Lexington-Fayette Urban County Government - File #: 0636-17

• File #: 0636-17
• Version: 1
• Name: Excess Property & Casualty Insurance Renewals FY 2018
• Type: Resolution
• Status: Approved
• File created: 5/26/2017
• In control: Urban County Council
• On agenda: 6/22/2017
• Final action: 6/22/2017
• Enactment date: 6/22/2017
• Enactment #: R-389-2017
• Title: A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the proposals for FY 2018 for excess liability insurance from, and to execute any necessary contracts and documents on behalf of the Urban County Government with, the following insurance companies and/or their respective broker J. Smith Lanier & Co. - Lexington/Powell Walton Milward: aviation from Old Republic Insurance at a cost not to exceed $28,962.00; general, auto, public officials, law enforcement, and professional from Safety National Casualty Corp. at a cost not to exceed $487,973.00; property from Affiliated Factory Mutual (FM) at a cost not to exceed $318,431.15; cyber from National Union Fire Insurance Co. of Pittsburgh, PA at a cost not to exceed $28,563.00; pollution from AIG Specialty Insurance Co. at a cost not to exceed $17,912.77; and workers' compensation from Safety National Casualty Corp. at a cost not to exceed $404,958.00, all subject to sufficient funds being appropriated. [D...

Date	Ver.	Action By	Action	Result
6/22/2017	1	Urban County Council	Approved	Pass
6/15/2017	1	Urban County Council	Received First Reading
6/13/2017	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the proposals for FY 2018 for excess liability insurance from, and to execute any necessary contracts and documents on behalf of the Urban County Government with, the following insurance companies and/or their respective broker J. Smith Lanier & Co. - Lexington/Powell Walton Milward: aviation from Old Republic Insurance at a cost not to exceed $28,962.00; general, auto, public officials, law enforcement, and professional from Safety National Casualty Corp. at a cost not to exceed $487,973.00; property from Affiliated Factory Mutual (FM) at a cost not to exceed $318,431.15; cyber from National Union Fire Insurance Co. of Pittsburgh, PA at a cost not to exceed $28,563.00; pollution from AIG Specialty Insurance Co. at a cost not to exceed $17,912.77; and workers' compensation from Safety National Casualty Corp. at a cost not to exceed $404,958.00, all subject to sufficient funds being appropriated. [Div. of Risk Management, Johnston]
Summary
Authorization to renew LFUCG Excess Property & Casualty Insurance Policies for FY 2018. This Fiscal Year impact is $1,286,799.92. Funds are Budgeted. (L0636-17) (Johnston/Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: Yes, Completed by [Janet Graham, May 30, 2017]}
Risk Management: Yes, Completed by Patrick Johnston [May 24, 2017}
Fully Budgeted [select]: Yes
Account Number: 1101-XXXXXX-XXXX-73101 $946,012
1115-XXXXXX-XXXX-73101 $84,242
4002-XXXXXX-XXXX-73101 $254,381
4051-XXXXXX-XXXX-73101 $2,165
Budget for Excess Insurance is allocated across all div.s.
This Fiscal Year Impact: FY 2018 $1,286,799.92
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: FY 18 $1,414,320
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is autho...