Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the proposals for FY2015 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 $8,772.11; general, auto, public officials, law enforcement, and professional from American Alternative Insurance (Munich Re) at a cost not to exceed $513,900.00; property from Affiliated Factory Mutual (FM) at a cost not to exceed $323,643.04; cyber from National Union Fire Insurance Co. of Pittsburgh, PA at a cost not to exceed $28,614.00; pollution from AIG Specialty Insurance Co. at a cost not to exceed $19,954.28; and worker's compensation from Safety National Casualty Corp. at a cost not to exceed $299,778.00, all subject to sufficient funds being appropriated. [Div. of Risk Management, Johnston]
Summary
Authorization to approve FY 2015 Property and Casualty Insurance Renewals for Aviation, Excess Liability (AL/GL/POL), Excess Property, Cyber Liability, Pollution Liability, and Excess Workers' Compensation Insurance. (L0605-14) (Johnston/Hamilton)
This is a request to approve FY 2015 Property and Casualty Insurance Renewals for Aviation, Excess Liability (AL/GL/POL), Excess Property, Cyber Liability, Pollution Liability, and Excess Workers' Compensation Insurance, representing $1,194,661.43 in premiums. Funds are included in the FY 2015 proposed budget.
Budgetary Implications: Yes/NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/No/Partial - FY2015 MPB
Account Number: 1101-XXXXXX-XXXX-73101 $957,640.60
1115-XXXXXX-XXXX-73101 $87,449.22
4002-XXXXXX-XXXX-73101 $142,164.71
4051-XXXXXX-XXXX-73101 $7,406.90
This Fiscal Year Impact: $1,194,661.43 - FY15
Annual Impact: $1,194,661.43...
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