Document type | proposal |
---|---|
Date | 2024-07-01 |
Source URL | https://go.boarddocs.com/wv/booneboe/Board.nsf/files/D65RLA6DC4BE/$file/Boone%20County%20BOE%202024%20proposal.pdf |
Entity | boone_county_schools (Boone Co., WV) |
Entity URL | https://www.boonecountyboe.org/en-US |
Raw filename | Boone%20County%20BOE%202024%20proposal.pdf |
Stored filename | 2024-07-01-d78e4814dd996152726bbde91fa7f7d4-proposal.txt |
Parent document: REVISED - Regular Meeting - Meeting #41-06-17-2024.pdf
encova INSURANCE 400 Quarrier St. Charleston, WV 25301 NOTICE OF DEPOSIT PREMIUM DUE Boone County Board of Education 69 Ave B Madison, WV 25130 Quote Number: Q755602-000 Renewal Of: WCN6006986 Quote Date: 05/30/2024 Deposit Due Date: 07/01/2024 Total Policy Premium: $236,199.00 Agency: Ferrell & Hill Insurance Agency LLC Phone: (304) 369-1111 Workers’ Compensation Policy Effective 07/01/2024-07/01/2025 Minimum Deposit Premium Due 07/01/2024 Total Premium: $225,079.00 Total Surcharge: $11,120.00 Total Policy Premium: $236,199.00 Quote Deposit: $35,430.00 Payments Applied to Quote: $0.00 $35,430.00 | You must pay the minimum deposit amount due to activate coverage. If you have any questions concerning account payment, please call between the hours of 8:00AM and 5:00PM Monday through Friday at 844-362-6821 or 1-304-941-1000 or visit us at www.encova.com Remove the stub below and return with your payment encova _ INSURANCE Q755602-000 07/01/2024 Quote Number: Due Date: Amount Enclosed: Boone County Board of Education 69 Ave B Madison, WV 25130 0000000000 Make checks payable to: Encova Insurance Credit Card Payments: Please pay online at www.encova.com * please do not remit cash PAYMENT MUST BE RECEIVED BY DUE DATE PTET TT EPP tt tet tt Send Payments to: Encova Insurance PO BOX 11285 CHARLESTON, WV 25339-1285 533368901 000000Q755602000 encova INSURANCE Workers’ Compensation Insurance Quote Date: 05/30/2024 Quote #: Q755602-000 Proposed Policy Period: 07/01/2024 - 07/01/2025 Installment Schedule Installments Due Date Installment Deposit Premium 07/01/2024 $35,430.00 Installment 08/21/2024 $20,077.00 Installment 09/21/2024 $20,077.00 Installment 10/21/2024 $20,077.00 Installment 11/21/2024 $20,077.00 Installment 12/21/2024 $20,077.00 Installment 01/21/2025 $20,077.00 Installment 02/21/2025 $20,077.00 Installment 03/21/2025 $20,077.00 Installment 04/21/2025 $20,077.00 Installment 05/21/2025 $20,076.00 Please note this Installment Schedule is valid for this quote as written, any change in this quote or its resulting policy is not reflected here in. A $0 fee will be charged for each installment listed above. www.encova.com QP0001 Page 2 of 7 (Ed. 7-21) encova INSURANCE Workers' Compensation Insurance Proposed Policy Period: 07/01/2024 - 07/01/2025 Quote # Q755602-000 Coverage Part I. Workers’ Compensation Insurance - Statutory Part II. Employer's Liability Limit: $1,000,000.00 Bodily injury by accident, each accident $1,000,000.00 Bodily injury by disease, policy limit $1,000,000.00 Bodily injury by disease, each employee West Virginia Broad Form Employers Liability excluded. States Covered WV www .encova.com QP0001 Page 3 of 7 (Ed. 07-21) encova INSURANCE Workers' Compensation Insurance Proposed Policy Period: 07/01/2024 - 07/01/2025 Code State: WV Description Premium Period: 07/01/2024 - 07/01/2025 Location: 33 7380 8868 9101 9812 9898 9889 0900 9740 9741 9703 9704 DRIVERS, CHAUFFEURS, MESSENGERS AND THEIR HELPERS NOC-COMMERCIAL COLLEGE: PROFESSIONAL EMPLOYEES & CLERICAL COLLEGE: ALL OTHER EMPLOYEES Employers Liability Limits Experience Modification Premium Schedule Rating Premium Total Standard Premium Expense Constant Terrorism Catastrophe (Other than certified acts of terrorism) WV Regulatory Budget Surcharge WV Fire and Casualty Surcharge Policy Estimated Annual Premium Policy Total Amount Due Quote # Q755602-000 Exposure Rate $1,359,367.00 2.41 $22,885,095.00 0.24 $1,988,007.00 2.71 0.014 1.44 1.05 0.01 0.02 0.05 0.0055 Total $32,761.00 $54,924.00 $53,875.00 $1,982.00 $63,158.00 $10,335.00 $217,035.00 $175.00 $2,623.00 $5,246.00 $11,104.00 $16.00 $225,079.00 $236,199.00 NOTE: Premium listed is an estimated annual premium based upon submitted payroll exposures. This proposal shows the premiums for the coverages described, but in no way changes or affects any terms, conditions or exclusions of the policies currently in existence. Proposed premiums shown are based on information furnished to us. If accepted, the coverages in this proposal will commence upon the expiration of any policies currently in effect. Coverage comparisons are available if desired. This proposal will expire 30 days from the quote date or at the requested effective date whichever occurs first. Please note that the premium indicated may be subject to change prior to activating coverage due to state rate approval that may occur after the quote was issued. QP0001 (Ed. 07-21) .€ncova.com Page 4 of 7 encova INSURANCE Workers' Compensation Insurance Proposed Policy Period: 07/01/2024 - 07/01/2025 Quote # Q755602-000 IMPORTANT NOTICE REGARDING EXPIRATION OF CURRENT WORKERS’ COMPENSATION INSURANCE COVERAGE. The current workers compensation insurance coverage provided by Policy Number WCN6006986 is scheduled to expire at 12:01 am on 07/01/2024 In the event this proposal is not accepted and the initial premium for a renewal policy is not received on or before 07/01/2024, your current policy will lapse (expire) at the time and on the date identified above and the lapse (expiration) of workers’ compensation insurance coverage will be reported to the appropriate state regulatory body. www .encova.com QP0001 Page 5 of 7 (Ed. 07-21) encova INSURANCE Workers' Compensation Insurance Proposed Policy Period: 07/01/2024 - 07/01/2025 Quote # Q755602-000 POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE Coverage for acts of terrorism is included in your quote You are hereby notified that under the Terrorism Risk Insurance Act, as amended in 2015, the definition of act of terrorism has changed. As defined in Section 102(1) of the Act: The term “act of terrorism” means any act or acts that are certified by the Secretary of the Treasury --in consultation with the Secretary of Homeland Security, 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 certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals 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. Under your coverage, any losses resulting from certified acts of terrorism may be partially reimbursed by the United States Government under a formula established by the Terrorism Risk Insurance Act, as amended. However, your quote may contain other exclusions which might affect your coverage, such as an exclusion for nuclear events. Under the formula, the United States Government generally reimburses 85% through 2015; 84% beginning on January 1, 2016; 83% beginning on January 1, 2017; 82% beginning on January 1, 2018; 81% beginning on January 1, 2019 and 80% beginning on January 1, 2020, of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers' liability for losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar year. If the aggregate insured losses for all insurers exceed $100 billion, your coverage may be reduced. The portion of your annual premium that is attributable to coverage for acts of terrorism is $2,623.00 , and does not include any charges for the portion of losses covered by the United States government under the Act. www .encova.com QP0001 Page 6 of 7 (Ed. 07-21) encova INSURANCE Encova 360° Team Approach Account Management: Post-sale and day-to-day servicing of all accounts Liaison for client, broker and Encova Insurance Orientation and On Boarding Account/claim reviews WC practices and RTW training Benchmarking claim performance Medical Provider Selection Assistance Vendor Management CO? CO? CO? CO? CO? CO) CO) CO? Loss Control Services: On-site Risk Assessment Documented Workplace Safety Recommendations OSHA Approved Safety Training National Safety Council Approved Training Free Access to Extensive Safety Video Library Web Based Safety Resources Industry Experienced Safety Specialists laims Services: Twenty four (24) Hour Contact Cost Reduction Programs Case Management Services Medical Cost Containment Procedure/Bill Review by Medical Specialists Return to Work/Rehabilitation Services Medical Provider Selection Assistance Vendor Management § Special Investigative/Fraud Units § Pro-Active Claims handling § Specialized Services OD CO) CO) CO? CO? CO) CO? CO MD OM) cr Litigation Management: § Reduce frequency and extent § Panel counsel § Litigation strategy § Savings to policyholders Underwriting Services: Competitive Coverage and Pricing Options Prompt Response to Coverage Questions Flexible Premium Payment Options Small and Large Deductible Programs Association Safety Discount Programs Dividend Programs Incurred Loss Retrospective Rating Programs Premium Finance Availability Specialized Team Approach CO? COD C2 CO? C2 CO? CO) CO? CO? Audit Services: On-Site Payroll and Classification Verification Telephonic and Mail Audit Options Recordkeeping Assistance Class Dispute Resolution Assistance Detailed Audit Results Statement Extensive Classification Consultation Resource Industry Experienced Premium Auditors Cr Cr Cr) Ch Cn Cn QP0001 Wwww.encova.com Page 7 of 7 (Ed. 7-21)