HomeMy WebLinkAbout21953 - RESOLUTIONS - 6/27/2007 ' RESOLUTION NO. 21953
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA AUTHORIZING DAVIS &
GRAEBER INSURANCE SERVICES, AS THE CITY'S
BROKER OF RECORD, TO PURCHASE AIRPORT
LIABILITY, AERO SQUADRON AIRCRAFT, ALL-RISK
PROPERTY, EARTHQUAKE/FLOOD (PRIMARY LEVEL),
CRIME, BOILER & MACHINERY, AND GENERAL LIABILITY
INSURANCE POLICIES EFFECTIVE JULY 1, 2007 IN AN
AMOUNT NOT TO EXCEED $593,142.
WHEREAS The City is self insured for major risk programs, such as general
liability, auto liability and workers' compensation; and
WHEREAS, annually purchases various lines of insurance coverage to
minimize the adverse effects of accidental losses and claims against the City; and
WHEREAS, the City Council appoints a broker of record to purchase
insurance policies for the City,
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Palm Springs, California authorizes Davis & Graeber Insurance Services, as the
City's Broker of Record, to purchase of the following insurance policies for Fiscal
Year 2007-08:
Coverage Premium 711/07 through 6130/08
General Liability Premium $178,422
Self-Insured Retention $400,000 Employment
Practices/$400,000 All Other
Limits $10,000,000
All-Risk Property Premium $350,481
Deductible $50,000 for Earth
Limits Movement/$100,000
Flood/$10,000 All Other Losses
$336,127,802
Boiler&Machinery Premium Coverage is included in All-Risk
and Quake/Flood Premiums
Deductible $10,000
Airport Liability Premium $53,008
Deductible $1,000
Limits $50,000,000
Aero Squadron Premium $7,699
Deductible $500 In Motion/$1,000 Static
Limits $5.000,00a
Crime Premium $3,532
Deductible $10,000/$1,000
Limits $1,000,000/$100,000/$300,000
Total Premiums $593,142
Resolution No. 21953
Page 2
ADOPTED THIS 27TH DAY OF JUNE, 2007.
David H. Readr—Oty Manager
ATTEST:
�es Thompson, City Clerk
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 21953 is a full, true and correct copy as was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on June 27, 2007 by the
following vote:
AYES: Councilmember Foat, Councilmember McCulloch, Councilmember Mills,
Mayor Pro Tern Pougnet , and Mayor Oden.
NOES: None.
ABSENT: None-
ABSTAIN: None.
es Thompson, City Clerk
ity of Palm Springs, California