Title
Approval for the Mayor and/or City Administrator to sign a renewal contract with Trident Insurance Services, LLC for property, casualty, and liability insurance for the period May 1, 2011 to April 30, 2012 in the amount of $514,582.
Presented by Dan Roach, Director of Human Resources
Body
Item Summary:
The City of Roswell, via a broker, engaged in a request for proposal to procure property, casualty, and liability insurance for the coverage period of 5/1/11 to 4/30/12. Trident Insurance Services, LLC, the Citys current carrier was the most responsive, responsible proposer in a renewal amount not to exceed $503,082. One Beacon and Travelers declined to quote because their pricing exceeded our current premium by a significant amount.
This contract will provide property, casualty and liability insurance coverage for all employees, elected officials, volunteers and assets of the City. This renewal includes $11,500 for the National Flood Insurance Program (NFIP) payment that Trident will manage for the coverage period. Deductibles will remain at $10,000 property and $25,000 liability per occurrence.
Committee or Staff Recommendation:
On April 12, 2011 the Administration and Finance & Recreation and Parks Committee recommended placing this item on the April 25, 2010 Mayor and Council Agenda.
Financial Impact:
$539,831 is requested to be available in Cost Center 9003, Account Number 523100 for Fiscal Year 2012.
Presented by:
Dan Roach, Director of Human Resources
Wendy Ademy, Risk Manager