HomeMy WebLinkAbout22534 - RESOLUTIONS - 6/17/2009 RESOLUTION NO. 22534
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AUTHORIZING KEENAN AND ASSOCIATES,
AS THE CITY'S BROKER OF RECORD, TO PURCHASE PROPERTY
LIABILITY, EXCESS EARTHQUAKE/FLOOD LIABILITY (DIFFERENCE
IN CONDITION), EXCESS LIABILITY, EXCESS WORKERS
COMPENSATION, AIRPORT OWNERS AND OPERATORS LIABILITY,
VILLAGE FEST LIABILITY, MULTI MEDIA LIABILITY, AIRCRAFT HULL
LIABILITY, AND CRIME/FIDELITY LIABILITY INSURANCE POLICIES
FROM VARIOUS CARRIERS FOR POLICY YEAR 2009-2010,
EFFECTIVE JULY 1, 2009, AND APPROVING LOSS CONTROL AND
REGULATORY COMPLIANCE SERVICES. A5862.
WHEREAS The City is self insured for major risk programs, such as
property, 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 is located in the vicinity of several known active and
potentially active earthquake faults, including the San Andreas, the San Jacinto
and the Elsinore faults; and
WHEREAS, the topography of the City makes it prone to flooding, especially
during times of heavy rainfall; and
WHEREAS, the City purchases a primary earthquake and flood insurance
policy; and
WHEREAS, the City supplements its primary insurance policy with excess
coverage to properly protect its public facilities from catastrophic loss from
earthquake or flood; and
WHEREAS, the City Council appoints a broker of record to purchase
insurance policies for the City and the City's insurance broker has solicited
proposals from various insurance companies for insurance coverage.
NOW THEREFORE THE CITY COUNCIL RESOLVES AS FOLLOWS:
SECTION 1: The City Council of the City of Palm Springs, California
authorizes Keenan & Associates, as the City's Broker of Record, to purchase the
following insurance policies for Fiscal Year 2009-10:
Resolution No. 22534
Page 2
COVERAGE: Premium FY 09-10
PROPERTY
Premium $329,000
Deductibles $250,000 for Earthquake
S100,000 Flood
$10,000 allotherl-osses
Limits $346,813,343
*TRIA(terrorism) coverage
included
DIG
(Earthquake/Flood)
Premium $238,000 (City+Airport)
Limits $10,000,000
(excess of S2.5 M)
Premium S364,000 (WWTP)
Limits $25.000.000
S80 M Runways
Premium $48,000
EXCESS LIABILITY
GL&AUTO
Premium $160,800
Self-Insured Retention $500,000 Employment
Practices, $400.000, all other
Limits $10.000,000
EXCESS
WORKERS' COMP
Premium $72,742
SIR-Police&Fire $1,000,000
SIR-allotheremployees $1.000.000
Limits $50,000 000 per occurrence
AIRPORT LIABILITY
Premium $35,381
Deductible $1,000
Limits $50,000,000
TRIA &War
VILLAGE FEST
Premium $12,210
Deductibles $1,000
Limits $1,000,000/S2,000,000
AGG/52,000,000
PR00/$100,000 FIRE
MULTI MEDIA
Premium $9,291
Deductibles S5,000
Limits s1,0c0,000
AIRCRAFT HULL
Premium $4,983
Deductible S75K hull,$100 In
Limits Motion/S500 Static
TRIA&War $5,000,000
CRIME/FIDELITY
Premium $3,583
Deductibles $10,000/$1,000
Limits 51,000,000/S100,000/S300,000
Total Premiums $1,277,990
Plus Fees and Taxes
Resolution No. 22534
Page 3
SECTION 2. A Professional Services ,A reement subject to review and
9 1
approval by the City Attorney, with Keenan and Associates to provide Lass Control
and Regulatory Compliance Services, in an amount not to exceed $74,050 is
hereby approved.
SECTION 3. The City Manager is hereby authorized to accordingly adjust
the budget and allocate the insurance expense to the appropriate enterprise and
other funds.
SECTION 4. The City Manager is hereby authorized to execute any
documents to effectuate such actions.
ADOPTED THIS 24T" DAY OF JUNE, 2009.
- David H. Ready, Ci �r er
ATTEST:
mes Thompson, City Clerk
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) $s.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 22534 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 24, 2009 by the
following vote:
AYES: Councilmember Foat, Councilmember Hutcheson, Councilmember
Weigel, and Mayor Pougnet.
NOES: Mayor Pro Tem Mills.
ABSENT: None.
ABSTAIN: None.
amesThompson, CityClerk 2ao
City of Palm Springs, California P