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HomeMy WebLinkAboutC10-178 EGE Liability Insurance Policy RenewalEagle County Airport Renewal Proposal Airport Liability for Policy Period June 1, 2010 to June 1, 2011 May 12, 2010 ~~RISK SERVICES Cheryl Turner Account Manager Colorado License Number 147945 Mid-Continent Airport 1995 Midfield Road Wichita, KS 67209 Direct Line: +1.316.941.1519 ~~RISK SERVICES Table of Contents I. Executive Summary ....................................................................................................2 II. Details of Coverage /Policy Term /Premium ..........................................................3 III. Detail of Payment Terms ..........................................................................................4 IV. Aon Service Team ....................................................................................................4 V. Service Issues ...........................................................................................................4 Appendix ........................................................................................................................5 This insurance document is furnished to you as a matter of information for your convenience. It only summarizes the listed proposed policy and is not intended to reflect all the terms and conditions or exclusions of such proposed policy. Moreover, the information contained in this document reflects proposed coverage as of the effective date(s) of the proposed policy and does not include subsequent changes. This document is not an insurance policy and does not amend, alter or extend the coverage afforded by the listed proposed policy. The insurance afforded by the listed proposed policy is subject to all the terms, exclusions and conditions of such policy. Proposal Date - 05/12/2010 Eagle County Airport Renewal Proposal Edition Date Feb. 25, 2008 Page 1 ~~RISK SERVICES I. Executive Summary • As discussed, Chards Aerospace (formerly AIG Aviation) has been insuring your risk for the last 16 years. Two years ago, we decided on a complete remarketing effort in order to ascertain if we were still obtaining the best deal for you since we had some relative newcomers in the marketplace. Because of this effort, we had confirmation that Chartis was still the best market to insure you. We have had a few changes in the marketplace so far this year with Starr Aviation acquiring Inter-Aero, and thereby eliminating a market. This acquisition does not effect you in any way but confirms that some changes are coming about. We strongly suggest that in light of this, we continue with Chards again this year and do a complete remarketing next year. Remarketing too often will "burn" out the markets and they won't take the submission seriously. • Chards has offered a 6.5% reduction this year with all coverage's and policy terms and conditions remaining the same as expiring. We will need the signed Disclosure Notice of Terrorism Coverage returned with your indication of accepting or rejecting this coverage as well as the information on your auto policy, ie insurance company, policy number, effective dates and limits. This information is necessary for the Excess Auto Liability coverage. • For complete disclosure of Aon's commissions, please refer to the Quote Disclosure Report located in the Appendix. Acknowledgment and Approval of Insured We hereby acknowledge receipt and review of the information presented in the Renewal Proposal ("Proposal") dated 05/12/10 for Airport Liability and provided in the attached Quote Disclosure Report dated 05/06/10. We hereby instruct Aon Risk Services to bind the insurance program(s) selected by us and understand that our instruction to bind constitutes an acceptance of the terms and conditions and payments described in this Renewal Proposal. We further agree that Aon is entitled to collect from the insurers the compensation set forth in the Quote Disclosure Report. We also acknowledge that Aon has provided information about its contractual agreements and ownership interest(s), if any, in the insurers listed in this Renewal Proposal through Aon's website at htt~://www.aon.com/market_relationshi~s. ...... . ,7 ..~' Date: ~ ~ ~~ On behalf of Eagle County Airport Proposal Date - 05/12/2010 Eagle County Airport Renewal Proposal Edition Date Feb. 25, 2008 Page 2 ~~RISK SERVICES II. Details of Coverage /Policy Term /Premium Each Occurrence Limit $100,000,000 (Includes War Risk @ $50,000,000) Products /Completed Operations Aggregate Limit $100,000,000 Personal & Advertising Injury Aggregate Limit $50,000,000 Medical Expense Limit (any one person) $3,000 Fire Legal Liability (any one fire) $100,000 Hangarkeepers Liability Coverage each aircraft $100,000,000 Hangarkeepers Deductible $2,500 Excess Liability @ $50,000,000 above $1,000,000 For both Auto and Employers Liability Included Annual Premium: $31,070 Market Security: Chartis Aerospace issuing through National Union Fire Insurance Company of Pittsburgh, PA A.M. Best Rating: Rating: A Financial Size Category: XV ($2 Billion or greater) Copies of quotations received from all the insurers for this renewal are attached in the Appendix ARS receives premiums Clients pay for remittance to insurers, as well as refunds insurance companies pay for remittance to Clients, and deposits these payments into fiduciary accounts in accordance with applicable insurance laws until they are due to be remitted. ARS will retain the interest or investment earned while such funds are on deposit pursuant to those laws and insurer agreements. ARS performs various administrative functions related to the procurement of coverage, including, but not limited to, electronic policy filing and storage, expiration tracking, and client data management and administration. Where legally permitted to do so, ARS charges for its own account and collects from its clients, a $250 administrative fee per policy placed. This administrative fee is in addition to and not in lieu of any other service fees agreed to and paid to us by our clients and/or any commissions paid to us by insurers, and this administrative fee appears as a separately billed charge on the invoices we issue. Proposal Date - 05/12/2010 Eagle County Airport Renewal Proposal Edition Date Feb. 25, 2008 Page 3 ~~RISK SERVi~ES III. Detail of Payment Terms • Invoice due upon receipt. IV. Aon Service Team • The account will be serviced this year by: Cheryl Turner Aon Aviation 1995 Midfield Road Mid-Continent Airport Wichita, KS 67209 Direct Phone: 316-941-1519 V. Service Issues Don't hesitate to contact Aon directly for assistance with the following: • Coverage Questions • Billing Questions • Certificates of Insurance • Contract Review Proposal Date - 05/12/2010 Eagle County Airport Renewal Proposal Edition Date Feb. 25, 2008 Page 4 ~~RISK SERVICES Appendix • Quote Disclosure Report • Copy of insurer quote including commission Proposal Date - 05/12/2010 Eagle County Airport Renewal Proposal Edition Date Feb. 25, 2008 Page 5 a U A 0 D a in a~ i D O U W 0 O h.,.. ~ ~ U U o', 0 Q 2 U m m O U N ~ Q N C ai .~ U ~ 0 °o' e o° 0 O 0 69 Q: z 7 a 0 U C m ~° O ~ z a A a ° ~, o O N O ~:, 0 A O c o y y ' :' ¢ a. A A .Y b N ~ ~ T A b y 4 W F 'C N O N o C O 3 ~ y ,o . ~ ~ ~ ai 'o o m $ m ~ ~ ~' T .y N .~ .U 'C7 ~ "V' O U ~ ~ .' " O O O a ~ a y O' ~ ~ ~ ti per, y a`~i 79 ~« .. N ~ m N ~ N b C ~ ^~ a~ A ° m ~ ~ a ~ ~ ~ v ~ , c ° ~ 3 c T ~ o ~ , V O O 'y 7 ~. y R .. 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C~ W ~ C ~ rn bA c d ~ U ~ ce w O ~ O ~,~ o o ?; ^ ~ y .. y V C tV. ^.A C 'p O cy O O N Y O U U 0 0 C U C o' .~ N Z ~ w ° `~ w v 'O W O ~ 'O V F ~ G O 7 U N R ~ ~' ' ' ~ ~ O C~ b O F ~ V ~ ~ V .~ C N ._ ~•• U U .~ N C `~ R w o ~a a'C. ~ i 6. ~ 'O ~ 3 m C ~ ' ~ ~ ,zC o~ ~ ~ a o g m 8 = p ~ s r 3 ~ C O ~ A y C o.~ .^ U ~ ., ~ ~.~ .^ tp .c' .6 .° ~ y ° cv ~° aNi ~ o 'OA o m c 0 " nno ~ .~~ ~ y ~ . ~~ 8 ~ ~ U ~ ~F.~ p .~ ~ ~ .3 " U ~ ~ V m R U F°. a V y o. v~ y V] .7 .C ° ~ F ~ v - a i ~ W c M o v < a a h ~ ^ ~ o ~ ~ Q O Ol 0. Dallas Branch 800 N. Pearl Street, Suite 700 Dallas, TX 75201 Phone: (214) 758-8400 CHART 1 S Fax: (214) 758-8884 FACSIMILE TRANSMISSION DATE: 5/4/2010 TO: Cheryl Turner COMPANY: AON RISK SERVICE, INC. OF KANSAS FAX NUMBER: Programmed SUBJECT: EAGLE COUNTY AIRPORT NUMBER OF PAGES INCLUDING COVER: 3 FROM: Barbara Tomlinson Expires: 06/01/10 Exp. Policy # AP 3229274-16 Based upon the underwriting information supplied, the following quotation is offered for the above referenced prospective insured. This quotation may change or be withdrawn in the event the exposures change, or a loss occurs, prior to the effective date of coverage. This quote is based on the insured being a Whole Airport. Producer commission is 15.%. AIRPORT C VERGE LIMITS PREMIUM PREMISES Single Limit Bodily Injury $100,000,000 each occurrence $25,025 and Property Damage Liability General Aggregate Limit: Not Applicable PRODUCTS AN,-Q COMPLETED OPERATIONS Single Limit Bodily Injury $100,000,000 each occurrence $0 and Property Damage Liability $100,000,000 aggregate Gross Receipts (excluding fuel sale): 0 Fuel Gallons Sold/Dist: 0 Service/Material: HANGARKEEPERS LIABILITY -NOT IN FLIGHT $100,000,000 each aircraft $3,220 $100,000,000 each occurrence $2,500 deductible each aircraft PREMISES MEDICAL $3,000 each person Included FIRE LE AL $100,000 any one fire Included PERSONAL INJURY $50,000,000 aggregate Included TOTAL ANNUAL PREMIU M $28,245 War Liability - $2,825 TRIA (Without War Covgr,~ae) $36,719 Although the captioned Insured has rejected coverage for certain losses arising out of any Act of Terrorism (as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007) by the previously signed rejection form, we have provided a quotation for such coverage under your renewal policy(ies). Your policy(ies) will renew'As Expiring' unless we receive notification from you prior to inceptioi to purchase such coverage. 5 pecial Instructions: Issuing Company: National Union Fire Insurance Company of Pittsburgh, PA tngorsements, Notices, Caveats & A plicable Warnin s: UE2002A Millenium Writeback , CGL810 -Airport Expansion Endorsement , CGL205 -Excess Liabilities, Any Applicable State Endorsements and/or Notices, UE1013 Policy Holder Notice, UE1066 Terrorism Exclusion-Certified Acts, UE882 Asbestos Exclusion Endorsement, UE2000A Date Recognition Exclusion Clause AVN2000A, UE86 Mexico Endorsement-Warning, UE466 Noise and Pollution and Other Perils Exclusion Clause AVN46B, UE38B Nuclear Risks Exclustion Clause AVN38B (state specific for CA, MA, and MO insureds), UE48B War Hi-Jacking and Other Perils Exclusion Clause ANV486 (state specific for OR insureds) !Coverage is subject to the actual terms, conditions and exclusions in the standard policy form CGL02-NU. This quotation is valid for forty-five (45) days or until coverage effective date, whichever comes first. Premiums do not include any applicable state and/or municipal taxes. Binding of coverage is subject to satisfactory verification of the requested information. Thank you for this submission. Please call if there are any questions. We look forward to being asked to bind coverage. This quotation contains a broad outline of coverage and does not include all the terms, conditions and exclusions of the policy (or policies) that may be issued to you. The policy (or policies) contain the full and complete agreement with regard to coverage. Please review the policy (or policies) thoroughly upon receipt and notify us promptly in writing if you have any questions. In the event of any inconsistency between the 'quotation or binder and the policy, the policy language shall control unless the parties agree to an amendment. ,~ POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE You are hereby notified that under the Terrorism Risk Insurance Act, as amended, that you have a right to purchase insurance coverage for losses resulting from acts of terrorism, as defined in Section 102(1) of the Act: The term "act of terrorism" means any act that is certified by the Secretary of the Treasury-in concurrence with the Secretary of State, and the Attorney General of the United States-to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER, YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA, THE UNITED STATES GOVERNMENT GENERALLY REIMBURSES 85% OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS THAT MAY BE COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. YOU SHOULD ALSO KNOW THAT THE TERRORISM RISK INSURANCE ACT, AS AMENDED, CONTAINS A $100 BILLION CAP THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED $100 BILLION, YOUR COVERAGE MAY BE REDUCED. Acceptance or Rejection of Terrorism Insurance Coverage Type of Policy Additional Accept Reject Premium Aircraft Liability $ N/A Aircraft Physical Damage $ N/A Comprehensive General Liability $ 36,719 Manufacturing Products/Completed Operations/Grounding Liability $ N/A Other $ N/A Policyholder/Appli ant's Signature ~ ~~~_.~, ~~~~~X_.. Date Policyholder/Applicant's Printed Name EAGLE COUNTY AIRPORT, Renewal of Policy AP 3229274-16 Renewal of Policy Name Insured /Policy Number(s) UE1068 (3/08) © 2007 National Association of Insurance Gomissioners