TITLE
Recommendation to authorize City Manager to purchase excess municipal liability insurance for the period of July 1, 2005 through July 1, 2006, through Driver-Alliant Insurance Services, for a total premium not to exceed $950,000; authorize City Manager to purchase airport liability insurance for the period of July 1, 2005 through July 1, 2006, through Driver-Alliant Insurance Services, for a total premium of $229,917; and authorize City Manager to purchase aircraft liability and hull insurance for police helicopters for the period of July 1, 2005 through July 1, 2006, through Driver-Alliant Insurance Services, for a total premium of $209,832. (Citywide)
DISCUSSION
The City annually purchases excess municipal liability, airport liability, and aircraft
liability and hull insurance to cover catastrophic exposures arising from general city
operations. This coverage is obtained through the City’s broker of record, Driver-
Alliant Insurance Services.
This year’s policy for excess municipal liability insurance provides coverage limits
of $20 million in excess of the City’s $3 million self-insured retention. The renewal
premium is an amount not to exceed $950.000. We anticipate the rate to be
comparable to last year. Coverage for war risks or terrorist acts is excluded from
this policy. Our broker will continue to explore all options and obtain other quotes
to reduce premium costs up until the date of renewal.
The City maintains limits of $100 million in airport liability coverage and $50 million
in coverage for liability resulting from terrorists acts. The renewal premium is
$229,917, which is the same amount as last year’s policy. The policy includes
extended coverage for international terrorist acts under the Terrorism Risk
Insurance Act (TRIA).
The City maintains limits of $50 million in aircraft liability and hull insurance, subject
to a 2.5 percent deductible for the Police Department's two Eurocopter EC-130
helicopters. The renewal premium is $209.832, w...
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