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INTRODUCTION
The Property Insurance Program has been developed by CSRMA to provide comprehensive insurance coverages for wastewater agencies. It has a flexible format with the possibility to add coverages as desired.
"Special form" Property (formerly known as "All Risk"), Boiler & Machinery, and Flood coverages are the
core of the Property Insurance Program. All participants must purchase these coverages through the program. A master policy is issued in the name of CSRMA, with each entity receiving its own
declarations page for the coverages, limits and deductibles which apply to that entity. Each entity receives a complete copy of policy forms applicable to their selected coverages.
The Property Insurance Program master policy is effective on an annual basis commencing on July 1. Agencies may join mid-term and renew at the policy anniversary thereafter. The Participation
Agreement allows withdrawal from the program by an entity once a full program year has been completed and two months' written notice of intention to withdraw has been submitted to the Program Directors.
CSRMA has created a binder for each of its programs and one additional binder, which contains the Authority's general documents. Together, these binders are a valuable resource to your agency's
insurance program. Any questions about the Authority or its programs should be directed to the Program Directors at:
CSRMA Program Directors
c/o Driver Alliant Insurance Services, Inc.
500 Washington Street, Suite 300
San Francisco, CA 94111-2993
(415) 371-5400
(415) 597-6267 Fax
CLAIMS HANDLING PROCEDURES
General Claims Handling Procedures
The carrier should be notified of any Property of Boiler & Machinery loss against a member of the Property Insurance Program, which may exceed the deductible. All claims should be reported through
the Program Directors or Maxson Young. One of the two will forward the claim to the carrier, and an adjuster in your area will be assigned. Failure to comply with claims reporting requirements and
conditions found in the policy may result in a diminished recovery.
Each member should work cooperatively with representative of the insurer to efficiently process claims. If a Program participant is not satisfied with the service provided by the adjuster, the Program Director
should be notified so that appropriate action may be taken. The following are important items of information, which should be provided when reporting claims or occurrences:
1. The date, time and location of the event causing a loss 2. The person at the agency to contact regarding the claim 3. A description of the circumstances of the loss (fire, theft, etc) 4. Estimated amount of loss 5. A complete copy of any police or fire report
For your assistance, a
CSRMA Program Directors
Or Chris Stafford
Driver Alliant Insurance Services, Inc.
500 Washington Street, Suite 300
San Francisco, CA 94111-2933
Maxson Young
1 Sansome Street, Suite 950
San Francisco, CA 94104
Copy of Policy Document
If you would like to obtain a copy of the policy document,
please contact the Program Directors.
PROPERTY PROGRAM PARTICIPATION AGREEMENT
This document is best viewed in Acrobat format
POLICY AND PROCEDURE CSRMA Effective: July 1, 1992 Subject: Allocation of Loss Limits Issue:
This policy and procedure addresses the settlement of claims through the Property Insurance Program in the event that more than one member agency is involved in an occurrence which triggers the loss limit. Discussion: Effective July 1, 1992 the Property Insurance Program includes certain maximum amounts that the insurer is liability to pay in the event of losses. These are known as "Loss Limits." These limits are
shared by all members of the Property Insurance Program and, in the case of Flood coverage, to member agencies. In addition to a per occurrence loss limit, the flood coverage offered includes an
aggregate limit per policy period. For example, available limits could be exhausted in the following situations:
Policy: The following Loss Limit Sharing Formula (LLSF) shall govern recoveries by member agencies from the
property insurer in any case when the total payable claims of affected member agencies exceed either a per occurrence loss limit or an annual aggregate loss limit specified in the policy such that, in either
case, the insurance coverage available is insufficient to pay all payable claims of affected member agencies. Member's T.I.V.______
X Available Limits = Amount Covered
(T.I.V. refers to total insurable value, meaning limits carried by the member agencies) IIn any event where it appears that LLSF may require proration of member agencies' claims, the
Executive Board shall be, and is, empowered to instruct the insurer concerning the manner in which claims of affected member agencies shall be paid so as to achieve the objectives required by this Policy.
However, in exercising this power, the Executive Board shall give due consideration to the needs of affected member agencies for expeditious administration and prompt payment of their claims, and
payment of proper claims shall not be unduly delayed because of the application of this Policy. If in any case, a member agency should receive payments for its claim or claims which exceed, in the aggregate,
the amount to which the member agency is entitled under the LLSF, the member agency shall promptly refund the excess funds to CSRMA for redistribution in accordance with this Policy.
Memorandum #1-P
Total of affected members' T.I.V.
