Lexington-Fayette Urban County Government - File #: 0714-15

• File #: 0714-15
• Version: 1
• Name: LFUCG FY 2016 Property & Casualty Insurance Renewals
• Type: Resolution
• Status: Approved
• File created: 5/26/2015
• In control: Urban County Council
• On agenda: 6/18/2015
• Final action: 6/18/2015
• Enactment date: 6/18/2015
• Enactment #: R-371-2015
• Title: : A Resolution authorizing the Mayor, on behalf of the Urban County Government, to accept the Proposals for FY2016 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 $30,231.00; general, auto, public officials, law enforcement, and professional from American Alternative Insurance (Munich Re) at a cost not to exceed $526,951.00; property from Affiliated Factory Mutual (FM) at a cost not to exceed $323,658.83; cyber from National Union Fire Insurance Co. of Pittsburgh, PA at a cost not to exceed $28,530.00; pollution from AIG Specialty Insurance Co. at a cost not to exceed $20,341.00; and workers' compensation from Safety National Casualty Corp. at a cost not to exceed $325,628.00, all subject to sufficient funds being...

Date	Ver.	Action By	Action	Result
6/18/2015	1	Urban County Council	Approved	Pass
6/11/2015	1	Urban County Council	Received First Reading
6/9/2015	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 FY2016 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 $30,231.00; general, auto, public officials, law enforcement, and professional from American Alternative Insurance (Munich Re) at a cost not to exceed $526,951.00; property from Affiliated Factory Mutual (FM) at a cost not to exceed $323,658.83; cyber from National Union Fire Insurance Co. of Pittsburgh, PA at a cost not to exceed $28,530.00; pollution from AIG Specialty Insurance Co. at a cost not to exceed $20,341.00; and workers' compensation from Safety National Casualty Corp. at a cost not to exceed $325,628.00, all subject to sufficient funds being appropriated. [Div. of Risk Management, Johnston]
Summary
Authorization to renew the following property & casualty insurance policies - Aviation, Excess Liability (AL/GL/POL), Excess Property, Cyber Liability, Pollution Liability, And Excess Workers' Compensation through the LFUCG's broker J SMITH LANIER & CO- LEXINGTON/Powell Walton Milward. The recommended Insurance Policies represent $1,255,339.83 in premiums for FY 2016. Funds are budgeted. (L0714-15)(Johnston/Hamilton)

Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes, Completed by [Keith Horn, Date]}
Risk Management: {Select Yes, Completed by [Patrick Johnston, May 22, 2015]}
Fully Budgeted [select]: Included in FY 2016 Proposed Budget
Account Number:
Fund

1101-XXXXXX-XXXX-73101
$940,626.13
1115-XXXXXX-XXXX-73101
$60,005.24
4002-XXXXXX-XXXX-73101
$252,825.44
4051-XXXXXX-XXXX-73101
$1883.01

This Fiscal Year Impact: $1,255,339.83
Annual Impact:
P...