F4BDC816-9C4F-4B9E-B1EB-B59E78D862E4.pdf

This is an Acknowledgement and Instruction to Bind document dated June 4, 2024, for Fine Arts insurance coverage renewal. The document involves the Board of Regents of the University of Nebraska as the contracting entity and Aon Risk Services Central, Inc. ("Aon," "Commercial Risk Solutions") as the insurance program administrator. The agreement binds the selected insurance carriers to provide coverage under the terms outlined in the renewal proposal and incorporates Aon's Commercial Risk Solutions U.S. Business Terms and the General Data Protection Regulation (GDPR) requirements.

The renewal proposal presents three coverage options for Fine Arts insurance. Option 1 is a Fine Arts policy with an undisclosed limit and a premium of $318,348, which was declined by the University. Option 2 is a Fine Arts policy with an undisclosed limit and a premium of $322,739, which was accepted. Both options are provided through various participating carriers. Additionally, a TRIA (Terrorism Risk Insurance Act) option is available through various participants with no quoted premium. All premiums exclude Surplus Lines Taxes and policy surcharges or taxes. The document emphasizes the proposal's alignment with museum collection management best practices, including maintaining current valuations, monitoring upcoming exhibitions and loans, and ensuring maximum insurable values are maintained.