HomeMy WebLinkAboutItem 13 - Property & Casuality Insurance MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
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FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 19, 2017
SUBJECT: APPROVAL FOR CONTRACT ON PROPERTY AND CASUALTY
INSURANCE COVERAGE
RECOMMENDATION:
City Council to consider award of an annual contract with Travelers Insurance for
property and casualty insurance coverage.
FUNDING SOURCE:
Funds are available in the General Fund (various accounts) in an amount not to exceed
$900,000.
BACKGROUND:
The City's consultant Hub International Insurance Services (HUB) requested proposals
from its insurance carriers and secured four proposals for annual insurance policies.
These policies include property, general liability, professional liability, law enforcement
liability, business automobile, excess liability, inland marine, and foreign package
liability.
Proposals were received from Travelers Insurance, Darwin, Chubb and the incumbent,
One Beacon. HUB and City staff reviewed the proposals and determined that Travelers
Insurance Company would provide the best policy, pricing and service for meeting the
needs of the City. This is a one year contract.
Staff recommends approval.