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IV. <br /> <br /> 6. Provide and insurance policy inventory and a cumulative five year premium and loss <br /> suanmary. <br /> 7. Provide a complete accounting of all compensations earned (direct or contingent) on this <br /> account. <br /> 8. Provide a loss exposure list with appropriate classifications, updated annually. <br /> 9. Assist in claims control and loss adjustment. <br />10. Assist in minimizing premiums, by reviewing and auditing rate schedules and formulas, <br /> and reviewing claims reserves semi-annually before unit loss reports are filed. <br />11. Assist in loss preventions engineering and loss control programs. <br />12. File updated property values annually with insurer (and elsewhere if necessary) to waive <br /> the applications of co-insurance. <br />13. Provide written confmnation and follow-up on all communications with the insured and <br /> insurers. <br />14. Adjust coverages and premiums as exposure changes are reported by the insured. <br />15. Provide estimates of future premiums for budget proposals 60 days prior to renewal. <br />16. Review lease agreements and contracts. <br /> <br />Total Compensation <br /> A. Amount <br /> The total compensation of Agent for services performed under this agreement for the <br /> period of December 15, 1996 to December 14, 1997 shall be $2,200.00. <br /> <br />Definition <br />"Total Compensation" for the purpose of this agreement shall be deemed to be those <br />mounts listed in Article IV, Section A, of this agreement less: all compensation received <br />by Agent from any Insurance Underwriter for Insurance required by City including both <br />direct and contingent commissions. <br /> <br />If permitted by Insurance companies, only net premium charges shall be made in every <br />Insurance placement irrespective of the level of compensation incurred. <br /> <br />EXCESS <br />If payments received by Agent exceed the total compensation, City shall request Agent <br />to perform additional Risk Management services, other than the placement of Insurance, <br />equal in value to such excess. If, however, City does not request such additional <br />services, then Agent shall remit such excess to City, and this total compensation <br />provision is hereby incorporated in any Insurance placed by Agent on behalf of City. <br /> <br />Do <br /> <br />Invoice <br />For the service specified, Agent shall be entitled to total compensation as specified above <br />and as billed. The City, upon request to Agent, shall be provided with an itemized <br />statement of services provided, time expended, and persons providing said services. <br /> <br />Performance <br />City agrees to make available to Agent all necessary f'mancial and operating data essential to the <br />performance of services described in Article III. City shall provide access to its premises and <br />properties and such written authorization as shall be required by rating bureaus, Insurance <br />companies or similar organizations. <br /> <br />City agrees to appoint Agent Agent of Record or Broker of Record for all Insurance Companies <br />marketing products through the Agency System. <br /> <br />3 <br /> <br /> <br />