Updates to SDPAA Underwriting and Coverage Documents for 2016 By Kristina Peterson, Director of Underwriting, SDPAA 2016 began with exciting updates for the South Dakota Public Assurance Alliance. We updated our underwriting rating system and rewrote our liability coverage document. With the completion of these developments, we are able to provide SDPAA Members with a more tailored service, simpler renewal process, and broader coverages, all while maintaining SDPAA’s history of stable, competitive rates.
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with payroll figures of $5,000,000 or less and $25,000 for Members with payroll figures of more than $5,000,000. Replacement of our traditional employee dishonesty coverage with an enhanced crime coverage program which provides a limit of $1,000,000 per occurrence with no aggregate. This broader coverage fulfills the bonding requirements required by state statutes and covers all employees and elected and appointed officials. This coverage is an opt-in coverage.
Highlights of the underwriting rating changes include: General Liability: j Consolidation of general liability and public officials coverages to one coverage. Members purchasing general liability will automatically receive public officials coverage with a default deductible of the current general liability deductible. j Cyber liability is a standard coverage to all Members. This coverage has a $350,000 annual aggregate limit per Member. Deductibles are $10,000 per Member
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Automobile Liability: j Consolidation of classifications from fourteen to seven. Law Enforcement Liability: j Consolidation of classifications from fourteen to eight. Auto Physical Damage: j Implementation of credit and debit factors based on criteria comprised of the age of the vehicle, valuation amount, and deductibles.
SOUTH DAKOTA MUNICIPALITIES
