Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the Proposals for FY2013 for Excess 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 brokers: Workers' Compensation Insurance from New York Marine and General Insurance Co. at a cost not to exceed $351,018; excess property, boiler and machinery insurance from Public Entity Property Insurance Program at a cost not to exceed $274,882; excess special liability from National Casualty Co. at a cost not to exceed $460,995; international from Great Northern Insurance Co. at a cost not to exceed $3,250, self-insurance auto no-fault bond from International Fidelity Insurance Co. at a cost not to exceed $2,545; and aviation liability from Phoenix Aviation Managers at a cost not to exceed $4,581; all subject to sufficient funds being appropriated. [Div. of Risk Management, Johnston]
Summary
Request Council authorization for FY2013 Property and Casualty Insurance Renewals - Excess Workers' Compensation, Property, Liability, Aviation, Self-Insured Auto No-Fault Bond & International.
Budgetary Implications: Yes/NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes
Account Number:
Fund |
Cost Allocation |
Premium |
Allocation |
1101-XXXXX-XXXX-73101 |
81% |
$1,097,171.49 |
$888,708.91 |
1115-XXXXX-XXXX-73101 |
8% |
$1,097,171.49 |
$87,773.72 |
4002-XXXXX-XXXX-73101 |
11% |
$1,097,171.49 |
$120,688.86 |
This Fiscal Year Impact: $1,097,171.49
Annual Impact: $1,097,171.49
Project:
Activity:
Budget Reference: FY 2013
Current Balance: Included in FY 2013 Mayor's Proposed Budget
1101-XXXXX-XXXX-73101 $1,135,710
1115-XXXXX-XXXX-73101 $108,070
4002-XXXXX-XXXX-73101 $149,980
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 authorized to accept the proposals of excess insurance, which are attached hereto and incorporated herein by reference, and to execute, on behalf of the Lexington-Fayette Urban County Government, and necessary contracts or documents with the following insurance companies and/or their respective brokers: New York Marine and General Insurance Company for excess workers' compensation, Public Entity Property Insurance Program for excess property, boiler and machinery, National Casualty Company for excess special liability, Great Northern Insurance Company for international, International Fidelity Insurance Company for self-insurance auto no-fault bond, and Phoenix Aviation Managers for aviation liability.
Section 2 - That an amount, not to exceed the sums stated, be and hereby is approved for payment to Alliant Insurance Services, Inc. on behalf of New York Marine and General Insurance Company in the amount of $351,018.0, and on behalf of Public Entity Property Insurance Program in the amount of $274,882.00; and to Powell-Walton-Milward on behalf of National Casualty Company in the amount of $460,995.00, on behalf of Great Northern Insurance Company in the amount of $3,250.00, on behalf of International Fidelity Insurance Company in the amount of $2,545.00, and on behalf of Phoenix Aviation Managers in the amount of $4,581.00 from FY 2013 account numbers 1101-XXXXXX-73101 ($887,708.91), 1115-XXXXXX-73101 ($87,773.72), 4002- XXXXXX-73101 ($120,688.86), pursuant to the terms of the proposed contracts, and subject to sufficient funds being appropriated in these accounts.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
______________________________
MAYOR
ATTEST:
______________________________
CLERK OF URBAN COUNTY COUNCIL