INSURANCEAPPROVED

Ramapo RLDC AgendaPacket Regular Meeting 2026-05-27

Palms Issues 2026-27 Management Liability Policy

$13,872.00 premium (total policy cost $14,842.20 including taxes and fees)Town of Ramapo Housing AuthorityPALMS INSURANCE COMPANY LTDMay 27, 2026

Trusted by teams at

Description

Palms Insurance Company Ltd. issued a surplus-lines non-profit management and organization liability (D&O/EPL) policy to Ramapo Local Development Corporation for 06/07/2026–06/07/2027. The policy carries a $1,000,000 limit with a $75,000 retention and a gross premium of $13,872.00, with total cost including taxes and fees of $14,842.20.

Contract Details

Contract Amount

$13,872.00 premium (total policy cost $14,842.20 including taxes and fees)

Vendor

PALMS INSURANCE COMPANY LTD

Agency

Town of Ramapo Housing Authority, NY

Contract Type

INSURANCE

Document Date

May 27, 2026

Contract Term

June 7, 2026 to June 7, 2027

Renewal Date

2027-06-07

Renewal Info

One-year non-profit management liability policy (D&O/EPL) effective 06/07/2026–06/07/2027 with optional one-year extended reporting period at 100% annualized premium and one-year run-off at 100% annualized premium; future renewal subject to new quotation.