Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the proposals for FY 2027 for excess liability insurance from Marsh & McLennan Insurance Agency, 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 Marsh & McLennan Agency: aviation from Westchester Fire insurance (CHUBB) at a cost not to exceed $62,209.98; general, public officials, auto, employer, and law enforcement liabilities from Safety National Casualty Corporation at a cost not to exceed $1,141,338.00; on the road auto from Safety National Casualty Corporation at a cost not to exceed $93,340.00; excess liability from Obsidian at a cost not to exceed $670,720.00; property from Liberty Mutual at a cost not to exceed $1,167,597.00; cyber from Axis Co. at a cost not to exceed $79,418.25; pollution from Allied New World at a cost not to exceed $25,945.74; workers’ compensation from Safety National Casualty Corporation at a cost not to exceed $595,782.00; drone liability from Global Aerospace at a cost not to exceed $5,008.56; and WC Audit, Ky. Motor Fuel Bond, Ky. Self Insurance Bond, Fine Arts Policy from Safety National Casualty Corporation, Traveler’s Insurance, Ky. Dept. of Insurance at a cost not to exceed $42,523.00; all subject to sufficient funds being appropriated. [Div. of Human Resources, George]
Summary
Authorization to accept the proposals for FY 2027 for excess liability insurance from Marsh & McLennan Insurance Agency, 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 Marsh & McLennan Agency: aviation from Westchester Fire Insurance (CHUBB) at a cost of $62,209.98; general, public officials, auto, employer, and law enforcement liabilities from Safety National Casualty Corporation at a cost of $1,141,338.00; on the Rd. auto from Safety National Casualty Corporation at a cost of $93,340.00; excess liability from Obsidian at a cost of $670,720.00; property from Liberty Mutual at a cost of $1,167,597.00; cyber from Axis Co. at a cost of $79,418.25; pollution from Allied New World at a cost of $25,945.74; workers’ compensation from Safety National Casualty Corporation at a cost of $595,782.00; Drone Liability from Global Aerospace at a cost of $5,008.56; workers compensation audit and bonds from Safety National Casualty Corporation at a cost of $42,523.00. Insurance policies represent $3,883,882.53 in premiums. Funds are included in the FY 2027 Budget. (L0444-26) (George/Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes/No, Completed by [Attorney Name, Date]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number:
1101-XXXXX-XXXX-73101 $2,774,645.68
1115- XXXXX-XXXX-73101 $255,171.08
4002-XXXXX-XXXX-73101 $846,298.00
4051-XXXXX-XXXX-73101 $7,767.77
This Fiscal Year Impact: $3,883,882.53
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
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 for FY 2027 for excess liability insurance, which are attached hereto and incorporated herein by reference, and to execute, on behalf of the Lexington-Fayette Urban County Government, any necessary contracts or documents with the following insurance companies by and through Marsh & McLennan Agency as broker: Westchester Fire Insurance Company (Chubb) for aviation; Safety National Casualty Corporation for general, public officials, auto, employer, and law enforcement; Safety National Casualty Corporation for on the road auto; Obsidian for excess liability; Liberty Mutual for property; Axis Company for cyber; Allied New World for pollution; Safety National Casualty Corporation for workers’ compensation; Global Aerospace for drone liability; and Safety National Casualty Corporation, Traveler’s Insurance, Kentucky Department of Insurance for WC Audit, Kentucky Motor Fuel Bond, Kentucky Self Insurance Bond, Fine Arts Policy.
Section 2 - That an amount, not to exceed the sums stated, be and hereby is approved for payment to Marsh & McLennan Agency on behalf of the insurance companies, and/or the companies: Westchester Fire Insurance Company (Chubb) - $62,209.98; Safety National Casualty Corporation - $1,141,338.00; Safety National Casualty Corporation - $93,340.00; Obsidian - $670,720.00; Liberty Mutual - $1,167,597.00; Axis Company - $79,418.25; Allied New World - $25,945.74; Safety National Casualty Corporation - $595,782.00; Global Aerospace - $5,008.56; and Safety National Casualty Corporation, Traveler’s Insurance, Kentucky Department of Insurance - $42,523.00; all from FY 2027 account numbers 1101-XXXXXX-73101 ($2,774,645.68), 1115-XXXXXX-73101 ($255,171.08), 4002-XXXXXX-73101 ($846,298.00), and 4051-XXXXXX-73101 ($7,767.77) 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
0444-26:GET: 4936-5513-1057, v. 1