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Home My WebLink AboutPROPOSAL OF INSURANCE AND RISK MANAGEMENT . �.�L� a a o� � PROPOSAL OF INSUR:��NCE ��ND RISK AGEMENT Prepared for: Augusta, Georgia Augusta Regional Airport Authority Solid Waste Management Authority Policy Period: 4/19/12 to 4/19/13 Prepared by: Phil Harison, Jr. Vice President _j. S��nit1�� Lanier +� Co. lr��r�ri�t� !'Pnple rz�r,r� li�rsi�rrss ,'iiin lBcSts' PREMIUM SUMMARY INSURANCE CARRIER Best Rating Premium Landmark American Insurance Co. r� XII $64,948 Darwin Insurance Company A XV $71,443 ACE Insurance Co. r�+ XI $96,389 Allied World Assurance Co. A XV $112,300 Terms and Conditions: Public Officials Liability Limit: $2,000,000 (r�nnual rlggregate, defense costs are in addition to the limit) Retention: $250,000 Each Claim Public Officials $250,000 Each Claun Employment Pracrices Liability Priox and Pending Litigation Backdated to: 04/19/97 for Augusta, Gr1 04/19/03 Augusta Regional �lixport Authoriry 08/01 /04 Solid Waste Management rluthoriry Landmark 1lmerican - 2011 yeax expiring pxemium was $64,948. Daiwin Insurance Co. — Completed and signed original Darwin application and copy of employee handbook. 2011 audited fmancials also needed. r�llied Woxld rlssuxance Co — Completed and signed original r1Wr�C applicarion and copy of employee handbook. 2011 audited financials also needed. �CE Insurance Co. — Completed and signed original Public Officials application completed and signed clauns supplemental form and copy of employee handbook. 2011 audited financials. A.M. BEST RATING SCALE GUIDE Tt3 BE�T'S F1�1ANC1A1. S?REM+R�N RATINGS d 8est a f�encial $trnqlh Rati�o e an xxlep�ndent ov�a� d e� nw�'a tinanad �tr�noU� �d ebdit�r to mset � c+rowno imu�v�ee voWey erd ca�troct obfpmGon�. The ratinp i� Eosed on a sanpreF�enaiv� t�anOtat�i�os ond wefitetivr erohmtio^ of a oomP�+Y'� �nee �!»et �treegih_ apar- dlhg per(arrr�et�cc rrw� 6�rir�e�a prolfk. �� Ratinp 0.sc�ta Dafiritia� A+.. A+ Superior Arwqrod b aompw►ie� tlut Mvt. in nur op�+ion. � wperbr m6ilhy te meei IAeF a�4�p Y�wurcr � a a• �a.ns,K n.sprsa to compor,iss that nsye, m«n opirron .,, «oeiroc �hility 1v ma�et »is. ongoiK, a�euren�. � 8�+. B« Gaad . . A�pned io cvnpt� Uvf havn i+ nn opincs� � yood �y io rnaei hair onponp irw�iae ablqo�ara R. P• FeR AwsrQrnd ai r.m►�oni� �F hmne. � ean q��nion. � ie'r eb�ity In rn�wt fheir onpernp inNnmoe oblqp• tione. firnrwisi rv�xytfi ie wk�waW� w sdwros aMrp�a n v�deroiilirp encl �oonoanic eonditioro. G,. , G Mmq4n1 Nrpned eo eampenis� th� heue, in ar apinion� a marphd �' to meet thei ar�pair� frnve�a ab�pn- lions. Frandd rba�DN� is vulnan6le lo �drase c�rwe� in �1ino +►�d eoo�wrtNC oondAia�s, ,� C� G Weak Meipned to �onpa��ies tMt h�ua, in ou► oQinion, a rwek abi� to mee�t lher or�po'�q ttwsenoe obigr � 6orw. Fisoncid �npC� is wary wlnvabla t� ad�s aher� n urrlams2np and soaamic oancitiona. D Paer Ar�ipned b e�k� tlW i�we, in aer opi�itnn, a pow abiMy �o rnaat Ihek orpoY�p iwwanoe oblga- tivw. Firw�cial �t+aplh i ec4emdy +�bk t� adueno drvper in udervwilirip rru! eeonarsc onn- 3 �� E lAnder Aaip�ed 10 oompanies (and povabiy the'a wrbmidiriea'o�feiute+) pqoed undor a apnifwbnt taem d c3eo�i.eary eeguWiory, r,pe.,iisfo�,. ecara ar roshrirtt - irxlyding eee�e.nd du.�at onden.. aa+�ennuaeY►� w.�ha- Supervi�ion b�itstion. but nel Rvwdulion - dani qe+roM� oonduet d nom+.1� enDanp inxnorwe oDer�ion.. F In Li��tien A�ei�►sd �Eo ea►wa+i» docad a� lia+idedion bY a cart d lew a under o vbAe+d*r �arem�nt. Nob: Car+�onier voA�Mrily Nquidoted/eie�aAred q�qyr are nol irrd�enL 9 Su�pe,ded A.q,ad ta reend eorr�niier n+ha� wdJ�m �rd �ipmfic�u,t ew.,nb wl1a411heir kwlarwr il+ed s�renplh o �op«v�np pakrmnnce rrJ ratnq imptiantiono cvrwt be svalwtsd �Le to s laok ol t�nety a adequstr � �� Ae�ipned lo a� i�le►�cbve Fi�enc�l5trenptli p�tnp (Ara to 0) to erdrate iis potsidiul dMeciion ova m�w�rbd�le tam, pene►�ly defined �s 12 W 96 morth. �siure Ind�cates k�t` de due to irv�obk 6noncisVmarMst tra�de nletive �01Me cu'rsrn re�n tewrol �1iV! Y1d�Ci� ¢OYIb�B fltlY1[! tl011FPglld! f�lb M 1111�'JVOM�14! RMRGjf��MOAfiI E'tl7di 1l�11�VElO 1�'1! NIflf11 H111RM0 �!Nl�. 51abk krl�catcn ba• INoetl�aod ot � rqnto ch�nqr dur ta �table lin� tronde. iRAtlnq #AOdHlst�: �Irrli� G�e�mpfe� De('�nition u W�sier R�vinw 1tr1'raalu� Nve r� nwy ehvqe n the rr+w Mxm IYpird�r wilhm �ix tnmNiw C�rrr+mNy w eas�1 driMSn. wi/� pnw- 8iv�, rnp�tive p d�r�topinp eipFaatiorw�. pd Pu6ie �s�a IndionlM r�Eng ��gnea eo ie�w�ar d�ot aho�e rn� to par�cipaie i� AM. Beaty irrtaroctiw ratnp piaea�_ r Synd'oota YiaGaalss rr�g euip�d M e Lloydr �yudieein A�D� QOd�i Indoate� +sting b b�ed on atype d aFf�imbn vrilh oM�x inwisra. 9 Caio�+P P Padsd r Adreured 1�1fln Rf�id .�"t��M! : Asrlprbd b comp�nie� �ateel on AM_ Be�1, Mt ro1 asq�ed n Beat's Re►n0. _._ _. _._.. ___---- --- --._ _.. _. NR-1: k�ulfici�nf D-0te. NR-� N�Ificienl S�e �nd/ar ODe�ti'q 6�e.ie�ce. NR-3: PMinq Pr�csdure lnoppficobb. -a; Y tst -G: crtna o R�tinp WscloMtn The Firnc{sl 5pe�tli Retinp opirwan o�se ths rslo�i+re abiify of an neu�er Lo rneet ib aqairo i�suianae obSpatians_ Tfim rnti�ge ae not a�rynadta rba+hMlic � pol�cbs yr carr*a�tr w�d do e�! sddr�s �arryottxer n+k, wa�q. but na wnH� ta� �+ ir.rurv'* c�e+r+�.�wymera p�lr acs a D�+d+►e4' Mic obi�r d khe newor tn d�epule a�n cla�ms p�oyrnem on vau�dF o� rr�tau�n a taud, a s�y svectK iirbility car y ai lroc4slf bonx by the Pa�Y w corlmct i+older, A ii+encml SVSpM� Fiatnp is r�ot a �sonnmwti�ition to ps�hsse, haAi a 1emi�e enY iirvanoa �obeY• m�reet a any aaMe►financisl oEipatinw i�sus� by on Inwr�r nor dees rt addnere 1he eutobility af enY A� D�Y a eentraet fa ��- alis P�voeo or Pu�hasa+, 1n ar�vinp �1 s �o�ir►g decwia► AM. �cr relie. on Mrd paAy oudilsd Inanv�l dob+ w�d'�or od� a�ormobon wo�+ided � t. W►r'le this;nformosion r bsGevad to be nGnhl�. A M. Bn! daeo na independro,dy tiesitf tl,e aowecy a�ry oi Mie iRionneboo. �a.db�e�o.rl �aih, ses AM. £lnYe 7evro af Uss rl �+�►w rmbeee own. F"roncW St�v+gth aia�inaa��d�eorbiaa! vio pre+� rekax md�at O+e AM 6est'Web �t� ot r�w►kanY�coom �! me pubfel►sd in t`e A�eiy �ieaa» return d BiestHY.Ir�, F' .`�'a�pM FbM�a +wr �o1�1�Y ad may e►n�t ba roproducsd wilho►r! pvw.s�n Copyr+oh� C+ � b� AM. Bma Conqany. hc Vrrsaa OTa211B ti,�.aa , U,red with Permi.rsion ofA.M. Be.rt Company, Inc. DISCLAIMER Propo.ral J. Smith Lanier & Co. thanks you for the opportunity to discuss your insurance and risk management program. This summary is a brief overview of that program and is based on the exposure information you provided. Please refer to the policies fox complete terms, conditions, limitations, definitions, and exclusions. We have evaluated your exposures to loss and developed this proposal based upon the informarion that you have provided to us. If you are aware of other areas of potential exposure that need to be evaluated or of additional information of which we should be aware prior to binding of coverage, please bring the other areas or additional information to our attention as soon as possible. Should any of your e�osures change after coverage is bound, please notify us immediately. Client Contract.r In the event that you enter into a contract that has specific insurance requitements, J. Smith Lanier & Co. will review your contract, but only in regards to the insurance requirements of the contract. The scope of our review will be to determine if the current insurance program which you have placed through our agency addresses the types and amounts of insurance coverage referenced by the contract. We will identify the significant insurance obligations and will provide a summary of the changes required in your current insurance program to meet the requirements of the contract. Upon your authorization, we will make the necessary changes in your insurance program. We will also be available to discuss any insurance requirements of the contract with your attorney, if desired. In perfonning a contract review, J. Smith Lanier & Co. is not providing legal advice or a legal opinion concerning any portion of the contract. In addition, J. Smith Lanier & Co. is not undertaking to identify all potential liabilities that may arise under any such contracts. A contract review is provided solely for your information and should not be relied upon by third parties. Any descriptions of the insurance coverages are subject to the terms, conditions, exclusions, and other provisions of the contract and of the insurance policies and applicable regulations, rating rules or plans. Compen.ration Di.rclo.rure (Including Nesv York Kegulation 194 Di.rclo.rure) J. Smith Lanier & Co. is an insurance producer domiciled in the State of Geoxgia and licensed to sell insurance in additional states (including New York). Our licensed insurance producers ate authorized by law to confer with you regarding the benefits, terms and conditions of insurance contracts; to offer advice concerning the substantive benefits of particular insurance contracts; to sell insurance; and to obtain insurance fox purchasers. Our role in any particular insurance transaction typically involves one or more of these activities. Except in cases where J. Smith Lanier & Co. has a specific fee agreement to receive compensation from a client, we customarily receive compensation from insurers for our professional services in the form of a commission, which normally consists of a percentage of the premium collected by the insurers. AUTHORIZATION TO BIND Named Insured: Augusta, Georgia; Augusta Regional Airp Choose the appropriate option: � I hexeby authorize J. Smith Laniex & Co. to bind my coverage per the terms and conditions outlined in this Proposal. �..� �t ��,-- � f�..�%~�-- �/� Authori�ed Signature Date � , �"" 8 �3��' � ❑ I hereby authorize J. Smith Laniex & Co to bind my coverage with changes as stated below. I understand these changes may result in possible addirional undervvriring requizements ox moxe/less pxemium. Autbori�ed Signature Date