Document 3kp6kXv8yeDZRdnXOyqGeMxy

cc: WEF, PTM brand the brand companies, inc. April 18, 1989 Ms. J. B. Spencer Chrysler Motors Corporate Purchasing 30500 Northwestern' Farmington Hills, Michigan 48018 REFERENCE: Asbestos Specific Liability Insurance Update Dear Ms. Spencer: Recently, Brand Asbestos Control Co., Inc. (BASCO), one of The Brand Companies, submitted a bid to do the asbestos removal work at your main plant in Kenosha, Wisconsin. In cluded in our bid package was detailed information on our in surance coverages. Specifically, there was information on our asbestos specific liability insurance. On April 14, 1989, The Brand Companies' asbestos liability insurance carrier changed to National Fire & Marine Company, an A+ lx Best-rated carrier. The insurance remains written on an occurrence form, with no sunset clause. This new coverage will apply to work performed by BASCO at your Kenosha, Wisconsin facility. Attached is some pertinent information on this change. If you have any questions, or need additional information, please give me a call. Sincerely, Richard F. Rapacki Regional Sales Manager RFR/jf Attachment EDr c ^ J" j \r * 1 L_ CEiVED APR 2 1 1989 AM PM 1420 renaissance drive, park ridge, illinois 60068 (312)298-1200 lax (312) 298-1208 McGCon 200692 brand the brand companies, inc. DATE: April 1989 TO: The Brand Companies' Asbestos Abatement Clients SUBJECT: IMPROVEMENTS TO ASBESTOS LIABILITY INSURANCE PROGRAM The Brand Companies, Inc. has an asbestos liability insurance program that is unique in the asbestos abatement industry. Brand will provide insurance for our clients that is superior to coverage available elsewhere in the asbestos abatement industry. As is our practice, we will continue to name the client as an additional insured. The domestic and overseas insurance markets currently do not provide coverage of asbestos-related personal injury claims in the amount and of the quality sought by Brand's major corporate clients. For the benefit of our clients. Brand has arranged a $5 million asbestos liability insurance program with National Fire & Marine Insurance Company. This insurance is written on an occurrence form, with no sunset clause. National Fire & Marine is an A.M. Best-rated A+IX carrier, which is part of Warren Buffet's Berkshire Hathaway Insurance Group. This policy is the only one of its type underwritten by National Fire & Marine, and is the result of the company's careful study and level of satisfaction with the Brand group of companies. The following briefly outlines the policy's nature and extent, and its relationship to Brand's conventional comprenensive general liability insurance. Brand has, of course, taken out conventional broad-form comprehensive bodily injury and property damage liability policies with limits in excess of $5 million per occurrence/aggregate. Those policies, following current insurance industry practice, contain exclusions for asbestos hazard liability. The National Fire & Marine liability policy closes that gap by providing the same broad-form bodily injury and property damage liability coverage, on an occurrence-based form with no sunset clause, but without an asbestos liability exclusion. To avoid redundancy of coverage, the National Fire & Marine policy will not cover claims covered by Brand's conventional liability insurance. The end result is coverage of all third-party personal injury claims, within policy limits. In short, the National Fire & Marine insurance policy has been structured to provide Brand and our clients with meaningful protection from potential claims associated with asbestos-related diseases, which may be filed by workers, building occupants, business invitees and the general public during the decades following asbestos abatement in a client's facility. U20 renaissance drive, park ridge, Illinois 60068 1312)298-1200 lax 1312) 298-1208 McGCon 200693 The Brand Companies' Asbestos Abatement Clients Page 2 In addition to insurance coverage, Brand typically provides contractual indemnity against the consequences of its negligence, and typically bears the costs of defense against such claims. Asbestos Abatement Coverage: $5,000,000 per occurrence on an occurrence form $5,000,000 aggregate Mo sunset clause Carrier: National Fire & Marine Insurance Company c/o Alexander and Alexander 2 Embarcadero Center San Francisco, California 54111 Sample copies of Brand's certificates of insurance for asbestos abatement liability, workers' compensation/bodily injury and third-party property damage coverage are available upon request. Sincerely, Alvin K. Eaton President CERTIFICATEOFINSURANCE ----------89 5aG0uCER Alexander & Alexander of Californi^^ Two Embarcadero Center P. 0. Box 3803 San Francisco, CA 94119 (415) 434-1500 \S'.=SO THIS CERTIFICATE IS ISSUED AS A MATTER 0E INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMENO. EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. COMPANIES AFFORDING COVERAGE CCMPANV Ii letter A S I COMPANY lETTER B National Fire 4 Marine Insurance Co. The Brand Companies, Inc. Park Ridge, Illinois (and subsidiaries) ! COMPANY 1 LETTER C ! i COMPANY LETTER D j COMPANY LETTER E t [ 5 j f i \ r r. b THIS IS TO CERTIFY THAT POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOT .VITHSTANOING ANY REQUIREMENT. TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO V/H'CH THIS CERTIFICATE MAY eE ISSUED OR MAY PERTAIN. THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS. EXCLUSIONS. AND CONDITIONS OF SUCH POLICIES. T i =E Cr :*.SURA'tz -oliCy -..vasR I tvc. i vt.voc'Y- lL '..l.'iTS in thousands general liability AC'AL uELtRA-. .ABILITY AUTOMOBILE LIABILITY , a:,v p,,;o --| all CV.-NE9 AUTOS --! IC-E-.LED ^SAMPLE .1 | -=!D A^TCS ' :.V::D ijTOS ! cXCESS LIABILITY SAMPLE SAMPLE SAMPLE ". " "V.1 c.-c : ..... = :. - ::.5XE\c * ;; w-MAuc i4?j C'.C ' scl v-ZCi* -V C-.E P3SO`<i s IS IS IS IS ;t 1I s SAMPLE pp ;i I. i; t ; i liSI ! WORKERS'COMPENSATION ANO | EMPLOYERS' L!A8(LITY ; j i other ] A !(*) Asbestos Liability j SGL 820009 4/14/89 CP CpeRAT.CnSilCCAT;CNS/vE-i.ClES. h=5TRiCT:0NS/SPECial items Allocated Loss Expense Included with Policy Limit I :y:^i Until- i -s C 1 ;$ 1 , = .> l) Hi-H S'S'iSt c-> :VP'.OY`:. ^ Cancelled i 5,000 per/occ/AGG** ' L; k Certificate Holder as additional insured as respects liability arising from (The Brand Companies) performance for work described above (*). SHOULD ANY OF THE ABOVE OESCRIBEO POLICIES BE CANCELLED BEFORE THE EX PIRATION DATE THEREOF. THE ISSUING COMPANY WILL ENDEAVOR TO MAIL OAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT. BUT FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE NO OBLIGATION OR LIABILITY OP ANY KINO UPON THE COMPANY ITS AGENTS OR REPRESENTATIVES. AUTHORIZED REPRESENTATIVE Alexander 4 Alexander of California, Inc. ES":TM