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Home My WebLink AboutC11-173 AON Risk Solutions Renewal Proposal • Aon Risk Solutions Renewal Proposal for Policy Period June 1, 2011 to June 1, 2012 Presented to Eagle County Airport May 3, 2011 Cheryl Turner Broker Aon Aviation Practice Group Mid - Continent Airport 1995 Midfield Road Wichita, Kansas 67209 Direct Line: 316- 941 -1519 Proprietary and Confidential A 9(-(7-5 AoN I. Executive Summary 2 I I II. Details of Coverage / Policy Term / Premium 3 III. Detail of Payment Terms 4 IV. Aon Service Team 4 V. Services 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(ies) and is not intended to reflect all the terms and conditions or exclusions of such proposed policy(ies). Moreover, the information contained in this document reflects proposed coverage as of the effective date(s) of the proposed policy(ies) 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(ies). The insurance afforded by the listed proposed policy(ies) is subject to all the terms, exclusions and conditions of such policy(ies). The services and placements outlined in this proposal will be provided in accordance with the terms of the notices and policies set forth in ARS Disclosures and Commitments to Our Clients, (see also http: / /www.aon. com/ about -aon/ corporate - governance / guidelines - policies /ars- disclosures- commitments.jsp) Aon Risk Solutions l Aviation Practice Group 1 Proposal Date- 05/03/2011 2011 Eagle County Airport Renewal Proposal Edition Date Dec. 20, 2010 A0141 • We have received signals from the marketplace that premium increases are impending. However, Chartis has quoted as "as expiring" renewal. • As indicated in our Renewal Strategy Plan, we remarketed your coverage with six other markets. Even though we sent the submission to the carriers in mid - March, we did not receive responses back from two, Ace USA and Global Aerospace. Phoenix Aviation declined to quote. • We received an "indication only" from Starr Aviation as they apparently felt that would not be competitive and they were correct. Their indication was $35,000 to $37,000. • Quotations were received from W. Brown & Associates along with QBE Insurance Group (a newcomer) but they were considerably higher than Chartis. • Please refer to the Quote Disclosure Report for full disclosure of Aon's commissions. We hereby acknowledge receipt and review of the information presented in the Renewal Proposal ( "Proposal ") dated 05/03/2011 for Aviation Non -Owned Liability and provided in the attached Quote Disclosure Report dated 05/03/2011. 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 Dili ure ' eport I ' Date: 1 (1 =� A. On be . if Eagle County Airport Aon Risk Solutions 1 Aviation Practice Group 2 Proposal Date — 05/03/2011 2011 Eagle County Airport Renewal Proposal Edition Date: Dec. 20, 2010 AON 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) Aon Risk Solutions 1 Aviation Practice Group 3 Proposal Date — 05/03/2011 2011 Eagle County Airport Renewal Proposal Edition Date: Dec. 20, 2010 AoN • Payment due upon receipt of invoice • Cheryl Turner Broker Aon Risk Services Central, Inc. Aviation Practice Group 1995 Midfield Road Wichita, Kansas 67209 • Don't hesitate to contact Aon directly for assistance with the following: • Coverage questions • Billing questions • Certificates of Insurance • Aon Risk Solutions 1 Aviation Practice Group 4 Proposal Date — 05/03/2011 2011 Eagle County Airport Renewal Proposal Edition Date: Dec. 20, 2010 Aoiv • Quote Disclosure Report • Copies of carrier quotes Aon Risk Solutions l Aviation Practice Group 5 Proposal Date - 05/03/2011 2011 Eagle County Airport Renewal Proposal Edition Date: Dec. 20, 2010 Dallas Branch 600 N. Pearl Street, Suite 700 Dallas, TX 75201 Phone: (214) 758 -8400 CHART 1 S Fax: (214) 768-8884 FACSIMILE TRANSMISSION DATE: 5/3/2011 NUMBER OF PAGES INCLUDING COVER: 3 TO: Cheryl Turner FROM: Barbara Tomlinson COMPANY: AON RISK INSURANCE SERVICES WEST FAX NUMBER: Programmed SUBJECT: EAGLE COUNTY AIRPORT Expires: 06/01/10 Exp. Policy # AP 003229274 -17 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 COVERAGE LIMITS PREMIUM PREMISES Single Limit Bodily Injury $100,000,000 each occurrence $25,025 and Property Damage I iability General Aggregate Limit: Not Applicable PRODUCTS AND 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 LEGAL $100,000 any one fire Included PERSONAL INJURY $50,000,000 aggregate Included TOTAL ANNUAL PREMIUM $28,245 War Liability - • $2,825 TRIA (Without War Coverage) $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 inception to purchase such coverage. • Special Instructions: The total premium including war is as expiring at $31, 070. Issuing Company: National Union Fire Insurance Company of Pittsburgh, PA Endorsements, Notices, Caveats & Applicable Warnings: UE2002A Millenium Writeback , CGL810 - Airport Expansion Endorsement , CGL1059 - Excess Auto Legal Liability, CGL1060 - Excess Employer's Liability, CGL52G - Extended Coverage Endorsement (Aviation 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, UE46B Noise and Pollution and Other Perils Exclusion Clause AVN46B, UE48B War Hi- Jacking and Other Perils Exclusion Clause ANV48B (state specific for OR insureds), AVN38B - Nuclear Risks Exclusion Clause, 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. I I Other Endorsements 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 / ppli . nt's Sign: 't;0 Date flv 6.( I I Policyholder /Applicant's Printe Name EAGLE COUNTY AIRPORT, Renewal of Policy AP 003229274 -17 Renewal of Policy Name Insured / Policy Number(s) UE1068 (3/08) © 2007 National Association of Insurance Comissioners ice. 4 8 8 < 8 Q 8 .. 8 O 5 z o 0 o z o Z e « m - 7 s g 5 EL) a o 0 ,--;;..1:4 m a I; k g _ - .. 0.. .. ry 9 b F . .. y m E, a c 8 0 8 g ' b o 0 2. 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Z o 8 z o z ° g 'C '$ 5 0 0 2 fin' o o $ u W a ° a .d m ti g �C O O T 1 O f i v3 cA yi { [� T a 4, '5 ° Q .0 - ata v, g g i T T 8 0.,? N b $ L goo pA 8 pp p g s : T d . € m __ 8 q K . 8 ' Fg s3 8 ? 0 a a d g y U a 8TH _� b 4 P R -k s Z [i Z Z Z u: Z Z Z g c F a ° :E ' a «° , ° 5 E3 a P E ° 8 U k H r u k O g 5 ' > 1 A f, -8 Q '5 99 a"1 m m $ m m A 5 F m F g 5 o L g °° E o 1 o E ..,4 u p O p U p O Y ° -0149 y qq g A d S 5 a° 5 6 3 c 5 .. c ° o 5 o «W� y > m m 0 4 ?G a c o g 8 d g g 8 g� 8 0 S d' g 5 8 ° ° ' ° m 5 8 > E 5 E • ' d 5 w ' t,' _ .. '), t' cj . g E o ' T F4 as 8 �5 I p °i ° I w 3 o a 8 { 4 ' •8 g a c4 5 2vsi a o c 8 9 .5 5 i2 eo _ gg +F v ° .. 5 b w e g m ' � 55 3 .5 2 ° c a E o Q `.-�' U w 3 z c. O d '" a+ w b E � 3� 8 7 - '~ 2 F g 8 8b g b E o a S F� =; i C a a .a a a -4 -016 U g g d m Z O = d 0 0 0 0 0 0 8' F* 5 a , ° T a ' g Asa V. ' a K a ° ¢� a Q d1 o a° 5 `� o '� v , 3 g o U z _ gp , aw a g ti .° g ° cr � ° �yyap gE v d f s . F F k g O O O A i . 0 6 A .,>, g y y 8 t n a o W a ° 5 ¢ a 5 5 5 s 6 -. 05 8 .5 , � 3 a� ) \) ) < s } { 1 \ } #/ $/ \j g h — 6 ] i . § ) )( ! :! A 4 4 / \{ } g ]f k\] 1 \/) { ?� 'A' j\ ] \$ � E E ! a \ §% aA §k )/f � ) }{ . ; A0 \ ) \ a ° ) } II 0 / §ƒ W. BROWN & ASSOCIATES INSURANCE SERVICES DATE: April 13, 2011 Quote #: 1330412 TO: Aon Risk Services Central, Inc. ATTN: Cheryl Turner RE: Eagle County Airport Dear Cheryl: Thank you for allowing us the opportunity to offer you and your client this quote. We are committed to providing client service that is second to none in this industry. W. Brown & Associates has proven itself the most stable and consistent aviation insurance market since 1987 and we look forward to serving you for many years to come. Premium $75,000.00 (plus any taxes, fees, assessments or surcharges as required by state and local regulation) War (including TRIA) 5% surcharge to the above premium TRIA Only 2.5% surcharge to the above premium Limit/Rate Options: Additional Coverages: Incidental Medical Malpractice liability: 25,000,000 ea occ / agg Garagekeepers' Legal Liability: $100,000 any one car / $250,000occurrence / agg ($2500 ded) Excess Auto Liability; 25,000,000 excess 1,000,000 Excess Employers Liability: 25,000,000 excess 1,000,000 Location(s) of aviation premises owned, rented to or occupied by the Named Insured: Type(s) of Coverage General Aggregate Limit $100,000,000 Products - Completed Operations Aggregate Limit $100,000,000 Products - Completed Operations Occurrence Limit $100,000,000 Personal Injury & Advertising Injury Aggregate Limit $25,000,000 Personal Injury & Advertising Injury Occurrence Limit $25,000,000 Each Occurrence Limit $100,000,000 Fire Damage Limit (Any One Fire) $100,000 Medical Expense Limit (Any One Person) $3,000 Hangarkeepers' Each Loss Limit $100,000,000 Hangarkeepers' Each Aircraft Limit $100,000,000 Premises Property Damage Deductible - $2,500 each claim. Hangarkeepers Deductible - $2,500 each aircraft. Additional Coverage Fellow Employee Injury Included On- Premises Automobile Liability Included 30 Days Notice of Cancellation (10 Days for Non - Payment) Included This policy will be subject to all endorsements as required by state and local regulation. Commission: 15% Carrier: Catlin Insurance Company, Inc. (Rating: A 15) 19000 MacArthur Boulevard, Suite 700, Irvine, California 92612 TEL (949) 851 -2060 FAX (949) 851 -2155 LIC. #0731207 W. BROWN & ASSOCIATES PAGE 2 OF 2 Additional Comments: Additional coverage included within the occurrence limit: On premises Auto (Not owned or operated by the Named Insured), Mobile Equipment, Host Liquor Liability, $1000 Bail Bonds, Insured Contract (Contractual Liability), Work preformed by a Subcontractor (Independent Contractor Liability) Policy subject to the following exclusion endorsements: Date Change Recognition Endorsement, Asbestos Exclusion Endorsement, Terrorism and War Exclusion, Professional Health Care Services, Employment Related Practices, and any State Mandatory Endorsements. A sample policy form is available at www.wbais.com. After reviewing the foregoing quote, please feel free to call us to discuss it in detail. We would be happy to answer any questions that might arise. This document is not a Binder and it confers no coverage whatsoever. All terms and conditions are subject to change until we have received your Bind order and have agreed to formally put coverage in force. Thanks again for giving us an opportunity to serve you. Best Regards, Scott Brown SBrown @wbais.com