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Resolution No. 85061 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 } x RESOLUTION NO. 8506 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON APPROVING AND RATIFYING THE ACTIONS TAKEN REGARDING THE PURCHASE OF COMMERCIAL INSURANCE POLICIES (PROPERTY AND EXCESS LIABILITY) THROUGH ARTHUR J. GALLAGHER & CO. WHEREAS, by Resolution No. 8437 adopted on April 21, 2004, the City Council of the City of Vernon withdrew from the Independent Cities Risk Management Authority Insurance Program and Liability Pool (collectively referred to as the "Commercial Insurance Program") effective July 1, 2004; and WHEREAS, the City employed the services of Arthur J. Gallagher & Co. ("Arthur J. Gallagher") to act as the City's broker to structure and obtain the appropriate Commercial Insurance Program coverage for the period July 1, 2004 to July 1, 2005; and WHEREAS, Arthur J. Gallagher has recommended that the City purchase the following policies for its Commercial Insurance Program: (i) a Property Policy (including earthquake and equipment breakdown) with Global Special Risks, Inc. ("Global"); (ii) a First $10 Million Excess SIR Liability Policy with Insurance Company of the State of PA ("PA"); and (iii) a Second $10 Million Excess Liability Policy with Gulf Underwriters Insurance Company ("Gulf"); and WHEREAS, in order to meet the urgent need for the Commercial Insurance Program, the City Administrator executed a Proposal Acceptance Page, Statement of Values, SLA D-1 Forms (Lloyds of London, Arch Specialty Insurance Company and Gulf) and Policy Disclosure Form required by Terrorism Risk Insurance Act of 2002 (the "Agreement") with Global, PA and Gulf through Arthur J. Gallagher, dated July 21, 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 112004, and authorized the wire transfer of the annual premiums on July 1, 2004 and July 20, 2004, in the approximate -amount of $446,644.00, in accordance with the terms thereof, subject to ratification by the City Council; and WHEREAS, on July 28, 2004, the Finance Committee considered the recommendation of Bruce V. Malkenhorst, the Director of Finance, dated July 22, 2004, that the actions of the City Administrator in obtaining the necessary insurance coverage for the Commercial Insurance Program, issuing the annual premium payments and executing the Agreement with Global, PA and Gulf, be ratified; and WHEREAS, the City Council desires to approve and ratify the Agreement, as executed by the City Administrator, and the annual premium payments in accordance therewith; and WHEREAS, the City Council of the City of Vernon has determined that, pursuant to the provisions of subsection (a) of Section 2.27 of the Vernon City Code, it is in the public interest and necessity to ratify entering into the Agreement with Global, PA and' Gulf, through Arthur J. Gallagher. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VERNON AS FOLLOWS: SECTION 1: The City Council of the City of Vernon hereby (finds and determines that the recitals contained hereinabove are true and correct. SECTION 2: The City Council of the City of Vernon hereby ratifies the execution of the Proposal Acceptance Page, Statement of Values, SLA D-1 Forms (Lloyds of London, Arch Specialty Insurance Company and Gulf) and Policy Disclosure Form required by Terrorism Risk Insurance Act of 2002 (the "Agreement") with Global, PA and Gulf - 2 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 through Arthur J. Gallagher, a copy of which is attached hereto as Exhibit A and incorporated by this reference. SECTION 3: The City Council of the City of Vernon hereby approves and ratifies the annual premium payment of $446,644.00 in accordance with the terms of the Agreement. SECTION 4: The City Council of the City of Vernon hereby authorizes the City Administrator, or his designee, to execute any and all documents necessary for the purpose of securing the insurance for the Commercial Insurance Program and to implement and carry out the purposes specified in the Agreement on behalf of the City of Vernon. SECTION 5: The City Council of the City of Vernon hereby directs the City Clerk, or his designee, to send a copy of this Resolution to: Arthur J. Gallagher & Co. Attn. Jayne Sexton Mazziotti, CIC 505 N. Brand Blvd., Suite 600 Glendale, CA 91203-3944 SECTION 6: The City Clerk of the City of Vernon shall certify to the passage of this resolution, and thereupon and thereafter the same shall be in full force and effect. APPROVED AND ADOPTED this 28th day of July, 2004. ATTEST: �---- " 1, BRUCE V. MALKENHORST, City Clerk ONIS C. MALB RG, M yor - 3 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 STATE OF CALIFORNIA ) ) ss COUNTY OF LOS ANGELES ) I, BRUCE V. MALKENHORST, City Clerk of the City of Vernon, do hereby certify that the foregoing Resolution, being Resolution No. 8506, was duly adopted by the City Council of the City of Vernon at an adjourned regular meeting of the City Council duly held on Wednesday, July 28, 2004, and thereafter was duly signed by the Mayor of the City of Vernon. (SEAL) BRUCE V. MALKENHORST, City Clerk - 4 - EXHIBIT 0 PROPOSAL ACCEPTANCE POLICY OPTIONS: YES NO OPTION DESCRIPTION AU Policies As Shown Herein Except As listed Below: 0 0 Bind TRIA Terrorism Coverage As Quoted For the Following Policies: Both Excess Liability Policies This proposal is an outline of the coverages proposed by the respective insurers based on the information provided by your company. It does not include all the terms, coverages, exclusions, limitations or conditions of the actual contract language. The policies themselves must be read for those details. Policy forms for your reference will be made available upon request. I have reviewed and accept the policies and disclosures as outlined in this proposal with the changes or choices shown above. Signature City Administrator/City Clerk 7/21/04 Title Date City of Vernon PAGE = 13 = The proposal is an outline of the coverages proposed by the insurers, It does not include all the terms, coverages, exclusions, limitations or conditions of the actual contract language. Please read your policy for these items. d r CD d 'a O, 0 . o -a o z o m - 7 N r �- 0, 0 — 2 (j m m D Q1 Q _ _ y m d d 3 3 Ci C O a n Q c r — m c0 to m m m G� a .�' �_? v Wco m p `D 3 m = = a �m mm CDIN _C �_ O 7 a # 2 o. m ap <0. d 1 ion n m� m�a Cl a �o %t co = d (A N 7 t0 n m m q O co n m W m # m. o `c 01 O W W W W A A A A A A a (DOCA C? 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C a N `G (D (D y 3 3 to y C N a. 0 m y m 0 F 0 a. d S W 3 y 0 � cDi m ca u Vi Q Cl., C y_ O 3 y 3 M v 0 3 y 0 0 0 a a. 0 y 0 -w M -i r m I� IN v o DO f 4- m W D cn m v O z O O 0 O T m m v m v r D n m 9 m z n O CA D r C m N W C N z m N z 0 O r. m W D m v O z J O O .n D z z C D r m -i D m r O CD N Named Insured City f Vernon 4305 Santa Fe Avenue Vernon, CA 90058 Coverages Certified Terrorism Non -Certified Terrorism Date: June 21, 2004 POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE Producer Global Special Risks 2700 Post Oak Blvd. Houston, TX 77056 Limits of Liability $ 21,200,000 $ 21,200,000 per occurrence/annual aggregate You are hereby notified that under the Terrorism Risk Insurance Act of 2002, effective November 26, 2002, that you now have a right to purchase insurance coverage for losses arising out of acts of terrorism, as defined in Section 102(1) of the Act The term "act of terrorism" means any act that is certified by the Secretary of the Treasury, in concurrence with the Secretary of State, and the Attorney General of the United States —to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of an air carrier or vessel or the premises of a United States mission; and to have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest, as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Coverage under your existing policy may be affected as follows: YOU SHOULD KNOW THAT COVERAGE PROVIDED BY THIS POLICY FOR LOSSES CAUSED BY CERTIFIED ACTS OF TERRORISM IS PARTIALLY REIMBURSED BY THE UNITED STATES UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. UNDER THIS FORMULA, THE UNITED STATES PAYS 90% OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. PHN PR SL 08/03 SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: LLOYD'S OF LONDON 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE" INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILL NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. Your Signature Bruce V. Malkenhorst Your Name - Printed D-1 FORM (1/1999) July 21, 2004 Date City Administrator/City Clerk Your Title or Interest SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: ARCH SPECIALTY INSURANCE COMPANY 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE" INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILL NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. Your Signature Bruce V. Malkenhorst Your Name - Printed D-1 FORM (1/1999) July 21, 2004 Date City Administrator/City Clerk Your Title or Interest SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: GULF UNDERWRITERS INSURANCE COMPANY 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE" INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILD. NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. v Jul 21 y 2004 Your Signature Date Bruce V. Malkenhorst City Administrator/City Clerk Your Name - Printed Your Title or Interest D-1 FORM (1/1999) SELECTION OR REJECTION OF TERRORISM INSURANCE COVERAGE IF YOU ELECT TO PURCHASE COVERAGE FOR ACTS OF TERRORISM, AS DEFINED IN THE ACT, AND YOU FAIL TO PAY THE PREMIUM IN FULL STATED BELOW, YOUR POLICY WILL BE CANCELLED FOR NONPAYMENT OF PREMIUM IN ACCORDANCE WITH STATE LAW. SUBJECT TO THE TERMS, CONDITIONS AND LIMITATIONS OF YOUR POLICY, ANY COVERAGE MANDATED BY APPLICABLE STANDARD FIRE POLICY LAWS OR WORKERS COMPENSATION LAWS IN YOUR STATE WILL NOT BE AFFECTED BY YOUR REJECTION BELOW OF COVERAGE FOR TERRORIST ACTS, AS DEFINED IN THE ACT. I hereby elect to purchase full coverage for acts of terrorism, as defined in the Act. (Certified Terrorism) ifor a premium of $5,525 plus any appiicabie surcharges, taxes or fees. I understand that I must also purchase limited coverage (see the Limits of Liability on the preceding page) for acts of terrorism outside the scope of the Act (Non -Certified Terrorism) for a premium of $ 975. My total premium for both Certified Terrorism and Non -Certified Terrorism coverage is $ 6,500. In addition, I acknowledge that my decision to accept and purchase full coverage for Certified Terrorism, shall govern throughout the term of the policy. I hereby reject the offer to purchase full coverage for acts of terrorism, as defined in the Act (Certified Terrorism), and I understand that a sublimit of $2,500,000 per occurrence/annual aggregate applicable to both Certified Terrorism and Non - Certified Terrorism coverages will be automatically included in my policy at no additional charge. I further understand that if I reject the offer to purchase full coverage for Certified Terrorism at this time, I will have no coverage for losses arising from Certified Terrorism which exceed the sublimit in my policy nor will I have another opportunity during the term of the policy to purchase full coverage for Certified Terrorism. /A44��'Qlianz Global Risks Policyholder/Applicant's Si nature US Insurance Co 9 Insurance Company _Brure V Malkanhorst Print Name Policy Number July 21, 2004 Date PLEASE RETURN THIS SIGNED DISCLOSURE NOTICE TO YOUR BROKER OR AGENT Nothing in this letter should be construed as legal advice to you. Consult your attorney and/or broker or agent to evaluate the terms of this offer. PHN PR SL 08/03 SUPPORTING DOCUMENTS CITY ATTORNEY'S OFFICE �/ INTER -DEPARTMENT MEMORANDUM DATE: July 22, 2004 TO: Bruce V. Malkenhorst, City Administrator/City Clerk FROM: Eric T. Fresch, City Attorney RE: Commercial Insurance Program: Property Policy (Including Earthquake and Equipment Breakdown) and Excess Liability Policies Dear Bruce: I recommend the City purchase a Property Policy (including earthquake and equipment breakdown) and Excess Liability Policies through its broker, Arthur J. Gallagher & Co., for the period July 1, 2004 to July 1, 2005. The annual premium and fees for these policies are approximately $446,644.00. Because it was necessary to act quickly in this matter to protect the City's interests as the existing policies expired on June 30, 2004, you executed the Statement of Values, Proposal Acceptance, Policy Disclosure Form and Surplus Lines Notices (SLA D-1 Forms) on behalf of the City on July 21, 2004, and wire transferred premium and fee payments of $158,332.38 on July 1 and $288,311.63 on July 20, 2004, subject to ratification by the City Council. I further recommend that you be authorized to execute any other documents necessary to put these insurance policies in place. I look forward to discussing this matter with you at your earliest convenience. EF: j 1 Attachments S n + n N O O (7 0 O 'p O m m O -• N _ -' r -� T _ _ _ Dii 0 T m Q C) C U D ai y a co m m J 3 (i 0 n mc fD (D FA m (D� O W CD- n !O 7 2 ro°' mm °° po y ng° l<o %< c J O mO O ( C] o 7 0 A a m (D 7 m j CO `Vmit n G (D Q o� 0 CD OA W CO W C,O (A.) A C.) 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O i r C. v a O O I W n m N m � O N ( m J -4 cn W ca CA w w mm iA m N N in cn j j A N C4 W O) Named Insured City f Vernon 4305 Santa Fe Avenue Vernon, CA 90058 Coverages Certified Terrorism Non -Certified Terrorism Date: June 21, 2004 POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE Producer Global Special Risks 2700 Post Oak Blvd. Houston, TX 77056 Limits of Liabilitv $ 21,200,000 $ 21,200,000 per occurrence/annual aggregate You are hereby notified that under the Terrorism Risk Insurance Act of 2002, effective November 26, 2002, that you now have a right to purchase insurance coverage for losses arising out of acts of terrorism, as defined in Section 102(1) of the Act. The term "act of terrorism" means any act that is certified by the Secretary of the Treasury, in concurrence with the Secretary of State, and the Attorney General of the United States —to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of an air carrier or vessel or the premises of a United States mission; and to have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest, as part of, an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Coverage under your existing policy may be affected as follows: YOU SHOULD KNOW THAT COVERAGE PROVIDED BY THIS POLICY FOR LOSSES CAUSED BY CERTIFIED ACTS OF TERRORISM IS PARTIALLY REIMBURSED BY THE UNITED STATES UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. UNDER THIS FORMULA, THE UNITED STATES PAYS 90% OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. PHN PR SL 08/03 SELECTION OR REJECTION OF TERRORISM INSURANCE COVERAGE IF YOU ELECT TO PURCHASE COVERAGE FOR ACTS OF TERRORISM, AS DEFINED IN THE ACT, AND YOU FAIL TO PAY THE PREMIUM IN FULL STATED BELOW, YOUR POLICY WILL BE CANCELLED FOR NONPAYMENT OF PREMIUM IN ACCORDANCE WITH STATE LAW. SUBJECT TO THE TERMS, CONDITIONS AND LIMITATIONS OF YOUR POLICY, ANY COVERAGE MANDATED BY APPLICABLE STANDARD FIRE POLICY LAWS OR WORKERS COMPENSATION LAWS IN YOUR STATE WILL NOT BE AFFECTED BY YOUR REJECTION BELOW OF COVERAGE FOR TERRORIST ACTS, AS DEFINED IN THE ACT. I hereby elect to purchase full coverage for acts of terrorism, as defined in the Act. (Certified Terrorism) for a premium of $5,525 plus any appiicaoie surcharges, taxes or fees. I understand that I must also purchase limited coverage (see the Limits of Liability on the preceding page) for acts of terrorism outside the scope of the Act (Non -Certified Terrorism) for a premium of $ 975. My total premium for both Certified Terrorism and Non -Certified Terrorism coverage is $ 6,500. In addition, I acknowledge that my decision to accept and purchase full coverage for Certified Terrorism, shall govern throughout the term of the policy. I hereby reject the offer to purchase full coverage for acts of terrorism, as defined in the Act (Certified Terrorism), and I understand that a sublimit of $2,500,000 per occurrence/annual aggregate applicable to both Certified Terrorism and Non - Certified Terrorism coverages will be automatically included in my policy at no additional charge. I further understand that if I reject the offer to purchase full coverage for Certified Terrorism at this time, I will have no coverage for losses arising from Certified Terrorism which exceed the sublimit in my policy nor will I have another opportunity during the term of the policy to purchase full coverage for Certified Terrorism. k1lianz Global Risks US Insurance Co Policyholder/Applicant's Signature Insurance Company Bruce V Malkenhorst Print Name Policy Number July 21, 2004 Date PLEASE RETURN THIS SIGNED DISCLOSURE NOTICE TO YOUR BROKER OR AGENT Nothing in this letter should be construed as legal advice to you. Consult your attorney and/or broker or agent to evaluate the terms of this offer. PHN PR SL 08/03 PROPOSAL ACCEPTANCE POLICY OPTIONS: YES NO OPTION DESCRIPTION Bind All Policies As Shown Herein Except As Listed Below: 7-0 0 i Bind TRIA Terrorism Coverage As Quoted For the Following Policies: Both Excess Liability Policies This proposal is an outline of the coverages proposed by the respective insurers based on the information provided by ybur company. It does not include all the terms, coverages, exclusions, limitations or conditions of the actual contract language. The policies themselves must be read for those details. Policy forms for your reference will be made available upon request. have reviewed and accept the policies and disclosures as outlined in this proposal with the changes or choices shown above. d Signature City of Vernon City Administrator/City Clerk 7/21/04 Title Date PAGE = 11 = The proposal is an outline of the coverages proposed by the insurers, It does not include all the terms, coverages, exclusions, limitations or conditions of the actual contract language. Please read your policy for these items. SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: LLOYD'S OF LONDON 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE" INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILL NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. Your Signature Bruce V. Malkenhorst Your Name - Printed D-1 FORM (1/1999) July 21, 2004 Date City Administrator/City Clerk Your Title or Interest SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: ARCH SPECIALTY INSURANCE COMPANY 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE" INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILD NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. Your Signature Bruce V. Malkenhorst Your Name - Printed D-1 FORM (1/1999) July 21, 2004 Date City Administrator/City Clerk Your Title or Interest r SURPLUS LINES NOTICE INSURED: CITY OF VERNON CARRIER: GULF UNDERWRITERS INSURANCE COMPANY 1. THE INSURANCE POLICY THAT YOU HAVE PURCHASED IS BEING ISSUED BY AN INSURER THAT IS NOT LICENSED BY THE STATE OF CALIFORNIA. THESE COMPANIES ARE CALLED "NON -ADMITTED" OR "SURPLUS LINE INSURERS. 2. THE INSURER IS NOT SUBJECT TO THE FINANCIAL SOLVENCY REGULATION AND ENFORCEMENT WHICH APPLIES TO CALIFORNIA LICENSED INSURERS. 3. THE INSURER DOES NOT PARTICIPATE IN ANY OF THE INSURANCE GUARANTEE FUNDS CREATED BY CALIFORNIA LAW. THEREFORE, THESE FUNDS WILL NOT PAY YOUR CLAIMS OR PROTECT YOUR ASSETS IF THE INSURER BECOMES INSOLVENT AND IS UNABLE TO MAKE PAYMENTS AS PROMISED. 4. CALIFORNIA MAINTAINS A LIST OF ELIGIBLE SURPLUS LINES INSURERS APPROVED BY THE INSURANCE COMMISSIONER. ASK YOUR AGENT OR BROKER IF THE INSURER IS ON THAT LIST. 5. FOR ADDITIONAL INFORMATION ABOUT THE INSURER YOU SHOULD ASK QUESTIONS OF YOUR INSURANCE AGENT, BROKER OR "SURPLUS LINE" BROKER OR CONTACT THE CALIFORNIA DEPARTMENT OF INSURANCE AT THE FOLLOWING TOLL -FREE TELEPHONE NUMBER: 1-800-927-4357. Your Signature Bruce V. Malkenhorst Your Name - Printed D-1 FORM (1/1999) July 21, 2004 Date City Administrator/City Clerk Your Title or Interest