TITLE
Recommendation to authorize City Manager, or designee, to purchase, through Alliant Insurance Services, Inc., the following insurance policies: (1) excess municipal liability insurance, at a total premium not to exceed $7,390,387, with multiple carriers for a 12-month period, from July 1, 2023, to July 1, 2024; (2) a buy-down deductible of the self-insured retention down to $7.5 million from Safety National, at a premium not to exceed $1,545,299; (3) a buy-down deductible of the self-insured retention down to $5 million for the first claim only involving Officer Involved Shooting, with Lloyd’s of London, at a premium not to exceed $928,011; (4) airport liability insurance, at a premium not to exceed $150,085, from National Union Insurance Company; (5) aircraft liability and hull insurance for police helicopters, at a premium not to exceed $74,813, from National Union Insurance Company; (6) storage tank insurance, at a premium not to exceed $33,946, from Liberty Surplus Lines; (7) SPILLS pollution coverage, at a premium not to exceed $14,229; (8) drone coverage, at a premium not to exceed $10,933, from Starr Indemnity & Liability Co.; (9) crime coverage from National Union Fire Insurance Company of Pittsburgh, PA and Berkley Insurance Company, at a premium not to exceed $44,111; (10) volunteer medical coverage, at a premium not to exceed $16,680; (11) marine insurance from International Marine Underwriters (IMU), at a premium not to exceed $433,368; (12) cyber excess coverage, at a premium not to exceed $264,165, from Beazley; and, (13) cyber breach response buy-up, for a premium not to exceed $9,940. All liability policies will be effective for a 12-month period from July 1, 2023, to July 1, 2024. (Citywide)
DISCUSSION
The City of Long Beach (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, v...
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