THE MIAMI VALLEY RISK MANAGEMENT ASSOCIATION

Summary of Pool

Pool Name: Miami Valley Risk Management Association

Type of Pool: Municipal Property/Casualty

Initial Operation Date: December 1, 1988

Pool Membership:

Coverage Lines Provided:

Member Deductible: $ 2,500 per occurrence

Pool Shared Losses:

 

 

Casualty Program   Crime Insurance
Boiler & Machinery Program  Property Program  

 

 Casualty Program

MVRMA Self-Insured Coverage: $1M each occurrence
Reinsurer: Government Entities Mutual, Inc. (GEM) - $9M excess $1M with $8M retroceded to Munich Re America
A.M. Best Rating: GEM is an Association Captive and not currently rated

Munich Re America/A+
Term:

Premium:

 1/1/08-1/1/09

$466,052

Coverages                                                         Limits of Liability
Public entity Liability                                          $10M each occurrence
General Liability                                                  included
Host and Liquor Legal Liability                         included
Police Professional                                            included
Automobile Liability                                            included
EMT and Paramedic Professional Liability     included
Ohio Stop Gap Employers Liability                  included
Fire Fighters E&O                                              included
Ohio Stop Gap Employers Liability                  included
Fire Fighters E&O                                              included

Employment Practices Liability                        included/$10M Annual Aggregate per member

Public Officials Liability including                                    
Employee Benefits Liability                              included/$10M Annual Aggregate per member

Products/Completed Operations                    included/$10M Annual Aggregate per member

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Crime Insurance

Carrier: National Union Fire Ins. Co. of Pittsburgh, PA (AIG)
A.M. Best Rating: A++
Term:

1/1/08 to 1/1/09

Coverages                                                             Limits of Liability                                Deductible 
Employee Theft                                                      $1,000,000 each occurrence                $25,000
Forgery or Alteration                                              $1,000,000 each occurrence                $25,000
Inside Premises                                                     $      25,000 each occurrence                $10,000
Robbery & Safe Burglary                                                   $      25,000 each occurrence                $10,000
Computer Fraud                                                     $1,000,000 each occurrence                $25,000
Funds Transfer Fraud                                            $    100,000 each occurrence                $25,000
Outside the Premises                                            $      25,000 each occurrence                $10,000
Money Orders/Counterfeit Currency                     $        5,000 each occurrence                $ 0

Includes Treasurers or Tax collectors as employees and adds faithful performance of duty for all governmental employees

Deletes exclusion of bonded employees

Includes coverage for MVRMA staff and officers


Note: Scheduled Position Bonds are available with limits as required by individual city ordinance, charter or other statutory requirement.  For any member requiring "all employees" be bonded, the limit for coverage within the MVRMA program will be $2,500 per employee.

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Property Program

NAMED INSURED:

Miami Valley Risk Management Association (MVRMA)

 

 

DECLARATION:

1-Cities 1

 

 

POLICY PERIOD:

July 1, 2008 to July 1, 2009

 

 

COMPANIES:

Lexington Insurance Company  - 100% of $25,000,000 Primary

(See policy for complete list of companies)

 

 

TOTAL INSURED VALUES:

$ 844,358,284 as of June 27, 2008


 

 

 

COVERAGES & LIMITS:

$     1,000,000,000   Per Occurrence: All Perils, Coverages (subject to policy exclusions) and Insureds/Members combined, subject to the following per occurrence and/or aggregate sub-limits as noted.

 

 

 

$          25,000,000   Dedicated Flood Limit - Per Occurrence & Annual Aggregate

 

 

 

$           5,000,000   Per occurrence and annual aggregate Flood Zone A & V Sublimit (inclusive of all 100 year exposures) and does not increase the specific flood limit of liability

 

 

 

$          25,000,000   Dedicated Earthquake Shock Limit - Per Occurrence & Annual Aggregate

 

 

 

$        100,000,000   Combined Business Interruption, Rental Income and Tax Interruption and Tuition Income (and related fees) Per Member; except $500,000 / $2,500,000 maximum Per Occurrence limit if values are not reported by member.  BI Coverage for Power Generating Plants is excluded unless otherwise specified.      

 

 

 

$          50,000,000   Extra Expense

 

 

 

$          25,000,000   Miscellaneous Unnamed Locations for existing Members.  If Flood coverage is purchased for all scheduled locations, this extension will extend to include Flood coverage for any location not situated in Flood Zones A or V.

 

 

 

             120 Days   BI Extended Period of Indemnity

 

 

 

See Policy Provisions $25,000,000 Automatic Acquisition up to $100,000,000 for 90 days excluding licensed vehicles for which a sublimit of $10,000,000 applies per policy Automatic Acquisition Clause.  If Flood coverage is purchased for all scheduled locations, this extension will extend to include Flood coverage for any location not situated in Flood Zones A or V.

 

 

 

$           1,000,000   Unscheduled Landscaping, tees, sand traps, greens and athletic fields and further subject to $25,000 / 25 gallon maximum per item

 

 

 

 

$           5,000,000   Scheduled Landscaping, tees, sand traps, greens and athletic fields and further subject to $25,000 / 25 gallon maximum per item.

 

 

 

$          40,000,000   Errors & Omissions

 

 

 

$          25,000,000   Course of Construction and Additions (including new) for projects with project values not exceeding $25,000,000.

 

 

 

$           2,500,000   Money & Securities for named perils only

 

 

 

$           2,500,000   Unscheduled Fine Arts

 

 

 

$              250,000   Accidental Contamination per occurrence and annual aggregate per member with $500,000 annual aggregate for all insureds / members

 

 

 

$              500,000   Unscheduled Tunnels, Bridges, Dams, Catwalks (except those not for public use), Roadways, Highways, Streets, Sidewalks, Culverts, Street Lights and Traffic Signals unless a specific value has been declared (excluding coverage for the peril of Earthquake Shock,  and excluding Federal Emergency Management Agency (FEMA) and/or Office of Emergency Services (OES) declared disasters)

 

 

 

$          25,000,000   Increased Cost of Construction due to the enforcement of building codes/ ordinance or law (includes All Risk and Boiler & Machinery)

 

 

 

$          25,000,000   Transit

 

 

 

$           1,000,000   Unscheduled Animals; not to exceed $50,000 per Animal, per Occurrence

 

 

 

$           2,500,000   Unscheduled Watercraft up to 27 feet

 

 

 

$          25,000,000   Off Premises Services Interruption including Extra Expense resulting from a covered peril at non-owned/operated locations

 

 

 

 

 

$           2,500,000   Contingent Business Interruption, Contingent Rental Values, and Contingent Extra Expense separately

 

 

 

$              500,000   Jewelry, Furs, Precious Metals and Precious Stones Separately

 

 

 

$              500,000   Claims Preparation Expenses

 

 

 

$          50,000,000   Expediting Expenses

 

 

 

$              500,000   Personal Property Outside of the USA

 

 

 

 

 

$        100,000,000   per member/entity per occurrence subject to $200,000,000 Annual Aggregate of Declarations 1-10, 12, 13, 17, 18, 19 and 20 combined as respects Property Damage, Business Interruption, Rental Income and Extra Expense Combined for Terrorism (Primary Layer)

 

 

 

 

$        150,000,000   Per Member/Entity for Terrorism (Excess Layer)

 

 

 

 

$        300,000,000   Per Occurrence, All Members combined in Declarations 1-9, 11, 12, 19 and 20 for Terrorism (Excess Layer)

 

 

 

 

$        550,000,000   Annual Aggregate shared by all Members/Entities combined in Declarations 1-9, 11, 12, 19 and 20, as respects Property Damage, Business Interruption, Rental Income and Extra Expense combined for Terrorism (Excess Layer)

 

 

 

Not Covered Stand Alone Terrorism Limit

 

 

VALUATION:

·     Repair or Replacement Cost

·     Actual Loss Sustained for Time Element Coverages

·     Vehicles & Contractor’s Equipment / either Replacement Cost or Actual Cash Value as declared by each member.  If  not declared, valuation will default to actual cash value

 

 

EXCLUSIONS

(Including but not

limited to):

 

 

·         Seepage & Contamination

·         Cost of Clean-up for Pollution

·         Mold

 

ALL RISK BASIC

DEDUCTIBLE:

 

$              200,000   Per Occurrence

 

DEDUCTIBLES FOR SPECIFIC PERILS

AND COVERAGES:

$              250,000   Per Occurrence for Flood Zones A & V

 

 

 

$              100,000   All Flood Zones Per Occurrence excluding Flood Zones A & V

 

 

 

$              100,000   Earthquake Shock:  If the stated deductible is a flat dollar amount, the deductible will apply on a Per Occurrence basis. 

 

 

 

$                 1,000   Per Occurrence for Specially Trained Animals

 

 

 

$              500,000   Per Occurrence for Unscheduled Tunnels, Bridges, Dams, Catwalks (except those not for public use), Roadways, Highways, Streets, Sidewalks, Culverts, Street Lights and Traffic Signals unless a specific value has been declared (excluding coverage for the peril of Earthquake Shock,  and excluding Federal Emergency Management Agency (FEMA) and/or Office of Emergency Services (OES) declared disasters)

 

 

 

 

 

24 Hour Waiting Period for Service Interruption for All Perils and Coverages

 

 

 

2.5% of Annual Tax Value per Location for Tax Interruption

 

 

 

$              200,000   Vehicle Physical Damage

 

 

 

$              200,000   Per Occurrence for Contractor's Equipment

 

 

 

$              200,000   Per Occurrence for Primary Terrorism

 

 

 

$              500,000   Per Occurrence for Excess Terrorism (Applies only if the Primary Terrorism Limit is exhausted)

 

 

 

Not Covered Per Occurrence for Stand Alone Terrorism Deductible

 

 


 

CONDITIONS:

25% Minimum Earned Premium and cancellations subject to 10% penalty

 

 

NOTICE OF CANCELLATION:

 

90 days except 10 days for non-payment of premium

 

Boiler & Machinery Program

NAMED INSURED:

Miami Valley Risk Management Association (MVRMA)

 

 

DECLARATION:

1-Cities 1

 

 

POLICY PERIOD:

July 1, 2008 to July 1, 2009

COMPANIES:

Lexington Insurance Company       100% of $25,000,000 Primary

(See policy for complete list of companies)

 

 

TOTAL INSURED VALUES:

$ 844,358,284 as of June 27, 2008

 

 

COVERAGES & LIMITS:

$  100,000,000   Boiler & Machinery, Breakdown, Combined Property Damage and Business Interruption/Extra Expense (Including Bond Revenue Interest Payments where Values Reported and excluding Business Interruption for power generating facilities unless otherwise specified).  Limit includes loss adjustment agreement, defense costs outside of limits and electronic computer or electronic data processing equipment with the following sub-limits:

 

 

 

        Included    Inspection Services

 

 

 

$    10,000,000   Per Occurrence for Utility Interruption for Utilities owned by others

 

 

 

$    10,000,000   Per Occurrence for Ammonia Contamination

 

 

 

$    10,000,000   Per Occurrence for Water Damage

 

 

 

$    10,000,000   Per Occurrence for Consequential Damage

 

 

 

$    10,000,000   Per Occurrence for Electronic Data Processing Media

 

 

 

$     2,000,000   Per Occurrence for Annual Aggregate for Earthquake Resultant Damage for Members who purchase Dedicated Earthquake Coverage

 

 

 

$     1,000,000   Per Occurrence for Hazardous Substance

 

 

 

       Included    Per Occurrence for Machine or Apparatus used for Research, Diagnosis, Medication, Surgical, Therapeutic, Dental or Pathological Purposes

 

 
     


 

 

 

NAMED INSURED CLAUSE:

Named Insured covers entities you acquire or in which you have 50% or more ownership or contractual control prior to loss

 

 

 

NEWLY ACQUIRED

LOCATIONS:

 

$    25,000,000   Automatic Acquisition for Boiler & Machinery values at newly acquired locations.  Values greater than $25,000,000 or Power Generating Facilities must be reported within 90 days and must have prior underwriting approval prior to binding

 

 

VALUATION:

Repair or Replacement except Actual Loss sustained for all Time Element coverages

 

 

EXCLUSIONS

(Including but not limited to):

 

·     Testing

·     Explosion, except for steam or centrifugal explosion

·     Explosion of gas or unconsumed fuel from furnace of the boiler

 

 

OBJECTS EXCLUDED:

(Including but not limited to):

 

·         Insulating or refractory material

·     Buried Vessels or Piping

·     Furnace, Oven, Stove, Incinerator, Pot Kiln

 

 

NOTICE OF CANCELLATION:

 

90 days except 10 days for non-payment of premium


 

 

 

DEDUCTIBLES:

$       5,000      Except as shown for Specific Objects or Perils

 

 

 

$       5,000      Electronic Data Processing Media

 

 

 

$       5,000      Consequential Damage

 

 

 

$       5,000      Objects over 200 hp, 1,000 KW/KVA/Amps or Boilers over 5,000 square feet of heating surface

 

 

 

$     50,000      Objects over 350 hp, 2,500 KW/KVA/Amps or Boilers over 10,000 square feet of heating surface

 

 

 

$   100,000      Objects over 500 hp, 5,000 KW/KVA/Amps or Boilers over 25,000 square feet of heating surface

 

 

 

$   250,000      Objects over 750 hp, 10,000 KW/KVA/Amps or Boilers over 75,000 square feet of heating surface