TITLE
Recommendation to authorize City Manager, or designee, to purchase, through Alliant Insurance Services, Inc., the following insurance policies: Excess Municipal Liability insurance, at a total premium not to exceed $5,728,472 with multiple carriers for a 12-month period beginning July 1, 2022; a buy-down deductible of the Self-Insured Retention (SIR) down to $7,500,000 from Safety National at a premium not to exceed $1,335,712; a buy-down deductible of the SIR down to $5 million for first claim only involving Officer Involved Shooting with Lloyd’s of London at a premium not to exceed $693,840; Airport Liability insurance at a premium not to exceed $115,450 from National Union Insurance Company; Aircraft Liability and Hull Insurance for police helicopters at a premium not to exceed $59,850 from National Union Insurance Company; Storage Tank insurance at a premium not to exceed $32,079 from Liberty Surplus Lines; SPILLS pollution coverage at a premium not to exceed $11,094; Drone coverage at a premium not to exceed $8,746 from Starr Indemnity & Liability Co.; Crime coverage from National Union Fire Insurance Company of Pittsburgh, PA, and Berkley Insurance Company at a premium not to exceed $42,387; Volunteer Medical coverage at a premium not to exceed $12,000; Marine insurance from International Marine Underwriters (IMU) at a premium not to exceed $388,549; Cyber Excess coverage at a premium not to exceed $357,357 from Beazley; and, Cyber Breach Response buy-up for premium not to exceed $7,669, for the period of July 1, 2022, to July 1, 2023, for all liability policies. (Citywide)
DISCUSSION
The City annually purchases excess municipal liability, airport liability, aircraft liability and hull insurance, storage tank liability, SPILLS pollution coverage, drone insurance, crime coverage, marine insurance, volunteer medical coverage, and cyber excess insurance to cover exposures arising from City of Long Beach (City) operations. This year Risk Management co...
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