RES 86310 - Laserfiche WebLink

COOPER McKENZIE MURPHY tJlgjW POST OFFICE BOX 1030 PLEASANTON. CA. 945156 PHONE: 415 - 8415-4423 June 19, 1986 City of Pleasanton P. O. Box 520 Pleasanton, CA 94566 Attn: Ken NaBmnon Dear Ken: Enclosed is our proposal for the insurance coverages thus far. The coverages that have not been quoted as yet will follow during the week. However, they are all bound effective 7/1/86. Also, we do not feel that these items will have the heavy impact as the items quoted on the enclosed spread sheet. It is gratifying that the renewal premiums are not increased as heavily as we thought they might be. The Liability premium is roughly the same; however, the limits are quite a bit less. Property premiums have increased; however, the values have increased substantially. All in all, from a premium standpoint, the renewal appears to be appropriate. There are certain changes in the Liability policy that should be discussed. They are as follows: 1. The General Liability and Errors & Omissions coverages will be renewed on a "Claims Made" basis. This will establish a 7/1/86 retroactive date prior to which no claim under this policy will be honored for occurrences prior to the retroactive date. In other words, all losses will be paid under prior contracts. This is not a serious restriction of coverage. It only makes it necessary that we watch any future renewals to make sure that the original retroactive date is honored. 2. The $800,000 limit under the basic policy is an aggregate limit. In other words, only $800,000 of claims will be paid under the basic policy during the year. However, it is subject to one automatic reinstatement of the aggregate limit. If we do have claims activity, we can apply for the reinstatement and restore the limit. 3. Automobile Liability will be written on an Occurrence basis, which is the prior type of liability insurance. The Automobile Liability will be written with its own self-insured retention.