HomeMy WebLinkAboutResolution - 2020-R0398 - LP&L Property InsuranceResolution No. 2020-RO398
Item No. 6.6
November 17, 2020
RESOLUTION
IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the actions of the City Manager of the City of Lubbock in purchasing for
on behalf of Lubbock Power and Light, the City's municipal utility, property
ance coverage to include boiler and machinery is hereby ratified. The subject
ers are listed in the attachment along with the terms and conditions and said
hment is incorporated hereto as if fully set forth herein; and
THAT the City Manager may execute any routine documents and forms
Led with said insurance coverage.
by the City Council this November 17, 2020
DANIEL M. POPE, MAYOR
AI HI ST:
Rebec Garza, City Secre a ry
APPROVED AS TO CONTENT:
D."Alu Koefelich, Chief Financial Officer
APPROVED AS TO FORM:
J f r "eli, Deputy City Att rney
RES.Risk Mgmt-LP&L Property Ins.
November 1, 2020
lukOP8sId
Lubbock Power & Light,
o cy ear
the City of Lubbock's municipally owned electric utility
2020-2021
Description
Values: Rates
Premium
urpus Lines Tax & Fee
Property Damage including Business Interruption
$460,137.051 S0 3655
$1 681 598
$84,080
Standalone Terrorism Policy
3 ,0 1 0.
8,8
9
Loss Control Services
Services provided by AEGIS
$11,970
$0
Placement ervice Fee
Services provided by Wortham
$40,000
$2,000
APPA Marketing Fee
Annual Property Premium Including:
Taxes/FeeelAddl6onal Servlcearrerrorism
$100
$0
$1,839,540
All In Property Rate Per 100 Insured
$0.3998
Garners
OpAIG 1
(tionPremium
Argentina
Munich Re
AEGIS'
Travelers
Armin'
$2400000.00
$ 1650000.00
$ 1083,987.00
It ITOX 0.0
2,1 0,000,00
1,800,0 ugo
Line Sae
18,00°
25.00%
15.00%
33.00%
5.00%
4%
Oley 1111111
• Denotes Annual Aggregate
$360,000,000
$360,000,000
$360,000,000
$380,000,000
$380,000,000
$360,000,000
Earth Movement
$250,000,000
$250.000,000
$250,000,000
$50,000,000
$250,000,000
$250.000.000
Earth Movement (High Hazard) Excludes CA ED
No Coverage
$20.000,000
$20,000,000
No Coverage
$ 20,000,000.00
$20,000,000
Flood
$250,000,000
$250.000,000
$250,000,000
$50,000.000
$250.000,000
$250,000,000
Flood Zane A or V(High Hazard)
$5,000,000
$30.000,000
$30,000,000
No Coverage
$301000,000
$30,000,000
Named windstorm (High Hazard)
$250,000,000
$10D,000,000
$100,000,000
$50,000,000
$100,000,000
$100,000,000
Newly Acquired Property
$50,000,000
$50,000,000
$50.000,000
$10,000.000
$10.000.000
$50.000,000
Property in the Course of Construction
$25,000,000
$25,000,000
$25,000,OD0
$10,000,000
$10.000,000
$25.000,000
Personal Property
$1,000,000
$10.000,000
$10,000.000
$5.000.000
$1,000,000
$10,000,000
Valuable Papers and Records
$5,000,000
$5,000,000
$5,000,000
$5.000,000
$1,000,000
$5,000,000
Accounts Receivable
$10,000,000
$10,0001000
$10.000.000
$5,000,000
$1,000,000
$10.000,000
Debris Removal (25%or)
$25.000,000
$25,000.000
$25,000,0D0
$5,000,000
$15,000,000
$25.000.000
Fire & Police Department Charges & Extinguishing
Cost
$2 000 000
$2,000,000
$2,000,000
$1,000,000
$1,000,000
$2,000.000
Expediting Expense
$5,000,000
$5,000.000
$5,000,000
$5,000,0t10
$5,000.000
$5,000,000
Property in Transit
815,000,000
$15,000,000
$15.000.000
$10,000.000
$15.000,000
$15,000.000
9/29/2020
Ingress/Egress and Prohibited Access
30 Days / 1 Mile
30 Days
30 Days
30 Days- 1 Mile Limitation
30 Days 1 Mile limit
30 Days
Civil or Military Authority
30 Days 11 Mile
30 Days
30 Days
30 Days-1 Mile Limitation
30 Days 1 Mile limit
30 Days
Hazardous Substances or Contaminants-PropertyI
$1,OOD,000
$5,000,0DO
$5,000,000
$500,000
$1,000,000
$5.000,000
Hazardous Substances or Contaminants-
Land and Water AnnualAggregate)
$25,000
Included Above.
include above
included above
Included Above
Demolition and Increased Cost of Construction
$25,000,000
$25,000,000
$25,000,000
$5.000,000
$15.000.000
$25,000,000
Emors and Omissions
$10,000.000
$10.000,000
$10.000,000
$10,000,000
$1.000,000
$10,000,000
Miscellaneous Unnamed Locations
$10,000.000
$10,000.000
$10,000,000
$5.000,000
$1.000.000
$10.000,000
Impounded Water
30 Days
30 Days
30 Days
30 Days
30 Days
30 Days
Fine Ads
$25.000
$5,000,000
$5,000.000
$1.000,000
$1,000.000
$5,000,000
Rental Transformers & Spare Equipment
$10,000,000
$10.000,000
$10,D00,000
Excluded
$1,000.000
$10,000,000
Professional Fees
$500,000
$500,000
$5001000
$ 500.000.00
$500,000
$500,000
Recovery of Salvage
No Coverage
$5,000,0DO
$5,000,000
Excluded
S5,000,000
$5,000,000
Pair &Set
$10,000,000
$10,000,000
$10,000,000
Excluded
$1,000,000
$10,0001000
Electronic Data Processing Media Valuation
$10.000,000
$25.000,000
$25,000,000
$5000,000
$1,000,000
$25,WO,000
Extra Expense
$5,000,000
$15,000,0DO
$15,000,000
$5,000,000
$5,D00,000
$15.000,000
Contingent Time Element
$1,000,000
$2,500.000
$1,100,000
$1,100,000
$1,100,0DO
$1,100,000
Rental & Leased Equipment
No Coverage
$5,000,000
$5,D00,000
$1,000,000
$5,000,000
$5,000,000
Business Interruption
$6,500.000
$6,500,000
$6,500,000
$6,500,000
$6,500,ODO
$6,500,000
9/2912020
Steam Tumine Generators including Machinery
Breakdown
$1,000.000
$5.000,000
$500,000
$1.000.000
$5.000.000
$5,000,000
Combustion Turbine Generators Including
Machinery Breakdown
$1,000,000
$5.000,000
$500,000
$1.000.000
$5,000.000
$5,000.000
Cooke #2 54.3MW Turbine or Generator including
Machinery Breakdown
$1,000.000
$5.000,000
$500,000
Excluded
$5.000.000
$5,000.000
Massengale #8 43MW Turbine or Generator
micuding Machinery Breakdown
$1,000,01D0
$5,000,D00
$1.500,000
$1,000,000
$5,000.000
$5,000,000
Transit
$1,000,000
$250.000
$50,000
$250.000
$250,000
$250,000
Electronic Data Processing Equipment
$1,000,000
$250.000
$10.000
$50,000
$250,000
$250,000
Contractors Equipment
$1,000.000
$250,000
$10.000
$5D,000
$250,000
$250.000
2.50%, subject to
2.50%, subject to
2.50%, subject to
2.50%, subject to
minimum of $500,000 and
minimum of $500,000 and
2.50% min $1.000,000 -
minimum of$500,000 and
minimum of $500,000 and
Flood (High Hazard
$1,000,000
maximum of $5.000,000
maximum of $5,000,000
HH Flood Excluded
maximum of $5,000,000
maximum of $5,000.000
2.50%, subject to
2.50%, subject to
2.50%, subject to
2.50%, subject to
Named Windstorm
$1,000,000
minimum of $100,000
minimum of $100,000
2.50% min $000,000
minimum of $100,000
minimum of $100,000
2.00%. subject to
2.00%, subject to
2.60% min $1,000,000 -
2.00%, subject to
2.00%, subject to
Earth Movement (High Hazard)
$1,000,000
minimum of $100,000
minimum of $100.000
HH ED Excluded
minimum of $100,0D0
minimum of $100,000
$1.50KVA, subject to a
$1.50KVA, subject to a
$1.50KVA, subject to a
$1.50KVA, subject to a
Transformers
$1.000.0GOI
minimum of $100,000
minimum of $350,000
11.501KVA. min $1,000,D00
minimum of $100.000
minimum of $100,000
Standalone Temorsm Policy
$25,000
Time Element
45 Days Waiting Period,
except 60 Days
Business Interruption
60 Do s Waitin Period
45 Day
Massengale #8
45 Day
45 Da
60 Days
Contingent Business Interruption
80 Days Wailing Period
45 Day
15 Days
45 Day
45 Day
60 Days
Valuation: Actual Cash Value • Cooke Units f,2, CTG1 and CTG3
s
t4
AGV WIm Max Sl ben
ACV win Max STEM
Debra Removal
Debris Removal
on all tumme generators
on all turbine generators
except Brandon 1 and
except Brandon 1 and
Massengale 8
Massengale 8