Loading...
HomeMy WebLinkAboutResolution - 2023-R0125 - Package Liability from Gemini Insurance CompanyResolution No. 2023-R0125 Item No. 6.12 March 7, 2023 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 $842,023.13; and THAT the City Manager may execute any routine documents and forms associated with said insurance coverage. Passed by the City Council this March 7, 2023 APPROVED AS TO CONTENT: 1 0 D. Wu Kost6lich, Ch--Rt Financial Officer APPROVED AS TO FORM: City Attorney vw/RES.Risk Mgmt-Gemini Ins. February 21, 2023 Resolution No. 2023-RO125 Government Casualty Package Insurance Company: Gemini Insurance Company Policy Term: 04/01/2023 to 04/01/2024 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: $842,023.13 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 Each Occurrence: $3,000,000 Aggregate: $6,000,000 Each Wrongrul Act: $3,000,000 Aggregate: $6,000,000 (Included in A — General � 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 Aeereeate: S35.000 Each Occurrence: $500,000 Each Wrongful Act: $500,000 C — Public Officials, Employment Practices & Employee Benefits Liability 1 C.1. Public Officials Liability Each Claim: $500,000 C.2. Employment Practices Liability Each Claim: $500,000 C.3. Employee Benefits Liability Each Claim: $500,000 D — Limited Sexual Misconduct Incident Liability Each Claim: $500,000 E — Automobile Liability Each Occurrence: $500,000 C — Public Officials, Employment Practices & Employee Benefits Liability 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. C.1. Public Officials Liability 09/10/1999 C.2. Employment Practices Liability 09/10/1999 C.3. Employee Benefits Liability 09/10/1999 D —Limited Sexual Misconduct Incident Liability 10/01/2020 Proposal date: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. 31 Optional Extended Reporting Period: (if exercised in accordance with Section VII) overage 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 Designated Dam, Reservoir, Spillway, Levee Sub -limited Coverage 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 com Designated Entity —Separate Limits 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 All Coverages — Policy Aggregate Limit $2,000,000 RETAINED LIMITS OF INSURANCE — DESIGNATED ENTITY A —General Liabi Each Occurrence $1,000,000 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: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. W.132 Schedule: FAILURE TO SUPPLY WATER Limits of Insurance Each Occurrence Limit: $1,000,000 Aggregate Limit (included in General Liability Aggregate): $1,000,000 Retained Limit I Each Occurrence: $500,000 FAILURE 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: $500,000 LiabilityFire Damage Legal • Premises Rented to You 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 Schedule: Uninsured/Underinsured Motorist Coverage Retained Limit Limit of Insurance Each Accident: $500,000 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: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. W.133 Audit Provisions * Audit based on Exposures $294,708.09 / $842,023.13 Premiums are calculated based on the insurance company's rules and rates. Premiums shown as advance or deposit premiums are subject to audit and adjustment at the close of each audit period. If the advance premium is less than 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 Entity Retained Limits Policy Declarations BPE 8002 08/22 Berkley Public Entity Premier Schedule of Forms and Endorsements BPE 8001 12/22 Berkley Public Entity 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 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 Sub -limited 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: All Citibus Vehicles. Citibus is the public transportation provider for the City of Lubbock. BPE 8605 09/22 Additional Insured - Designated Person or Organization General Liability Coverage Lubbock & Western Railway, LLC 315 W. 3rd Street, Pittsburg, KS 66762-4706 BPE 8606 09/22 Additional Insured When Required by Written Contract Each Occurrence: $3,000,000 Aggregate Limit: $3,000,000 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: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. 34 COMMERCIAL AUTO CA U 005 0513 TEXAS UNINSUREWUNDERINSURED MOTORISTS COVERAGE SELECTION/REJECTION Policy Number: Company: Gemini Insurance Company Applicant(Named Insured: City of Lubbock Policy Effective Date: 04/01/2023 Producer. USI Southwest, Inc. 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 Unlnsured/Undednsured 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 htt-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 $85,000 for each accident, but you may select optional higher limits. CA U 005 0513 ® 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: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. I■ L"1 ■I� 35 Please Indicate your choice from either A. or B. as follows: A. Selection Of UninsuredlUnderinsured 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/Undennsured Motorists Coverage limits up to the Liability Coverage limlts of your policy, even though higher limits may appear below. (Initials) 1 select Uninsured/Underinsured Motorists Coverage at the following Iimit(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 InittaiS Damage OR Initials Sin le Limit $ 30,000160,000 $ 25,000 $ 85,000 50,0001100,000 50,000 100,000 100,0001300,000 100,000 250,000 250,0001500,000 350,000 (Other) 500,00011,000,000 500,000 1,000.000 (Other) (Other) Signature Of Applicant/Named Insured Date B. Rejection Of Uninsure"nderinsured Motorists Coverage If you wish to reject UninsuredlUnderinsured Motorists Coverage, you may do so by inttialing and signing below. (Initials) I reject Uninsured/Underinsured Motorists Coverage. Signature Of Applicant/Named Insured Date Page 2 of 2 © Insurance Services Office, Inc., 2013 CA U 005 0513 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: 02/17/2023 Prepared for City of Lubbock Confidential. © 2021 USI Insurance Services. All rights reserved. .136 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 102f1J ofthe 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 ha-.e 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 pit 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 8090 BEGINNING ON JANUARY I. 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 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 $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED S 100 BILLION, YOUR COVERAGE MAY BE REDUCED. Acceptance or Rejection of Terrorism Insurance Coverage 1 hereby elect to purchase terrorism coverage, subject to the limitations of the Act. for acts of terrori terrorism.PolicyholderlApplicant's Signature Insurance Company Print Name Policy Number Date C 2007 National Association of Insurance Commissioners sm as defined in the Act. fora prospective premium of SJO.SOt1.00 I hereby decline to purchase terrorism coverage for certified acts of terrorism. 1 understand that 1 will have no coverage for losses resulting From certified acts of 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: 02/17/2023 Prepared for City of Lubbock Confidential. ©2021 USI Insurance Services. All rights reserved. W.137