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Home My WebLink AboutResolution - 2019-R0301 - Travelers Casualty & Surety Company - Crime Insurance Coverage - 08/27/2019 Resolution No. 2019-R0301 Item No. 6.26 August 27, 2019 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, crime insurance coverage from Travelers Casualty & Surety Company of America, for which the premium amount shall not exceed $6,921; and THAT the City Manager may execute any routine documents and forms associated with said insurance coverage. Passed by the City Council on August 271 ?n I Q DANIEL. M. POPE, MAYOR ATTEST: _1�� X Reb cca Garza, City Secretat APPROVED AS TO CONTENT: Leisa Hutcheson, Director of Human Resources And Risk Management APPROVED AS TO FORM: Jeff" artseil, Deputy City Attorney vw:ccdocs/RES.Risk Mgmt-Travelers Casualty& Surety August 19, 2019 Resolution No. 2019-R0301 Crime Coverage Insurance Company: Travelers Casualty&Surety Company of America Policy Term: 10/01/2018 to 10/01/2019 Coverage: Travelers Crime coverage offers multiple insuring agreements to provide protection for exposures such as loss from forgery or alteration, employee dishonesty, loss of money and securities and reimbursement for claim expenses. Annual Premium: $6,921.00 Coverage Description A-Fidelity 1. Employee Theft $2,000,000 $50,000 2. ERISA Fidelity Not Covered 3. Employee Theft of Client Property Not Covered B- Forgery or Alteration $2,000,000 $50,000 C-On Premises $2,000,000 $50,000 D-In Transit $2,000,000 $50,000 E-Money Orders and Counterfeit Money $2,000,000 $50,000 F-Computer Crime 1. Computer Fraud $2,000,000 $50,000 2. Computer Program and Electronic Data Not Covered Restoration Expense G- Funds Transfer Fraud $2,000,000 $50,000 H-Personal Accounts Protection 1. Personal Accounts Forgery or Alteration Not Covered 2. Identity Fraud Expense Reimbursement Not Covered -Claim Expense $5,000 $0 Social Engineering Fraud $100,000 $50,000 Key Definitions The Key Definitions contain generic definitions for common types of insurance. Not a1J coverage types are defined and some of those that are defined may not be incfuded in your insurance prograrn, Computer Fraud-Theft of money, securities or property by computer to fraudulently transfer covered property from your premises or bank to another person or place outside of your premises Employee Theft Coverage-Covers loss of or damage to money,securities and other property caused by employee dishonesty Forgery or Alteration-Covers losses resulting from forgery or alteration of checks or covered instrument Inside the Premises-Theft of Money and Securities-Covers losses by theft,disappearance or destruction inside the Premises-Robbery or Safe Burglary of Other Property-Covers the robbery of a custodian and safe burglary Outside the Premises-Covers losses in the care and custody of a messenger or armored car Theft, Destruction or Disappearance- Covers against loss resulting from the theft,destruction or disappearance of money and securities as well as damage to containers on premises directly resulting from theft or unlawful entry �. � 66 f Endorsements 1 Policy Forms CRI-2001-0109 Crime Declarations Page CRI-3001-0109 Crime Policy Form Endorsements ACF-7006-0511 Removal of Short-Rate Cancellation Endorsement CRI-10073-0311 Government Entity Crime Coverage Without Individual Exclusion Endorsement Employee Theft Per Loss Coverage Limit $2,000,000 Employee Theft Per Loss Coverage Retention $50,000 CRI-10083-0411 Sponsored Plan Endorsement CRI-19072-0315 Global Coverage Compliance Endorsement—Adding Financial Interest Coverage And Sanctions Condition and Amending Territory Condition Endorsements(cont'd) CRI-19085-0516 Social Engineering Fraud Insuring Agreement Endorsement CRI-19097-0517 Replace Exclusion BB. Endorsement CRI-19101-1117 Amendatory Endorsement for Certain ERISA Considerations CRI-4019-0911 Texas Changes Endorsement CRI-5044-0613 Texas Cancellation or Termination Endorsement CRI-7026-0713 Amend Cancellation As To Any Employee Endorsement CRI-7059-0109 Amend Definition of Employee Endorsement CRI-7087-0109 Amend Duties in the Event of Loss—Knowledge by Corporate Officials Endt CRI-7135-0910 Government Entity Crime—Specified Limit and Retention for Faithful Performance or Duty(Except Police Officers or Other Peace Officers) Endt Single Loss Limit $1,000,000 Single Loss Retention $50,000 CRI-7203-0109 Amend Extended Period of Discover Loss Endorsement CRI-7224-0517 Tax Liability Endorsement Forms and Conditions Settlement Basis ■ Money—Face value • Securities—Value on the day the loss was discovered ■ Property—Cost to repair or replace Discovery Period—Pays only for covered loss discovered no later than one year from the end of the policy period Records—You must keep records of all covered property to verify the amount of the loss Duties In The Event Of A Loss—Notify us as soon as possible,cooperate with investigation&settlement Excluded coverage or other coverages sought may be available: please discuss with USI Other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations,exclusions and sublimity that will govern in the event of a loss. �. � 67