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Res 2010-067
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Res 2010-067
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Last modified
12/28/2010 10:49:32 AM
Creation date
5/13/2010 3:48:08 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2010-67
Date
5/4/2010
Volume Book
185
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Transvortation <br />Your Caterpillar plan will pay for round -trip transportation of covered damaged equipment to and from your Caterpillar <br />dealer's repair facility. up to $2.500 limit. <br />Rental <br />The plan allows for rental costs up to $2.500 that you incur to rent similar equipment following a covered loss. You are <br />automatically protected with up to $100,000 of coverage for damage to the similar equipment you rent. <br />Claims <br />In the event of a total loss. the policy will pay the greatest of the following: <br />- The payoff value of the loan on the damaged parts or equipment as of the date of loss <br />- The actual cash value of that covered property: or <br />- The cost of replacing that property with property of like kind and quality <br />The policy will pay 10% of scheduled loss. up to a $10.000 maximum for debris removal. <br />The policy will pay fire department service fees up to $5.000. <br />Deductible <br />$1,000 Construction and Agricultural Equipment Deductibles: <br />$5,000 deductible all logging Equipment <br />Customer Service <br />If you have any questions or need additional details. see your Authorized Cat Dealer or call Cat Insurance toll free at <br />1- 800 - 2484228. You ma} also e -mail Cat Insurance at Cat.lnsurance�a,cat.com. <br />POLICYHOLDER DISCLOSURE <br />NOTICE OF TERRORISM RISK INSURANCE ACT OF 2002 <br />(as extended by the Terrorism Risk Insurance Extension Act of 2005. and as amended in 2007) <br />You are hereby notified that under the Terrorism Risk Insurance Act, as amended in 2007, the definition of act of <br />terrorism has changed. As defined in Section 102(1) of the Act: The term "act of terrorism" means any act that is <br />certified by the Secretary of the Treasury — in concurrence with the Secretary of State, and the Attorney General of the <br />United States — to be an act of terrorism: to be a violent act or an act that is dangerous to human life, proper Ey. or <br />infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air <br />carriers or vessels or the premises of a United States mission: and to have been committed by an individual or <br />individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect <br />the conduct of the United States Government by coercion. <br />Under your coverage, any losses resulting from certified acts of terrorism may he partially reimbursed by the United <br />States Government under a formula established by the Terrorism Risk Insurance Act, as amended in 2007. 1 lowever. <br />your policy may contain other exclusions, which might affect your coverage. such as an exclusion for nuclear events. <br />Under the formula. the United States Government Vreneralty reimburses 85% of covered terrorism losses exccedine the <br />statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk insurance <br />Act. as amended. contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers' liability for <br />losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar <br />year. if the aggregate insured losses for all insurers exceed $100 billion. your coverage may be reduced. <br />The portion of your premium that is amibutable to coverage for terrorist acts certified under the Act is: $ None. <br />Form No CISCICSF -31118 nearer CM, E140 3214037 09/27/2010 12.4t PMCT <br />321403716a <br />
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