Insurance, Workers Compensation Excess Liability

This contract is for Workers' Compensation Excess Liability insurance, with HCDT Insurance Agency as the awarded vendor. The contract term is from October 1, 2022, to September 30, 2026, with an option to renew. The contract value is estimated to be around $176,207. The scope of work includes providing excess insurance for workers' compensation and employer's liability. Key points include: • The contract is for a term-based duration of 4 years • The insurance coverage is for excess workers' compensation and employer's liability • The insurer's limit of liability is $250,000 • The insured's retention is $500,000 • The estimated annual total payroll is $47,000 • The estimated annual and deposit premium is $125,559,731 • The annual minimum premium is $40,000 • The contract can be cancelled, but earned premium will be calculated short-rate subject to any applicable minimum premium • The contract is subject to audit upon expiration based on final payroll The contract is a result of a procurement process, and the award was made to HCDT Insurance Agency. The contract documents include a quotation, an order to bind, and other related documents.