Report to Carson Reclamation Authority
Tuesday, September 03, 2024
Consent
SUBJECT:
Title
AUTHORIZE EXECUTIVE DIRECTOR TO APPROVE AND BIND A ONE-MONTH EXTENSION OF COVERAGE ON A COMMERCIAL GENERAL LIABILITY POLICY FROM UNITED SPECIALTY INSURANCE COMPANY (PRIMARY) AND ENDURANCE AMERICAN SPECIALTY INSURANCE COMPANY AND AMBRIDGE (LLOYD'S), EXCESS CARRIERS, PROCURED THROUGH MARSH RISK & INSURANCE SERVICES IN AN AGGREGATE LIMIT OF $10,000,000 ($1,000,000 PRIMARY/$4,000,000 PLUS $5,000,000 EXCESS) AT A PREMIUM NOT TO EXCEED $8,600.00 PLUS $273.48 IN SURPLUS LINES TAXES/FEES, PAID IN ADDITION TO THE PREMIUM, FOR THE ONE-MONTH PERIOD TO OCTOBER 12, 2024
Body
I. SUMMARY
This action authorizes the Executive Director to approve and bind a one-month extension of a commercial general liability policy with United Specialty Insurance Company (primary carrier) on a $1,000,000 per occurrence/$2,000,000 general aggregate; Endurance American Specialty Insurance for $4,000,000 in excess of the first $1,000,000; and Ambridge (Lloyds) for $5,000,000 in excess of the first $5,000,000, for a total of $10,000,000 in coverage. The premium is $8,600.00 for this one-month extension.
The extension would allow the general liability policy to renew at the same time as the property insurance policy, which term ends on October 12. It means the CRA would be in the renewal market for both policies at the same time, which is more efficient even though the carriers for the policies are different.
II. RECOMMENDATION
Recommendation
TAKE the following action:
AUTHORIZE the Executive Director to bind a one-month extension of coverage on behalf of the Carson Reclamation Authority on a Commercial General Liability Policy with United Specialty Insurance Company (primary carrier) on a $1,000,000 per occurrence/$2,000,000 general aggregate/$2,000,000 products-completed operations basis; Endurance American Specialty Insurance for $4,000,000 in excess of the first $1,000,000; and Ambridge...
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