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HomeMy WebLinkAbout1998-06-22 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.