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HomeMy WebLinkAboutResolution - 2021-R0338 - Package Liability Insurance from Gemini Insurance Company 9.14.21Resolution No. 2021-R0338 Item No. 7.19 September 14, 2021 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 $670,649.13; and THAT the City Manager may execute any routine documents and forms associated with said insurance coverage. Passed by the City Council this September 14, 2021 ��A DANIEL M. POPE, MAYOR ATTEST: Rebe a Garza, City Secr APPROVED AS TO CONTENT: /1�1' &ke� D-ITIU kodelich, Chief Financial Officer APPROVED AS TO FORM: — V/Z�� Je sell, beputy City Attorney vw/RES.Risk Mgmt-Gemini Ins. September 7, 2021 Resolution No. 2021-R0338 Government Casualty Package Insurance Company: Gemini Insurance Company Policy Term: 10/1/2020 to 10/1/2021 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: $663,126.00 Including SL Taxes & Fees $670,649.13 Including TRIA, SL Taxes & Fees Coverage Umft A - General Liability Each Occurrence $3,000,000 Aggregate $6,000,000 B - Auto Liability Each Occurrence $3.000,000 Aggregate UNLIMITED C - Public Official, Employment Practices and Employee Benefits Each Claim $3.000,000 Liability Aggregate $6,000,000 t3 Unsured Rdantion A - General Liability Each Occurrence $500,000 B - Auto Liability Each Occurrence $500,000 C - Public Official, Employment Practices and Employee Each Claim $500,000 Benefits Liability Minimum Earned Premium at Inception: 35 % Optional Terrorism Premium: $7,170 Total Premium: $632,000 (Excluding Terrorism & Surplus Lines Taxes & Fees K Applicable) Claims Administrator: Self -Administer With regard to all toss arising out of or related to Lubbock Power and Light (LP&L): the Limits of insurance and Attachment point is amended as follows: I-1mftvt Vie: Each Occurrence, Accident, Act or Claim $2,000.000 Policy Aggregate $2,000.000 Retained Limit: $1.000.000 usi Treatment of Claims Expense Coverage Part Coverage Retained Limit Limits of Insurance A General Liability Inside limit Outside Limit B Automobile Liability Inside Limit Outside Limit C Public Official, Employment Practices and Employee Benefits Liability Inside Limit Outside Limit Schedule Coverage Description Coverage Part Limit Limited Sexual Abuse Coverage Part Limited Sexual Abuse Coverage Part Each Act $2,000,000 Aggregate $2,000,000 Retained Limits of Insurance Each Act $500,000 Retroactive Date: 10/1/2020 SCHEDULE Pesticide or Herbicide Pollutant Liability Limit: $3,000.000 Each Occurrence $3,000,000 Aggregate Retained Limit: $300,000 Each Occurrence SCHEDULE Fire Damage Legal Liability Limit: $1,000,000 Each Occurrence $1,000,000 Aggregate Retained Limit $500,000 Each Occurrence DAM, RESERVOIR, LEVEE SUBLIMITED COVERAGE ENDORSEMENT Limits of Insurance SCHEDULE Each Occurrence Limit: $3.000,000 Aggregate Limit $3,000,000 Description of Dam(s), Reservoirs) or Levee(s): • Refer to schedule on file with the company USI Forms and Endorsements: CEN 5007 01/15 Schedule of Forms and Endorsements CCP 1001 09/17 Common Conditions, Definitions And Exclusions CCP 1002 01/13 General Liability Coverage Part CCP 1003 05/12 Automobile Liability Coverage Part CCP 1004 01/13 Public Officials, Employment Practices And Employee Benefits Liability CCP 1005 05/12 Limited Sexual Abuse Coverage Part CEN 1000 09/20 Signatures CEN 2001 01/15 Exclusion Of Certified Acts Of Terrorism CEN 2002 01/15 Cap On Losses From Certified Acts Of Terrorism CEN 1005 01/20 Service of Suit Endorsement CEN 3018 05/20 Exclusion - Communicable Disease CEN 1009 01/14 Pesticide Or Herbicide Pollutant Exception CEN 1013 05112 Fire Damage Legal Liability To Premises Rented To You CEN 3005 01/13 Dam, Reservoir, Levee Subllmlted Coverage Endorsement CEN 3011 05/12 Additional Insured - Specified By Written Contract CEN 9001 0&12 Trade Or Economic Sanctions Endorsement PEN 1000 05/12 Claims Expense In Addition To Limits Of Insurance PEN 1008 07/18 Additional Insured - Designated Person or Organization MAN 1000 07/20 Designated Operation Amendment of Limits MAN 1000 10/20 Specified Auto Exclusion MAN 1000 10/20 TX UM/UIM Endorsement MAN 1000 02121 Exception to Failure to Supply Exclusion - Limited Coverage CA U 005 05/13 Texas Uninsured/Underinsured Motorists Coverage Selection/Rejectlon Notice 11/19 TX Complaint Notice IL P 001 01/04 U.S. Treasury Department's Office Of Foreign Assets Control ("OFAC") Advisory Notice To Policyholders LOSS Notice 01/20 Loss Notice RRE Notice 01/20 RRE Loss Notice Terms and Conditions: Quotation Is subject to reconsideration If there are any significant changes In operations, exposure or experience prior to binding. This Quotation Is subject to receipt, review and acceptance of this/these outstanding Item(s). Please forward to us at binding. • You are the surplus lines broker of record. It Is your responsibility to follow applicable state surplus lines laws and, In particular, to see that the appropriate surplus lines taxes and stamping fee (If applicable) are collected, reported and paid. • Premium due per Invoice specifications. Subjectivities: This authorization is subject to receipt and review of the following information within the time period(s) stated. Upon receipt and review of the items listed below, we reserve the right to modify these Terms and Conditions in accordance with our Underwriting Guidelines. • A signed and completed sexual abuse application, Required within 30 Days of Binding. • Signed UM/UIM forms, Required within 30 Days of Binding. • Receipt of signed and dated Policyholder Disclosure Notice (TRIA), attached hereto, Required Prior to Binding. COMMERCIALAUTO CA U 005 0513 TEXAS UNINSURED/UNDERINSURED MOTORISTS COVERAGE SELECTION/REJECTION Policy Number. Policy Effective Date: 10/01/2021 Company: Producer. Gemini Insurance Company USI Southwest, Inc. - El Paso Applicant/Named 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. UNINSURED/UNDERINSURED 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 1 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, Uninsured/Underinsured Motorists Coverage will be afforded at limits at least equal to: (1) split limits of $30,000 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 $86,000 for each accident, but you may select optional higher limits. Page 1 of 2 FW-z Please indicate your choice from either A. or S. as follows: A. Selection Of Uninsured/Underinsured Motorists Coverage Limits If you wish to select Uninsured/Underinsured 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 Unlnsura"nderinsured Motorists Coverage at the following Iimlt(s): (Choose one Split Umits Bodily Injury option AND one Property Damage limit option, OR one Combined Single Umit option from the following): Split Umlts Property Combined (Initials) Bodily Injury (Inlhh) Damp OR (Initials) Single Umit = 30,000160,000 $ 25,000 $ 83,000 50,0001100,000 50,000 100,000 100,0001300,000 100,000 250,000 250,0001500,000 350.000 500.00011,000,000 (Other) 500,000 1,000,000 (Other) Signature Of Appiicant/Namad Insured Date (Other) B. Rejection Of Uninsured/Underinsured 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 Applicant/Named Insured © Insurance Services Office, Inc. ®Insurance Services Office, Inc. 02013 Vertafore, Inc. All Rights Reserved. Date K:Usi POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE You are hereby notified that under the Terrorism Risk Insurance Act, as amended, (the "Act'), you have a right to purchase insurance coverage for losses resulting from acts of terrorism, as defined In Section 102(1) of the Act: The term "act of terrorism' means 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. Coverage under your policy may be affected as follows: YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM 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, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA, THE UNITED STATES GOVERNMENT GENERALLY REIMBURSES 80% BEGINNING ON 1ANUARY 1, 2020 OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY 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 $100 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 $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED $100 BILLION, YOUR COVERAGE MAY BE REDUCED. Ace tance or Re eetton of Terrorism Insurance Covers e I hereby elect to purchase terrorism coverage, subject to the limitations of the Act, for acts of terrorism as defined in the Act fora prospective premium of $7,170.00 1 hereby decline to purchase terrorism coverage for certified acts of terrorism. 1 understand that I will have no coverage for losses resulting from certified acts of terrorism. Policyholder/Applicant's Signature Insurance Company Print Name Ql, r 2007 National Association of Insurance Commissioners Policy Number USI