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Home My WebLink About20240019.tiffBOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW PASS -AROUND TITLE: Proposal for Insurance Renewal DEPARTMENT: Human Resources PERSON REQUESTING: Kelly Leffler/Michelle Raimer/Jill Scott DATE: 12/20/2023 Brief description of the problem/issue: Proposal of Pinnacol Assurance Workers Compensation insurance renewal for 2024. What options exist for the Board? Approve Not approve and seek other quote or options Consequences: If not approved we risk the liability of not have workers compensation insurance for 2024. Impacts: The approval of this proposal will provide workers compensation insurance for 2024. Carrier includes coverages for out-of-state employees in Arizona and Louisiana. Costs (Current Fiscal Year / Ongoing or Subsequent Fiscal Years): The proposed renewal quote is for $507,972 for a one year term. Recommendation: It is recommended to approve the proposal by having BOCC Chair sign the attached documents. Perry L. Buck, Pro-Tem Mike Freeman, Chair Scott K. James Kevin D. Ross Lori Saine Support Recommendation Schedule Place on BOCC Agenda Work Session Other/Comments: ee P6CA--te) °/..v/ 2024-0019 FE -0a3(0 PINNIICOL ASSURANCE 7501 E. Lowry Blvd. Denver, CO 80230-7006 www.pinnacol.com December 18, 2023 Weld County 1150 O Street Greeley, CO 80632 Subject: Large Deductible Collateral Requirements -2024 Renewal Policy number: 4234402 The financial collateral required to issue the policy for the deductible you have selected for policy number 4234402 is currently $250,000. The above -mentioned collateral has been agreed upon in the form of a Bond issued by an "A" rated carrier, a copy of which is attached. The Bond is subject to review at twelve months, and at least annually thereafter, and according to statutory requirements may be adjusted if indicated. If at any time the carrier that issued the Bond provides notice of cancellation to Pinnacol Assurance, Weld County will be required to secure a replacement bond in the then required amount, in a form acceptable to Pinnacol Assurance, within 30 days, or the workers' compensation insurance policy will be cancelled on 10 days' notice for failure to meet the financial requirements of the policy. These collateral requirements extend to the renewal of any policy. In addition to the above requirements, failure to provide any required collateral by a renewal date shall also result in issuance of a 30 -day notice of cancellation of the policy for failure to meet the financial requirements of the deductible policy. "Obligations," as referred to in the Bond shall be defined as Weld County obligations under the applicable workers' compensation application, policy, relevant statutes and regulations, or any other obligation of any kind or nature that is owed by Weld County to Pinnacol Assurance. Weld County agrees that Pinnacol Assurance may draw on the bond at any time(s) to satisfy any and all Obligations (in addition to its other remedies and without prejudice to its other rights against Weld County) and if so, substitute collateral in the prescribed form must be immediately provided to, at all times, maintain the collateral amounts required by this agreement. This agreement must be signed by an officer of Weld County capable of making such financial agreement. Iii S Officer Name/Title Mike Freeman, Chair Weld County Board of Commissioners Sr Underwriter, Pinnacol Assurance DEC 2 8 2023 CC: James Sumner, Pinnacol Assurance Matt Liebgott, Business Director, Pinnacol Assurance Michael Smith "7,Ziite Proposal of Insurance Weld County, Colorado P.O. Box 758 1150 "O" Street Greeley. CO 80632 Arthur J. Gallagher Risk Management Services LLC Jeff Kassal Area President Jeff_Kassal@aig.com a©ajg.com I (303) 773-9999 Presented: December 19. 2023 AJG License Nos.IL 100292093 / CA OD69293 Gallagher '"CORE 360 ajg.com ©2022 Arthur J. Gallagher & Co. All rights reserved. Insurance tar) Gallagher Risk Management Consulting Weld County, Colorado Table of Contents errit Gallagher VI CORE 360 Your Gallagher Team 3 CORE 360TM Scorecard 4 Insurance Premiums 5 Cordi:ions to Binding Coverage 8 Scope of Responsibility 8 Program Structure 9 Named Insured 10 Market Review 11 Full Program Details 12 Wo-kers Compensation - Zurich American Insurance Company 12 Wo-kers Compensation - Pinnacol Assurance Company 14 SeV-Insured Bond — Travelers Casualty & Surety Company 16 Pinna:ol Collateral Bond — Travelers Casualty & Surety Company 16 Premium Summary 17 Premium Financing 19 Payment Plans 20 Proposal Disclosures 21 Propcsal Disclosures 22 Client Signature Requirements 25 Coverages for Consideration 26 Client Authorization to Bind Coverage 27 Appendix 29 BinJaole Quotations & Compensation Disclosure Schedule 30 Claims Reporting By Policy 31 Gallagher STEP Flyer 32 Cybe- Liability eRiskHub Features 34 Business Continuity Flyer 35 Ga lajher Insight Flyer 37 Ga la gher Verify Flyer 38 2 Gallag er Insurance Risk Management I Consulting Weld County, Colorado Your Gallagher Team Gallagher **CORE 360 Your Gallagher team is a true partner. We have the expertise to understand your business and we're here to service and stay alongside you. every step of the way. lassi Public - - Primary Entity Team Team - - _ Jeff Kassal, 303-889-25301 Executive CIC, CRM, Jeff Vice ARM, Kassal@ajg.com President CPCU, RPLU Tracy 303.889.2614 Client Paladino, Service I Tracy CISR, Supervisor CLCS, Paladino@ajg.com CIC, / Executive CRM Senior 303-889-2532 Nathan Client I Kathol, Service Nathan CLCS Kathol(a�alq.com Manager Client 303.889.2574 Genevieve Antunes Service Associate I Gen Antunesaig.com Back Up Team Client 303.889.2538 Miles Service I Miles Rowan Executive Rowancaajg.com Tracy Client 303-889-2534 I Service Pettersen, Tracy Pettersen(a�a Executive CIC q.com Shannon 303-889-2540 Client I Tarufelli, Shannon Service Manager CRIS, Tarufelli@a,g.com CISR Client 303-889-2580 Noelle Service I Noelle Diak Manager Diak@ajg.com Risk Control & Claims Senior 303-808-8617IJulieFrisbey@ajg.com Risk Julie Control Frisbey Consultant 855-497-0578 GGB.NRCCLaimsCenter@ajg.com National Claims 1255-663-3224 Center Main Phone Number: S. Centennial, Syracuse 800.333.3231 or 303.773.9999 Way, Co 80111 Suite 700 6300 3 Gallagher Insurance Risk Management I Consulting CORE360TM Scorecard Your CORE360 M Executive Summary Scorecard has been developed for you to get a quick snapshot of how we've impacted your tctal cost of risk for the policies detailed in this proposal. Insurance Premiums • V"'ork Comp - 6% increase in premium due to 20% increase in payroll • 2"/0 decrease for SIR Bond due to state dropping required limit • F at Renewal for Pinnacol Collateral Bond • 8 /o for Other States Work Comp Program Structure • Irdication to change Work Comp Deductible to Per Claim from Per Occurrence • Bond Limit decreased to $1.1M on SIR Bond • Cancel/Rewrite on Pinnacol Collateral Bond to updated bond form • Review out of state exposure Uninsured & Uninsurable Losses • A :cidental Death & Dismemberment • R-eputational Risk • Crisis Response, Disaster Management Loss Prevention & Claims • Frovided claim advocacy services as needed • Frovided loss control services as needed • A ssisted in reviewing contracts as needed • A ssisted in issuing certificates as needed Weld County, Thlorado ©2022 Arthur J Celiac-ler & Co All rights reserved, Weld County, Colorado Insurance Premiums Exposures at a Glance Gallagher ICORE360 Arthur J. Gallagher & Co. (AJG) appreciates the opportunity to present this proposal for consideration for Weld County's insurance program, which renews on January 1, 2024. The premiums in the Insurance Premium section were derived from submitting the underwriting and loss data provided by Weld County to the markets. Workers Compensation - CO Strategy Following a marketing campaign in 2022. coverage was moved from Safety National to Pinnacol Assurance while changing the program from a Self -insured program to a guaranteed cost program. It was decided we would approach Pinnacol again this year to begin building a long-term relationship. Exposure, Rate & Premium Summary Estimated Payroll 2023 $123,698,813 2024 $148,653,573 % Change 20% Marketing Results Weld County provided us with estimated payroll that included a 20% increase over expiring. Despite this, we were able to negotiate with Pinnacol to provide a 6% increase over expiring. In addition, Pinnacol provided an additional indication that would change the deductible from a "per occurrence" deductible to a "per claim" deductible. This indication would cause a 10% decrease in premium when compared to the 2023 renewal. 2023 2024 Expiring Option #1 Option #2 $750,000 $750,000 $750,000 Deductible Amount Ded. Applies Per occur. Per occur. Per claim Premium* $467,723 $494,306 $421,000 *2024 Option #2 is an indication only 2023 2024 % Change Estimated Payroll $123,698,813 $148,653,573 0 20% Experience Mod 1.33 0.64 -52% Deductible $750,000 $750,000 0% Ded. applies "per claim" or "per occurrence" occurrence I occurrence Estimated Premium (Auditable) $449,440 $471,848 5% Non -Subject Premium (not auditable) $18,283 $22,458 23% TOTAL Premium $467,723 I $494,306 ' 6% Claims Handling Fee (in addition to premium) 10% losses of paid 10% losses of paid 5 Gallagher Insurance I Risk Management ( Consulting Weld County, Colorado 01. Gallagher ***CORE 360 Pinnacol Collateral Bond Strategy Travelers created a priority bond form just for Large -Deductible Pinnacol programs. Travelers anticipates being consistent with in p-oviding stable renewal terms. It was decided that we would approach Travelers again this year to secure renewal terms. However, Gallagher did work with Travelers & Pinnacol midterm to negotiate a revised bond form that would better reflect the intent of this bond. The new wording clarifies that the bond limit ($250,000) is a singular meant to remain in perpetuity through the subsequent policy terms. The old language implied that the bond limit stacked with each subsequent renewal. Exposure, Rate & Premium Summary Pinnacol Collateral Bind 2023-24 2024-25 Penal Sum $ 250,000 $ 250,000 Rate per $1000 $ 0.96 $ 0.96 $ 2,400 $ 2,400 Premium Marketing Results Pinnacol confirmec that they will not be making any adjustments to the collateral requirements. As such, we were able to secure renewal terms through Travelers with expiring rates and limit. However, as discussed in the Strategic Review meeting, we were able to cancel/rewrite the bond on the new bond form effective 1/1/2024. Other States We rkers Compensation Strategy The County advised that you had a handful of employees working outside of Colorado. Pinnacol has a partnership with Zurich to prov de separate Other States Workers Compensation policies to current Pinnacol policyholder. We placed this coverage for AZ & LA starting in December of 2022. Marketing Results As the Out of State payroll estimates remained unchanged from last year, we approach Zurich through Pinnacol for renewal terms. We did see an 8% increase this year ($51) as the filed rates in both Arizona and Louisiana saw a slight uptick this year. Outside of the premium change, all terms and conditions remain per expiring. 2023 2024 1/1/2023- 1/1/2024 1/1/2024- 1/1/2025 Policy Term Payroll - AZ $95,319 $95,319 Payroll - LA $127,093 $127.093 Included States Al LA AZ, LA . $500 $500 Minimum Premiurr $655 $706 Deposit Premiurr 6 Weld County, Colorado Self -Insured Retention Workers Compensation Bond Strategy Gallagher VICORE 360 Markets are limited for these types of bords and Travelers has been consistent with in providing stable renewal terms. It was decided that we would approach Travelers again this year to secure renewal terms. Marketing Results We provided your loss details to the State of Colorado in December 2023 to review your required bond limit for any run-off claims during your self -insured period. The State acknowledged the County has made significant strides in closing claims. As such, they authorized lowering the bond limit from $1,500,000 to $1,100,000. Lowering the limit In December of this, we had the State complete their review of your open claims. Due to a significant number of claim closures over the past year, they were willing to lower the required limit from $1,500,000 to $1,100,000. This review decreased the premium to decrease 27%. The State will continue to review annually to determine if the limit can be further lowered or the bond non -renewed. Workers Compensation Bond SIR 2023-24 2024-25 Penal Sum $ 1,500,000 $ 1,100, 000 Rate per $1000 $ 0.96 $ 0.96 $ 14,400 $ 10,560 Premium Overall Results Overall, we were able to secure a 5% increase in premium over expiring primarily due to the 6% increase on the CO Work Comp. Premium Carrier 2023 2024 % Change Notes Workers Compensation Pinnacol Assurance $467,723 $494,306 6% $750K per occ. deductible Out of State Work Comp Zurich (Pinnacol) $655 $706 8% Includes AZ & LA Pinnacol Collateral Bond Travelers Surety $2,400 $2,400 0% $250K bond limit Self -Insured Retention Bond Travelers Surety $14,400 $10,560 -27% $1.1M bond limit TOTAL Premium R $485,178 $507,972 5% 7 Gallagher Insurance' Risk Management I Consulting Weld County, Colorado Conditions to Binding Coverage Gallagher IV CORE 360 Coverage General Items ✓ Signed "Client Authorization to Bind" page (last 2 pages of this document) ✓ Signed Deductible Endorsement Worker's Compe isation ✓ Signed Collateral Agreement Pinnacol Collateral Bond ✓ Signed Bond form Self -Insured Bond ✓ Bond Rider sent to State (Gallagher will send directly to State) Scope of Responsibility Arthur J. Gallagher Risk Management Services, Inc. is responsible for the placement of Workers Compensation, Fiduciary, Drones Directors & Officers (Housing Authority) & Bonds. It is understood that any other type of exposure / coverage is either self -insured or placed by another brokerage firm other than Art-iur J. Gallagher. If you need assistance in placing other lines of coverage or covering other types of exposure 3, please contact your Arthur J. Gallagher representative. 8 Gallagher Insurance I Risk Management j Consulting Weld County, Colorado Program Structure 9 Gallagher ***CORE 360 Gallagher Insurance I Risk Management I Consulting Weld County, Colorado Named Insured eig Gallagher CORE 360 Named Insured Workers Workers Compensation Compensation Weld County X X Note: Any entity not named in this proposal may not be an insured entity. This may include affiliates. subsidiaries, LLCs, partnerships, and jo it ventures. 10 Galla. er rance J Risk Management 1 Consulting Weld County, Colorado Market Review Gallagher ***CORE 360 We approached the following carriers in an effort to provide the most comprehensive and cost effective insurance program. Line Of Coverage Insurance Company ** (AM Best Rate/Financial Strength) Market Response * Admitted * SI Workers Compensation Zurich American Insurance Corrpany (A+ XV) Pinnacol Assurance Company (A- XIV) Recommended Quote Recommended Quote Admitted Admitted *If shown as an indication, the actual premium and acceptance of the coverage requested will be determined by the market after a thorough review of the completed application. **Gallagher companies use AM Best rated insurers and the rating listed above was verified on the date the proposal document was created. Best's Credit RatingsTM reproduced herein appear under license from AM Best and do not constitute, either expressly or impliedly, an endorsement of Gallagher's service or its recommendations. AM Best is not responsible for transcription errors made in presenting Best's Credit RatingsTM. Best's Credit RatingsTM are proprietary and may not be reproduced or distributed without the express written permission of AM Best. A Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. It is not a warranty of a company's financial strength and ability to meet its obligations to policyholders. Best's Credit Ratings TM are under continuous review and subject to change and/or affirmation. For the latest Best's Credit RatingsTM and Guide to Best's Credit Ratings; visit the AM Best website at http://www.ambest.com/ratinqs. ***If coverage placed with a non -admitted carrier; it is doing business in the state as a surplus lines or non -admitted carrier, and is neither subject to the same regulations as an admitted carrier nor do they participate in any state insurance guarantee fund. Gallagher companies make no representations and warranties concerning the solvency of any carrier, nor does it make any representation or warranty concerning the rating of the carrier which may change. 11 Gallagher Insurance I Risk Management Consulting Weld County Colorado Full Program Details Workers Compensation Gallagher **CORE 360 Carrier Informati • "' Ex • irin • Renewal . -110- _ -1/1/202 wJ Policy Term 1/1/2023 - 1/1/2024 : 1/1/2024 - ." Carrier Zurich American Insurance Company Zurich American Insurance Company A.M. Best Rating A+ XV A+ XV Admitted/Non-Adrr tted Admitted Admitted Payment Plan Deposit Premium - $655.00 Deposit Premium - $706.00 Payment Method Direct Bill Direct Bill Premium & Exposures - Premium $ $706.00 Exposure / TIV $222;412 $222,412 TRIA Included Included Minimum Type I Minimum Premium Minimum Premium Minimum Amourt . $500.00 $500.00 Minimum Amourt Text Estimated Cost $655.00 $706.00 Exp =., ' -. ce Modification Factors 0.64 - AZ LA 0.64 - AZ LA State States Covered: AZ LA States Excluded: AK, CO, HI, ND, OH, WA. WY Extraterritorial Jurisdictions: All states except AK, CO, HI, ND, OH, WA, WY and those states listed in 3A Stan 4 ► c�e _. ..a. • Coverage A - Workers' Compensation Statutory Statutory Employers' by Accident Liability Limits Bodily Injury $1.000.000 - Each Accident $1,000.000 - Each Accident Employers' by Disease Liabil.ty Limits Bodily Injury $1.000.000 - Policy Limit $1.000,000 - Policy Limit Employers' by Disease Liabil ty Limits Bodily Injury $1.000.000 - Each Employee $1,000,000 - Each Employee Deductible - Worke -s Compensation None None '• (inclu•'n• gut n• rni - _ - , Voluntary Compen_.ation Longshore & Harbcr Workers' Act I Owners or Officers Bodily Injury to an Employee While Employed in Violation of Law Bodily Injury Intent Dnally Caused by Insured Federal Employers' Liability Act Assumptions under Contract 12 Gallagher Insurance I Risk Management I Consulting Weld County, Colorado Gallagher ***CORE 360 State lass Code Description Exposure Rate per $100 AZ LA 8810 8810 Clerical Office Employees NOC. Clerical Office Employees NOC. $95,319 $127,093 $0.08 $0.17 Other Significant Terms and Conditions/Restrictions: Description Total Premium Includes TRIA Premium $21 and CAT $35 13 Gal = gher Insurance I Risk Management I Consulting Weld County. Colorado Workers Compensation evil Gallagher IVCORE 360 Carrier informatics Expirin •' Renewal Quo Policy Term i 1/1/2023 - 1/1/202a 1/1/202A - /1/202 Carrier Pinnacol Assurance Company Pinnacol Assurance Company L A.M. Best Rating A- XIV A- XIV Admitted/Non-Acm tted I Admitted Admitted Payment Method Direct Bill Direct Bill Premium & Exposu s -a Premium $494,306 $467,652.00 Exposure / TIV $123,698,813 $148,653,573 TRIA Included Included Minimum Type Minimum Premium Minimum Premium Minimum Amount $500.00 $500.00 Minimum Amount Text Estimated Cost $467,723 $467,652.00 e ,,1 odification Factors 0.64 State States - NCCI Covered: CO States Excluded: OH, ND. WA. WY Extraterritorial Jurisdictions: Standard Coverages ,� Coverage A - Work ors' Compensation Statutory I Statutory Employers' by Accident Liabikt} Limits Bodily Injury $1,000,000 000 $1.000.000 Employers' by Disease Liabil.tyy Limits Bodily Injury $1,000,000 $1,000,000 Employers' by Disease Liability Limits Bodily Injury $1.000,000 $1.000.000 Deductibles/SIR - _ - Deductible - Per Occurrence $750.000 $750.000 Exclusions (including but not limite 9 Voluntary CompenEation Longshore & Harbcr Workers' Act Owners or Officers Bodily Injury to an Employee While Employed in Violation of Law Bodily Injury Intent pnally Caused by Insured Federal Employers' Liability Act Assumptions under Contract State Class Code Description Exposure Rate per $100 CO Workers Compensation $148,653.573 14 t '} Gallagher Insurance ! Risk Management I Consulting Weld County, Colorado Executive Officers/Partners: reatikw Warmaaaaaa-a-7 Weld County Other Significant Terms and Conditions/Restrictions: Description fit Gallagher **CORE 360 Excluded Total Premium Includes TRIA Premium of $7,433 and CAT $14.865 • 15 Gallagher Insurance I Risk Management I Consulting Weld County Colorado Self -Insured Bond Carrier: Travelers Casualty and Surety Company of America Eond Date: December 31, 2023 to December 31, 2024 Ai Gallagher 11.• CORE 360 Penal Sum: • $1.100,000 (amount determined by Department of Labor Workers' Compensation Division Obligee: • Colorado Department of Labor and Employment Division of Workers' Compensation Bond Provisions: • Use by the Obligee should the County fail to pay compensation to its employees and their dependents according to the terms and provision of the Colorado Workers' Compensation Act to the County's employees or to their dependents in accordance with the Act subject to provisions of Title 8 Article 40 to 47 of the Colorado Revised Statutes Cancellation Provisions: • 90 Days Written Notice to Obligee Claim Reporting Instructions: • As soon as possible Minimum Premium: • None Audit Terms: • Not Subject to Audit Pinnacol Collateral Bond Carrier: Travelers Casualty and Surety Company of America Bond Date: January 1, 2024 to January 1. 2025 Penal Sum: • $250.000 (amount determined by Department of Labor Workers' Compensation Division) Obligee: • Colorado Department of Labor and Employment Division of Workers' Compensation Bond Provisions: • Use by the Obligee should the County fail to pay compensation to its employees and their dependents according to the terms and provision of the Colorado Workers' Compensation Act to the County's employees or to their dependents in accordance with the Act subject to provisions of Title 8 Article 40 to 47 of the Colorado Revised Statutes Cancellation Provisions: • 90 Days Written Notice to Obligee Claim Reporting Instructions: • As soon as possible Minimum Premium: • None Audit Terms: • Not Subject to Audit 16 Ga agher Insurance I Risk Management I Consulting Weld County, Colorado Premium Summary The estimated program cost for the options are outlined in the following table: Gallagher g• CORE 360 me o overage g '_ _ - x p ng rrr .r,- enewa - • p ion _.. - Workers Compensation 1 Zurich American Insurance Company Zurich American Insurance Company Exposure Change Change Estimated Premium Cost* (%) / ($) TIV , $655.00 $655.00 $222,412 $706.00 $706.00 $222,412 Workers Compensation Pinnacol Assurance Company Pinnacol Assurance Company $494.306.00 $494,306.00 $148,653.573 Exposure Change Change Estimated Premium Cost* (%) / ($) TIV $467.723.00 $467,723.00 $123.698,813 Travelers Casualty & Surety Company Travelers Casualty & Surety Company Self Bond -Insured Estimated Cost* Change Change Exposure Premium ($) r/o) / TIV $14,400.00 $14,400.00 $1,500,000 $10,560.00 $10,560.00 $1,100,000 Travelers Casualty & Surety Company Travelers Casualty & Surety Company Pinnacol Collateral Bond Estimated Cost* Change Change Exposure Premium ($) (%) / TIV $2,400.00 $2,400.00 $250,000 $2,400.00 $2,400.00 $250,000 Total Program Cost $485,178 $507,972 17 ft) Gallagher Insurance I Risk Management I Consulting Weld County Colorado *Estimated Cost includes all taxes. fees, surcharges and TRIA premium (if applicable) Quote from Zurich 4rrerican Insurance Company (Zurich Insurance Group Ltd) is valid unt 11/1/2024 Quote from Pinnacol Assurance Company (Pinnacol Assurance Company) is valid unti 1/1/2024 18 4011. Gallagher ***CORE 360 Premiums are due and payable as billed and may be financed, subject to acceptance by an approved finance company. Following acceptance, completion (and signature) of a premium finance agreement with the specified down payment is required. Note: Unless prohibited by law, Gallagher may earn compensation for this optional value-added service. Gallagher is responsible for the placement of the following lines of coverage: Workers Compensation Workers Compensation It is understood that any other type of exposure/coverage is either self -insured or placed by another brokerage firm other than Gallagher. If you need help in placing other lines of coverage or covering other types of exposures, please contact your Gallagher representative. 40, Gallagher Insurance + Risk Management f Consulting Weld County, Colorado Premium Financing Gallagher ***CORE 360 Gallagher is pleased to offer Premium Financing for our clients. What is Premium Financing? Premium financing is a short-term loan that provides premium payment flexibility. By financing you have the option to spread out your premium payments instead of payinc in full at the time of policy purchase or renewal. Why Premium Financing May be Good for Your Business? • May improve capital and cash flow management by spreading out premium payments over the policy period. • Allows for consolidation of multiple policies into one premium finance agreement with a single monthly or quarterly payment. • Provides automated ACH options and flexible payment terms. Want to 1_earn More'? If you are interested in learning more or obtaining a quote, contact your Client Service Manager. 19 Ga agher Insurance I Risk Management J Consulting Weld County, Colorado Payment Plans .11. Gallagher ***CORE 360 Carrier / Payable Carrier Line Of Coverag Payment Schedule Direct Bill Payment Zurich American insurance Company (Zurich insurance Group Ltd) Pinnacol Assurance Company (Pinnacol Assurance Company) Workers Compensation Workers Compensation Deposit Premium - $706.00 Direct Bill Weld County, Colorado Proposal Disclosures 21 Gallagher **CORE 360 Gallagher Insurance I Risk Management J Consulting Weld County, Colorado Proposal Disclosures .11. Gallagher ***CORE 360 The following disclosu-es are hereby made a part of this proposal. °lease review these disclosures prior to signing the Client Authorization to Bind or e-mail confirmation. Proposal Disclaimer IMPORTANT: The proposal and/or any executive summaries outline certain terms and conditions of the insurance proposed by the insurers, based on the information provided by your company The insurance policies themselves must be read to fully understand the terms, coverages, exclusions, limitations and/or conditions of the actual policy contract of insurance. Policy forms will be made available upon request. We make no warranties with respect to policy limits or coverage considerations of the carrier. Compensation Discicsure 1. Gallagher Companies are primarily compensated from the usual and customary commissions. fees or, where permitted, a combination of both, for brokerage an: servicing of insurance policies, annuity contracts. guarantee contracts and surety bonds (collectively "insurance coverages") handled fcr a client's account, which may vary based on market conditions and the insurance product placed for the client. 2. In placing, renewing consulting on or servicing your insurance coverages, Gallagher companies may participate in contingent and supplemental commiss on arrangements with intermediaries and insurance companies that provide for additional compensation if certain underwriting, profitapil -y, volume or retention goals are achieved. Such goals are typically based on the total amount of certain insurance coverages placed by Gallagher with the insurance company, not or an individual policy basis. As a result, Gallagher may be considered to have an incentive to place your insurance coverages with a particular insurance company. If you do not wish to have your commercial insurance placement included in consideration for additional compensation. contact your producer or service team for an Opt -out form. 3. Gallagher Companies may receive investment income on fiduciary funds temporarily held by them, or from obtaining or generating premium finance quotes, unless prohibited by law. 4. Gallagher Companies may also access or have an ownership interest in other facilities, including wholesalers. reinsurance intermediaries, captive managers, unc 3rwriting managers and others that act as intermedianes for both Gallagher and other brokers in the insurance marketplace some of which may earn and retain customary brokerage commission and fees for their work. If you have specific questions about any compensation received by Gallagher and its affiliates in relation to your insurance placements, please contact your Gallagher representative for more details. TRIA/TRIPRA Disciai"ier If this proposal contains options to purchase TRIA/TRIPRA coverage. the proposed TRIA/TRIPRA program may not cover all terrorism losses. While the amendments to TRIA eliminated the distinction between foreign and domestic acts of terrorism, a number of lines of coverage excluded under the amendments passed in 2005 remain excluded including commercial automobile, burglary and theft insurance; surety insurance, farm owner= multiple perils and professional liability (although directors and officers liability is specifically included). If such excluded coverages are requi-ea, we recommend that you consider purchasiig a separate terrorism policy. Please note that a separate terrorism policy for these excluded coverages may be necessary to satisfy loan covenants or other contractual obligations. TRIPRA includes a $100 billion cap on insurers' aggregate lability. TRIPRA is set to expire on December 31, 2027. There is no certainty of extension. thus the coverage provided by your insurers may or may not extend beyond December 31, 2027. In the event you have loan covenants or other contractual obligations requiring that TRIA/TRIPRA be maintained throughout :he duration of your policy period, we recommend that a separate ""Stand Alone"" terrorism policy be purchased to satisfy those obligations. 22 a• a agher Insurance 1 Risk Management I Consulting Weld County, Colorado Terms and Conditions Gallagher IV CORE 360 It is important that we clearly outline the nature of our mutual relationship. The following terms and conditions (these "Terms'') govern your relationship with Gallagher unless you have separately entered into a written services agreement with Gallagher relative to the policies and services outlined in this Proposal, in which case that services agreement will govern and control with respect to any conflicts with these Terms. These Terms will become effective upon your execution of the Client Authorization to Bind Coverage (the "CAB") included in this Proposal and shall survive for the duration of your relationship with Gallagher relative to the policies placed pursuant to the CAB or otherwise at your request. Services Gallagher will represent and assist you in all discussions and transactions with insurance companies relating to the lines of insurance coverage set forth in the CAB and any other lines of insurance coverage with which you request Gallagher's assistance. Gallagher will consult with you regarding any matters involving these or other coverages for which you have engaged Gallagher. You have the sole discretion for approving any insurance policies placed, as well as all other material decisions involving your risk management, risk transfer and/or loss prevention needs. Although you are responsible for notifying applicable insurance companies directly in connection with any claims, demands, suits, notices of potential claims or any other matters as required by the terms and conditions of your policies, Gallagher will assist you in determining applicable claim reporting requirements. Treatment of Information Gallagher understands the need to protect the confidentiality and security of your confidential and sensitive information and strives to comply with applicable data privacy and security laws Your confidential and sensitive information will be protected by Gallagher and only used to perform services for you: provided that Gallagher may disclose and transfer your information to our affiliates, agents or vendors that have a need to know such information in connection with the provision of such services (including insurance markets, as necessary, for marketing. quoting. placing and/or servicing insurance coverages). We may also disclose such information as required by applicable data protection laws or the order of any court or tribunal, subject to our providing you with prior notice as permitted by law. We will (i) implement appropriate administrative, physical and technical safeguards to protect personal information; (ii) timely report security incidents involving personal information to affected parties and/or regulatory bodies; (iii) create and maintain required policies and procedures: and (iv) comply with data subjects' rights, as applicable. To the extent applicable under associated data protection laws, you are a "business" or "controller" and Gallagher is a "service provider" or 'data processor." You will ensure that any information provided to Gallagher has been provided with any required notices and that you have obtained all required consents, if any and where required, or are otherwise authorized to transfer all information to Gallagher and enable Gallagher to process the information for the purposes described in this Proposal and as set forth in Gallaher's Privacy Policy located at https://www.a q.com/privacy-policy/. Gallagher may update its Privacy Policy from time to time and any updates will be posted to such site. Dispute Resolution Gallagher does not expect that it will ever have a formal dispute with any of its clients. However, in the event that one should arise, we should each strive to achieve a fair, expedient and efficient resolution and we'd like to clearly outline the resolution process. A. If the parties have a dispute regarding Gallagher's services or the relationship governed by this Proposal ("Dispute"), each party agrees to resolve that Dispute by mediation. If mediation fails :o resolve the Dispute, you and Gallagher agree to binding arbitration. Each party waives all rights to commence litigation in court to resolve a Dispute, and specifically waives all rights to pursue relief by class action or mass action in court or through arbitration. However, the parties do not waive the ability to seek a court order of injunction in aid of the mediation and arbitration required by these Terms. B. The party asserting a Dispute must provide a written notice ("Notice") of the claim to the other party and to the American Arbitration Association ("AAA") in accordance with its Commercial Arbitration Rules and Mediation Procedures. All Dispute resolutions will take place in Chicago, IL, unless you and Gallagher agree to another location. The parties will equally divide all costs of the mediation and arbitration proceedings and will each pay their own attorneys' fees. All matters will be before a neutral, impartial and disinterested mediator or arbitrator(s) that have at least 20 years' experience in commercial and insurance coverage disputes. C. Mediation will occur within sixty (60) days of filing the Notice with the AAA. Mediation results will be reduced to a memorandum of understanding signed by you. Gallagher and the mediator. A Dispute that is not resolved in mediation will commence to binding arbitration. For Disputes in excess of $500,000, either party may elect to have the Dispute heard by a panel of three (3) arbitrators. The award of the arbitrator(s) must be accompanied by a reasoned opinion prepared and signed by the arbitrator(s). Except as may be required by law, neither you, Gallagher, nor a mediator or arbitrator may disclose the existence. content or results of any Dispute or its dispute resolution proceeding without the prior written consent of both you and Gallagher. Electronic Delivery In lieu of receiving documents in paper format, you agree. to the fullest extent permitted by law, to accept electronic delivery of any documents that Gallagher may be required to deliver to you (including. but not limited to, insurance policies and endorsements. account statements and all 23 Gallagher Insurance f Risk Management I Consulting Weld County, Colorado .11. Gallagher ***CORE 360 other agreements, forns and communications) in connection with services provided by Gallagher. Electronic delivery of a document to you may be made via electronic mail or by other electronic means, including posting documents to a secure website. Miscellaneous Terms Gallagher is engaged .o perform services as an independent contractor and not as your employee or agent. and Gallagher will not be operating in a fiduciary capacity. Where applicable, insurance coverage placements and other services may require the payment of federal excise taxes, surplus lines taxes, stamping or other fees to the Internal Revenue Service, various State(s) departments of revenue, state regulators. boards or associations. In such cases, you wil b= responsible for the payment of the taxes and/or fees, which Gallagher will separately identify on related invoices. The Proposal and these Terms are governed by the laws of the State of Illinois. without regard to its conflict of law rules. If an arbitrator/court o: competent jurisdiction determines that any provision of these Terms is void or unenforceable. that provision will be severed, and the arbitrator/court will replace it with a valid and enforceable provision that most closely approximates the original intent, and the remainder of these Terms will remain in effect. Except to the extent it conflict with a services agreement that you may enter into with Gallagher. these Terms and the remainder of the Proposal constitute the entire agreement between you and Gallagher with respect to the subject matter of the Proposal, and supersede all prior negotiations, agreeme its and understandings as to such matters. 24 Gallagher Insurance 1 Risk Management I Consulting Weld County, Colorado Client Signature Requirements 25 Gallagher **CORE 360 Gallagher Insurance I Risk Management I Consulting Weld County, Colorado Coverages for Consideration Overview Gallagher **CORE 360 Gallagher recommends that you consider purchasing the following additional coverages for which you have exposure. A Proposal for any of -ie coverages below can be provided. • Malicious Atta _ k/Active Shooter • Pollution Please note the reccmmendations and considerations summarized in this section are not intended to identify all potential exposures. Gallacher is not an expert in all aspects of your business and assumes no responsibility to independently investigate the risks your business faces. Gallagher has relied upon the information you provided in making our insurance Proposals. If you are interested in pursuing additional coverages other than those listed above, please list the additional coverages in the Client Authorization to Bind. 26 it(Q_ejik Gallagher Insurance I Risk Management I Corsulting Weld County, Colorado Client Authorization to Bind Coverage IN Gallagher •OCORE360 After careful consideration of Gallagher's proposal dated December 19, 2023, we accept the following coverage(s). Please check the desired coverage(s) and note any coverage amendments below: Coverage/Carrier -- -- - - -- - - = TRIA ti Accept • Reject Workers Pinnacol Compensation Assurance Company - CO Included* Xl Accept • Reject Workers Compensation - Other States Included* Zurich American Insurance Company K Accept ❑ Reject Self Travelers -Insured Casualty Bond & Surety Company of America Included* Travelers Pinnacol Collateral Casualty Bond & Surety Company of America Included* X Accept ❑ Reject *For this coverage, TRIA cannot be rejected Additional Recommended Coverages Gallagher recommends that you purchase the following additional coverages for which you have exposure. By checking the box(es) below, you are requesting that Gallagher provide yo.a with a Proposal for this coverage. By not requesting a Proposal for this coverage, you assume the risk of any uncovered loss. Other Coverages to Consider Li Malicious Attack/Active Shooter n Pollution Liability The above coverage(s) does not necessarily represent the entirety of available insurance products. If you are interested in pursuing additional coverages other than those listed in the Additional Recommended Coverages, please list below: Coverage Amendments and Notes: Exposures and Values You confirm the payroll, values, schedules, and any other information pertaining to your operations. and submitted to the underwriters, were compiled from information provided by you. If no updates were provided to Gallagher. the values. exposures Weld County, Colorado Gallagher **CORE 360 and operations usec were based on the expiring policies. You acknowledge it is your responsibility to notify Gallagher of any material change in your operations or exposures. Additional Terms and Disclosures Gallagher is not an expert in all aspects of your business. Gallagher's Proposals for insurance are based upon the information concerning your h usiness that was provided to Gallagher by you. Gallagher expects the information you provide is true, correct and complete in a'1 naterial respects. Gallagher assumes no responsibility to independently investigate the risks that may be facing your business, but rather have relied upon the information you provide to Gallagher in making our insurance Proposals. Gallagher's liability tyou arising from any of Gallagher's acts or omissions will not exceed $20 million in the aggregate. The parties each will cnit► be liable for actual damages incurred by the other party, and will not be liable for any indirect, special, exemplary, consequential, reliance or punitive damages. No claim or cause of action, regardless of form (tort, contract, statutory, or otherwise), arising out of, relating to or in any way connected with the Proposal, any of Gallagher's services or your relationship with GMagher may be brought by either party any later than two (2) years after the accrual of the claim or cause of action. Gallagher has estab ished security controls to protect Client confidential information from unauthorized use or disclosure. For additional information, please review Gallagher's Privacy Policy located at https://www.a:g.com/privacy-policy/. You have read, understand and agree that the information contained in the Proposal and all documents attached to and incorporated into The Proposal, is correct and has been disclosed to you prior to authorizing Gallagher to bind coverage and/or provide services to , ou. By signing below, or authorizing Gallagher to bind your insurance coverage through email when allowed, you acknov►ledge you have reviewed and agree with terms, conditions and disclosures contained in the Proposal. By: Date: Mike F:eeman, Chair Print Name (S Jecify Title) Board of Weld County Commissioners Company Signature DEC 2 8 2023 28 Ga lagher Insurance Risk Management I Consulting Weld County, Colorado Appendix 29 el. Gallagher IVCORE 360 ci Gallagher Insurance Risk Management I Consulting Weld County, Colorado Bindable Quotations & Compensation Disclosure Schedule Client Name: Weld County, Colorado Gallagher *4,41 CORE 360 Coverage Insurance Company Wholesaler, MGA, or Intermediary Name' Est. Annual Comm. % or Premium2 Fee3 Gallagher U.S. Owned Wholesaler, MGA, or Intermediary % and/or Fee af0 Workers Compensation Workers Compensation Zurich American Insurance Company (Zurich Insurance Group Ltd) Pinnacol Assurance Company (Pinnacol Assurance Company) N/A N/A Self -Insured Bond Travelers Casualty & Surety Bond of America N/A Pinnacol Collateral Bond Travelers Casualty & Surety Bond of America N/A $706.00 $494,306.00 $10,560 $2;400 10% 10% 15% 15% 1 We were able to obtain more advantageous terms and conditions for you through an intermediary/ wholesaler. 2 If the premium is shown as an indication: The premium indicated is an estimate provided by the market. The actual premium and acceptance of the coverage requested will be determined by the market after a thorough review of the completed application. * A verbal quotation was received from this carrier. We are awaiting a quotation in writing. 3 The commission rate is a percentage of annual premium excluding taxes & fees. 30 Gallagher Insurance I Risk Management I Consulting Weld County, Colorado Claims Reporting By Policy ��►� Gallagher ***CORE 360 Immediately report all claims. Each insurer requires notice of certain types of claims depending on the potential exposure or particular injury types. It is important to thoroughly review your policy to ensure you are reporting particular incidents and claims, based upon the insurer's policy requirements. If you are using a third party administrator ("TPA"), your TPA may or may not report claims to an insurer on your behalf. Although we will assist you where requested. it is important that you understand whether your TPA will be completing this notification. Reporting Direct to Carrier [Only When Applicable] Insurer: Pinnacol Assurance Company Policy Number: Policy Term: 01/01/2024 to 01/01/2025 Insurer/TPA Name: Pinnacol Assurance Company Phone: 303.361.4000 or 800.873.7242 Fax: 303.361.5000 or 888.329.2251 Email: Web: https://www.pinnacol.com/workers- compensation/claims/reporting-an-in ury Coverage(s): Workers Compensation Insurer: Zurich American Insurance Company Policy Number: Policy Term: 01/01/2024 to 01/01/2025 Reporting to Gallagher or Assistance in Reporting Gallagher Claim Center Policy Number: Policy Term: Insurer/TPA Name: Zurich American Insurance Company Phone: 800-987-3373 Fax: 877-962-2567 Email: USZ CareCenter@Zurichna.com Web: https://www.zurichna.com/claims Phone: 855-497-0578 Fax: 225-663-3224 Email: ,ggb.nrcclaimscenter(a�ajq.com 31 Insurance J Risk Management I Consulting Reduce Your Risk and Simplify Training Safety training programs and educational materials for employees are critical for reducing accidents, increasing retention, and minimizing your total cost of risk now and in the future. Gallagher Safety Trailing Education Platform (STEP) ,s our proprietary learning management system "LMS) that supports your safety program, provides real-time access to your loss coitrol plans and keeps employees up to date with the latest safety standards. Key Benefits of Gallagher STEP • Register for up to 10 complimentary modules every year from a library of over 100 training and safety shorts. In addition, monthly bulletins are available, covering topics such as general hand environmental safety, human resources, and health and wellness • Save valuable time ey assigning b plo e training and monitoring their latest progress and competion. • Simplify the process of training to stay in compliance and avoid costly penalties. • Onboard and train an unlimited number of users while enhancing your overall risk control program. • Customize your pla:form with your company's logo, training content and modules tailored to your business, and personalized procedures and forms for an added fee. Please visit ajg.com'us/gallagher-step/ to learn more. G' STEP Gallagher Most Popular Training Modules • Sexual Harassment and Discrimination • Slip, Trip and Fall Training • Electrical Safety Training • Back Safety Training • Bloodborne Pathogens • Safe Lifting Practices • Defensive Driving Basics • Fire Prevention Basics • Personal Protective Equipment • GHS Hazard Communication .4141 Gallagher 41,0CORE 360 Gallagher CORE360' is our unique, comprehensive approach of evaluating your risk management program that leverages our analytical tools and diverse resources for custom, maximum impact on six cost drivers of your total cost of risk. Gr Gallagher Sam ale of Availa 3 e Training Modules and Safety Shorts Human Resources Training • Americans with Disabilities Act (ADA) • California Ethics • California Sexual Harassment & Discrimination — Employees (English and Spanish) • California Sexual Harassment and Discrimination —Supervisors (English and Spanish) • Connecticut Sexual Harassment Prevention and Response • Diversity • Drug -Free Workplace —Supervisor • Ethics in Action • Fair and Accurate Credit Transaction Act (FACTA) • Family Medical Leave Act (FMLA) • Interviewing Strategies • Job Applications • Maine Sexual Harassment Prevention and Response • Personnel Files • Sensitivity Basics: Creating Positive Working Relationships • Sexual Harassment and Discrimination —Employees • Sexual Harassment and Discrimination —Supervisors • New York City Sexual Harassment and Discrimination —Employees English and Spanish) • New York City Sexual Harassment and Discrimination —Supervisors ;English and Spanish) insurance Risk Management Consulting • New York State Sexual Harassment and Discrimination —Employees (English and Spanish) • New York State Sexual Harassment and Discrimination —Supervisors (English and Spanish) • Smart Hiring • Smart Risk Management —Core Principles • Theft • Unsafe Acts • Violence Prevention • Workers Compensation Essential • Workplace Investigations Basics • Wrongful Termination Safety Training • Accident Investigation Techniques • Asbestos Awareness (General Industry) • Basic Conveyor Safety • Bloodborne Pathogens (English and Spanish) • Creating a Safe Holiday Celebration • Common Fire and Life Safety Hazards • Continuity of Operations Planning • Defensive Driving —Accident Scene Management • Defensive Driving —Backing Safely, R is for Reverse • Defensive Driving Basics —Part I (English and Spanish) • Defensive Driving —Changing Lanes Safely • Defensive Driving —Driving Safely in School Zones • Defensive Driving —General Auto Risk Management • Defensive Driving —Intersections • Defensive Driving —Reducing Deer -Related Incidents • Defensive Driving —Safe Following Distance • Defensive Driving —Spring Weather Conditions • Defensive Driving —Winter Weather Conditions • Determining the Root Cause of Accidents • Disaster Planning 101 • Electrical Safety (English and Spanish) • Ladder Safety • Employee and Family Disaster Planning • Evacuation Planning and Procedures • Fire Prevention Practices (English and Spanish) • Forklift Safety Basics for General Industry • Hazard Communication (English and Spanish) • Hearing Protection • Housekeeping —Custodial. Safe Housekeeping Practices • Identifying Strain and Exertion Exposures (English and Spanish) • Lead -Based Paint • Lockdown Procedures • Lockout/Tagout (English and Spanish) • Machine Guarding (English and Spanish) • Means of Egress (English and Spanish) • Mold • Office Ergonomics Defined • Office Ergonomics —Working in Comfort • Office Workstation Safety • Office Workstation Safety for Supervisors • Personal Protective Equipment (English and Spanish) • Portable Fire Extinguishers I • Portable Fire Extinguishers II • Power Tool Safety • Preparation for Physical Activity • Preventing Back injuries (English and Spanish) • Preventing Slips, Trips and Falls (English and Spanish) • Preventing Injuries When Lifting, Moving and Transferring Residents • Safety Pays for Life • Temp Staffing Services. Employee Safety Orientation (English and Spanish) Safety Shorts Two safety shorts are considered one module selection. • Bloodborne Pathogens • Electrical Safety • Emergency Procedures • Fire Prevention and Protection • Hand and Power Tools • Hazard Communication • Housekeeping/Custodial—Before You Start • Housekeeping/Custodial—Cleaning by Hand • Housekeeping/Custodial—Emptying Trash • Housekeeping/Custodial—Mopping and Emptying Buckets • Housekeeping/Custodial—Preventing Slips. Trips and Falls • Housekeeping —General • Ladder Safety • Lockout/Tagout • Personal Protective Equipment • Safe Lifting Practices • Slip, Trip and Fall Please visit ajg.com/us/gallagher-step/ to learn more. Insurance broKerage and related services provided by Arthur J. Gallagher Risk Management :Sig vices, L LC (License Nos. 100292093 and/or 0D69293). The Gallagher Way. Since 1927. 2023 Arthur J. Gallagher & Co. All rights reserved. GGB.13r90 �, Gallagher eRiskHub® Overview and I 0gm nformation The Gallagher eRiskHubportal provides you with exclusive risk management tools and best practices to i morDve your organization's cyber risk posture. This important resource serves your cyber risk management strategies by enhancing your capabilities in cyberattack prevention, loss mitigation and C\ ber risk transfer techniques. To access the Gallagher eRiskHub° now: 1. Navigate to https://eriskhub.corr /gallagher 2. Complete the new user registration at the bottom of the page. Choose your own user ID an -1 password. The access code is 447597 3. After registering, you can access the hub immediately us rig your newly created credentials n the member login box located at the top right of the page. If you have any questions about the Gallagher eRiskHub, please reach out the eRiskHubg support staff at support@eriskhub.con Gallagher Insurance Risk Managenent Consulting Key Features of the Gallagher eRiskHub` • Risk Manager Tools —A collection of tools for risk managers including research of known breach events, information to calculate the potential cost of a breach event, sample policies, breach response planning and more. • Learning Center —An extensive collection of thought leadership articles, webinars, videos and blog posts covering everything from emerging cyber threats to data protection and more. • Security and Privacy Training —Resources for creating an effective security training program for your employees. • Strategic Third -Party Relationships and Partner Resources —Information on third -party vendors that can d5S1St your organization improve your overall cyber risk, as well as access to exclusive Gallagher discounts on tools. Gallagher's Cyber Capabilities Gallagher's Cyber practice has the expertise to deliver a full complement of cyber risk management and insurance services to help your team stay protected. We take a consultative, action -based approach to address the sophisticated and evolving nature of cyber liability to design custom solutions that meet your unique needs. For more information, please contact us. ajg.com The Gallagher Way. Since 1927. The information contained herein is offered as insurance Industry gu dance and provided as an overview of current market risks and available coverages and is intended for discussion purposes only. This publication is not intended to offer legal acvice or client-saeofic risk management advice. Any description of insurance coverages is not meant to interpret specific coverages that your company may already have in place or that may ae generally available. General insurance descriptions contained herein do not include complete Insurance policy definitions, terms, ano/or conditions, and should not be relied )r for coverage interpretation. Actual insurance policies must always be consulted for full coverage details and analysis Insurance brokerage and related services provided oy Arthur 3. Gallagher Risk Management Services. LLC. (License Nos. 100292093 and/or 0D69293). 2323 Arthur J. Gallagher & Co. G241579 Cir National Gallagher Risk Control Business Continuity and Resilience Services Businesses face so many challenges in today's marketplace that can disrupt operations or interrupt a supply chain, including: • Cyber attacks • COVID-19 • Natural disasters Having a plan in place and being prepared to successfully manage these situations should be a critical component of any operating model. The turbulence of 2020, especially the global COVID-19 pandemic, revealed to many organizations just how underprepared they are to effectively respond to and recover from major business disruptions or crises. Organizations suddenly found they had to deal with unprecedented direct and indirect challenges to their businesses, including major supply chain disruptions, sudden shifts in customer demand and increased cyberthreats since a large portion of the workforce was operating remotely. However, the incidence of these types of threats was escalating we I before COVID-19, as were threats posed by workplace violence, societal unrest and natural disasters as a result of climate change. To make matters worse, organizations are now faced with increased costs for insurance coverage as a result of a hard market. Building resilient and recoverable operations has proven to be more difficult than ever. Organizations often struggle to develop a comprehensive yet pragmatic business continuity management framework to identify, assess and manage threats/vulnerabilities. Underpreparedness has consequences. A minor incident can escalate to a major crisis that can consume an organization, and impact its brand/reputation and financial results for months, if not years. According to Oxford Metrica, "Of the companies that faced a crisis, on average, more than three-quarters experienced a 20%-30% drop in their stock price as a result of the way the incident was managed." For companies to achieve long-term resilience, they must be agile enough to respond and recover from any crisis, regardless of its nature or origin If COVID-19 taught us anything, it is that the ability to recover critical business processes builds confidence among key stakeholders such as employees, regulators, customers, investors, the media, the public and insurers. Resilient organizations manage uncertainty As a trusted partner and advisor. Gallagher's Business Continuity and Resilience Services team works with organizations to first assess their level of business resilience and then develop custom programs to improve it. We have developed business continuity, crisis management, crisis communications and supply chain risk management programs for clients in virtually every industry. • Business Continuity A business continuity play-) reduces the operational impact of an incident by directly targe ing the recovery of an organization's value drivers —those business processes that directly drive revenue and reputation —and enables 3n organization to recover more efficiently and effectively following -3 major business disruption or crisis. Crisis Management Crisis management plans prevent or mitigate risks to people. brands, reputations and financ al -esults. and provide the overarching framework for all reapons . and recovery activities within the organization. Moreover, these plans improve coordination and accelerate decision-makir g at all levels of an organization in the event of a crisis. Crisis Communication; Crisis communication plans communicate promptly. accurately and confidently to all stakeho;ders during an incident or actual crisis, and enable organizations to b2tter coordinate internal and external global communications wi:h media, employees, regulators, customers. investors and The public at large. GA) Gallagher Insurance Risk Managemneuit I Consulting AJG.com The Gallagher Way. Since 1927. Supply Chain Risk Management A supply chain risk management program will help assess and manage third -party risks and vulnerabilities to ensure that products/services continue to be delivered both during and following a major disruption. Leaders Where it Counts Gallagher was founded on a culture of ethics. service and a common interest -doing what's in our clients' best interest, not ours. That's one of the reasons why Gallagher has been named as one of the World's Most Ethical Companies" by Ethisphere for 11 consecutive years. We are proud to be the only insurance broker to receive this recognition honoring companies who understand the importance of leading, making hard but values -based decisions, and exemplifying overall commitment to integrity. N N 0 N TM WORLD'S MOST ETHICAL COMPANIES® WWW.ETHISPHERE.COM Gallagher provides risk services cCrm;:ation that is tailored to our clients' particular loss history industry risk factors, and insurance program structure, Our services.. summaries and recommendations can include claim advocacy. evaluation of loss 'Te ency and severity. loss prevention strategy. sufficiency c/ self -insured retentions risk transfer options. identification of risk exposures, and insurance coverage for particular claims Our pork can also include cote 'oration with carriers. our client's legal counsel, loss prevention or actuarial consultants We emphasise that any of the above risk services, risk management opinions, and advice provided directly to clients ear r- clients' third -party vendors, is both confidential and intended for our ;Alerts' use and not for distribution. We also only offer the advice from an insurance/risk management perspective and it is NOT legal advice is intended to supplant the advice or services provided to clients from regal coarsel and advisors We recommend that our clients seek advice from legal counsel and third - party professionals to become fully ac ised of all legal and financial implications to their businesses. Gallagher publications May contain Ur -t:5„ to non -Gallagher weasites that are created and controlled by other organizations. We claim no responsibility for the content of any linked website, co arty link contained therein. the inclusion of any rink doe= eat Imply endorsement by Gallagher, as we have no responsibility for information referenced in material owned and controlled by other parties Gallagher strongly encourages you to review any separate terms of si and privacy policies governing uuSP of these third party webstes and resources. "World's Most Ethical Companies' ant _ __rasonere" names and marks are registered trademarks of Ethisphere RC Arthur I Gallagfer & Co named one L :he Wortirs Most Ethical Companies' for 2022 2023 Arthur ►. Gallagher & Co I _166:3847 The Gallagher Way. Since 1927. ajg.com tit) Gallagher A Next Generation En g Insight agement Solution Gallagher Insight is a user-friendly weo portal that allows secure, real-time collaboration between you and your Gallagher team. It empowers Clients with 24/7 access to their summary insurance information and an array of materials needed to run your risk management program, all at your fingertips on any device. Gallagher Insight is a password - protected portal accessible through any browser on your mobile phone, tablet or PC. Insight offers a modern design, robust features and upgraded functionality, including: • Secure web -based document libraries for our clients • Policy and document sharing with your Gallagher account team • A private social network between your global team and ours • Stewardshio through goals, events and tasks set up by you and your Gallagher team • Access to Gallagher's resource library • Submission and tracking of service requests Insight can be accessed from any electronic device using a secure ID and password to login. bena.anajD.ata Crv;jizana :sz: •'a: t ID Cues •Prr.js I1... 01. y. k.* o 0r -'-a v !itt * .on.a•ean�•..fir.�rii. f Cenerix. ,rc.`• Gallagher Insurance Risk Management Consulting Contractual Risk Compliance cr.) Gallagher Verified Testimonial Verify` Gallagher Verify monitors expiration dates, insurance limits and other details across thousan is of COls. In addition, their team delivers a very consultative, custorr a Dproach, which has allowed Lb b significantly improve our overall ris : exposure. Cir) Gallagher Insurance Risk Management Mitigate contractual risk with confidence Consulting There is more to managing compliance than just collecting your third -party vendors' certificates. Gallagher Verify4' ensures you are tracking all the information you need to keep your company organized, compliant and properly protected. Take advantage of our intelligent technology and experienced compliance experts to gain insight into your level of risk, giving you the freedom to focus on your day-to-day operations. Protect your business from unknown risk A majority of organizations face unknown risk. In fact, research shows that most organizations average only 20% compliance for vendor insurance. Gallagher Verify limits your unknown risk and significantly improves compliance. Most companies that use Gallagher Verify average over 80% compliance.' Track more than just certificates of insurance (COIs) Our couu software has the capaoiiity to track anci verify compliance for any type of document your business is required to keep on file. These documents can include but are not limited to: W-9 forms OSHA mod rates I Background checks 1 MVRs Contracts r Certifications and licenses Gallagher Verify brings big benefits to your business • Increased profitability due to reduced internal administrative costs • Insurance consulting with a risk advisor • Reports and dashboards to manage compliance trends • Ongoing monitoring of A.M. Best insurance earner ratings and vendor compliance with A.M. Best ratings • Easy -to -use cloud software used to track and record incoming COls • Proactive compliance calls to vendors • Industry -specific software configurations 4,11. Gallagher ••• CORE 360 Learn More About CORE360` Gallagher Verify is part of Gallagher CORE360. our unique, comprehensive approach to evaluating your risk management program that leverages our analytical tools and diverse resources for custom, maximum Impact on six cost drivers of your total cost of risk. We consult with you to understand your contractual liability, and how to mitigate risks and associated costs. This will empower you to know control and minimize your total cost of risk. and improve your profitability. The Gallagher Way. Since 1927. Tiers of service tailored to the needs of your organization Tier 1 Tier 2 Gallagher Verify cloud software ✓ ✓ Dedicated implementation project managers (includes data entry and software configuration) ✓ ✓ Automated COI endorsement and document compliance verification ✓ ✓ Automated noncompliance and renewal notifications to vendors ✓ ✓ Client access to software support ✓ V Customizable daily, weekly and monthly reports, and historical compliance dashboard widgets ✓ V Risk management consulting for clients (insurance requirement exception guidance) Cutgoing vendor compliance enforcement and educational phone calls (up to four phone calls per certificate of insurance) Weekly or monthly client stewardship calls with a risk advisor Unlimited phone support for vendors with insurance and contract -related questions Verified Testimonial Wnen we initially implemented Gallagher Verify, our third -party insurance compliance was less than 20%. Today. compliance is more than 90%. The aggressive tracking of insurance requirements and vendor compliance mitigates financial exposure, should there be a claim. ajg.com The information contained herein is offered as insurance Industry guidance and provided as an overview of current market risks and available coverages and is intended for discussior purposes only. This publication is not intended to offer iegal advice or client -specific risk management advice. Any description of insurance coverages is not meant to interpret specific coverages that your company may already have in place or that may be generally available. General insurance descriptions contained herein do not include complete Insurance policy definitions, terms, and/or conditions. and should not be relied on for coverage ,nterpretatton Actual insurance policies must always be consulted for full coverage details and analysis. Insurance brokerage and related services provided by Arthur J. Gallagher Risk Management Services. LLC. (License Nos. 100292093 and/or 0D692933) 2023 Arthur J Gallagher & Co. 1023931865 G,,,) Gallagher PtNNACOL ASSURANCE PROGRAM BOND Bond Number 107818758 KNOW ALL MEN BY THESE PRESENTS. That Weld County, Colorado as principal ("Principal") and Travelers Casualty and Surety Comnany'of America as surety ("Surety"), are held and firmly bound unto Prnnacol Assurance and each of its affiliates and subsidiaries, as obligee (herein collectively and individually referred to as "Obligee") for the payment of the Obligations (hereafter defined), up to the maximum penal sum of Two hundred fifty thousand dollars ($' $250,000 ) lawful money of the United States to payment of which sum, Principal and Surety hereby bind themselves, their successors and assigns, jointly and severally, firmly by these presents WHEREAS, Obligee has issued certain workers' compensation insurance policies on behalf of the Principal and has entered into certain other agreements with the Principal which are described on Exhibit A hereto and as may be amended and/or renewed from time to time (herein collectively referred to as the "Agreement(s)"), and WHEREAS, the Obligee requires security for all of the Principal's Obligations to Obligee under each of the Agreement(s) For purposes of this Bond, "Obligation(s)" is defined herein as all obligations owed by Principal to Obligee as set forth in the Agreement(s) NOW, THEREFORE, if and when the Obligations are fully and finally paid and satisfied this Bond shall be null and void, otherwise this Bond shall remain in full force and effect and Principal and Surety in any event agree as follows 1) Within ten (10) business days of Surety's receipt of a demand for payment under this Bond ("Demand"), Surety shall pay to the Obligee the amount of such Demand The Obligee's Demand to the Surety of the amount due, either as secunty or for payment or for reimbursement pursuant to the Agreement(s), shall be absolute proof of the existence and extent of the liability of the Principal and the Surety to the Obligee hereunder The Obligee may present one or more Demands at any time in its sole discretion, provided however, Surety shall not be obligated to pay an aggregate amount in excess of the penal sum of this Bond 2) In the event that Obligee shall demand the entire penal sum of the Bond under a Demand (less any previous amounts paid to Obligee under the Bond), Obligee shall hold all funds ("Bond Collateral") received as security for the Obligations and shall apply such funds to the Obligations from time to time in its sole discretion At such time as Obligee determines in its sole discretion that all of the Obligations are fully and finally paid and such payment is not subject to avoidance or other turnover, Obligee shall return to the Surety the unapplied portion of the Bond Collateral The Surety, whether in its capacity as surety or subrogee of the Principal, waives, to the fullest extent permitted by applicable law each and every right which it may have to contest Obligee's computation of the Obligations or the application of the Bond Collateral by the Obligee to the Obligations, and waives, to the fullest extent permitted by applicable law, each and every right which it may have to seek reimbursement, restitution or recovery of any Bond Collateral Obligee shall not be required to (i) segregate Bond Collateral from its general funds, (ii) hold or invest Bond Collateral in an interest -bearing or income -producing investment or (iii) account to Surety for interest or income in the event the same would be otherwise attributable to Bond Collateral The Principal shall not at any time have any rights or property interests in this Bond, the Bond Collateral or other proceeds of this Bond 3) Failure to pay or reimburse the Obligee as herein provided shall cause the Surety to be additionally liable for any and all reasonable costs and expenses, including attorney's fees and interest, incurred by the Obligee in enforcing this Bond, such liability to be in addition to other amounts due under this Bond TRV S-5295 (01-14) 4) Surety's obligations hereunder shall not be affected by (i) any failure by Obligee to assert any claim or demand or _o enforce any right or remedy against Principal or its property, or any other party liable with respect to he Obligations, (ii) any failure to perfect an interest in, or any release, impairment or other diminution of, any collateral (including, but not limited to, rights of recoupment or setoff) held by Obligee which secres any of the Obligations, (iii) any matter or proceeding arising in connection with any modification, limitation, discharge, assumption, or reinstatement with respect to any Agreement(s) or Obligations, (iv) any modification of or amendment to any Agreement(s) or Obligations without Surety's consent or prior notification provided that, the penal sum of the Bond may not be increased without the consent of Surety, however, failure to give such consent will not prevent Obligee from drawing up to the full amount of the Bond (less any previous amounts paid to Obligee under the Bond) either as security or for payment or for reimbursement under the Agreement(s), or (v) any other circumstances which might otherwise constitute a legal or equitable discharge or defense for Surety 5) This Bond shall become effective' January 1, 2024 and shall remain in full force and effect thereafter fora period of one year and will automatically extend for additional one year periods from the expiry date hereof, or any future expiration date, unless the Surety provides to the Obligee not less than ninety (90) days advance written notice of its intent not to renew this Bond or unless this Bond is earlier canceled pursuant to the following This Bond may be canceled at any time upon ninety (90) days advance written notice from Surety to Obligee Such notice shall not discharge the Surety from its obligations hereunder provided, however, the Demand of the Obligee must be received prior to the effective date of such non - renewal or cancellation It is understood and agreed that the Obligee may recover the full amount of the Bond (less any previous amounts paid to Obligee under the Bond) if the Surety cancels or nonrenews the Bond and, within thirty (30) days prior to the effective date of cancellation or nonrenewal, the Obligee has not receivec collateral acceptable to it in its sole discretion to replace the Bond 6) Any notice, Demand, certification or request for payment, given or made under this Bond shall be made in writing and shall be given by a personal delivery or expedited delivery service, postage pre -paid, addressed b the parties at the addresses specified below or to such other address as shall have been specified by such parties to each of the parties to the transactions contemplated hereby If to the Surety If to Obligee If to the Principal Travelers Casualty and Surety Company of America One Tower Square, 2S102A Hartford, CT 06183-9062 Attention Bond Claim Pinnacol Assurance 7501 E Lowry Blvd Denver, CO 80230-7006 Attention General Counsel Weld County, CO 1150O St Greeley, CO 80632 Attention Risk Management Notice given under this Bond shall be effective only when received In WITNESS THEREOF, the said _ Principal and Surety have signed and sealed this instrument on this 20th day of i December - 1, 20 23 TRV S-5295 (01-14) By (314‘4 --- Principal Weld County, Cclorado DEC 2 8 2023 Attorney -in -fact Nathan Kathol TRV S-5295 (01-14) EXHIBIT A TO BOND NUMBER "Agreement(E )" shall be defined as those Agreements listed below, including any modifications that may be made from time to time, and the insurance policies described therein: 1 Agreement(s): Pinnacol Policy Number 4234402 Date: 01/01/2024 Agreement(s): Date: Agreement(s): Date: Agreement(s): Date: 5 Agreement(s): Date: 6 Agreement(s): Date: TRV S-529 (01-14) Policy number 4234402 Name of Insured Weld County endorsement effective 01/01/2024 12 01 A M standard time (The information above is required only when this endorsement is issued subsequent to preparation of the policy) THIS ENDORSEMENT CHANGES THE POLICY, PLEASE READ IT CAREFULLY This endorsement modifies insurance provided under the following WORKERS COMPENSATION AND EMPLOYERS LIABILITY POLICY DEDUCTIBLE ENDORSEMENT (ALLOCATED EXPENSE INCLUDED WITHIN THE DEDUCTIBLE LIMIT) This deductible endorsement applies between you and us It does not affect or alter the rights of others under the policy A How this deductible Applies 1 Each Occurrence, Each Claim, Loss Conversion Factor In consideration of a reduced premium, 'You agree to reimburse us, up to the deductible amount shown below, for the total of all sums we pay for all benefits required of you by the workers compensation or occupational disease law of the states listed in the schedule of premium factors, plus b all sums you legally must pay as damages, plus c all "allocated loss adjustment expense" which arises out of any claim or suit we defend, because of (1) bodily injury by accident to your employees arising out of any one "occurrence", (2) bodily injury by disease to your employee arising out of any one "claim" In addition to the deductible amount, you agree to pay us for the cost of claim handling produced by the application of the "loss conversion factor," if one is shown in the schedule of deductibles below 2 Policy Period Aggregate If an amount is shown in the schedule of deductibles below as aggregate, the most you must reimburse us for is the sum of all benefits, damages and "allocated loss adjustment expense" because of bodily injury by' accident and bodily injury by disease for each policy period, limited to the amount of the aggregate, plus the cost of claim handling produced by the application of the "loss conversion factor", if one is shown in the schedule of deductibles You are obligated to reimburse us for losses and expenses equal to the full amount of the aggregate even if (a) this endorsement is issued for a term of less than one (1) year or (b) the policy, or this endorsement, is canceled for any reason by you or by us before the end of the policy period SCHEDULE OF DEDUCTIBLES Coverage Deductible Amount Bodily, Injury By Accident $750,000 Bodily Injury By Disease $750,000 All Covered Bodily Injury Aggregate * Unlimited Loss Conversion Factor 1 10 Basis each Occurrence each Occurrence No aggregate Limitation *Unlimited unless a percentage is entered in the blank space Page 1 of 3 WC 99 06 25A (9-2005) The premium you must pay for this endorsement will be determined by multiplying the premium factor for each state in which this deductible applies by the "adjusted standard premium" you would be required to pay in each such state if this endc rsement did not apply. The premium factors and states to which the deductible applies appear in the schedu e of premium factors below. SCHEDULE OF PREMIUM FACTORS State Colorado Premium Factor .281 B Effect of the Deduct ble on Limits of Liability With respect to the Employers Liability Insurance provided by this policy, the applicable "each employee", "each accident", "p c licy" or other similar limits of liability are reduced by the sum of all damages (other than "allocated loss adj istment expense") within the applicable deductible amount shown in the schedule of deductibles. The li rits of liability shown in item 3.B. of the Information Page of this policy include and are not in addition to the deductible amount. This provision applies whether the Employers Liability Insurance is provided by PART TWO or )x./ an endorsement to this policy. C. Definitions 1. Allocated loss adjustment expense for losses means: a. fees of attorneys or other authorized representatives where permitted for legal services, whether outside or staff representative, b. Court, alternative dispute resolution and other specific items of expense such as: medical examinations of 3 claimant to determine the extent of the carriers liability, degree of permanency or length of disability, expert medical or other testimony. autopsy, witnesses and summonses, copies of documents such as birth and death certificates., Medical or other treatment records; arbitration fees; surveillance: appeal bond costs and appeal filing fees. c. Medical ccist containment expenses incurred with respect to a particular claim, whether by an outside vendor or done in-ernally by an employee for the purposes of controlling losses, to ensure that only reasonable and necessary costs or services are paid. The expenses include: bill auditing expenses for any medical or vocational services rendered, including hospital bills inpatient or outpatient), nursing home bills, physician bills, chiropractic bills, medical equipment charges, pharmacy charges, physical therapy bills, medical or vocational rehabilitation vendor bills, hospital and other treatment utilization reviews, including pre -certification / pre- admission concurrent or retrospective reviews. Preferred provider network / organization expenses, medical fee review panel expenses. d. Expenses which are not defined as losses and are directly related to and directly allocated to the handling of a particular claim for services which are required to be performed by statute or regulation. 2. "Claim" means a demand you receive for: a) Benefits required of you by the workers compensation law; or b) damages covered by this policy; including a filing by your employee for such benefits with an agency authorized by law, or a suit or other proceeding brought by your employee for such benefits or damages. "By your employee" includes such action taken by others legally entitled to do so on his or her behal-. All claims for berefits or damages because of bodily injury by the same or related diseases to any one person will be considered as one claim when determining how the deductible amounts apply. 3. "Occurrence" means a single accident, which results in bodily injury to one or more of your employees. 4. "Loss conversic r factor" means a factor applied to all amounts included within the deductible to compensate us fir those costs of handling claims which are not included in "allocated loss adjustment expense." The oss conversion factor shall not be applied to any amounts of benefits, damages or " loss adjustment expense" that are not included within the deductible. 5. "Standard premium" means the premium calculated in accordance with Part Five -Premium of this policy, but it does not include the premium discount credit and the self -rating adjustment. "Adjusted standard Page 2 of 3 WC 99 06 25A (9-2005) premium" means the premium calculated in accordance with Part Five -Premium of this policy, including the premium discount credit and the self -rating adjustment. However; if you or we cancel the policy or this endorsement before the end of the policy period, the calculation of the aggregate which is based on "standard premium" shall be calculated in accordance with Part Five -Premium, extended to the amount that would have been charged for the original policy period. D. Conditions 1. Recovery from Others We have your rights and the rights of persons entit ed to the benefits of this insurance to recover all advances and payments, including those within the deductible amount from anyone liable for the injury. You will do everything necessary to protect those rights for us and to help us enforce them. If we recover any advance or payment made under this policy from anyone liable for the injury, the amount we recover, less expenses to recover against third parties, will first be applied to any payments made by us in excess of the deductible amount: then the remainder of that recovery, if any will be applied to reduce the deductible amount paid by you. 2 Cancellation If you fail to comply with the terms of this endorsement, we will apply the same cancellation terms of this policy as apply to non-payment of the policy premium. If we cancel In accordance with the prior paragraph, your obligation to reimburse us as required by other terms of this endorsement is not waived, and we will retain our right to enforce such deductible if necessary. 3. Your Duties a. The first Named Insured shown In the Declarations agrees and is obligated on behalf of all Named Insured(s) to reimburse us for any deductible amounts that we expend. b. Each named Insured is jointly and severally liable for all deductible amounts under this policy. 4. Other Rights and Duties (Ours and Yours). a. All other terms of this policy, not in conflict with this endorsement, apply irrespective of the application of this endorsement. b. Failure by you to reimburse us for deductible amounts due us will not affect coverage for an eligible employee under this policy. 5. Payment of Benefits Pinnacol Assurance is liable to pay workers' compensation benefits directly to the employee or the employee's dependents, in the event of death. THIS WORKERS COMPENSATION POLICY CONTAINS A DEDUCTIBLE OPTION, UNDER WHICH YOU, THE EMPLOYER, ARE REQUIRED TO REIMBURSE CERTAIN LOSSES. PLEASE READ THIS POLICY CAREFULLY AND UNDERSTAND ITS CONDITIONS THOROUGHLY PRIOR TO PURCHASING COVERAGE. Nothing herein contained shall be held tp vary, waive or extend any of the terms, conditions. agreements or limitations of this policy other than as stated above. I hereby declare that I have read, understand, and agree with all the terms, conditions and obligations of this, Large Deductible Endorsement, attached to and made a part of this policy, and the multiple billings of the deductible claim payments made until all claims are closed. Name of the Insured: Weld County By: es Mike Freeman, Chair Title:Board of WP1d County Commissioners Date: DEC 2 8 2023 Nothing herein contained shall be held to varj, waive or extend any of the terms, conditions, agreements or limitations of this policy other than as stated above. Page 3 of 3 WC 99 06 25A (9-2005) TRAVELERS Travelers Casualty and Surety Company of America Travelers Casualty and Surety Company St. Paul Fire and Marine Insurance Company POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, and St. Paul Fire and Marine Insurance Company are corporations duly organized under the laws of the State of Connecticut (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint Nathan Kathol of WOODLAND HILLS . California , their true and lawful Attorney(s)-in-Fact to sign, execute, seal and acknowledge any and all bonds, recognizances, conditional undertakings and other writings obligatory in the nature thereof on behalf of the Companies in their business of guaranteeing the fidelity of persons, guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permitted in any actions or proceedings allowed by law. IN WITNESS WHEREOF, the Companies have caused this instrument to be signed. and their corporate seals to be hereto affixed, this 21st day of April, 2021. State of Connecticut By: City of Hartford ss. Robert L. Raneenior Vice President On this the 21st day of April, 2021, before me personally appeared Robert L. Raney, who acknowledged himself to be the Senior Vice President of each of the Companies, and that he, as such, being authorized so to do, executed the foregoing instrument for the purposes therein contained by signing on behalf of said Companies by himself as a duly authorized officer. IN WITNESS WHEREOF, I hereunto set my hand and official seal. My Commission expires the 30th day of June, 2026 �12vist EO1 This Power of Attorney is granted under and by the authority of the following resolutions adopted by the Boards of Directors of each of the Companies, which resolutions are now in full force and effect, reading as follows: Anna P. Nowik, Notary Public RESOLVED, that the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President, any Vice President. any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary may appoint Attorneys -in -Fact and Agents to act for and on behalf of the Company and may give such appointee such authority as his or her certificate of authority may prescribe to sign with the Company's name and seal with the Company's seal bonds, recognizances, contracts of indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking, and any of said officers or the Board of Directors at any time may remove any such appointee and revoke the power Given him or her; and it is FURTHER RESOLVED, that the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President may delegate all or any part of the foregoing authority to one or more officers or employees of this Company, provided that each such delegation is in writing and a copy thereof is filed in the office of the Secretary; and it is FURTHER RESOLVED, that any bond. recognizance, contract of indemnity, or writing obligatory in the nature of a bond, recognizance, or conditional undertaking shall be valid and binding upon the Company when (a) signed by the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary; or (b) duly executed (under seal, if required) by one or more Attorneys -in -Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or by one or more Company officers pursuant to a written delegation of authority; and it is FURTHER RESOLVED, that the signature of each of the following officers: President, any Executive Vice President, any Senior Vice President, any Vice President, any Assistant Vice President, any Secretary, any Assistant Secretary, and the seal of the Company may be affixed by facsimile to any Power of Attorney or to any certificate relating thereto appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys -in - Fact for purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof, and any such Power of Attorney or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power so executed and certified by such facsimile signature and facsimile seal shall be valid and binding on the Company in the future with respect to any bond or understanding to which it is attached. I, Kevin E. Hughes, the undersigned, Assistant Secretary of each of the Companies, do hereby certify that the above and foregoing is a true and correct copy of the Power of Attorney executed by said Companies, which remains in full force and effect. Dated this 20th day of December , 2023 . riARTFORD, Cc)t6'f, vAt / •4 Kevin F. Hughes, Assistant Secretary To verify the authenticity of this Power of Attorney, please call us at 1-800-421-3880. 2 P/ease refer to the above -named Attorney(s)-in-Fact and the details of the bond to which this Power of Attorney is attached. Hello