HomeMy WebLinkAboutResolution - 2024-R0121 - Airport And Non-Owned Aircraft Liability Insurance, Ace Property/Casualty Ins. - 03/26/2024Resolution No. 2024-R0121
Item No. 5.8
March 26, 2024
RESOLUTION
BE IT RESOLVED BY THC 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, airport and non-owned aircraft
liability insurance coverage from Ace Property and Casualty Insurance Company, for a
premium amount not to exceed $41,490.00; and
THAT the City Manager may execute any routine documents and forms associated
with said insurance coverage.
Passed by the City Council this March 26, 2024
APPROVED AS TO CONTENT:
D. Blu Ko, elich, Chief Financial Of�cer
Al'PROVED AS TO F'ORM:
� _!�__- - -
Jeff se , Deputy City Attorney
RES.Risk Mgmt-Ace Property & Casualty Ins
March 14, 2024
Resolution No. 2024-R0121
Airport Owners Liability
Insurance Company:
Policy Term:
Coverage:
Annual Premium:
Named Insured:
Airport Location:
Limits of Liability:
Deductibles:
ACE Property and Casualty Insurance Company
04/01/2024to 04/01/2025
Your legal liability to members of the public for claims arising from your airport
ownership or operation.
$41,490.00
City of Lubbock and Lubbock Preston Smith International Airport
P.O. Box 2000
Lubbock, Texas 79457
LBB - Lubbock Preston Smith International Airport
$50,000,000
$50,000,000
$50,000,000
$50,000,000
$50,000,000
$500,000
$10,000
$50,000,000
$50,000,000
$50,000,000
$50,000,000
$50,000,000
$1,000,000
$1,000,000
NIL
Bodily Injury & Property Damage Liability Combined Single Limit
Products-Completed Operations Aggregate
Personal Injury and Advertising Injury Aggregate
Incidental Malpractice Aggregate
Extended Coverage - War, Hi-jacking & Other Perils Aggregate
Fire Damage Limit, Any One Fire
Medical Expense Limit, Any One Person
Hangarkeepers Limit, Any One Occurrence
Hangarkeepers Limit, Any One Aircraft
Non-Owned Aircraft Liability Limit, Any One Occurrence
Excess Automobile Liability, Any One Occurrence (subject to $1M underlying)
Excess Employers Liability, Any One Occurrence (subject to $1M underlying)
Employee Benefits Liability Aggregate
Cargo Legal Liability
Added Provisions: Airport Expansion Endorsement, which includes:
✓ Broad form Insured
✓ Knowledge of Occurrence
✓ Control Tower - Contingent
✓ On - Airport Premises Auto Coverage
✓ Mobile Equipment
✓ Baggage Liability
✓ Damage to Autos
✓ Static Display of Aircraft
✓ Co-Employees (Deletion of Fellow Employee Coverage)
National Incident Management System -$50,000,000 per occurrence subject to sub-limits:
$50,000,000 Products-Completed Operations Aggregate
$50,000,000 Personal and Advertising Injury Aggregate
$50,000,000 Malpractice Aggregate
$50,000 Fire Damage Limit, any one fire
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: 03/12/2024 Prepared for City of Lubbock �
Confidential. O 2021 USI Insurence Services. All rights reserved.
, � 9
$10,000 Medical Expense Limit, any one person
Excludes Hangarkeeper's Liability and Non-Owned Liability
Also Included:
✓ Extended Coverage - War, Hi-Jacking and Other Perils
✓ Amendment to Include Coverage for Certified Acts of Terrorism
✓ Catastrophe Management Coverage
✓ Worldwide Territory
✓ Mutual Aid Agreement
✓ Immunity Waiver
✓ Volunteers Endorsement
✓ Amendment of Noise and Pollution and Other Perils Exclusion
✓ Land Acquisition Endorsement
✓ Date Recognition Limited Coverage
✓ Infringement of Copyright, Patent, Trademark or Trade Secret
✓ Amendment to Supplementary Payments (Court Cost) Endorsement
✓ 120 days notice of cancellation / 10 days for non-payment
✓ Exclusion - Access or Disclosure of Confidential or Personal Information
✓ Exclusion — Perfluorinated Chemicals
Premium Overview
Description
2023 Expiring 2024 Renewal
Premium Premium
Airport owner & operator's liabilitv:
Liability limit @ $50,000,000
War Coverage
Terrorism (TRIA) Coverage
Total Annual Premium:
Excluded coverage may be available for an additional premium.
$33,366
$834
$3,337
$37,537
$36,880
$922
$3,688
$41,490
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 coverege 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: 03/12/2024 Prepared for City of Lubbock �
Confidential. O 2021 USI Insurence Services. All rights reserved.
• I �a