HomeMy WebLinkAboutInsurance Proposal SummaryRenewal Proposal
June 1, 2011 to 2012
} Marsh Risk & Insurance Services
345 California Street, Suite 1300
San Francisco, CA 94104
CA Insurance License #0437153
a www.marsh.com
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
PREMIUM SUMMARY AND OPTIONS
JUNE 1, 2011 TO 2012
BLUE = change from prior year
COVERAGE
Expiring Program
Renewal Program
Renewal Program
2010-2011
Options Received
[RECOMMENDED]
2011-2012
2011-2012
Carrier
Premium
Carrier
Premium
Carrier Premium
Package (GL/AL/PROP/
OneBeacon
171,002.00
One Beacon / $1 K Ded
184,950.00
One Beacon / $25K Ded
148,603.00
E&O/CRIME)
One Beacon / $25K Ded
148,603.00
Excess Liability
AWAC
20,000.00
AWAC
20,000.00
AWAC
20,000.00
Workers' Comp
U.S. Fire
234,346.00
U.S. Fire
224,571.00
U.S. Fire*
224,571.00
(Annualized)
SCIF
Pending
Midlands
Pending
Earthquake
- Primary
Landmark
40,916.94
Landmark
46,688.62
Landmark
46,688.62
-Excess
Essex
23,489.38
Essex
25,462.48
Essex
25,462.48
Crime
Chubb $2MiI / $5K
4,537.00
Chubb $2MiI / $5K Ded
4,537.00
Chubb $2MiI / $5K Ded
4,537.00
Ded
Chubb $2MiI / $25K Ded
3,973.00
Chubb $3Mil / $25K Ded
4,966.00
Travelers $2MiI / $25K Ded
4,000.00
Hartford $2MiI / $10K Ded
8,555.00
Hartford $1 Mil / $5K Ded
6,880.00
Hartford $2MiI / $25K Ded
7,954.00
Pollution
Steadfast $1 Mil
7,349.34
Steadfast $1 Mil /$50K Ded
7,744.00
Steadfast $1 Mil /
18,143.61
/$50K Ded
Steadfast $1 Mil /$25K Ded
8,085.40
$25K Ded (3 Yr Term)
Steadfast $1 Mil /$50K Ded
17,346.31
(3 Yr Term)
Steadfast $1 Mil /$25K Ded
18,143.61
3 Yr Term
Marsh Compensation
Broker Fee
50,000.00
Broker Fee
65,000.00
Broker Fee
65,000.00
TOTALS 2010-2011 551,640.65 2011-2012 553,005.71
% Change from prior year 0.2%
NOTE: WC Commission WC Commission
included in premium 20,516.00 included in broker fee 15,000.00
- Premiums include any applicable SL Taxes and Fees
- Optional TRIA is not included these premiums
*` Currently being reviewed
Page 2 of 10
Truckee Donner Public Utility District
Package Policy (General Liability, Auto, Property and Excess Liability)
June 1, 2011 to 2012
BLUE = change from prior year
Expiring Renewal Option 1 Renewal Option 2
6/1/2010-2011 6/1/2011-2012 1 6/1/2011-2012
arner & A.M. hest Kating
unetseacon ins. uo.
unebeacon ins. uo. unetseacon ins. u
AXII *
AXII * AXII
operty Coverage:
i
gilding Limit
$47,829,666
$61,797,245 $61,797,245
:rsonal Property Limit
$3,291,848
$2,798,054 $2,798,054
asiness Income & Extra Expense
$2,500,000
Same as Expiring Same as Expiring
anket Flood Limit
$10,000,000
"
)ecial Theft Limits
$10,000
"
luipment Breakdown
$100,000
"
iscellaneous Tools
$495,223
$505,751 $505,751
:)mputer Fraud
$25,000
$25,000 $25,000
Dntractors Equipment - Scheduled
$791,466
$235,480 $235,480
3wly Acquired Locations - Buildings
$2,000,000 / 180 Days
Same as Expiring Same as Expiring
=wly Acquired Locations - Personal Property
$1,000,000 / 180 Days
"
ey Sublimits:
Autant Cleanup Removal
$100,000
"
3bris Removal
$250,000
"
aims Expense
$50,000
"
award
$50,000
"
Dntractual Penalties
$50,000
"
itomatic Seasonal Increase
$100,000
"
ands and Labels
$50,000
"
,asehold Interest
$25,000
"
asiness Income or Extra Expense Utility
$25,000
"
Dpendent Properties
$100,000
"
;ssor's Lease Cancellation
$25,000
"
:ssors Tenant Relocation Expense
$25,000
"
mited Coverage for Fungus, Rot and Bacteria -
$15,000
"
Igregate
ectric Data Damage or Destruction
$50,000
"
)ft Costs
$25,000
"
;mporary Reloaction of Property During Renovation
$100,000 / 90 Days
"
Remodeling
icket Limits:
$500,000
"
Personal Effects
Valuable Information Property
Accounts Receivable
Outdoor Property
Hardware and Media
Tenants Improvements and Betterments
Electric Data Damage
ne Arts - Per Item
$10,000
"
•operty in Transit
$50,000
"
ternational Air Shipments
$25,000
"
operty at Other Locations
$50,000
"
-ime Limits:
$25,000
"
Money & Securities
Employee Theft
Money Orders and Counterfeit Paper
Forgery and Alteration
Inside Premises - Robberty or Safe Burglary or
- ERISA Employee Theft
ductibles
Property and All Other
Flood
$1,000
$25,000
$1,000 $25,000
$25,000 $25,000
neral Liability Coverages:
h Occurrence Limit -Bodily Inujury and Property
$1,000,000
Same As Expiring Same As Expiring
mage Liability (Coverage A)
-sonal & Advertising Injury Limit (Coverage B)
$1,000,000
"
neral Aggregate Limit
$5,000,000
"
)ducts/Completed Operations Aggregate Limit
$5,000,000
"
mage To Premises Rented To You Limit
$1,000,000
"
lure to Supply
$1,000,000
"
dical Expense Limit
Excluded
ductible
$1,000 for A&B
$25,000 for A&B
Page 3 of 10
Truckee Donner Public Utility District
Package Policy (General Liability, Auto, Property and Excess Liability)
June 1, 2011 to 2012
BLUE = change from prior vear
Expiring
Renewal Option 1
Renewal Option 2
6/1 /2010-2011
6/1 /2011-2012
6/1 /2011-2012
Carrier & A.M. Best Rating
OneBeacon Ins. Co.
OneBeacon Ins. Co.
OneBeacon Ins. Co.
AXII *
AXII *
AXII
Automobile Coverages:
Auto Liability
$1,000,000
Same As Expiring
Same As Expiring
- Limit
Hired Auto Liability
"
Comprehensive
$100,000
"
Collision
$100,000
"
Deductible
$1,000 / $1,000
$25,000 / $25,000
Uninsured Motorist BI
Same As Expiring
- Limit
$1,000,000
"
Rental Reimbursement
$450 Max / 30 Days
"
Professional Liability Coverages:
Errors & Omissions
$1,000,000
Same As Expiring
Same As Expiring
Each Wrongful Act
Aggregate
$5,000,000
"
Deductible
$10,000
$25,000
Employment Practices
$1,000,000
Same As Expiring
Each Offense
Aggregate
$5,000,000
"
Deductible
$10,000
$25,000
Employee Benefits
$1,000,000
Same As Expiring
Each Offense
Aggregate
$5,000,000
"
Deductible
$1,000
"
Excess Liability Coverage:
Aggregate Limit
$10,000,000
Same As Expiring
Same As Expiring
Each Claim
$10,000,000
"
Annual Premium
$171,002.00
$184,950.00
$148,603.00
Optional TRIA Premium
Rejected
$2,183.00
$1,711.00
Change in Premium from Expiring:
7.54%
-15.07%
Marsh Commission
N/A
N/A
N/A
MARKETING SUMMARY:
OneBeacon Insurance Company
Quoted
Glatfelters
Declined
Midlands
Declined
Travelers
Declined
Philadelphia
Declined
ACE
Declined
Amwins
Declined
Safety National
Declined
Chartis
Declined
Genesis
Declined
Ironshore
Declined
CV Starr
Declined
Page 4 of 10
Truckee Donner Public Utility District
Excess Liability
June 1, 2011 to 2012
Carrier & A.M. Best Rating
Excess Liability Limits:
Each Occurrence and Aggregate Limit
Excess of Underlvina Limits
Annual Premium
Optional TRIA Premium
Change in Premium from
Marsh Commission
Expiring Renewal
/2010-2011 6/1 /2011-2012
Ailed World Allied World
AXV * AXV *
$10,000,000 Same As Expiring
$20,000.00 $20,000.00
Rejected $800.00
0.00%
N/A N/A
Page 5 of 10
A.M. Best Rating
Policy Limits
Workers' Compensation
Employers Liability:
Each Accident
Policy Limit
- Each EmDlovee
Truckee Donner Public Utility District
Workers' Compensation and Employers' Liability
June 1, 2011 to 2012
Expiring Renewal Option 1 Renewal Option 2 Renewal Option 3
7/1/2010-6/1/2011 1 6/1/2011-2 1 6/112011-2012 1 6/1/2011-2012
U.S. Fire Ins. Co. U.S. Fire Ins. Co. SCIF Midlands
AXIII * AXIII (No Rating) AVIII
Statutory Same as Expirig
$1,000,000 $1,000,000
$1,000,000 $1,000,000
$1,000,000 $1.000.000
Exposure and Rate:
Estimated Payroll $ 5,845,053.33 $ 5,649,923.00
Composite Rate (Incl. Premium and Surcharges) 0.0368 0.0397
Premium:
11 Month Premium $214,817 **
Annualized Premium $234,346.00 $224,571.00
TRIA Premium Included, not rejectable Included, not rejectable
Change in Premium from Expiring: -4.35%
Change in Exposures from Expiring: -3.45%
Change in Rate from Expiring: 7.54%
Pending Pending
(Marsh Commission (Included in Premium) 10.00% 10.00% 1
U.S. Fire Ins. Co. ** Quoted - Still being reviewed
State Compensation Pending
Midlands Management Pending
Zenith Declined - Could not compete with renewal pricing
Chartis Declined - Does not meet minimum premium
Page 6 of 10
Truckee Donner Public Utility District
Difference In Conditions - Primary and Excess
June 1, 2011 to 2012
Expiring Renewal
1/2010-2011 6/1/2011-2C
Carrier & A.M. Best Rating
Landmark AXII and
Landmark AXII and
Essex AXIII *
Essex AXIII
Total Insurable Values
$53,698,313
$61,272,101
DIC Primary Limits
$5,000,000
$5,000,000
DIC Excess Limits
$5,000,000
$5,000,000
Deductible
5% subject to a
5% subject to a
minimum of $25,000
minimum of $25,000
Premium:
Primary Premium
$39,629.00
$45,219.00
Excess Premium
$22,750.00
$24,661.00
Surplus Lines Taxes and Fee
$1,287.94
$2,271.10
Total Premium Including Taxes and Fees
$63,666.94
$72,151.10
Minimum Earned Premium
25%
25%
Optional TRIA Premium
Rejected
$49,229.60
Change in Premium from Expiring:
12.36%
Change in Exposures from Expiring:
12.36%
Change in Rate from Expiring:
0.00%
Marsh Commission
N/A
Page 7 of 10
Truckee Donner Public Utility District
Crime
June 1, 2011 to 2012
BLUE = change from prior year
Expiring
Renewal Option 1
Renewal Option 2
Renewal Option 3
Renewal Option 4
Renewal Option 5
Renewal Option 6
Renewal Option 7
6/1/2010-2011
6/1/2011-2012
6/1/2011-2012
6/1/2011-2012
6/112011-2012
6/1/2011-2012
6/112011-2012
6/1/2011-2012
COVERAGE
Carrier &
Federal Ins. Co.
Federal Ins. Co.
Federal Ins. Co.
Federal Ins. Co.
Travelers
Hartford
Hartford
Hartford
A.M. Best Rating
A++XV *
A++XV *
A++XV *
A++XV *
(A+XV) *
AXV *
AXV *
AXV *
Crime Coverage Section
Employee Theft
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Premises
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Transit
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Forgery
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Computer Fraud
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Funds Transfer Fraud
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Money Orders & Counterfeit
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Fraud
Credit Card Fraud
$2,000,000
$2,000,000
$2,000,000
$3,000,000
$2,000,000
$2,000,000
$1,000,000
$2,000,000
Client
$2,000,000
$2,000,000
$2,000,000
$3,000,000
Expense
$25,000
$25,000
$25,000
$25,000
$25,000 / $0 Ded
$25,000 / $0 Ded
$25,000 / $0 Ded
Deductible Options
$5,000
$5,000
$25,000
$25,000
$25,000
$10,000
$5,000
$25,000
Notes
Flat Renewal
Rate Guarantee Avail
Rate Guarantee Avail
Rate Guarantee Avail
Premium
$4,537
$4,537
$3,973
$4,966
$4,000
$8,555
$6,880
$7,954
Change in Premium from
0.00%
-14.20%
8.64%
-13.43%
46.97%
34.06%
42.96%
Expiring:
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marsh Commission
Page 8 of 10
Truckee Donner Public Utility District
Pollution Liability
June 1, 2011 to 2012
BLUE = change from prior year
Expiring Renewal Option 1 Renewal Option 2 Renewal Option 3 Renewal Option 4
6/1/2010-2011 6/1/2011-2012 6/1/2011-2012 6/1/2011-2014 6/1/2011-2014
Carrier & A.M. Best Rating
Limits of Liability:
Each Pollution Event
Aggregate Policy Limit
Deductible Each Pollution Event
Insuring Agreements
A - Cleanup Costs -
Existing Pollution Event
B - Bodily Injury or Property Damage -
Existing Pollution Event
C - Cleanup Costs -
New Pollution Event
D - Bodily Injury or Property Damage -
New Pollution Event
Premium
Surplus Lines Taxes and Fees
Total Premium including
Taxes and Fees
Optional TRIA Premium
Change in Premium from Expiring:
Marsh Commission
Steadfast Ins. Co.
Steadfast Ins. Co.
Steadfast Ins. Co
A+XV*
A+XV*
A+XV*
$1,000,000
$1,000,000
$1,000,00
$1,000,000
$1,000,000
$1,000,000
Yes
Yes
Yes
Yes
$7,118.00
231.34 $
$7,349.34 $
Rejected $
N/A
Yes
Yes
Yes
Yes
$7,500.24
243.76 $
7,744.00 $
75.76 $
5.10%
N/A
Yes
Yes
Yes
Yes
$7,830.90
254.50 $
8,085.40 $
79.10 $
9.10%
N
Steadfast Ins. Co.
Steadfast Ins. Co.
A+XV*
A+XV*
$1,000,000
$1,000,000
$1,000,000
$1,000,000
$50,000
$25,000
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
$16,800.30
$17,572.50
546.01
$ 571.11
17,346.31
$ 18,143.61
169.70
$ 177.50
57.63%
59.49%
N/A
N/A
Page 9 of 10
Truckee Donner Public Utility District
Insurance Proposal
June 1, 2011 to 2012
Please Note:
* A. M. Best ratings of these insurers are provided for information purposes only and are based upon information with respect to
such ratings available to Marsh as of the date of this Proposal. Marsh will not, and will have no responsibility or obligation to,
inform you or any other person(s) relying upon this information of any changes in such Best ratings occurring after such date.
Marsh will have no liability with respect to the solvency or future ability to pay claims of any of the insurance companies which
have issued the insurance policies referenced herein.
This document and any recommendations, analysis, or advice provided by Marsh (collectively, the "Marsh
Analysis") are intended solely for the entity identified as the recipient herein ("you"). This document contains
proprietary, confidential information of Marsh and may not be shared with any third party, including other insurance
producers, without Marsh's prior written consent. Any statements concerning actuarial, tax, accounting, or legal
matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon
as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. "Any
modeling, analytics, or projections are subject to inherent uncertainty, and the Marsh Analysis could be materially
affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should
change. The information contained herein is based on sources we believe reliable, but we make no representation
or warranty as to its accuracy. Except as may be set forth in an agreement between you and Marsh, Marsh shall
have no obligation to update the Marsh Analysis and shall have no liability to you or any other party with regard to
the Marsh Analysis or to any services provided by a third party to you or Marsh. Marsh makes no representation or
warranty concerning the application of policy wordings or the financial condition or solvency of insurers or
reinsurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage.
Page 10 of 10