TO: Mayor Thomas J. Weisner
FROM: Alex G. Alexandrou, Chief Administrative Services Officer
DATE: December 6, 2013
SUBJECT: title
A Resolution Authorizing the Renewal Purchase of Property/Boiler-Machinery, Excess Workers Compensation, Crime and Fine Arts Insurance for the Period of December 31, 2013 through December 31, 2014.
body
PURPOSE:
To obtain approval of the renewal purchase proposal from broker Wine Sergi, Inc. for Property/Boiler-Machinery, Excess Workers Compensation, Crime and Fine Arts Insurance from Chubb Insurance Company, Great American Insurance and Safety National Insurance Company for the period of December 31, 2013 to December 31, 2014.
BACKGROUND:
The City has maintained property/boiler-machinery and excess workers compensation insurance from Chubb and Safety National since 1998 and fine arts coverage from Great American since 2011.
DISCUSSION:
The City retained the services of insurance and risk management consultant Nugent Consulting Group to issue an RFQ in August and subsequently an RFP to qualified brokers for the City's various lines of insurance coverage. Attached is the summary document of all proposals received from the four brokers selected based on the consultant's recommendation and a spreadsheet with detailed results from the submitted proposals. Based on the results of the RFP and the best coverage combinations recommended for the City's property/boiler-machinery, excess workers compensation, crime and fine arts insurance requirements, the bid proposals obtained by broker Wine Sergi are recommended.
.
IMPACT STATEMENT:
No impact.
RECOMMENDATIONS:
That the City Council approve the resolution authorizing the renewal purchase of property/boiler-machinery, excess workers compensation, crime and fine arts insurance through Chubb Insurance, Safety National Insurance and Great American companies as proposed by broker Wine Sergi inclusive of applicable premiums and broker fee of $448,615.00 per the attach...
Click here for full text