City of Long Beach - File #: 04-1532

• File #: 04-1532
• Version: 1
• Name: Renewal of property insurance for City buildings and contents
• Type: Agenda Item
• Status: Passed
• File created: 6/25/2004
• In control: City Council
• On agenda: 6/22/2004
• Final action: 6/22/2004
• Title: Renewal of property insurance for City buildings and contents. (Citywide)
• Sponsors: Human Resources
• Indexes: Insurance

Date	Ver.	Action By	Action	Result
6/22/2004	1	City Council	authorize City Manager	Pass

Title

Renewal of property insurance for City buildings and contents.  (Citywide)

Discussion

[Description/Discussion]

Timing Considerations

[Timing Considerations]

Fiscal Impact

[Fiscal Impact]

SUGGESTED ACTION

Authorize City Manager to purchase "all risk" property insurance for City buildings and contents through the Driver-Alliant Insurance Services, for a total premium not to exceed $621,554.

Authorize City Manager to pay additional premiums to Driver-Alliant Insurance Services, equal to the proposed  "all risk" premium rate of $0.054 per $100, applied to the value of any new buildings purchased or constructed by the City or the increased value of any buildings reappraised during the term of this insurance policy.

Body

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