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IV. <br /> <br /> 9. <br />10. <br /> <br /> 11, <br /> 12, <br /> <br /> I3. <br /> <br /> 14. <br /> 15. <br /> <br /> 16. <br />Total <br /> <br />recommendations for upgrading the existing insurance program if necessary, <br />Assist in developing comprehensive insurance coverages. <br />Provide and insurance policy inventory and a cumulative five year premium and <br />loss summary. <br />Provide a complete accounting of all compensations earned (direct or contingent) on <br />this account. <br />Provide a loss exposure list with appropriate classifications, updated annually. <br />Assist in claims control and loss adjustment. <br />Assist in minimizing premiums, by reviewing and auditing rate schedules and <br />formulas, and reviewing claims reserves semi-annually before unit loss repons are <br />filed. <br />Assist in loss preventions engineering and loss control programs. <br />File updated property values annually with insurer (and elsewhere if necessary) to <br />waive the applications of co-insurance. <br />Provide written confirmation and follow-up on all communications with the insured <br />and insurers. <br />Adjust coverages and premiums as exposure changes are reported by the insured. <br />Provide estimates of future premiums for budget proposals 60 days prior to <br />renewal. <br />Review lease agreements and contracts. <br /> <br /> Comnens~lion <br />A.Amount <br /> The total compensation of Agent for services performed under this agreement for <br /> the period of December 15, 1994 to December 14, 1995 shall be $2,200. <br /> <br />B.Definition <br /> "Total Compensation" for the purpose of this agreement shall be deemed to be those <br /> amounts listed in Article IV, Section A, of this agreement less: all compensation <br /> received by Agent from any Insurance Underwriter for insurance required by City <br /> including both direct and contingent commissions. <br /> <br />If permitted by Insurance companies, only net premium charges shall be made in <br />ever3, Insurance placement irrespective of the level of compensation incurred. <br /> <br />C.Excess <br /> If payments received by Agent exceed the total compensation, City shall request <br /> Agent to perform additional Risk Management services, other than the placement <br /> of Insurance, equal in value to such excess. If, however, City does not request <br /> such additional services, then Agent shall remit such excess to City, and this total <br /> compensation provision is hereby incorporated in an.,,, Insurance placed by Agent <br /> on behalf of City. <br /> <br />D.Invoice <br /> For the service specified, Agent shall be entitled to total compensation as specified <br /> above and as billed. The City, upon request to Agent, shall be provided with an <br /> itemized statement of services provided, time expended, and persons providing said <br /> services. <br /> <br /> <br />