HomeMy WebLinkAbout8624 - Excess Automobile & Comprehensive Public Liability Insurance•
RESOLUTION NO. 8624
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH AUTHORIZING THE
ACCEPTANCE OF A CONTRACT FOR EXCESS AUTO-
MOBILE AND COMPREHENSIVE PUBLIC LIABILITY
INSURANCE
WHEREAS, the Insurance Committee has conducted
numerous meetings with the City's Insurance Broker to
establish the City's insurance specifications for coverage
during the year 1975 -1976; and
WHEREAS, a bid was received by the City from the
Star Insurance Company as a primary carrier for the City's
general liability insurance policy (exclusive of automobile
liability), the Fireman's Fund Insurance Company for primary
automobile liability insurance aid the Midland Insurance
Company as an excess carrier; and
WHEREAS, said bid was accepted by the City Council
on June 23, 1975, as expressed by Resolution No. 8524; and
WHEREAS, certain premium economies were available
by rearranging the excess coverage carriers to include
Columbia Casualty Company as a first level umbrella carrier; and
WHEREAS, the City's Insurance Broker has obtained
a bid from Columbia Casualty Company to insure the City's
liability, both general public liability and automobile
liability in excess of the primary coverages heretofore pro-
vided to the limit of One Million Dollars combined single
limit; and
WHEREAS, the Midland Insurance Company will maintain
excess umbrella liability insurance exceeding the coverage
provided by Columbia Casualty Company from One Million Dollars
to Five Million Dollars;
NOW, THEREFORE, BE IT RESOLVED that the City Council
City of Newport Beach, does hereby accept the bid from
Columbia Casualty Company to serve as the umbrella carrier
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from the primary limits to One Million Dollars, and the City
Council of the City of Newport Beach does hereby reaffirm
the other insurance coverage, already in force, to wit, the
Star Insurance Company, the Fireman's Fund Insurance Company
and the Midland Insurance Company as set forth in Resolution
No. 8524 of the City of Newport Beach.
BE IT FURTHER RESOLVED that the Mayor and City
Clerk are hereby authorized and '.directed to execute a contract
in accordance with the provision of this resolution on behalf
of the City of Newport Beach.
Adopted this 28th day of October , 1975.
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