Equipment
$ 6,820 SWM Sound Equipment
$ 768,791 Property at Your Premises Total Limit
$ Included
Data & Media
$ Not Covered
Scenery, Costumes & Theatrical Property
$ Included
Improvements & Betterments
$ Not Covered
Buildings as covered by this form
$ Included
Mobile & Portable Equipment (per schedule on file w
company)
$ Not Covered
Other Property
$ Not Covered
Tower Collapse
$ ACV
Actual Cash Value Valuation
$ 2,500
Deductible
COVERAGE EXTENSIONS
Tuning of Towers Up to $5,000
Property at Temporary Location Up to $50,000
ADDITIONAL COVERAGES
Debris Removal Up to 25%
Pollutant Clean Up & Removal Up to $10,000
Valuable Papers & Records
Up to $10,000
Fire Department Service Charge Up to $2,500
Fire Protective Equipment Recharge Up to
$2,500
Newly Acquired Property Up to $100,000
This information is intended to he revicived by the representatives for the crit it), and no other parties. Rexiemv by persons
other than the entity's representatives is prohibited. Lik-m ise, dissemination or copying of this document or the information
contained herein to persons othertltan the entity's representative is also prohibited.
Wells Fargo Ilisttrance Set-vices
nam
INWRANCr AG[6PCV
COVERAGE
Limits
FINE ARTS - MUSEUMS
$
565,941
BHC WColors & Plaques
$
561,545
BHC Accessioned
$
439,900
BHC Items in Loan
$
59,385
BHC Items Owned
$
228,701
SWM Accessioned
$
800,615
SWM Items In Loan
$
2,656,087
Property at Your Premises Total Limit
$ 500,000 Property at any other location
$ 250,000 Property in transit
$ No Coverage Flood
$ No Coverage Earth Movement
$ 250,000 Temporary Exhibits at your premises
$ 2,500 Deductible
EXTENSIONS
• Debris Removal Lesser of 25% of Basic LOI or $25,000
■ Pollutant Cleanup Up to $25,000
■ Parcel Post & Registered Mail Up to $1,000 per package, $25,000 any one Occurrence
■ Expediting Expenses Up to $25,000
• Inventory, Appraisals & LAE Up to $10,000
• Fire Department service Charge Up to $5,000
■ RefiIling of Fire Protective Devices Up to $5,000
• US Indemnity Clause Up to $500,000
Rate - .211
This information is intended to he reviewed by the representatives for the entity and no other parties. Res iew by persons
other than the entity's representatives is prohibited. t.ikci%ise, disseminatioii ar coli) ing of this document or the information
contained herein to persons other than the entity's representative is also prohibited.