HomeMy WebLinkAbout9147 - Comprehensive Public Liability Insurance CoverageRESOLUTION NO. 9147
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH AWARDING A CONTRACT
FOR COMPREHENSIVE PUBLIC LIABILITY
• INSURANCE COVERAGE TO ADMIRAL INSURANCE
COMPANY, MIDLAND INSURANCE COMPANY, AND
PURITAN INSURANCE COMPANY, APPROPRIATING
$100,000.00 TO THE NON- DEPARTMENTAL
GENERAL INSURANCE ACCOUNT AND RESCINDING
RESOLUTION NO. 8854
WHEREAS, the City of Newport Beach has sought
proposals for the provision of comprehensive public liability
insurance, including general liability, automobile liability,
paramedic coverage, broadened city coverage among the coverages
provided; and
WHEREAS, the City has received two proposals for
the provision of said comprehensive public liability insurance
coverage; and
WHEREAS, the City Council finds and determines that
it is in the best interest of the City to award the City's
comprehensive public liability insurance policy to the Admiral
Insurance Company, which insurance coverage contains a $100,000.00
self insured retention with a maximum annual stop loss self
insured retention of $400,000.00, for the annual policy period,
to Midland Insurance Company for excess coverage between $400,000.00
and $1.1 million, and to Puritan Insurance Company for excess
coverage between $1.1 million and $5.1 million; and
WHEREAS, the cost of the combined programs for Admiral
Insurance Company, Midland Insurance Company, and Puritan Insurance
Company is in line with other insurance available to the City on
the insurance market, and the entering into the proposed contract
is fair and equitable; and
• WHEREAS, the Admiral Insurance Company has required
the City to set aside $100,000.00 in a separate account, ear
marked for the payment of claims;
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach hereby accepts the proposal to
• provide comprehensive public liability insurance coverage from
Admiral Insurance Company, Midland Insurance Company and Puritan
Insurance Company, for a one year period commencing June 25,
1977 and continuing through June 24, 1978.
BE IT FURTHER RESOLVED that $100,000.00 is hereby
appropriated to the general insurance account to be used solely
for the payment of claims, payment of adjusting and legal fees
in connection with claims and related costs in conjunction with
claims against the City of Newport Beach.
BE IT FURTHER RESOLVED that Resolution No. 8854 is
hereby rescinded.
ADOPTED this 11th day of July , 1977
ATTEST:
City Clerk
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