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Home My WebLink About1998-06-22 98-262 ORDER^OUNCIL ACTION Date: Sune 22, 1998 Item No. 98-262 Item/Subject Renewal of Moir Liability Insurance Responsible Department PmchasinP/Afrport Commmmry: 'Duce quotes were received this year for the Airport's $100,008000.00 liability insurence coverage. Quotations were offered by Great American Insurance Company ($100,884.00), AIG Avation, Inc. ($120,000.00), and Associated Aviation ($325,000.00-$350,00000). The coverage offered by Great American hourance Company was reviewed and recommended to rhe Finance Committee by City Legal and Airport Staff and by Owen Cole of Sargent Tyler & West, the City's Airport inswence representative The award rewsoneadation to Creat American iv the amount of $100,884.00 was reviewed by the Finance Committce on June 15, 1998 and referred to the City Coandl with a recommendation for approval. See anached Jane 10, 1998 memo from Owen Cole that outlines the details of the insurance coverage. Deparhsgt'H Manager's Convents: [[,,�� O ��V �I4 �'�fJutnt- 1CityManager Associated Wormativ:. ©ntU4 r Q Budget Approval: Finance Director Legal Approval: , pP /,y�, (j. City Solicits /la VU Introduced For Spassage_ First Reading _Referral Aeugaedtofunnmlor Baldacca I June 22, 1998 _ CITY OF BANGOR Authorizing Conuam Award of Airport Liability bruin nce to Greg (TITLL) (PrUrr.................. ....... ..........1 __.. .......... Americmm Iruum ure Company. By the City CoarwU of the City ofBaµwr. ORDERED, TMT ConuactawardofAiryori Liabihtylnsumoceisherebymadew GreatA mican Insurance Company in the amount of 9100,884.00 for the period July 1, 1998 through June 30, 1999. IN CITY COUNCIL June 22, 1990 Passed 98-262 O ROER Title, Authorising Contract Award of Airport Liability Insurance to Great American Ins- urmce ConpanY .. ....., A .......... . . ............................. Councilman P.4/ 98-262 H. Ptoduas&Completed Opo w 5100,000,000 AUM;W ♦ Sob OPNew A Wk $ If Any Sok OFUxd Aircraft $ NAW ♦ P Sala $ 4,59],000 ♦ PW IrAww S 26,000 ♦ Pmn Notlima 3 ISAW ♦ Service&Re wr $ 202,000 ♦ Car$o Hauldo S 150,000 Pe at Wary $ 25,000,000 Alpepte Hort liquor Liabfty S 25400,000 A"rogde P¢mkes Medkal Payor S I'" P ch Peron S 10,000 Rech Occueence C p Lepll,ibby S 1001000 Fhe Lopl LmMity $ 100,000 98-262 Fne-3• Dwgnr lnternatioval Airport C. Hangukaepem Legel Liebiliry Bute. Flet Rate Prom'= Incimled D. Hon O srsbp Lutbi4ry Raze. FW Rue Premium: Ivchsded Deductibles: 5 50,000 Each &Et Oocurrence 8 50,000 Doduoubk Aggmgaze Annual Premium: 5100,884 TOW Annual Pmmium Contract Term & Conditions: Conuacr Petwd Tne comraot period will be from 07MI/98 throsh 07/01,99 P>Snent 9chcduk: LAIC providesa ami svmui{uyae lav with Stlq dua & inceptiom anal 50% due m Iamury 1999. Paan : Ttse total preaima Is churgeci on a flat tate per We coaxngepp Thn anon sesuibjectusipts IA monogamous, an by DIAunt, nerrt, and will not to be s3ject to an animal sada. Carcellazion: Tlnu policy ndl not be canceled, have its coverage reduced, mn rmswed, or have a chase in its rating plan untd a kat 90 days of adv ewaittea wtkO ofcapueflatioa 0 nouted Notice gfeannHmbnlor wnpv8mcat ofprmdurn/Hme M10 dale. Notice Of oamellatkn wi06c irchukd on wary policy.