R2017-092 2017-05-22 RESOLUTION NO. R2017-92
A Resolution of the City Council of the City of Pearland, Texas, approving
Windstorm Insurance through AmRisc Carriers and Lloyds of London in
the amount of $531,877.00 for the period of May 26, 2017 to May 26, 2018
with a rate guarantee for the period May 2018-2019.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,TEXAS:
Section 1. Pursuant to Chapter 252 of the Local Government Code the City obtained
Windstorm Insurance pricing to cover City facilities.
Section 2. That, pursuant to Section 252.022 of the Texas Local Government Code,
the purchase of Windstorm Insurance is necessary to protect and preserve the public safety of
the City's residents.
Section 3. That the City Council hereby awards a two-year guaranteed contract for
Windstorm Insurance to AmRisc Carriers in the amount of $531,877.00.
Section 4. The City Manager or his designee is hereby authorized to execute a
contract for the purchase of Windstorm Insurance.
PASSED, APPROVED and ADOPTED this the 22nd day of May, A.D., 2017.
1011111.11■ 2,
TOM REID
MAYOR
ATTEST:
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SE 'ETARY %, '....... ...••. `
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APPROVED AS TO FORM:
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DARRIN M. COKER
CITY ATTORNEY
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Victor 0. Schinnerer&Company, Inc.
Windstorm& Hail Proposal
PROPOSAL ACCEPTANCE FORM
This form must be signed and returned to Victor 0. Schinnerer&Company,Inc. no later than May 22nd.
Please Return To:
Victor 0. Schinnerer&Company, Inc.
3100 Wilcrest Drive, Ste 200
Houston,TX 77042
Phone: (800)284-4747
Email to Heena.A.Patel @Schinnerer.com
PREMIUM PAYMENT
(Payment will be sent to Victor O. Schinnerer&Co.,Inc.)
Windstorm & Hail Coverages Accepted
Selection Option# Total Limit Premium
❑ 1 $202,059,997 $ 563,697
❑ 2 $ 202,059,997 $ 531,877
By accepting this proposal,you acknowledge and understand a minimum policy premiums may apply, you
have met all eligibility requirements regarding flood coverage at certain locations and you have reviewed the
windstorm location's schedule and are in agreement with the locations and limits used in this proposal.
I,the undersigned,as an authorized representative of:
City of Pearland
do hereby accept on behalf of the above named political
subdivision the portions of the proposal as indicated above.
Signature of Authorized
Official:
Title: City Manager
Date:
TMLIRP OFFICE USE ONLY
Contribution: Verified by: Contract#:
❑ New Member ❑Member Re-awarding ❑ Member Adding Coverage
May 1 1,2017
AmRISC Property Application and Statement of Values c1IZSC5
Unless notified otherwise,completion of this form replaces the application,statement of values,hard copy loss runs and formally executed loss letters This form contains the
information submitted to date. The form must be completed,signed and returned for underwriter's review and acceptance within 30 days of Inception. Any inaccurate
information identified on the returned form Is automatically deemed noted and agreed by underwriters upon receipt,so please return as soon as possible.
Named insured: City o'Poa'lanc Account ID: 475997
Mailing Address: 3519 Liberty Drive Pearland TX /581
Nature of business: Muni
U ` H L
E" f0m (D c_ m 2
Loc No. Address City State Zip co¢r e a'rn O y z a .=rn
1 Per Schedule on file
2 with AmRisc
3
4
5
6
Totals: 505,225 341/. - 424
it you have any quest Cud regardug M type or cenurre,ia duusa was your agent plat Ie sgetg Ins apW-ason
Valuation: RCV RCV ALS ALS ALS
Coins: N/A N/A 1/3 Monthly 1/3 Monthly 1/3 Monthly _
Loc No. Building BPP BI Rents EE Loc TIV
1 Per Schedule on fie
2 with AmRisc
3
4
5
6
Totals: 6161,150,297 $39659.700 51,250.000 SO 5202,059,997
These values oboe bins the Wan of the peleys fund of hebaxy Moan review rareluty - -List ALL losses caused by requested perils for the prior 5 years that did or may exceed the specified threshold Please add Threshold: $5,000
any losses if not listed. Incomplete loss hislorry is considered material and may void coverage.
DOL Description/COL Incurred Status(0/C) DOL Description/COL Incurred Status(0/C)
05/26113 Wind 524,132 C •
0
His any patsy or coverage been Mane.Canceler/or non-renewed&rug the Has any apps cant been corrected d arson Yf Me pawl 10 years?
war 3 years(mi apprnbie b►101 NO NO
is ere applicant a S Oraplr Corporation,part ereNp or cry other typo of sole Any bankruptcies at las unfit liens against appi cant in prior 5 yoara?
pmw:ec'organ pion? NO NO
Dona the applicant have any reason Chat they would not be aware of al losses Jul Has net income been negative for 2 ul the pest 3 years?n so.please attach
me plot 5 years? NO financials or In returns for 3 years NO
Fn'apartments,ani(hare ary HUD managed or Section 8 devaiopnentsa NO If habitational.is there any aluminum dhtlneu'7on wai ''
n° NO
Explain any Yes answers. If necessary,add additional pages,which are hereby made part of the application.
Warranties:
NONE
Lin any Dlsuapandes Discrepancies received by underwriters prior to•lees shall be deemed rented and agreed by unda w dens Mimosa,additional
premium may be cheeped as 01 11111 dele the inbrnralgn 4 received by lxdawritem
Any person who knowingly and with intent to injure,defraud,or deceive any insurer files a statement of claim or an application containing any false,incomplete,or
misleading Information is guilty of a felony of the third degree Severe cancellation penalties apply to CAT exposed property-Form is available upon request.
Carriers'participation may change prior to binding or throughout the coverage period
To the best knowledge of the applicant and the producer,the above Information Is true and complete. Initial each Section.
Applicant Printed Name Title Producer Printed Name
Applicant Signature Dale Producer Signature Data
Initial Each Section Above AR APP 11 09
Confidential Page 1 of 1
DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE
INSURED: City of Pearland Account ID: 475997
LIMITS: As oar the attached Authorization or Indication
You are hereby notified that under the Terrorism Risk Insurance Act of 2002,as amended("TRIA"),that you
now have a right to purchase insurance coverage for losses arising out of acts of terrorism,as defined in
Section 102(1)of the Act,as amended: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 an air carrier or vessel 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.
Any coverage you purchase for'acts of terrorism'shall expire at 12:00 midnight December 31,2020,the
date on which the TRIA Program is scheduled to terminate unless the TRIA Program is reauthorized or the
expiry date of the policy whichever occurs first,and shall not cover any losses or events which arise after the
earlier of these dates.
YOU SHOULD KNOW THAT COVERAGE PROVIDED BY THIS POLICY FOR LOSSES CAUSED BY
CERTIFIED ACTS OF TERRORISM IS PARTIALLY REIMBURSED BY THE UNITED STATES 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 THIS FORMULA,THE UNITED STATES PAYS 85%THROUGH 2015;84%BEGINNING
ON JANUARY 1,2016;83%BEGINNING ON JANUARY 1,2017;82% BEGINNING ON JANUARY 1,2018;
81%BEGINNING ON JANUARY 1,2019 AND 80%BEGINNING ON JANUARY 1,2020;OF COVERED
TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE
INSURER(S)PROVIDING THE COVERAGE.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.
THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE
ANY CHARGES FOR THE PORTION OF LOSS COVERED BY THE FEDERAL GOVERNMENT UNDER
THE ACT.
I hereby elect to purchase coverage for acts of terrorism for a prospective
premium of $24753
I hereby elect to have coverage for acts of terrorism excluded from my policy.
understand that I will have no coverage for losses arising from acts of terrorism.
This notice applies to the following carriers and their
Policyholder/Applicant's Signature respective participation quoted herein:
Certain Underwriters at Lloyds
Indian Harbor Insurance Company
Clay Pearson QBE Specialty Insurance Co.
Print Name
General Security Indemnity Company of Arizona
United Specialty Insurance Company
Date Princeton Excess and Surplus Lines Insurance Co
International Insurance Company of Hannover
AmRisc, LLC Flood Notice AR FN 04 11
If the policy issued by AmRisc, LLC excludes Flood, the following shall apply:
Flood Exclusion Acknowledgement
I understand the policy issued by AmRisc, LLC does NOT provide coverage for loss or
damage caused by or resulting from Flood, including any flooding and/or storm surge
associated with windstorm events.
I understand that Flood insurance can be purchased elsewhere from a private flood insurer
or the National Flood Insurance Program.
It is strongly recommended that Insureds in "Special Flood Hazard Areas" or areas subject
to Flooding, including flooding and/or storm surge from windstorm events, obtain Flood
coverage.
I also understand that execution of this form does NOT relieve me of any obligation that I
may have to my mortgagees or lenders to purchase Flood insurance.
If the policy issued by AmRisc, LLC includes Flood, the following shall apply:
Flood Coverage
I understand the policy issued by AmRisc, LLC does provide coverage for loss or damage
caused by or resulting from Flood, including any flooding and/or storm surge associated
with windstorm events.
I understand that loss or damage caused by or resulting from Flood, including any flooding
and/or storm surge associated with windstorm events, will be subject to the Flood sublimit
stated elsewhere in the policy
I understand that if I do not sign this form that my application for coverage may be denied or
that my policy issued by AmRisc, LLC may be cancelled or non-renewed. I have read and I
understand the information above.
Named Insured: City of Pearland
Account No.: 475997
Policyholder/Applicant's Signature
Clay Pearson
Print Name
Date