Laserfiche WebLink
IV. <br /> <br /> o <br /> <br />5. <br />6. <br /> <br />7. <br /> <br />8. <br /> <br /> 11. <br /> 12. <br /> <br /> 13. <br /> <br /> 14. <br /> 15. <br /> <br /> 16. <br />Total <br /> <br />Provide information on relevant changes in the insurance market, with <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 />Fiie updated property values annually with insurer (and elsewhere if necessary) to <br />wmive 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 /> Compensation <br />A.Amount <br /> The total compensation of Hadtrath for services performed under this agreement <br /> for the period of December 15, 1993 to December 14, 1994 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 Hadtrath from any Insurance Underwriter for Insurance required by <br /> City including both direct and contingent commissions. <br /> <br />If permitted by Insurance companies, only net premium charges shall be made in <br />every Insurance placement irrespective of the level of compensation incurred. <br /> <br />C.Excess <br /> If payments received by Hadtrath exceed the total compensation, City shall <br /> request Hadtrath to perform additional Risk Management services, other than the <br /> placement of Insurance, equal in value to such excess. If, however, City does not <br /> request such additional services, then Hatltrath shall remit such excess to City, <br /> and this total compensation provision is hereby incorporated in any Insurance <br /> placed by Hadtrath on behalf of City. <br /> <br />D.Invoice <br /> For the service specified, Hadtrath shall be entitled to total compensation as <br /> specified above and as billed, The City, upon request to Hadtrath, shall be <br /> provided with an itemized statement of services provided, time expended, and <br /> persons providing said services. <br /> <br /> <br />