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HomeMy WebLinkAbout1996-07-22 96-328 ORDERCOUNCIL ACTION Date: 7-22-96 Item Ne. 96-328 Item/Subject: OROSR, Authorizing the purchase of Liability Insurance from Great American Insurance Company Responsible Department: Finance Commentary: On June 29, 1996, the City Council authorized the renewal of the City's general liability i with Coregis, our prior insurer. Subsequent- ly, w s informevan The Dunlap Agency that Coregis intended to drop coverage oer backup clai Since this was a significant change Sn coverage, other options were explored. - Great American Insurance had provided a proposal to provide liability coverage to the City. The coverage levels originally quoted Was somewhat higher than the coverage limits provided under the States Tort Claim Act. After s e discussions, these limits have been adjusted to match o um coverage requirements and to lower the premium to $179,595, $9,833 less than their previous quote. Great American Insurance has several ral other municipal accounts in Maine which, we believe, w allow this company to more quickly familiari2e themselves with the particulars of Maine liability law and the State's Tort Claim Act. This recomnendation has been discussed with the Finance Committee which recommends your approval. Manager's Comments I recommend approval PITY MANAGRR Associated Information: Order Budget Approval: $179,595, various funds and accounts Legal Approval: CTTY S _Intassagd For rECIMIR passage _ First Reading Page - of -Referral 96-328 AnipmA lef unegar manchette July 22, 1991 - CITY OF BANGOR (TITLE) (]Drbtra ...... Authorising the Purchase of Liability Insurance from Great American Insurance Company BY w GVh GwneH Of My of Danger. ORDERED, THAT the purchase of general liability insurance from Great American Insurance is hereby authorized for fiscal year 1997. IN CITY COUNCIL July 22, 1996 Passed CITY GL8 96-328 ORDER Title, Authorizing the Purchase of Liability Insurance from Great American Ineygance Cgnm..................... ..................................... a. Q/f �m/7p � moped to Councilman