3.09 3.9
INSURANCE\NYS Disability Coverage-Security Mutual-10-2-00—10-3-00
RESOLUTION AUTHORIZING MARSHALL & STERLING UPSTATE,
INC., TO INSURE THE TOWN OF QUEENSBURY'S
NEW YORK STATE DISABILITY INCOME REPLACEMENT
INSURANCE WITH ARCH INSURANCE GROUP
RESOLUTION NO.: ,2016
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, Marshall & Sterling Upstate, Inc., (Marshall & Sterling) is the Town of
Queensbury's general insurance agent, and
WHEREAS, the Town requested that Marshall & Sterling solicit for quotations from other
insurers for the Town's New York State Disability Coverage, and
WHEREAS, Marshall & Sterling has advised that Arch Insurance Group submitted the
lowest responsible proposal, and
WHEREAS, the Town Board wishes to therefore authorize the insuring of the Town's New
York State disability income replacement insurance with the Arch Insurance Group effective July 1,
2016 —June 30, 2018 as set forth in Arch Insurance Group's April 26, 2016 Proposal presented at
this meeting,
NOW, THEREFORE,BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes Marshall & Sterling
Upstate, Inc., to insure the Town of Queensbury's New York State disability income replacement
insurance with the Arch Insurance Group effective July 1, 2016—June 30, 2018 in accordance with
Arch Insurance Group's April 26, 2016 Proposal substantially in the form presented at this meeting,
and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor
and/or Town Budget Officer to execute any documentation and take any action necessary to
effectuate the terms of this Resolution.
Duly adopted this 6`h day of June,2016, by the following vote:
AYES .
NOES :
ABSENT:
� Arch Arch Accident& Health Division
300—Plaza three
Jersey City, NJ 07311
Insurance Group°
Prtpos 11 fus r
Town of Qneensb : ry
April 269 2016
Confidential 1
1-7/‘ Arch
Insurance Group®
PROPOSAL Section 3
INTRODUCTION
We are pleased to have the opportunity to present this proposal to Town of Queensbury for New York
Disability income replacement insurance.
Arch Insurance Group will provide Town of Queensbury with New York Disability benefits and services
based upon the following:
PRODUCTS
The Arch Insurance Group offers New York products on both a statutory and enriched plan basis. Arch
prides itself on product and disability market knowledge. With an underwriting team with over 75 years of
experience in disability underwriting,Arch is considered one of the true experts of New York disability
and the laws that govern them.
The"Arch Advantage"
Industry experts in disability underwriting, benefits and laws
• State-of-the-art technology allowing for expeditious processing of claims, premium payments,
state requests, etc.
• Highly competitive rates
• 100%paperless issuance of all policy and related documents
• Online, real-time access to FICA and claim reports(upon request)
4 Combined or separate billing options
:• Telephonic submission of the"first notice of claim"for rapid initiation of claims (upon request)
Full claim case management to assist claimants in returning to work
:• W2 produced at year-end and mailed to the employer for delivery to the employees.
CLAIMS
Arch Insurance Group adheres to a proactive claims handling program to help employees through what can
be a difficult time and to assist in returning to work. Our claims professionals have extensive experience
handling disability claims and are dedicated to providing customized, responsive customer service to each
insured.
Confidential 2
Arch
Insurance Group°
PROPOSAL Section 3
Arch corporate overview
ABOUT ARCH
Arch Insurance Group, a division of Arch Capital Group Ltd. (NASDAQ:ACGL), is a market-leading
specialty insurer. We provide a wide range of property,casualty,accident, sickness, and specialty
insurance for corporations, professional firms and financial institutions across the United States.
Our capabilities are powered by "Fresh. Thinking." It's a perspective that drives how we do business and
why we generate results for our clients. Specifically, our approach is anchored by:
• Specialization
• Flexibility
• Careful Assessment of Risk
• Deep Industry Expertise
Arch Insurance Group's executive offices are located at One Liberty Plaza in New York City,
administrative offices located in Jersey City,New Jersey and regional offices located in New York City,
Philadelphia, Atlanta, Chicago, Dallas and San Francisco, as well as other offices throughout the U.S.to
support our business.
Additional information can be found at www.archinsurance.com.
ARCH CAPITAL GROUP LTD.
Arch Capital Group Ltd. (Arch Capital),a Bermuda public limited liability company, writes insurance and
reinsurance on a worldwide basis through its subsidiaries in Bermuda,the United States, Europe and
Canada, with a focus on specialty lines.
ARCH INSURANCE COMPANY RATINGS
A.M.Best "A+" (Superior)—Stable
Moody's "Al" (Good)—Stable
Standard&Poor's "A+" (Strong)—Stable
Fitch Ratings "A+" (Strong)—Stable
Confidential 3
Arch
Insurance Group®
PROPOSAL Section 3
Statutory DBL
Waiting Period
All employees: Seven Days Sickness
Seven Days Accident
Weekly Benefit Percentage
All employees: 50%of Covered Weekly Salary
Weekly Maximum Benefit
$170.00
Maximum Weekly Duration
Twenty-six weeks within twelve consecutive months
New York Disability Rate
$.33 /340 CP TWO YEAR GUARANTEE—Statutory DBL
Estimated Annual Premium:
$7,103 TWO YEAR RATE—Statutory DBL
Savings on Premium:
$8,760—TWO YEAR RATE
Based upon 193 Covered Lives and$2,367,616 in annual covered payroll
RATE GUARANTEE PERIOD:
JULY 1,2016 TO JUNE 30,2018—TWO YEAR
QUOTE RELEASE DATE: April 26,2016
RATE EXPIRATION DATE: June 13,2016
Confidential 4
Nr„Arch
Insurance Group°
PROPOSAL Section 3
Arch Accident& Health has an entrepreneurial approach to business, with a client centric focus of
providing technical product expertise to deliver innovative market solutions. We believe these qualities
will allow us to develop an unparalleled disability program for you.
• Industry experts in disability underwriting, benefits and laws
• State-of-the-art technology allowing for expeditious processing of claims, premium payments,
state requests, etc.
• Highly competitive rates
• 100%paperless issuance of all policy and related documents
• Combined or separate billing options
• Telephonic submission of the"first notice of claim"for rapid initiation of claims (upon request)
• Full claim case management to assist claimants in returning to work
• W2 produced at year-end and mailed to the employer for delivery to the employees.
• Online employer access to FICA and detailed claim reports(upon request)
We are pleased to have the opportunity to propose our unique disability solution to you.
Confidential 5