TITLE
Recommendation to authorize City Manager to purchase excess municipal liability insurance for the period of July 1, 2007 through
July 1, 2008, through Alliant Insurance Services, for a total premium
of $753,479;
Authorize City Manager to purchase airport liability insurance for the period of June 30, 2007 through June 30, 2008, through Alliant Insurance Services, for a total premium of $205,169; and
Authorize City Manager to purchase aircraft liability and hull insurance for police helicopters for the period of June 30, 2007 through
June 30, 2008, through Alliant Insurance Services, for a total premium of $137,714. (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, Alliant Insurance Services.
This year's policy for excess municipal liability insurance provides coverage limits of $25 million in excess of the City's $3 million self-insured retention. The City was able to obtain an additional $5 million in limits for this year's renewal. The renewal premium is $753,479, which is a decrease of 2 percent over last year's premium. Coverage for eminent domain, medical malpractice, and pollution contamination is excluded from this policy.
The City also maintains limits of $100 million in airport liability coverage and $50 million in coverage for liability resulting from terrorists acts. The renewal premium is $205,169, which is the same as last year's premium. 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 $63,000 deductible when the helicopter is in motion for the Police Department's two
Eurocopter EC-130 helicopters. The renewal premium is $143,395, which is a decrease ...
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