TITLE
Recommendation to authorized City Attorney to pay the sum of $8,000 in full and final resolution of the Claim of Stratford Insurance.
DISCUSSION
Stratford Insurance is the insurance company for Cardona's Trucking. On April 28, 2013, a Long Beach Police Officer entered the intersection on a red light, and collided with Cardona's Freightliner big rig causing major damage. As a result of the accident, Stratford Insurance had to pay costs for the repairs to its insured's big rig and has agreed to accept $8,000 as full settlement contingent upon City Council approval.
In light of the potential liability, we opine that this proposed settlement represents the reasonable value of the claim. The matter was brought before the Economic Development and Finance Committee on May 6, 2014 and the Committee approved the settlement. Based thereon, we respectfully recommend that you approve this settlement.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
CHARLES PARKIN, CITY ATTORNEY
BY: LATASHA N. CORRY, DEPUTY