San Jose Ca.Gov
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File #: 22-039    Version: 1
Type: Strategic Support Status: Agenda Ready
File created: 1/10/2022 In control: City Council
On agenda: 1/25/2022 Final action:
Title: Report on Procurement of Insurance Products for Continuation of an Owner-Controlled Insurance Program for the San Jose-Santa Clara Regional Wastewater Facility.
Attachments: 1. Memorandum, 2. TPAC Supplemental Memorandum, 1/14/2022, 3. Resolution

...Title

Report on Procurement of Insurance Products for Continuation of an Owner-Controlled Insurance Program for the San Jose-Santa Clara Regional Wastewater Facility.

...Recommendations

Adopt a resolution authorizing the Director of Finance to:

(a) Purchase insurance policies for the San José-Santa Clara Regional Wastewater Facility Capital Improvement Program with total cost not to exceed $7,221,283 including estimated insurance premiums of $4,661,872 and a total maximum deductible $2,559,411, as well as a cash collateral fund of $1,496,471 with premiums to be paid in four (4) annual installments, and subject to the annual appropriation of funds, as follows:

 (1) Federal Insurance Company: Commercial General Liability Insurance and Workers’ Compensation Insurance with a Program Agreement Endorsement stipulating terms of the cash collateral fund management;

 (2) Allied World Assurance Company, Inc.: Commercial Excess Liability Insurance;

 (3) Endurance Risk Solutions Assurance Company: Commercial Excess Liability Insurance;

 (4) Liberty Surplus Insurance Corporation: Commercial Excess Liability Insurance;

 (5) Great American Assurance Company: Commercial Excess Liability Insurance;

 (6) Westchester Surplus Lines Insurance Company: Commercial Excess Liability Insurance;

 (7) Ironshore Specialty Insurance Company: Contractors Pollution Liability Insurance;

 (8) Berkley Assurance Company: Owners Protective Professional Liability Insurance; and

(b) Either renew an existing, or secure quotes and purchase a new, Master Builder’s Risk Insurance policy with special endorsement for Flood to provide builder’s risk coverage through 2026 as necessary, with a projected $906,000 in premiums, the cost of which is included in the estimated insurance premiums above.

CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Finance/Environmental Services)