HomeMy WebLinkAboutItem 15 - Railroad InsuranceMEMOTO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: OCTOBER 15, 2019
SUBJECT: APPROVAL TO RENEW AN ANNUAL CONTRACT FOR RAILROAD
LIABILITY AND PHYSICAL DAMAGE INSURANCE
RECOMMENDATION: City Council to consider the renewal of annual contracts for railroad
liability and physical damage insurance coverage with Westchester
Insurance Company and RLI Insurance Company.
FUNDING SOURCE: Funds are available in the CVB budget (various accounts) in the estimated
annual amount of $156,000.
BACKGROUND: The City of Grapevine is fully -insured for railroad liability and physical
damage insurance.
The City's consultant Hub International Insurance Services (HUB) secured
competitive pricing for the renewal of these policies.
Westchester Insurance will provide a coverage limit for liability of
$25,000,000 which is the City's required coverage per DART contract. RLI
will provide $2,000,000 in physical damage insurance coverage for the
train cars.
City staff reviewed the proposals provided by HUB International and
determined that Westchester and RLI would provide the best policies,
pricing and service for meeting the needs of the City.
These are one-year contracts.
Staff recommends approval.
MH/GJ
Railroad Protective Liability
Carrier: Westchester Fire Insurance Company
A.M. Best Rating: ++ XV
Policy Terra: 10/1/2019 to 10/1!2020
Coverage Description- Excursion railroad Liability —occurrence
Limits
Each Occurrence
$2, 000, 000
General Aggregate
$50,000,000
Products/Completed Operations Aggregate
$50,000,000
Personal Injurer Advertising Injurer
$257000,000
Medical Payments
$5,000
Damage t0 Premises Rented by You
$100,000
Liquor Liability -Each Occurrence
$0,000,000
Liquor Liability --Aggregate
$6,000,000
$15,000 Per Occurrence
Deductibles
$25,000 Per Occurrence Liquor Liability
Estimated Exposure: Based On $2,1002000 of projected ticket revenues
Rate: Flat Per $100 Of ticket revenue
ADDITIONAL TERMS AND CONDITIONS
Fona�s s
GLEC, 194 (09f13)
GLE0241 (05115)
LE00 (01.,"99)
LE , (1011-4)
LEG2 (09115)
ALL -21101 (11106)
1L P G01 (01104)
Hue
Ace Tracks Excursion R ilro d Li ability Insurance P l icy
Addifi real in. ur d Railroad Operations Endorsement -
Scheduled Additlonal Insureds
Named hi ured - Amended
Grapevine Vintage Pail:ro d
city of Grapevine
Cl-ty of Grapevine Convention & VisAors Bureau
Liquor Liah i I ity Covera ge Form -
1 a 1000 Per Occurrence
$25,000 Per Occurrence Liquor Liability
undse Endorsement -
Covers occurTences that first tock pLce ager 111301200 -1 and
befo re 11130201 the sun ris period)
Trade Or Econon. iic Sancti cn s Endorsement
TreasuRe Dep artment*sf ce. Of Foreign Assets. Cont - l
("OFACr, ) Advisofy Mortice To Policyholdersj
Page 15 of 32
Railroad Physoca� Dannage
Carrier: ILLI Insurance Company
A.M. Best Rating, A+ RC1
Policy Terra: 10/1/2019 to 101112020
RAILROAD AD ROLLING STOCK AND MOBILE EQUIPMENT
T
Coverage Description Limit
All Covered Property $1,935,900
All Covered Property in any one Occurrence $12935,900
Business Income Extra Expense 1501000
Deductibles:
Per Locomotive $25,000
Per Car $10,000 subject t $25,000 any One Occurrence
Business Income Based on $2,100,000 In Annual Revenue
VALUATION: ; Actual Cash value
0 HU Page 14 of 32
premium Summary
Description iption f Coverage
Prior Year Premium
Current PremiUM
Railroad Liability
$124,950
$140,034
Railroad Physical Damn
$127992
$15,860
Total Estimated Annual Premium*
$137r942
$155 894
Hu� Page 18 of 32