HomeMy WebLinkAbout20805 - RESOLUTIONS - 12/17/2003 RESOLUTION NO. 20805
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING THE CITY'S EXCESS
EARTHQUAKE/FLOOD (DIFFERENCE IN CONDITION)
INSURANCE RENEWALS.
WHEREAS the City of Palm Springs contracted with Davis and Graeber Insurance
Services, Inc., a California corporation, on October 3, 2001, to perform services as
the City's Insurance Broker of Record to solicit insurance proposals from qualified
carriers upon renewal of these policies, and
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm
Springs, approve the following insurance coverage renewal:
_Earthquake/Flood(Difference in Condition) Premium 12/19/03 through 12/18/04
Excess of$35, 000,000 Net of Commission
Third Layer Excess of$50 Million $103,125.00
Insurance Company Lloyds of London
Best's Rating N/A
Limit of Coverage $50,000,000
TOTAL $103,125.00
' ADOPTED this 17th day of December, 2003.
AYES: Members Foat, Pougnet, and Mayor Oden
NOES: Members McCulloch and Mills
ABSENT: None
�Tl EST:I CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Manager =d
REVIEWED & APPROVED AS TO FORM
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