HomeMy WebLinkAbout20981 - RESOLUTIONS - 6/16/2004 RESOLUTION NO. 20981 '
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING INSURANCE
RENEWALS FOR THE CITY'S AIRPORT LIABILITY,
AERO SQUADRON AIRCRAFT, ALL-RISK PROPERTY,
EARTHQUAKE/FLOOD (PRIMARY LEVEL), CRIME,
BOILER & MACHINERY, GENERAL LIABILITY, AND
AUTO PHYSICAL DAMAGE (CALEASE).
WHEREAS the City's, Airport Liability, Aero Squadron Aircraft, All-Risk Property,
Earthquake/Flood (Primary Level), Crime, Boiler & Machinery, General Liability,
Auto Physical Damage (CaLease) coverages expire at midnight on June 30, 2004;
and
WHEREAS the City of Palm Springs contracted with Davis & Graeber Insurance
Services, Inc., a California Corporation, on October 1, 2001, to perform services as
the City's Insurance Broker of Record to solicit insurance proposals from qualified
carriers upon renewal of the City's policies; and
WHEREAS the City's Insurance Broker of Record has provided insurance '
quotations for the City's Airport Liability, Aero Squadron Aircraft, All-Risk Property,
Earthquake/Flood (primary level), Crime, Boiler & Machinery, General Liability, and
Auto Physical Damage (CaLease);
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm
Springs, approve the following insurance coverage renewals:
COVERAGE FROM DAVIS&GRAEBER Premium 7/1/04 through 6/30/05
1)Quake/Flood Primary Level Premium $128,110
Deductible 5%of Values/$50,000 Minimum
Limits $2,500,000
2)All-Risk Property Ins.Premium $146,318
Plus Loss Control Audit Fee $ 2,000
Deductible $10,000
Property Schedule/Limit of coverage $208,239,694
3)Airport Liability Insurance Premium $ 50,412
Deductible $1,000
Limits $50,000,000
4)Boiler/Machinery Premium $9,500
Deductible $10,000
Limits $40,000,000
5)Crime Insurance Premium $4,198 ,
Deductible Employee theft$10,000. All others$1,000
Limits $1,000,000
6)Aero Squadron Insurance Premium $6,811
Deductible $500
Limits l $5,000,000
Resolution 20981
Page 2
CONTINUED FROM DAVIS&GRAEBER Premium 711/04 through 6130/05
' 7)General Liability Premium $202,416
Self-Insured Retention $400,000
Limits $10,000,000
8)Auto Physical Damage Premium $15,955
Deductible $10,000
CaLease Schedule/Limit of Coverage 3,798,878
ADOPTED this 16`h day of June, 2004.
AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED & APPROVED AS TO FORM "