HomeMy WebLinkAbout8854 - Public Liability Insurance Coverage''i
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RESOLUTION NO. 8854
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AWARDING A CONTRACT FOR
AUTOMOBILE AND COMPREHENSIVE PUBLIC LIABILITY
INSURANCE COVERAGE, AND RESCINDING RESOLUTION
NOS. 8524 AND 8624
WHEREAS, the Insurance Committee has held a number
of meetings with the City's insurance broker for the purpose
of reviewing the various proposals for renewal of the City
liability insurance for fiscal year 1976/1977; and
WHEREAS, the Insurance Committee has recommended
the following insurance companies for liability coverage
placement:
A. General Liabili
Bellefonte Insurance Company
Annual Premium $142,500
B. Broadened Liability for Cities
Covenant Mutual Ins. Company
Annual Premium 21,000
C. Paramedic Liability
Western World Insurance Company
Annual Premium 4,000
D. Automobile Liability
Fireman's Fund Insurance Company
Annual Premium 40,000
E. Umbrella Liability
Midland Insurance Company
Annual Premium 115,000
Total Annual Premium 322,500!
Estimated Annual Average Claims
And Expense Cost To City 30,000
Grand Total $352,000
WHEREAS, the City Council has considered the.recommen-
dation of the Insurance Committee and has determined that it.
would be in the best interest of the City to accept said
recommendation;
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NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach hereby accepts the recommendation
of the Insurance Committee for Automobile and Comprehensive
• Public Liability Insurance Coverage for fiscal year 1976/1977
• as set forth hereinabove;
BE IT FURTHER RESOLVED that the Mayor and City Clerk
are hereby authorized to execute any agreements necessary to
carry out the purpose of this resolution.
ADOPTED this 26th day of Jules , 1976.
ATTEST:
City Clerk
/ n CERT.F1ED AS HE O,RI . .....
CITY CLERK OF THE CITY OF N 3 G@,064
DATE:
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mayor
DDO /bc
7/13/76