Windstorm Insurance

Background
The City of Port Arthur is seeking competitive proposals for windstorm insurance for its commercial facilities. The current insurance policies are held with various carriers, including Mt. Hawley Ins. Co., Landmark American Ins. Co., Endurance American Specialty Ins. Co., Starr Surplus Lines Inc. Co., and Lloyds of London – Tokio Marine Kiln Syndicate, and are set to expire on May 1, 2025.

This request for proposals (RFP) is specifically focused on windstorm coverage.

Work Details
Proposals for windstorm insurance should include the following:

1. Limits of Liability: Per-occurrence limits based on property values as per the schedule, with alternate limits of $20,000,000 and $30,000,000 per occurrence.
2. Deductibles: Provide quotes with deductibles of 2% and 3%, with minimums of $250,000 and $1,000,000 for named storms; $25,000 for all other windstorm and hail events.
3. Extensions of Coverage: Include agreed amount coverage, replacement cost coverage for all property, and automatic additional insureds/loss payees/mortgagees coverage.
4. Exclusions: No exclusions applicable to signal lights or decorative lighting included in the insured property schedule.
5. Layered Program: Include provisions for sublimits coverage, priority of payments, quota share coverage consistency across policies, and excess coverage continuity.
6. Additional Coverage: Must cover ordinance or law A, B & C; valuable papers; sewer backup; professional fees; newly acquired property.

Period of Performance
The effective date for the new windstorm insurance policy will be May 1, 2025, with a renewal option available until May 1, 2026.

Place of Performance
The geographic location for the performance of this contract is Port Arthur, Texas.