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HomeMy WebLinkAboutResolution - 2014-R0299 - Purchase - Excess Liability Insurance - Atlantic Specialty Insurance Co. - 09/04/2014Resolution No. 2014-RO299 September 4, 2014 Item No. 2.12 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City Manager of the City of Lubbock BE and is hereby authorized and directed to purchase for and on behalf of the City of Lubbock, excess liability insurance coverage from Atlantic Specialty Insurance Company, for a premium amount not to exceed $336,233 or the amount adjusted due to changes in the premiums required as a result of the annual audit; and THAT the City Manager may execute any routine documents and forms associated with said insurance coverage. Passed by the City Council this September 4, 2014 G ROB . TSON, MAYOR ATTEST: Rebe ca Garza, City Secre APPROVED AS TO CONTENT: Leisa Hutcheson, Director of Human Resources and Risk Management APPROVED AS TO FORM: Jeff Har ell, Assistant City Attorney RES.Risk Mgmt-Atlantic Specialty Ins. August 27, 2014 Commercial Liability Package Named insured: City of Lubbock Insurance carrier: Atlantic Specialty Insurance Company — Admitted A.M. Best rating: A XI as of 2014 Policy number: TBD Policy term: 10/1/14 to 10/1/15 Premium: 5336,233 including a TRIPRA premium charge of $2,671 General liability Coverage: Your legal liability to members of the public for claims arising from your premises, operations, products, or completed operations. Limits of liability: S 1,000,00o General aggregate limit (other than products/completed operations) 5 1,000,00o Products/completed operations aggregate limit Coverage A - Bodily Injury and Property Damage: $ 1,000,00o Each occurrence Self -Insured Retention: $ 500,00o Each occurrence Coverage B - S 1,000,00o Personal and Advertising Injury Self -Insured Retention: $ 500,00o Each Offense $ 1,0000,00o Damage to premises rented to you (any one premises) Coverage C - Health Care and Social Services $ 1,000,00o Each Wrongful Act Self -Insured Retention: $ 500,00o Each Wrongful Act Cemetery Failure to Supply S 1,000,00o Each Occurrence Sexual Abuse Abuse S 1,000,00o Each Occurrence Coverage form: Occurrence Dam, Lake, Pond, or Reservior Existence Hazard without Structural Failure General purpose government risks organized as cities, towns, townships, villages or boroughs ___ __ Streets, Roads, Highways or Bridges - existence and maintenance hazard only 41702 1 Acres 44114 This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only. This is a quotation of coverage only. It is not a binder. This proposal does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 8/25/2014 Prepared for City of Lubbock Confidential. © 2014 Wells Fargo Insurance Services USA, Inc. All Rights Reserved. Page 28 Commercial Package (continued) Professional liability Excess limits go over the following coverages: General Liability, Professional Coverage: Your legal liability to members of the public for claims arising from your premises, operations, products, or completed operations. Limits of liability: Public Officials Errors & Omissions $ 1,000,00o Each Wrongful Act $ 1,000,000 Aggregate $ 500,000 Self -Insured Retention Automobile bodily injury and property damage liability, subject to terms, Retro Date o9/10/1999 $ 1,000,00o Liability Public Officials Employment Practices $ 1,000,00o Each Offense $ 1,000,00o Aggregate $ 500,000 Self -Insured Retention $ 1,000,00o Uninsured/Underinsured Motorists Retro Date o9/10/1999 $ 5,000 Medical Payments Automobile Coverage Public Officials Employee Benefits $ 1,000,00o Administration $ 1,000,00o Each Offense $ 500,00o Aggregate Self -Insured Retention Retro Date o9/10/1999 Law Enforcement Liability $ 1,000,00o Each Wrongful Act $ 1,000,00o Aggregate $ 1,000,00o Self -Insured Retention Excess liability Coverage: Excess limits go over the following coverages: General Liability, Professional Liability, Auto Liability and Employers Liability. This agreement is provided on a following -form basis designed to follow all of the provisions of the underlying coverages with the following general exceptions: Pollution, Failure to Supply, Sexual Abuse and Uninsured/Underinsured Motorist Limits of liability: Excess Liability Aggregate Limit $ 18,000,000 All Claims excess of Underlying Insurance $ 9,000,00o Each Claim excess of Underlying Insurance Automobile liability Coverage: Automobile bodily injury and property damage liability, subject to terms, conditions, and limitations of the policy. $ 1,000,00o Liability $ 500,000 Self -Insured Retention Hired Auto - Covered Hired Excess Auto Liability Non -Owned Auto - Covered Non -Owned Auto Liability $ 1,000,00o Uninsured/Underinsured Motorists $ 5,000 Medical Payments Automobile Coverage 10 Other Symbols: Composite Rated — Based 1,413 Vehicles on: This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only. This is a quotation of coverage only. It is not a binder. This proposal does not amend or alter the insurance contract. Please refer to the policy contract for specific terms, conditions, limitations, and exclusions. Proposal date: 8/25/2014 Prepared for City of Lubbock Confidential. © 2014 Wells Fargo Insurance Services USA, Inc. All Rights Reserved. Page 29