HomeMy WebLinkAboutItem 16 - Property and Casualty InsuranceMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 19, 2023
SUBJECT: ANNUAL POLICY RENEWAL FOR PROPERTY AND CASUALTY
INSURANCE COVERAGE
RECOMMENDATION: City Council to consider the renewal of an annual policy for property and
casualty insurance coverage with Travelers Insurance.
FUNDING SOURCE: Funds are available in the General Fund (various departments) for an
estimated amount of $1,900,000.
BACKGROUND: The City of Grapevine is fully -insured for property, general liability,
professional liability, law enforcement liability, business automobile,
excess liability, inland marine, and foreign package liability.
The City's consultant, HUB International Insurance Services (HUB),
secured pricing for the renewal of this policy. City staff reviewed the
proposals and determined that Travelers Insurance would provide the best
policy, pricing, and service for meeting the needs of the City. This is a one-
year policy.
Staff recommends approval.