HomeMy WebLinkAboutContractLast Updated: May 2023 Alliant Insurance Services, Inc. |www.alliant.com | CA License No. 0C36861 Page 1
Disclosures / Disclaimers
This proposal of insurance is provided as a matter of convenience and information only. All information included in this
proposal, including but not limited to personal and real property values, locations, operations, products, data, automobile
schedules, financial data and loss experience, is based on facts and representations supplied to Alliant Insurance Services,
Inc. by you. This proposal does not reflect any independent study or investigation by Alliant Insurance Services, Inc. or its
agents and employees.
Please be advised that this proposal is also expressly conditioned on there being no material change in the risk between
the date of this proposal and the inception date of the proposed policy (including the occurrence of any claim or notice of
circumstances that may give rise to a claim under any policy which the policy being proposed is a renewal or replacement).
In the event of such change of risk, the insurer may, at its sole discretion, modify, or withdraw this proposal, whether or
not this offer has already been accepted.
This proposal is not confirmation of insurance and does not add to, extend, amend, change, or alter any coverage in any
actual policy of insurance you may have. All existing policy terms, conditions, exclusions, and limitations apply. For
specific information regarding your insurance coverage, please refer to the policy itself. Alliant Insurance Services, Inc.
will not be liable for any claims arising from or related to information included in or omitted from this proposal of insurance.
Alliant embraces a policy of transparency with respect to its compensation from insurance transactions. Details on our
compensation policy, including the types of income that Alliant may earn on a placement, are available on our website at
www.alliant.com. For a copy of our policy or for any inquiries regarding compensation issues pertaining to your account
you may also contact us at: Alliant Insurance Services, Inc., Attention: General Counsel, 701 B Street, 6th Floor, San
Diego, CA 92101.
Analyzing insurers' over-all performance and financial strength is a task that requires specialized skills and in-depth
technical understanding of all aspects of insurance company finances and operations. Insurance brokerages such as
Alliant Insurance typically rely upon rating agencies for this type of market analysis. Both A.M. Best and Standard and
Poor's have been industry leaders in this area for many decades, utilizing a combination of quantitative and qualitative
analysis of the information available in formulating their ratings.
A.M. Best has an extensive database of nearly 6,000 Life/Health, Property Casualty and International companies. You can
visit them via this www.AmBest.com. For additional information regarding insurer financial strength ratings visit Standard
and Poor's website at www.standardandpoors.com.
Our goal is to procure insurance for you with underwriters possessing the financial strength to perform. Alliant does not,
however, guarantee the solvency of any underwriters with which insurance or reinsurance is placed and maintains no
responsibility for any loss or damage arising from the financial failure or insolvency of any insurer. We encourage you to
review the publicly available information collected to enable you to make an informed decision to accept or reject a
particular underwriter. To learn more about companies doing business in your state, visit the Department of Insurance
website for that state.
New York Regulation 194 and General Broker Compensation Disclosure
Alliant Insurance Services, Inc. is an insurance producer licensed by the State of New York and other States. Insurance
producers are authorized by their license to confer with insurance purchasers about the benefits, terms and conditions of
insurance contracts; to offer advice concerning the substantive benefits of particular insurance contracts; to sell insurance;
and to obtain insurance for purchasers. The role of the producer in any particular transaction typically involves one or more
of these activities.
Compensation will be paid to the producer, based on the insurance contract the producer sells. Depending on the
insurer(s) and insurance contract(s) the purchaser selects, compensation will be paid by the insurer(s) selling the insurance
contract or by another third party. Such compensation may vary depending on a number of factors, including
the insurance contract(s) and the insurer(s) the purchaser selects. In some cases, other factors such as the volume of
business a producer provides to an insurer or the profitability of insurance contracts a producer provides to an insurer also
may affect compensation.
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Last Updated: May 2023 Alliant Insurance Services, Inc. | www.alliant.com | CA License No. 0C36861 Page 2
Disclosures / Disclaimers Cont.
The insurance purchaser may obtain information about compensation expected to be received by the producer based in
whole or in part on the sale of insurance to the purchaser, and (if applicable) compensation expected to be received based
in whole or in part on any alternative quotes presented to the purchaser by the producer, by requesting such information
from the producer.
Declaration Limit Disclosure
Unless stated otherwise, coverage limits of liability and sub-limits of liability are shared across the Named Insured(s)
designated in a single Declaration. Exceptions include:
Terrorism coverage, if purchased by a specific Named Insured, is provided on a combined basis with a sub-limit
of liability that is shared across Named Insureds covered under multiple relevant Declarations.
Flood and Earthquake sub-limits of liability, if purchased by a specific Named Insured and except as indicated
below, are dedicated by Named Insured and cannot be reduced by losses sustained by other Named Insureds.
If a single Occurrence causes direct physical loss or damage to property of multiple Named Insureds covered by the
same Declaration (or all relevant Declarations as respects Terrorism coverage), it is possible that the applicable shared
limit of liability or sub-limit of liability may be insufficient to fully indemnify the physical loss or damage as sustained by
multiple Named Insureds.
In the event of a loss or accumulation of losses whereby the amount of loss exceeds the applicable shared limit of
liability or sub-limit of liability, the recovery available will be allocated on a proportional basis among individual Named
Insureds under the same Declaration (or all relevant Declarations as respects Terrorism coverage). This allocation
applies until exhaustion of limits on a per Occurrence basis and on an Annual Aggregate basis (if applicable). If a
Furthermore, any Annual Aggregate limit of liability or sub-limit that is shared across all Named Insureds covered under a
particular Declaration (or all relevant Declarations as respects Terrorism coverage) may be reduced or exhausted by the
prior payment of claims arising out of separate Occurrences in the same Policy Period. As a result, it is possible that
To the extent actually covered, the Annual Aggregate limits are as follows:
Accidental Contamination
Mold/Fungus Resultant Damage
Terrorism
Arts for Named Insured(s) that do not purchase optional dedicated Earthquake or Flood coverage
Privacy
At Alliant, one of our top priorities is making sure that the information we have about you is protected and secure. We
value our relationship with you and work hard to preserve your privacy and ensure that your preferences are honored. At
about you in order to provide the products and services you expect from us. Please take the time to read our full Privacy
Policy posted at www.alliant.com and contact your Alliant service team should you have any questions.
FATCA
The Foreign Account Tax Compliance Act (FATCA) requires the notification of certain financial accounts to the United
States Internal Revenue Service. Alliant does not provide tax advice so please contact your tax consultant for your
obligation regarding FATCA.
Last Updated: May 2023 Alliant Insurance Services, Inc. | www.alliant.com | CA License No. 0C36861 Page 3
Disclosures / Disclaimers Cont.
NRRA
(Applicable if the insurance company is non-admitted)
The Non-Admitted and Reinsurance Reform Act (NRRA) went into effect on July 21, 2011. Accordingly, surplus lines tax
rates and regulations are subject to change which could result in an increase or decrease of the total surplus lines taxes
and/or fees owed on this placement. If a change is required, we will promptly notify you. Any additional taxes and/or
fees must be promptly remitted to Alliant Insurance Services, Inc.
Changes and Developments
It is important that we be advised of any changes in your operations, which may have a bearing on the validity and/or
adequacy of your insurance. The types of changes that concern us include, but are not limited to, those listed below:
Mergers and/or acquisition and any change in business ownership, including percentages.
Any newly assumed contractual liability, granting of indemnities or hold harmless agreements.
Any changes in existing premises including vacancy, whether temporary or permanent, alterations, demolition,
etc. Also, any new premises either purchased, constructed or occupied
Circumstances which may require an increased liability insurance limit.
Any changes in fire or theft protection such as the installation of or disconnection of sprinkler systems, burglar
alarms, etc. This includes any alterations to the system.
Immediate notification of any changes to a scheduled of equipment, property, vehicles, electronic data
processing, etc.
Property of yours that is in transit, unless previously discussed and/or currently insured.
Loss Notification Requirements:
Your policy will come with specific claim reporting requirements. Please make sure your organization understands these
obligations and time limitations which are outlined in the attached Loss Notification documents. Contact your Alliant
Service Team with any questions.
Last Updated: May 2023 Alliant Insurance Services, Inc. | www.alliant.com | CA License No. 0C36861 Page 4
Binding Requirements Recap
Required with Binding Request:
Signed and dated Request to Bind Coverage form (below)
Signed and dated Surplus Lines forms as required by your state and attached to this proposal*
Signed and dated APIP Claims Reporting Acknowledgement(s) Receipt Form
Signed and dated Terrorism Risk Insurance ACT
*- only required for coverage in the following states: AR, CA, CT, FL, KS, MA, MT, NE, NY, ND, OH, RI, WV, WY
Request to Bind Coverage
City of Renton
We have reviewed the proposal and agree to the terms and conditions of the coverages presented.
This Authorization to Bind Coverage also acknowledges receipt and review of all disclaimers, disclosures, and loss
notification requirements including exposures used to develop insurance terms, contained within this proposal.
X
Signature of Authorized Insured Representative Date
Title
Print / Type Insured Representative Full Name
This proposal does not constitute a binder of insurance. Binding is subject to final carrier approval. The
actual terms and conditions of the policy will prevail.
6/25/2025
Mayor
Armondo Pavone
Attest:__________________________
Jason Seth, City Clerk