HomeMy WebLinkAboutResolution - 2011-R0364 - Purchase Boiler And Machinery Insurance - Hartford Steam & Boiler Co. - 08/25/2011Resolution No. 2011-80364
August: 25, 2011
Item No. 5.6
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, boiler and machinery insurance
coverage from Hartford Steam & Boiler Inspection and Insurance Company, for a
premium amount not to exceed rates of .0518/$100; and
THAT the City Manager may execute any routine documents and forms
associated with said insurance coverage.
Passed by the City Council this August 25, 2011
TOM MARTIN, MAYOR
ATTEST:
DA'V-� , --
Rebec a Garza, City Secretary
APPROVED AS TO CONTENT:
Leisa Hutcheson, Director of Risk Management
APPROVED AS TO FORM:
Chad Weaver, Assistant City Attorney
vw:ccdocslRES.Risk Mgmt-Hartford Steam & Boiler Ins.
August 9, 2011
Resolution No, 2011—RO364
Wells Fargo Insurance Services
INSURANCE AGENCY
BOILER & MACHINERY
Insurance Company Zurich North America Hartford Steam & Boiler
A XV - Admitted A+ XV - Admitted
Effective Date: 10-01-11 to 10-01-12
COVERAGE
Limits of Insurance:
Coverage
Zurich
Hartf ord
Property Damage
$50,000,000
$50,000,000
Expediting Expenses
$250,000
$250,000
Business Income
$5,000,000
$5,000,000
Extra Expense
$100,000
Included
Data or Media
$100,000
$100,000
Spoilage Damage
$100,000
$100,000
Utility Interruption
$100,000
$100,000
(Coverage applies only if the interruption of services lasts
at least 24 hrs)
Newly Acquired Premises (90 days)
$2,5000,000
$2,5000,000
Ordinance or Law Coverage
$100,000
$100,000
Errors & Omissions
$1,000,000
Included Subject
to Conditions
Brands & Labels
$100,000
Included
Contingent Business Income & Extra Expense
No Coverage
No Coverage
Contingent Extra Expense Only
No Coverage
No Coverage
Fungus, Wet Rot and Dry Rot
$15,000
No Coverage
Fungus, Wet Rot and Dry Rot - BI & EE
30 Days
No Coverage
Ammonia Contamination
$100,000
$100,000
Consequential Loss
$100,000
$100,000
Hazardous Substances
$100,000
$100,000
Water Damage
$100,000
ACV - If
electrical for
drying out only
This information is intended to be reviewed by the representatives for the entity and no other parties. Review by persons
other than the entity's representatives is prohibited. Likewise, dissemination or copying of this document or the information
contained herein to persons other than the entity's representative is also prohibited.
Wells Fargo Insurance Services
ord
turn
INSURANCE AGENCY
DEDUCTIBLES
Deductible Description Deductible Amount
The deductible applies only to a coverage for which an amount, hours, days or the word
INCLUDED is shown. If INCLUDED is shown, the deductible for that coverage is part
of the Combined Deductible.
Property Damage
■ Zurich $25,000 with the following exceptions:
-Power Generating Stations: $100,000
-Steam & Gas Turbines and Driven Generators $1,000,000
■ Hartford S&B / TML 25,000 with the following exceptions:
-Power Generating Stations: $100,000
-Steam & Gas Turbines and Driven Generators $250,000
Combined BI & EE
Extra Expense only
(applicable to power
generation location)
Spoilage & Ammonia
except:
Cook #2 54.3 MW turbine or generator: $350,000
Massengale #8 43 MW turbine or generator: $500,000
Transformers: $1.50 per KVA, $25,000 minimum
24 Hours
24 Hours
Included within the PD deductible
Quotations
> $411,069 Hartford Steam Boiler - Includes Infra Red Testing
➢ $329,000 Zurich - $1,000,000 Deductible on Steam & Gas Turbines
Rates: Hartford Steam Boiler - .0518
Zurich - Electric Utilities -.1376
Water/ Wastewater -.015
All Other -.0025
This information is intended to be reviewed by the representatives for the entity and no other parties. Review by persons
other than the entity's representatives is prohibited. Likewise, dissemination or copying of this document or the information
contained herein to persons other than the entity's representative is also prohibited.