1-Submission Forms.pdf

PROPOSAL SUMMARY FORM

PROPERTY INSURANCE COVERAGE

Proposer:

(Proposing Company)

(Security Name/Underwriting Company Name)

(Proposer Representative Name and Title)

(Address)

Date:

I. Total Insured Value: $540,941,130

POLICY LIMITS AND DEDUCTIBLES

Requested Loss Limit: $100,000,000

Deductible per occurrence as noted below:

Peril Limits Deductible

Flood $100,000,000 Non-SFHA $100,000

$25,00,000 SFHA $500,000

Conv Storm/Hail $100,000,000 1% per unit subject to $2,500,000 Minimum

All Other Perils $100,000,000 $100,000

Annual Premium $

*If the proposal is for a layered insurance program, attach a Schedule of Loss Limit Participants, including, but not limited to, identification of layer and layer limits, security/underwriter name, and the percentage and amount of participation for each underwriter.

A. ALTERNATE POLICY LIMIT AND DEDUCTIBLES

Loss Limit: *

Deductible per occurrence as noted below:

Peril Deductible

Flood % per unit subject to $ minimum and $ maximum

Windstorm/Hail from % per unit subject to $ minimum and $ maximum

All Other Perils $

Annual Premium $

*If the proposal is for a layered insurance program, attach a Schedule of Loss Limit Participants, including, but not limited to, identification of layer and layer limits, security/underwriter name, and the percentage and amount of participation for each underwriter.

II. TERRORISM INSURANCE

A. Will the Proposer offer a separate stand-alone Terrorism Insurance Policy for an additional charge? If so, please complete the following.

Property Value $540,941,130

Loss Limit $100,000,000 Max Deductible $0 or Deductible Option

Annual Premium

III. OTHER OPTION ALTERNATIVES

In addition to ALTERNATE POLICY LIMIT AND DEDUCTIBLES, the Proposer may offer alternative limits, structures, or terms to Option Items I – V. If offering alternatives, please specify the variations or deviations from those requested above, as applicable.

PROPOSAL COVERAGE SUMMARY FORM

PROPERTY INSURANCE COVERAGE

Coverage: Sub-limits

Newly Acquired Locations $

Earthquake Aggregate $

Flood Aggregate $

Pollution Cleanup $

Demolition/Increased Cost of Construction $

Unnamed Locations $

Property In Transit $

Accounts Receivable $

Debris Removal $

Valuable Papers $

Errors and Omissions $

Ordinance or Law/Increased Cost of Construction $

Extra Expense $

Others:

The City would be willing to evaluate any and all options submitted by carriers. If you are interested in offering coverage other than requested above, please feel free to do so and it will be evaluated by the City.

Minimum

Specifications Clarification**

Term:

Annual-Effective 10-01-26, 12:01 a.m. CST Yes

Notice of Cancellation 60 days

Notice of Cancellation – Non-payment 10 days

Notice of Non-renewal 60 days

Newly Acquired Property – Real and Personal Property Service Interruption

180 days

72 Hrs

Type of Coverage:

Commercial Property

Yes

Time Element Coverage Yes

Direct Property Damage Coverage:

Improvements and Betterments Yes

Signs/Antennas Yes

Fences Yes

Scheduled Property Yes

Newly Acquired Property – Real and Personal Property

Yes

Property of Others – Legal Liability Yes

Electronic Data Processing – Equipment and Media

Yes

Pollution Clean-Up Yes

** This column should be used by the Proposer for clarification of coverage or to offer coverage greater than the minimum specifications

Minimum

Specifications Clarification**

Reporting Requirements:

Knowledge of Occurrence – Risk Yes Management, City of Houston Administration & Regulatory Affairs

Valuation of Loss:

Replacement Cost Yes

Reproduction Cost – Electronic Data and Media

Yes

Actual Loss Sustained – Time Element Yes

Agreed Amount – Historical Dwellings Yes

Miscellaneous Coverage:

Joint or Disputed Loss Agreement Yes

Loss Adjustment Expenses Endorsement Yes

** This column should be used by the Proposer for clarification of coverage or to offer coverage greater than the minimum specifications

PROPOSAL QUESTIONNAIRE

COMPLETION OF THIS QUESTIONNAIRE IS MANDATORY

ADDITIONAL CONSIDERATION WILL BE GIVEN TO PROPOSERS THAT PROVIDE

COVERAGE ABOVE SCOPE OF WORK IN MINIMUM REQUIREMENTS.

Proposer:

(Proposing Parent Company Name)

(Security Name/Underwriting Company Name)

(Proposer Representative Name and Title)

(Address)

Date:

I. PREMIUM

A. The City is interested in an annual policy quotation. Please provide any options, including multi-year guaranteed rate options, and detail any loss ratio requirements including any premium increase or decrease options.

B. Will the Proposer agree to make premium adjustments quarterly for additions and deletions to the property values occurring during the policy year?

[ ] Yes [ ] No

C. For multi-year policies, will the Proposer agree to make premium adjustments after each anniversary rate date for additions and deletions to the property values?

D. If the answer to Section I, Paragraph B, or C is “Yes,” explain what criteria will be used to adjust premiums.

E. Does the proposed premium include TRIA insurance coverage as part of the standard policy form?

II. COINSURANCE

A. Will the Proposer waive coinsurance as a requirement for covered property?

III. CANCELLATION PROVISIONS

A. Should the City desire to cancel the policy, will the premiums be adjusted?

B. If the answer to Section III, Paragraph A is “Yes,” explain criteria used to adjust premiums.

IV. CLAIM SERVICE

A. Will the City be required to report losses which will not exceed the deductible?

B. Will the Proposer assist the City in determining losses through the investigation and settlement of the claim?

V. GENERAL

A. Will the policy allow for coverage of the property of others, which is subject to the care, custody, and control of the City or for which the City is legally liable, including but not limited to that property in the McKinney Police Department Property Room?

B. Will the policy allow for coverage on an “Agreed Amount Basis” for all historical buildings?

C. Will the policy allow for coverage of scheduled locations where there may be an error in the description?

D. Will the policy allow for a waiver of the vacancy and unoccupancy clause?

Comments:

E. Will the Proposer be willing to maintain coverage for newly acquired leased locations for more than one-hundred eighty (180) days and provide automatic coverage for newly acquired leased locations if the total value of the leased locations does not exceed 2% of the total insured value of scheduled properties?

F. Is the Proposer willing to provide, under the occurrence limit of insurance, a margin of 110% of the total stated value for property involved in a loss subject to the maximum policy limit of insurance?