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HomeMy WebLinkAboutC12-186 Aon Risk Solution Renewal Proposal Aon Risk Solutions Renewal Proposal for Policy Period June 1, 2012 to June 1, 2013 Presented to Eagle County Airport May 7, 2012 Cheryl Turner Aviation Broker Aon Aviation Practice Group 245 N. Waco, Suite 420 Wichita, Kansas 67202 Direct Line: 316- 941 -1519 Proprietary and Confidential AON 't ggglogge. ,g.glwgitgg„ J. Executive Summary 2 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 1 Aviation Practice Group 1 Proposal Date — 05/07/2012 2012 Eagle County Airport Renewal Proposal Edition Date, Dec. 20, 2010 A0N Ex cut ve Surnman- • After a complete remarketing effort last year with no carriers coming close to Chartis Aerospace, we just negotiated with Chartis alone this year. • As a result, Chartis has offered over a 13% reduction in premium with coverage's and limits remaining the same as expiring. • You currently carry War Liability at a $50,000,000 limit, however Chartis has offered an additional $50,000,000 for $613 additional to bring your War Liability coverage to the $100,000,000 policy limit. • TRIA (Terrorism Coverage) is a little more difficult to understand. If you elect to purchase the excess $50,000,000 War Liability limit, you have the option to purchase TRIA coverage at the $100,000,000 limit for an additional $1,470. However, should you decide to stay with the $50,000,000 War Liability limit, the additional cost of TRIA coverage @ $50,000,000 would be $28,916. • Please indicate below if you are interested in purchasing the Excess War coverage or-the TRIA coverage along with Excess War. Let me know if you have any questions in regards to this proposal. • Please refer to the Quote Disclosure Report for full disclosure of Aon's commissions. Insured nowledgm nt and ru0; on to Bind We hereby acknowledge receipt and review of the information presented in the Renewal Proposal ( "Proposal ") dated 05/07/2012 for Aviation Non -Owned Liability and provided in the attached Quote Disclosure Report dated 05/07/2012. 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 eport Date: 6 (2-71 h On behalf of Eagle County Airport Excess War Coverage for $50M excess $50M $613 additional Yes No V TRIA Coverage with Purchase of Excess War @ $1,470 additional Yes No Aon Risk Solutions 1 Aviation Practice Group 2 Proposal Date — 05/10/2012 2012 Eagle County Airport Renewal Proposal Edition Date: Dec. 20, 2010 of 1,.*,(raraaraae Preari3t:al 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 $100,000,000 each aircraft/each occurrence Hangarkeepers Deductible $2,500 Excess Liability @ $50,000,000 above $1,000,000 For both Auto and Employers Liability Included Annual Premium: $26,956 Market Security: Chats 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) OPTIONAL COVERAGES: Excess War Liability $50,000,000 excess of $50,000,000 $613 Additional TRIA Coverage limit of $100,000,000 with purchase of excess war $1,470 Additional TRIA Coverage @ $50,000,000 with War Liability @ $50,000,000 $28,916 Additional Aon Risk Solutions 1 Aviation Practice Group 3 Proposal Date — 05/07/2012 2012 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 245 N. Waco, Suite 420 Wichita, Kansas 67202 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 — 05/07/2012 2012 Eagle County Airport Renewal Proposal Edition Date: Dec. 20. 2010 AoN d,,r)pdxddix • Quote Disclosure Report • Copy of carrier quote Aon Risk Solutions 1 Aviation Practice Group 5 Proposal Date — 05/07/2012 2012 Eagle County Airport Renewal Proposal Edition Date Dec 20, 2010 y _ 2. E o a w w °° - E E L = - e u a i2 2 g E2 - _ 5 E 5 e E 2 ,0 3 v 5 3 Z : - �E _ A - w d, E _ - - - C E E _ 42 V ¢ ¢ E 5 C o ¢ o - E r 2.4= E o v z z o sati 7 5° E t a y 5 a , ° ° _ z ° s E v s v .0. 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Pearl Street, Suite 700 Dallas, TX 75201 Phone: (214) 758 -8400 CHARTIS Fax: (214) 758-8884 FACSIMILE TRANSMISSION DATE: 5/1/2012 NUMBER OF PAGES INCLUDING COVER: 3 TO: Cheryl Turner FROM: Barbara Tomlinson COMPANY: • AON RISK SERVICES CENTRAL, INC FAX NUMBER: Programmed SUBJECT: EAGLE COUNTY AIRPORT 500 Broadway Eagle CO, 81631 Expires: 06/01/12 Exp. Policy # AP 003229274 -18 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 $24,505 and Property Damage Liability General Aggregate Limit: Not Applicable PRODUCTS AND COMPLETED OPERATIONS Single Limit Bodily Injury $100,000,000 each occurrence Included 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 Included $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 $24,505 War Liability - $2,451 TRIA (Without War Coverage) $28,916 Although the captioned Insured may have 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), we have provided a quotation for such coverage under your renewal policy(ies). If we have a previous rejection of TRIA on file received through your agency your policy(ies) will renew 'As Expiring' unless we receive notification from you prior to inception that such coverage is now desired. Special Instructions: The total premium including war is as expiring at $26,956. Issuing Company: National Union Fire Insurance Company of Pittsburgh, PA Endorsements, Notices, Caveats & Applicable Warnings: CGL2002A 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), UE38B - Nuclear Risks Exclusion Clause AVN38B, 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. Other Endorsements California Notice: The policy referenced within this quote /renewal letter contains a provision that allows the Company to refund a premium other than on a pro rata basis. Any such refunds shall be computed at ninety percent (90 %) of pro rata. 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 $ 28,916 Manufacturing Products /Completed Operations /Grounding Liability $ N/A Other $ N/A Policyholder /Applicant's Signature RAUI — V iq 0 (J Date 1 Policyholder /Applicant's Pinted Name EAGLE COUNTY AIRPORT, Renewal of Policy AP 003229274 -18 Renewal of Policy Name Insured / Policy Number(s) UE1068 (3/08) © 2007 National Association of Insurance Comissioners