HomeMy WebLinkAboutReso 1982-10896
RESOLUTION NO. 10896
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA AWARDING PUBLIC LIABILITY INSURANCE COVERAGE
The City Council of the City of Chula Vista does hereby
resolve as follows:
WHEREAS, the current public liability insurance policy
of the City of Chula Vista provides for a self-insured retention
ln the amount of $500,000, and
WHEREAS, Creaser & Price Insurance Agency has recommended
that the present retention level of $500,000 be rejected and that
the retention level be reduced to $100,000, and
WHEREAS, bids for the various retention levels have been
received and are shown in Exhibit "A", attached hereto and incor-
porated herein by reference as if set forth in full, and
WHEREAS, it has been recommended that coverage be awarded
to Canadian Indemnity for Option (3-C) for a total cost of $30,000.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Chula Vista does hereby award the public liability
insurance coverage to Canadian Indemnity for Option (3-C) for a
cost of $30,000.
Presented by
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Finance
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George D. Lindberg, City
Attorney
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this
15th
day of
June
19 82 ,by the following vote, to-wit:
AYES:
NAYES:
ABSTAIN:
ABSENT:
Councilmen
Cox, Malcolm, Moore, McCandliss, Scott
Councilmen
None
Councilmen
None
Councilmen
None
ATTEST fJrn.~tCC~ :JJ; $~dr
t/ City Clerk .
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) S S.
CITY OF CHULA VISTA )
I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above and foregoing ;s a full, true and correct copy of
RESOLUTION NO. lOBg6
,and that the same has not been amended or repealed.
DATED
(seal)
City Clerk
CC-660
EXHIBIT
A
General Liability Insurance
Proposed for the City of Chu1a Vista
By Creaser & Price Insurance Agency
Option (1) H & W Insurance Services (Twin City Ins. Co.) COST
A. $9,500,000 Excess of $500,000 Retention $17,300
B. $9,750,000 Excess of $250,000 Retention $25,000
C. $9,900,000 Excess of $1 00 ,000 Retention $38,000
Option (2) Levinson Bros. (National Union, Twin City Ins. Co.)
A. $9,500,000 Excess of $500,000 Retention
B. $9,800,000 Excess of $200,000 Retention
C. $9,900,000 Excess of $100,000 Retention
$16,295
$21,350
$34,830
Option (3) C. 1. LA. (Canadian Indemnity, First State)
A. $9,500,000 Excess of $500,000 Retention
B. $9,800,000 Excess of $200,000 Retention
C. $9,900,000 Excess of $lDO,OOO Retention
$16,000
$24,000
$30,000
Note: (1) An additional $500,000 coverage can be purchased at a premium
of $2,500 or an additional $10,000,000 at a cost of $5,000.
I-/t)/f/;
General Liability Insurance
Proposed for the City of Chula Vista
By Creaser & Price Insurance Agency
Option (1) H & W Insurance Services (Twin City Ins. Co.)
COST
C. $9,900,000 Excess of $100,000 Retention
$17,300
$25,000
$38,000
A. $9,500,000 Excess of $500,000 Retention
B. $9,750,000 Excess of $250,000 Retention
Option (2) Levinson Bros. (National Union, Twin City Ins. Co.)
A. $9,500,000 Excess of $500,000 Retention
B. $9,800,000 Excess of $200,000 Retention
C. $9,900,000 Excess of $100,000 Retention
$16,295
$21,350
$34,830
Option (3) C.I.I.A. (Canadian Indemnity, First State)
A. $9,500,000 Excess of $500,000 Retention
B. $9,800,000 Excess of $200,000 Retention
C. $9,900,000 Excess of $100,000 Retention
$16,000
$24,000
$30,000
Note: (1) An additional $500,000 coverage can be purchased at a premium
of $2,500 or an additional $10,000,000 at a cost of $5,000.
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creaser,
.
'NsuRANcEprlCe
This Firm is Independently Owned and Operated
BONITA (Main Office)
145 Willow Street. Bonita, California 92002 . Telephone (714) 267-3600
From La Jolla and EI Cajon (714) 263-9212
SAN DIEGO
8388 Vickers Street, San Diego, California 92111 . Telephone (714) 277-4288
JUNE 2, 1982
CITY OF CHULA VISTA
GOROON GRANT, DIRECI'OR OF FINANCE
BOX 1087
CHULA VISTA, CA. 92012
FINAL INSURANCE PREMIUM QUOI'ES FOR RENEW'AL OF THE CITY OF CHULA VISTA LIABILITY
COVEHAGE ARE IN AS FOr..u:wS:
(1)
H & W INSURANCE SERVICES ('IWIN CITY FIRE INS.
$9,500,000. EXCESS OF $500,000 RETENTION
$9,750,000. EXCESS OF $250,000 RETENTION
$9,900,000. EXCESS OF $100,000 RETENTION
CO. )
$17,300.
$25,000.
$38,000.
(2) LEVINSON BROI'HERS (NATICNAL UNION~ 'IWIN CITY FIRE)
$9,500,000. EXCESS OF $500,000 RETENTION $16,295.
$9,800,000. EXCESS OF $200,000 RETENTION $21,350.
$9,900,000. EXCESS OF $100,000 RETENTION $34,830.
(3) C.L LA. (CANADIAN INDEMNITY; FIRST STA'IE)
$9,500,000. EXCESS OF $500,000 RETENTION
$9,800,000. EXCESS OF $200,000 RETENTION
$9,900,000. EXCESS OF $100,000 RETENTION
$16,000.
$24,000.
$30,000.
WE CAN ALSO ADD .AN ADDITIONAL $5,000,000. COVERAGE AT A PREMIUM OF $2,500.
OR $10,000,000. AT $5,000.
I STRONGLY URGE THE CITY TO PURCHASE THE I1>>lER RETENTION. THIS WILL FREE
SOME OF THE FUNDS BEING HELD AS RESERVE FOR IARGE La3SES WITHOUT HARMING THE
INTEGRITY OF YOUR SELF INSURANCE FUND.
THE CITY SHOULD ALSO CONSIDER INCREASING THE TOI'AL LIMIT OF PROI'ECI'ION AS QUOI'ED
ABOVE .
LAST YEAR THE CITY PAID $25,000. FOR $9,500,000. IN EXCESS OF A $500,000. SELF
INSURED RETENTION. THIS YEAR THE CITY CAN BUY $20,000,000. COVERAGE WITH A
$100,000. RETENTION AT A PREMIUM OF $35,000.
PLEASE LEI' ME KNCW WHICH lEVEL OF COVERAGE THE CITY WISHES RENEWED .AND I WILL
FO~ CERI'IFICATES OF COVERAGES.
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CSS/ttc
(1INCERELY,
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CHARLES S. SHIPPEY