HomeMy WebLinkAboutResolution - 2012-R0338 - Purchase - Inland Marine Insurance Coverage - Travelers Lloyds Insurance Co. - 09/13/2012Resolution No. 2012-RO388
September 13, 2012
Item No. 5.17.A.
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, inland marine insurance coverage
from Travelers Lloyds Insurance Company, for which the premium amount shall not
exceed a rate of .2065 per $100.00; and
THAT the City Manager may execute any routine documents and forms
associated with said insurance coverage.
Passed by the City Council this September 13, 2012
GL/4BATS<ON,AYOR
ATTEST:
Reb cca Garza, City Secret
APPROVED AS TO CONTENT:
&I
Quincy WVt, Assistant City Manager
APPROVED AS TO FORM:
Chad Weaver, Assistant City Attorney
gs/ccdocs/RES. Risk Mgmt-Travelers Lloyds Ins
8.21.12
Wells Fargo Insurance Senices
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INSURANCE AriNcY
INLAND MARINE
Insurance Company The Travelers Lloyds Insurance Company
A+ XV - Admitted
Effective Date: 10-01-12 to 10-01-13
Location Address: Statement of Values attached
COVERAGE
Limits
BROADCASTING & MEDIA EQUIPMENT
$
Not Covered
Radio & Television Towers
$
756,289
Transmitting, Receiving and Studio Operating
Equipment
$
5,682
BHC Sound Equipment
$
6,820
SWM Sound Equipment
$
768,791
Property at Your Premises Total Limit
$
Not Covered
Data & Media
$
Not Covered
Scenery, Costumes & Theatrical Property
$
Not Covered
Improvements & Betterments
$
Not Covered
Buildings as covered by this form
$
Not Covered
Mobile & Portable Equipment (per schedule on file w
company)
$
Not Covered
Other Property
$
Not Covered
Tower Collapse
$
ACV
Actual Cash Value Valuation
$
2,500
Deductible
COVERAGE EXTENSIONS
Tuning of Towers Up to $5,000
Property at Temporary Location Up to $50,000
ADDITIONAL COVERAGES
Debris Removal Up to 25%
Pollutant Clean Up & Removal Up to $10,000
Valuable Papers & Records
Up to $10,000
Fire Department Service Charge Up to $2,500
Fire Protective Equipment Recharge Up to
$2,500
Newly Acquired Property Up to $100,000
This information is intended to be reviewed by the representatives for the entity and no other parties. ReAew by persons
other than the entity's representatives is prohibited. Likewise, dissemination or copying of this document or the information
contained herein to persons other than the entity's representative is also prohibited.
Wells Fargo Insurance Services
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INSURANCE AGENCY
COVERAGE
Limits
FINE ALTS - MUSEUMS
$ 561,545
BHC Accessioned
$ 439,900
BHC Items in Loan
$ 59,385
BHC Items Owned
$ 263,733
SWM Accessioned
$ 800,615
SWM Items In Loan
$ 2,141,680
Property at Your Premises Total Limit
$ 500,000 Property at any other location
$ 250,000 Property in transit
$ No Coverage Flood
$ No Coverage Earth Movement
$ 250,000 Temporary Exhibits at your premises
$ 2,500 Deductible
EXTENSIONS
■ Debris Removal Lesser of 25% of Basic LOI or $10,000
■ PolIutant Cleanup and Removal Up to $10,000
■ Parcel Post & Registered Mail Up to $1,000 per package, $25,000 any one Occurrence
■ Expediting Expenses Up to $25,000
■ Inventory, Appraisals & LAE Up to $10,000
■ Fire Department service Charge Up to $5,000
■ Refilling of Fire Protective Devices Up to $5,000
■ US Indemnity Clause Up to $500,000
Rate - .2065 Fine Arts
This information is intended to be reviewed by the representatives for the entity and no other parties. Review by persons
other than the entity's representatives is prohibited. Likewise, dissemination or copying of this document or the information
contained herein to persons other than the entity's representative is also prohibited.