HomeMy WebLinkAboutC-2037 - Comprehensive Public Liability Insurance CoverageMILUM /GARVEY
INSURANCE BROKERS, INC.
3720 Campus Drive
Newport Beach, California 92660
Telephone (714) 549 -9952
TO: City of Newport Beach DATE: November 21, 1978
3300 Newport Boulevard
Newport Beach, California
Attention: Mr. Bill Brown
SUBJ=:
Re: Admiral Insurance Company
Certificate No. 78 HWP 3043
Comprehensive General Liability (Primary)
Dear Bill:
I have enclosed endorsement No. 6 to above contract,
which deletesPirst State Insurance Company as an
insurer under the declarations of this certificate
and Admiral Insurance Company now insures the full
100% of risk.
We had previously had both companies on the risk,
however rather than pooling the risk, Admiral is
now the only insurer.
There is no premium difference on this endorsement.
Sincerely, <)
J�- finny McCor i k
P. S. Bill, this endorsement does not in any way
change the City's self - insured retention.
cc: Mr. Virgil Howell
ENDORSEMENT NO. 6
In consideration of the premium charged, it is agreed that First State
Insurance Company is deleted from the INSURER(S) and PROPORTION(S) of
the declarations of this Certificate and the proportion of ADMIRAL IN-
SURANCE COMPANY is increased to 100 %.
It is further agreed that the.premium computation is amended as follows:
ADDITIONAL AMOUNT DUE COMPANY: NIL
Attached to and forming a part of Certificate No 78 HWP 3043
Issued To: City of Newport Beach
Insuring Company: Admiral Insurance Company
Effective Date: October 31, 1978
Dated At: Encino, California
Date: October 17, 1973 H & W INSURANCE SERVICES
BY:
PREMIUM
STAMPING
,RETURN
TAX
FEE
PREMIUM
(3.0)
(.2 %)
FIRST STATE INS. CO.
$19,470.00
X584.10
38.94
TOTAL RETURN PREMIUM:
$20,093.04
PREMIUM
STAMPING
RETURN
TAX
FEE
PREMIUM
(3.0 %)
(.2a)
ADMIRAL INS. CO.
$19,470.00
$584.10
$38.94
TOTAL ADDITIONAL PREMIUM:
$20,093.04
ADDITIONAL AMOUNT DUE COMPANY: NIL
Attached to and forming a part of Certificate No 78 HWP 3043
Issued To: City of Newport Beach
Insuring Company: Admiral Insurance Company
Effective Date: October 31, 1978
Dated At: Encino, California
Date: October 17, 1973 H & W INSURANCE SERVICES
BY:
1t
0 •
RESOLUTION NO. 9 39 1
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, FIRST
STATE INSURANCE COMPANY AND THE S AND H
INSURANCE COMPANY AND AWARDING A POLICY OF
EXCESS INSURANCE TO THE PINE TOP INSURANCE
COMPANY
WHEREAS, the City of Newport Beach has sought proposals
for the provision of comprehensive public liability insurance;
RT1_
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 accept.a $500,000.00
self- insured retention; to award a policy of insurance for
coverage of $500,000.00 over the self - insured retention to a
combination of the Admiral Insurance Company, the First State
Insurance Company, and the S and H Insurance Company; and
to award a policy of excess insurance for coverage of $4,000,000.00
over the $1,000,000.00 lower insurance to the Pine Top Insurance
Company; and
WHEREAS, the cost of the combined programs of Admiral
Insurance Company, First State Insurance Company, S and H
Insurance Company and the Pine Top 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;
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
the Admiral Insurance Company, First State Insurance Company,
S and H Insurance Company and Pine Top Insurance Company for a
h
Cl
•
one year period commencing June 25, 1978, and continuing
through June 25, 1979.
BE IT FURTHER RESOLVED that all funds set aside
for payment' of liability losses shall be set aside and
encumbered in a special fund and shall not be used for any
other municipal purpose until all incurred liability losses
are settled.
BE IT FURTHER RESOLVED that the.Mayor and City
Clerk are hereby authorized to execute any agreement that
is necessary to carry out the purpose of this Resolution.
ADOPTED this 26th day of June , 1978.
P.N"amlm
City Clerk
Mayor
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DDO /cr
6/22/78