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Home My WebLink AboutCRA-R-16-0056 Insurance QuoteC RA Century Risk Advisors Consurtafr ye Insurance and Ruh- Management Advisers & 9rokers Insurance Proposal Prepared for: Omni Redevelopment District Community Redevelopment Agency Presented by: Gary . R shef_sI y, Principal Century Advisory Services, Inc. d b a CENTURY RISK ADVISORS 2600 North Military Trail, Suite 240 Boca Raton, Florida 33431 Main, Telephone: 561.409.2420 Main facsimile: 561.367.3126 www.CenturyRisicAdvisors.com BUILDING RELATIONSHIPS, PROVIDING PROTECTION, ENSURING SOLUTIONS Date Presented: September 19, 2016 This is a summary of proposed coverages, and it is not a legal contract. This summary is provided to assist in your understanding of your proposed insurance program. Please refer to the actual policies for specific terms, conditions, limitations, and exclusions that will govern in the event of a loss. Specimen copies of all policies are available for review prior to the binding of coverage. Higher limits and additional coverage may be available. Please contact us if you are interested in other quotations. All trademarks, trade names or company names referenced herein are used for purposes of information and identification only and are the exclusive property of their respective owners. Their use is not intended to imply any relationship, endorsement, sponsorship, or affiliation by and between the trademark owners and Century Risk Advisors. CORPORATE HEADQUARTERS: Fountain Square, Suite 240 2600 North Military Trail Boca Raton, Florida 33431 Main Telephone: 561.409.2420 Main Facsimile: 561.367.3126 CORAL GABLES OFFICE: Gables Waterway Executive Center, Suite 1302 1390 South Dixie Highway Coral Gables, Florida 33146 Main Telephone: 305.222.7252 CRA Century Risk Advisors CRA Office Locations Consultative Insurance and Risk Management Advisors & Brokers Page I2 'Your Account Team. pk The following individuals comprise your core Account Team. Century Advisory Services, Inc. d/b/a Century Risk Advisors 2600 North Military Trail, Suite 240 Boca Raton, Florida 33431 Main Telephone: 561.409.2420 Main Facsimile: 561.367.3126 Contact Direct Telephone. Fax and EMail Comments Ronald Reshefsky Chairman / President 561.409.2424 561.246.3005 - Fax Ron.Reshefskv@ceniuryra.com Gary Reshefsky, Esq. Principal Sales and Management Executive David Josefsberg Partner 561.409.2423 561.300.2193 - Fax Gary. Reshefskv@centu rvra.com 305.987.4653 561.367.3126 - Fax David.JosefsbergOcentu ryra.com 561.409.2426 Crystal Romero -Sherman, AIAM 561.948.4432 - Fax Vice President, Commercial Lines Crystal.Romero- ShermanOcenturyra.com Sarah Baylin Account Executive Donna Strandell Account Manager CRA Century Risk Advisors 561.409.2425 Sarah. Bavlin@centurvra.com 561.409.2421 Donna.Strandell@centuryra.com CRA Operations Management; and coordinates and oversees his Insureds' Client and Broker service activities and communications Oversees and manages CRA's Professional Practice Division; Coordinates and oversee his Insureds' Client and broker service activities and communications Directs and oversees CRA's Commercial Insurance Department. Crystal coordinates marketing strategies and negotiates insurance programs for new and select renewal clientele. Manages the day-to-day service / management activities of several insurance programs and is responsible for negotiating select renewal programs. Serves as Account Executive for several clients. Assists in the day-to-day service / management activities of several accounts. Supports renewal process. Consultative Insurance and Risk Management Advisors & Brokers Pa�e_l 3. Commercial Property Option I Insured: Insurer: Policy Term: Insured Location(s): 1. 1401 N Miami Ave., Miami, FL 33136 2. 50 NW 14th St., Miami, FL 33136 Omni Redevelopment District Community Redevelopment Agency General Star Indemnity Company (A++:XV) One Year (12 Months) Total Insured Value: $19,900,000 - Scheduled Deductibles: $5,000 Per Occurrence, except Named Storm: 3% of the Limit of Insurance of each insured building at the time of loss, including the Limit of Insured of any Business Income, Rental Value, or Extra Expense coverage, per Calendar Year. All Other Wind or Hail: $50,000 Per Occurrence Cause of Loss: Special Form Valuation: Replacement Cost Coinsurance: Waived Equipment Breakdown: Included Sublimits: Ordinance or Law: A — Included B — 10% of each individual building value C — 10% of each individual building value Sewer Backup : $25,000 Major Exclusions: Annual Premium: Minimum Earned Premium: Flood Earthquake or Earthquake Sprinkler Leakage $80,354 (both locations) $64,094 (location 2 only) 35% ADEQUATE PROPERTY VALUES ARE THE RESPONSIBILITY OF THE POLICY HOLDER. C RA Century Risk Advisors Advisors & Brokers Pa a 14 Consultative Insurance and Risk Management Quote includes General Star's COMPAC Endorsement: • Accounts Receivable $10,000 • Employee Dishonesty $5,000 • Fire Dep't Service Charge $2,500 • Monies & Securities $5,000 • Outdoor Property $10,000 (Fence, Radio, TV, Antennas, Signs) (Coverage is limited to specified perils) • Outdoor Property $2,500 (Signs only) (Coverage for all perils not specified) • Outdoor Property $500 each tree / $2,500 each occurrence (Trees, Shrubs or Plants) • Personal Property of Others $1,000 each item / $5,000 each location • Properties in Transit $10,000 • Property Off Premises $15,000 • Valuable Papers and Records.. $10,000 (other than Electronic Data) Quote includes Equipment Breakdown Coverage: • Equipment Breakdown Limit Same as Property Limit • Business Income/EE Same as Property BI/EE Limit, if Applicable • Expediting Expense $25,000 • Hazardous Substances $25,000 • Spoilage $25,000 • Data Restoration $500 • Demolition/ICC Follows Property Coverage • Newly Acquired Locations Follows Property Coverage • Service Interruption Follows Property Coverage: 24 Hour Waiting Period Applies L_CRA Century Risk Advisors 0 Consultative Insurance and Risk Management Advisors & Brokers Binding Requirements Items Needed to Bind: 1. Favorable Inspection 2. Confirmation in writing of no losses in past 5 years 3. Warrant Automatic Sprinkler System and Central Station Burglar Alarm 4. Signed Applications, Surplus Lines Disclaimer, and Client Authorization to Bind 5. Premium Payment CRA Century Risk Advisors Consultative insurance and Risk Management Advisors & Brokers Coverage Type Carrier Current A.M. Best Rating Cost of Insurance Commercial Property General Star Indemnity Company A++'XV Non -Admitted $80,354 ' General Liability GuideOne National Insurance Co. A: X Non -Admitted $12 748 ' h MINIMUM EARNED PREMIUM/S: Property - 35%; General Liability — 25% *Admitted Company: A company licensed or authorized to sell insurance to the general public. In the United States, admitted companies are licensed on a state -by -state basis and differentiated from surplus lines insurers, which are authorized to sell insurance in a state on a nonadmitted basis. A Non -Admitted Insurer is an insurance company not licensed to do business in a certain state but can nevertheless write coverage through an excess and surplus lines broker licensed in that jurisdiction. Due to the Terrorism Risk Insurance Program Reauthorization Act of 2007 (altering and extending the Terrorism Risk Insurance Act of 2002 [TRIAD, you have the right to purchase coverage for losses arising out of Acts of Terrorism, as defined in the Reauthorization Act. Under Federal Law you may purchase this terrorism coverage for an additional premium as follows. Please note the additional premium may not be included in the above quote. We will require written confirmation at the time of binding if you elect or reject this coverage. Coverage Additional Premium Commercial Property $4,000 (not included) General Liability $250 (not included) This insurance is quoted pursuant to the Florida Surplus Lines Law. Persons insured by Surplus Lines Carriers do not have the protection of the Florida Insurance Guaranty Act to the extent of any right of recovery for the obligation of an insolvent unlicensed insurer. Proposed Policy Terms: TBD Quotations Expire: 15 Days Payment Terms: • Premium Financing or payment in full PRIOR TO binding Binding Requirements: • "Client Authorization To Bind" and elections signed by the insured • Favorable Inspection • Confirmation in writing of no losses in past 5 years • Warrant Automatic Sprinkler System and Central Station Burglar Alarm • Signed Applications, Surplus Lines Disclaimer, and Client Authorization to Bind • General Liability Loss Runs (5 Years) • Premium Payment CRA Century Risk Advisors Consultative Insurance and Risk Management Advisors & Broken Page 114 Summary of Insurance Cost Components Omni Redevelopment District Community Redevelopment Agency The following is the detail of the Renewal Cost of Insurance as displayed within the Premium (Cost of Insurance) Summary section of this Proposal. Coverage g Type Insurance Company Premium FL Statutory Assessments & Charges Other Fees or Charges FL Surplus Lines Taxes & Fees Total Cost of Insurance Commercial Property General Star Indemnity $75,000 $- $- $4,702.44 $80,354 General Liability GuideOne National $11,489 $- $- $1,049.09 $12,748 FL (Florida) Statutory Assessments & Charges may include: Florida Hurricane Catastrophe Fund Assessment; FL Emergency Management Fee (Property policies); Citizens Emergency Assessment Other Fees or Charges include items such as Inspection Fees charged by insurers (with such fees being fully -earned at policy inception —not subject to return if policy is cancelled). FL Surplus Lines Taxes & Fees include FSLSO Service Fee, $35 Filing Fee (if charged, and fully - earned at inception), State Surplus Lines Tax. QCRA Century Risk Advisors Consultative Insurance and Risk Management Advisors & Brokers PaaeI16