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2007 ERMU Quote Comparison 8~ Options
<br />Renewal -April 1, 2007 - 2008
<br />Insurance Company AIG Global-HSB Starr-Tech-ACE LMCIT/HSB
<br />
<br />
<br />A.M.Best Rating
<br />A++ Su erior
<br />A+ Su erior LMCIT unrated-fully reins./HSB-
<br />A++ Sup.
<br />
<br />Policy Limit of Liability $12,225,000 $4,500 any occurrence Follows Pro ert
<br /> (PerAcc.Prop Dam.($95MM Max)
<br />
<br />Loss of Revenue & Extra Expense Excluded Excluded Excluded
<br />
<br />sublimits: Each Accident or occurrence unless noted in coverage forms
<br />Service Interruption Excluded Excluded Excluded
<br />Perishable Goods Not addressed Not addressed $100,000
<br />Data Restoration Not addressed Not addressed $100,000
<br />Demolition & ICC(Incr. Cost of Constr) Not addressed Not addressed $100,000
<br />Expediting Expenses $100,000 $5,000 $100,000
<br />Pollutants $100,000 $5,000 $100,000
<br /> Ammonia Cont 8 Haz. Sub Ammonia Cont &Haz. Sub
<br />Water Damage $100,000 $5,000 Not addressed
<br />CFC Refrigerants Not addressed Not addressed $100,000
<br />Newly Acquired Locations Not addressed Not addressed $5,000,000-must be reported
<br />
<br />Deductible Any One Accident $50,000 Prop Damage $50,000 per acc. $25,000 Direct Coverages
<br />Except:
<br />Transformers $50,000 $50,000 $1.50/KVA-$25,00 Min
<br />
<br />ICE rated at 800 KW $40/HP $50,000 Min-
<br />$150,000 Max $40/HP $50,000 Min-
<br />$150,000 Max
<br />$50,000
<br />
<br />Cooper Bessemer ICE rated - 3000 KW $40/HP $50,000 Min-
<br />$150,000 Max $40/HP $50,000 Min-
<br />$150,000 Max
<br />$150,000
<br />
<br />Worthington ICE rated - 5000KW $40/HP $50,000 Min-
<br />$150,000 Max $40lHP $50,000 Min-
<br />$150,000 Max
<br />$250,000
<br />
<br />
<br />Excluded Equipment VO-2800 & 2801Worths. &
<br />Bens. VO-2800 & 2801Worths. &
<br />Bens.
<br />VO-2800 & 2801 Worths. 8~ gens.
<br />
<br />Limitations of Coverage: ACV @ Main Plant ACV objects >20yrs old ACV objects >25yrs old
<br />
<br />
<br />
<br />Premium: $39,206 $36,915 $52,035
<br />Terrorism Premium $2,747 $1,950 InCI.-see #5 below
<br />Inspection Fee $1,500 $1,500 Included
<br />TOTAL COST -Annual $43,453 $40,365 $52,035
<br /> 'does not incl taxes & surcharges
<br />Special Considerations:
<br />1) LMCIT option would be placed 4/1/07 to 7/1/07, premium pro-rated- approx $13,100, then added to LMCIT regular renewal on 7/1/07.
<br />2) If LMCIT/HSB option selected, would likely not be able to secure ACE/Star-Tech quote next July or next year, perhaps not HSB direct either.
<br />3) Could consider option to self-insure 1 or both older units.
<br />4) Could consider option to replace 1 or more of older engines -rates to insure new or newer units lower than on old equipment.
<br />5) LMCIT/HSB Terrorism -Breakdown due to terrorism act covered, but ensuing damage by fire or other subject to LMCIT Prop. Max. of $1 MM Agg.
<br />6 Deductible for dama a to either Coo er or Worthin ton would be at the Maximum of $150,000 with either HSB 8~ ACE o tions.
<br />7 Ded.- HSB 8~ ACE on Cater illar en s. Landifll could exceed $50,000 dep. u on HP ratin s-unable to locate HP on Cat units
<br />8 Consider sta in with AIGGlobal -HSB, work on values Sr lans fore ui ., then o with LMCIT/HSB either 7-1-07 renewal or 4-01-08.
<br />IAIG Global-HSB Starr-Tech-ACE LMCIT/HSB
<br />arr- ec peop a now e
<br />PROS : Incumbent carrier acct. HSB Inspection services
<br />LMCIT relationship already in
<br />HSB know the a ui Best rice place-best advocate
<br />LMCIT on Prop- no disputes
<br />Reasonable rice between carriers
<br />Higher & broadest sublimits
<br />Lowest Per Accident General Ded
<br />@$25,000
<br />$50.000 Ded max-new engines
<br />$50,000 Min Ded-any
<br />CONS: accident Lowest sublimits $250,000 Ded on Worthington
<br />Lowest olic limit Highest premium
<br />$50,000 Min Ded per Acc.
<br />Notes:
<br />1 If all covera es, deductibles, etc. were identical, remiums would robabl be much closer
<br />2 Checkin on possible remium im act if we could sta with HSB direct 8~ then make a move to LMCIT/HSB in Jul or Apri1,2008
<br />me3-29-07
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