...Title
Approval of Citywide Insurance Renewals.
...Recommendations
Adopt a resolution authorizing the Director of Finance to:
(a) Select and purchase City property and liability insurance policies for the period of October 1, 2020 to October 1, 2021, at a total cost not to exceed $2,896,016 as well as an 18.0% contingency for additional property or assets scheduled, subject to the appropriation of funds, with the following insurance carriers:
(1) Factory Mutual Insurance Company for Property Insurance, including Boiler & Machinery and TRIA Coverage;
(2) Beazley Syndicate 2623/623 at Lloyd’s for Terrorism Insurance;
(3) Axis Surplus Insurance Company and RSUI Indemnity Company for $15 million in excess flood insurance for locations in high and moderate hazard flood zones on a 50/50 quota share basis;
(4) Old Republic Insurance Company, for Airport Owners and Operators Liability including War Risks & Extended Perils Coverage (including Excess Automobile) and Police Aircraft Hull & Liability including War Risks & Extended Perils Coverage;
(5) Gemini Insurance Company for Auto Liability Insurance for the vehicle fleets at the Airport and Regional Wastewater Facility;
(6) Hanover Insurance Company for Auto Physical Damage for the Airport shuttle buses;
(7) QBE Specialty Insurance Company for Secondary Employment Law Enforcement Professional Liability;
(8) Hartford Life and Accident Insurance Company for Accidental Death, Accidental Dismemberment, and Paralysis Policy for the Police Air Support Unit; and
(9) Berkley Insurance Company for Government Fidelity/Crime Coverage.
(b) Select and purchase up to $4 million in Excess Auto Liability insurance for Airport fleet vehicles including Shuttle Buses for the period of October 1, 2020 to October 1, 2021, at a cost not to exceed $50,000, subject to the appropriation of funds.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Finance)