NPMA YANKEE CHAPTER PRESENTATION September 26, 2013

PROPERTY INSURANCE PROGRAMGENERAL INFORMATIONPolicy Dates – 10-15-13 to 10-15-14

Perils Insured – All Risks of Physical Loss or Damage except as hereinafter excluded

Territory - USA, Canada and Puerto Rico

Total Insurable Values - $14.0 billion

Policy Limit - $750,000,000 per occurrence

PROPERTY INSURANCE PROGRAM

Description of Coverage or Peril Limit of Liability

Real & Personal Property $750,000,000 and sub limits

Earth Movement $250,000,000 per occurrence and aggregate

Wind (Named Storm) $250,000,000 per occurrence and aggregate

Additional Named Storm Wind $150,000,000 per occurrence

Flood $100,000,000 per occurrence and aggregate not to exceed $25m

forbelow grade basements

PROPERTY INSURANCE PROGRAMDescription of Coverage or Peril

State Capital

State Library

Accounts Receivable

Valuable Papers

Fine Arts

Transit

Debris Removal

Limit of Liability

$400,000,000

$146,000,000

$50,000,000

$25,000,000

$25,000,000

$10,000,000

Policy Limit ($5m for Norwich Hospital)

PROPERTY INSURANCE PROGRAMDescription of Coverage or Peril

Business Interruption

Rental Insurance -University of Connecticut

Computer System-Non Physical Damage

Terrorism

Limit of Liability

$6.8 M for the Convention Center$100 K for Parking Garages

$50 M

$10 M combined with data, programs and software

TRIA Coverage

PROPERTY INSURANCE PROGRAM DEDUCTIBLES

Policy Deductible $250,000 per occurrence

Computer Systems-Non Physical Damage

Earth Movement

Flood

48 Hours subject to a minimum deductible of $25,000

$1,000,000 per location

$1,000,000 per location

PROPERTY INSURANCE PROGRAM DEDUCTIBLES

Wind 2% per location subject to a minimum of

$1,000,ooo wind deductible for Fairfield, Middlesex, New Haven and New London counties; 1% per location subject to a minimum of $1,000,000 wind deductible for Hartford, Litchfield, Tolland and Windham counties.

Fine Arts $25,000

Scheduled Equipment and EDP $25,000

PROPERTY INSURANCE PROGRAM

EXCLUSIONS/CONDITIONS

Air Supported Structures

Boiler & Machinery (Equipment Breakdown)

Vehicles/Aircraft/Watercraft

Currency, money

Animals, growing crops

Excluded

Excluded

Excluded

Excluded

Excluded

PROPERTY INSURANCE PROGRAM

EXCLUSIONS/CONDITIONS

Dams, dikes, tunnels, bridges, docks, piers, roads

Vacant or unoccupied property

Railcars, rail tracks

Excluded

Excluded

Excluded

PROPERTY INSURANCE PROGRAMLOSS ADJUSTMENT VALUATION

Loss will be adjusted with settlement amount payable to the State of Connecticut

Actual Cash Value if property is vacant, unoccupied or not repaired within 2 years

Unless otherwise stated Cost to repair Cost to rebuild or replace with new material of like size,

kind and quality

PROPERTY INSURANCE –FEMA REIMBURSEMENTThe Stafford Act Section 311(a) states

that as a condition for receiving Public Assistance for permanent work, an applicant must obtain and maintain insurance to cover the damaged facility for the hazard that caused the damage.  Such coverage must, at a minimum, be in the amount of the estimated eligible damages for that facility prior to any reduction. 

AUTO PHYSICAL DAMAGE$50,000 Deductible

Scheduled Vehicles ONLY

Claim Valuation – least of1. Actual Cash Value (Replacement cost

less depreciation)2. Cost to repair the damaged vehicle3. Scheduled value

BUILDING & CONTENT VALUE Needed Information

Building DescriptionStreet Address (including City and Zip

Code)Building ValueContent ValueOwned or Leased