HomeMy WebLinkAbout19823 - RESOLUTIONS - 7/5/2000 RESOLUTION NO. 19823
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING INSURANCE
RENEWALS FOR THE CITY'S GENERAL LIABILITY,
AIRPORT LIABILITY, AERO SQUADRON AIRCRAFT,
ALL-RISK PROPERTY, BOILER & MACHINERY, CRIME,
EARTHQUAKEIFLOOD (PRIMARY LEVEL) AND
WORKERS' COMPENSATION EXCESS INSURANCE.
WHEREAS the City's General Liability, Airport Liability, Aero Squadron Aircraft, All-
Risk Property, Boiler & Machinery, Crime, Earthquake/Flood (Primary Level) and
Workers' Compensation Excess Insurance coverages expired at midnight on June
30, 2000; and
WHEREAS the City of Palm Springs contracted with AON Risk Services, Inc., a
California corporation, on January 5, 2000, to perform services as the City's
Insurance Broker of Record to solicit insurance proposals from qualified carriers
upon renewal of these policies, and
WHEREAS the City of Palm Springs received insurance quotations on these
coverages on June 26, 2000.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm
Springs, approve the following insurance coverage renewals:
COVERAGE Premium 711100 through 6130/01
Net of Commission&taxes
i
Liability Premium $ 130,00
Insurance Company American Safely Insurance Group
Besr8 Rating A VII
Self-Insured Retention $ 250,OOC
Limits of Coverage $ 10 000
QuakelFlood Primary Level Premium $ 50,00
Insurance Company Affiliated FM Insurance Co.
Bests Rating A+
Deductible 5%of values=5,000 minimum
Limits $ 60 000
All-Risk Property Ins.Premium $ 68,354
Insurance Company Affiliated FM Insurance Co.
Best's Rating A+
Deductible $ 5,000
Property Schedule/Limit of Cover e $ 187 005
Airport Liability Insurance Premium $ 27,50
Insurance Company ACE U
Bests Rating A 1
Deductible $ 1,50(
Limits $ 50.000.00(
,19823
'age 2
Boiler/Machinery $ 17,27
Insurance Company Travelm
Best's Rating A'�'XV ,
Deductible 5,000/Cogen;$2,500/AII other
Limits $ 25,000,000
Crime Insurance Premium $ 3,76
Insurance Company Hartford Fire Insurance Company
Best's Rating A'r'XV
Deductible $ 1,000
Limits $ 1.000,000
Aero Squadron Insurance Premium $ 3,0
Insurance Company ACE USA
Best's Rating A I
Deductible $ 500
Limits $ 5,000000
Workers'Comp Insurance Premium $ 18,93
Insurance Company Employers Reinsurance Corp.
Best's Rating A+r'
XY
Self-Insured Retention $ 250,
Limits Stetr.
Employer Liability $ 5,000
TOTAL $ 319 96
ADOPTED this 5th day of July, 2000. '
AYES: Members Jones, Hodges, Oden and Mayor Kleindienst:
NOES: Member Reller—Spurgin
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
City Clerk $� Cityyaor ac r
REVIEWED &APPROVED AS TO FORM -
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