HomeMy WebLinkAboutR2021-107 2021-05-24RESOLUTION NO. R2021-107
A Resolution of the City Council of the City of Pearland, Texas, approving
Windstorm and Wind Driven Rain Insurance through AmRisc Carriers, in
the amount of $755,010.00, for the period of May 26, 2021 to May 25, 2022.
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 contract, for Windstorm and Wind
Driven Rain Insurance, to AmRisc Carriers inthe amount of $755,010.00.
Section 4. The City Manager or his designee is hereby authorized to execute a
contract for the purchase of Windstorm Insurance and Wind Driven Rain Insurance.
PASSED, APPROVED and ADOPTED this the 24th day of May, A.D., 2021.
ATT
OAN, TRMC, CMC
CITY SECRETARY
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
J>.= IN COLE
MAYOR
(SC
m 'mac%'
S: hos
Windstorm & Hail Insurance Renewal
EXPIRING
RENEWAL
Term: I
05-26-7-0 to 05 26 21
05-26-2.1 to 05--76.72
Total Insured Values at Inception:
$199,809,997
$7.07,309,997
Perils: _
- Wind & Hail
Wind & Hail
Coverage excludes "flood" including but not limited to 4cociing during windstorm
events. TM!. Property Insurance includes "flood.' coverage.
1
Per Occurrence Limit:
$199,809,997 1 $207,309,997
Per Schedule Per Building, NOT Blanket
I -
Sub -Limits:
Sub -limits are pa't of and not in addition to the Policy Limit of Liao"i:y
Additional Traffic Signs, Light Poles,
Signs, Fencing & Antennas
Values must be Scheduled
Values must be Scheduled
Business Income
$1,000,000 As Scheduled
$1,000,000 As Scheduled
Extra i-xpensc
$1,0.00,000 As Scheduled
$1.,000,000 As Scheduled
Fine Arts
$250,000
$250,000
Plants, l.awns, Frees or Shrubs
$500,000 ($25k Any One Item)
$250,000 ($25k Any Ono Item)
i Miscellaneous Unnamed Locations
$500,000 As Scheduled
$250,000 As Scheduled
Valuable Papers & Records
$1,000,000
$1,000,000
Wind Driven Precipitation
$500,000 Annual Aggregate
$500,000 Annual Aggregate
lime Element Monthly Limitation
1/12th
1/17th
- -
-- - -
Per Occurrence Deductibles:
-
- -
Wind/i-bail
$25,000
$25,000
Named Storm including Wind Driven
Precipitation
---
3% of Total Insured values at time
of loss at each location involved
in the loss or damage, subject to a
$25,000 Minimum any one
occurrence
_
3% of Total Insured values at time
of loss at each location involved
in the loss or damage., subject to a
$25,000 Minimum any ono
.occurrence
Percent Deductibles are Per Occurrence, Per Building or Structure
Valuation / Coinsurance:
Replacement Cost / NIL
Replacement Cost/ NIL
Total Annual Premium @ Current TIV:
Includes SCP Fire Station
$644,939
$755,010
Any exposure underground will riot be covered for wind/hail damage even if reported on exposure schedule. Exposures
should be reviewed thoroughly throughout the year for any changes, additions or deletions.
The above summary is meant for illustratrue purposes only and does not replace, amend or modify the actual inSurcnce olicies.