Title
A Resolution authorizing and approving the purchase of the following insurances: excess property insurance through Alliant from PEPIP ($317,403.78), excess workers' compensation through Alliant from New York Marine and General Insurance Co. ($326,989.00), excess aviation liability through Powell Walton Milward from Old Republic Insurance Co. ($4,581.00), excess liability (general, automobile and public official's) through Powell Walton Milward from Munich Re ($561,396.00), and self-insured auto no-fault bond through Powell Walton Milward from International Fidelity Insurance Co. ($2,500.00), for FY 2014, at a total cost not to exceed $1,212,869.78, and authorizing and directing the Mayor, on behalf of the Urban County Government, to execute all necessary documents to accomplish the same. [Office of the Chief Administrative Officer, Hamilton]
Summary
Authorization to execute FY 2014 Property & Casualty Insurance Renewals - Aviation, Excess Liability (AL/GL/POL), Excess Property, Self-Insured Auto No-Fault Bond and Excess Workers' Compensation. (L0617-13) (Hamilton)
This is a request to execute FY 2014 Property & Casualty Insurance Renewals - Aviation, Excess Liability (AL/GL/POL), Excess Property, Self-Insured Auto No-Fault Bond and Excess Workers' Compensation. The total premium is $1,212,869.78. Funds are budgeted.
Budgetary Implications: Yes
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes
Account Number: 1101-XXXXXX-XXX-73101 $982,424.52
1115-XXXXXX-XXX-73101 $97,029.58
4002-XXXXXX-XXX-73101 $133,415.68
This Fiscal Year Impact: $1,212,869.78
Annual Impact: $1,212,869.78
Project:
Activity:
Budget Reference:
Current Budget: FY 2014 Proposed Budget includes:
1101 $1,229,540; 1115 $121,440; 4002 $167,000
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the purchase of excess property insurance through Alliant from PEPIP, excess workers' compensation through Alliant from New York Marine and General Insurance Company, excess aviation liability through Powell Walton Milward from Old Republic Insurance Company, excess liability (general, automobile and public official's) through Powell Walton Milward from Munich Re, and self-insured auto no-fault bond through Powell Walton Milward from International Fidelity Insurance Company, for FY 2014, be and hereby is authorized and approved and that the Mayor, on behalf of the Lexington-Fayette Urban County Government, by and hereby is authorized and directed to execute all necessary documents to accomplish the same.
Section 2 - That an amount, not to exceed the total sum of $1,212,869.78, be and hereby is approved for payment to Alliant on behalf of PEPIP ($317,403.78), to Alliant on behalf of New York Marine and General Insurance Company ($326,989.00), Powell Walton Milward on behalf of Old Republic Insurance Company ($4,581.00), Powell Walton Milward on behalf of Munich Re ($561,396.00), and Powell Walton Milward on behalf of International Fidelity Insurance Company ($2,500.00) from the account numbers listed in Exhibit A, which is attached hereto and incorporated herein by reference.
Section 3 - That this Resolution shall become effective on the date of passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
______________________________
CLERK OF URBAN COUNTY COUNCIL