The URL can be used to link to this page

Home My WebLink About2002-06-24 02-260 ORDERDate: Fz44)z Item/SabjecC Order, Accepting the Quote of AIG Aviation for Insurance Coverage at Bangor International Airport Responsible Deparlanmi Purchasing The City has received proposals to provide insurance coverage for Bangor International Airport AIG Aviation provided the best quote at the $100,000,000 level of coverage we currently maintain at the Airport with other carners providing significantly higher figures. Given the current market for this specialized coverage and the circumstances resulting from the events of September 1P, the $145,000 premium appears to be a reasonable price. We recommend your approval of accepting the AIG Aviation quotation. OepartnnM Head Managers Comments: The Finance Committee has reviewed and recommends approval. Qty Manager Associated Information: Summary of Coverages and Cost Fmnce OinHor Legal Appi msal: ev door Introduced for x Passage RrstRwdirg Page_a Rehrral 02-260 AssignMbCouncilm Palmer June 26, 2002 t CITY OF BANGOR (TITLE.) Order, Accepting the Quate of AIG Aviation For Inurnnce Coverage at Bangor International Airport By the CO Couml of the Oty ofbargor ORDERED, That the quotation provided by AIG Aviation for Insurance coverage at Bangor International Airport in the amount of $145,000 is hereby accepted. IA cm COUNCIL Some 26, 2002 t 02-260 Passed ORDER TitleTT Mcepti Quote of ag Avl I Aviation for asurea[mcoverage Airport At eevgax Ia[erniaael Airport Assigned to PCI�4w Councilor 9 022-2E0 �7 Imre 3, 2002 To: City Of Bangor, Bmgor International Airport AM: Chaties Mi[cbeR Re: Renewal Quotation For Bangor International Ai port From Owen Cole -Sargent Tyler &West Coverages A. Commercial General Liability Coverage Limits Premises and Operations $ 100,000,000 Limited Liability In Pwaenga Terminal Buildings, Sidewalks, Roads, Or Parkiag Areas Located On Airport Premises $ 400,000 Elevators $ 400,000 Escalators $ 400,000 Independent Contractors $100,000,000 Contractual Liability $100,000,000 Medical Malpracme $ 1,000,000 Personal Injury $ 25,000,000 Host Liquor Liability $ 5,000,000 Premises Medical Payments: $ 1,000 Cargo Legal Liability $ 400,000 Fire Legal Liability $ 100,000 War mak $Not Included 02-260 Pap -2- Bargor hio national Airport B. Products and Completed Opemtioaa ❑ Sale Of New Aimaft ❑ Sale Of Used Aircraft ❑ Fuel Sales ❑ Sign Misdirection ❑ ParnbLsieBed ❑ Parts Not Installed ❑ Service &Repair ❑ Cargo Ilauhag C. Hangmkeepers Legal Liability D. Non Ownership Liability E. Fellow Employee E clusion is Not Deleted $ 100,000,000 Each Occurrence/Aggregate $ Included $ Included $ Included $ Included $ Waded $ Included $ Included $ Included $ 100,000,000 Each AiremR $ 100,000,000 Each Occurrence $ 50,000Deduceble $ 100,000,000 Per Occurrence A. Premises & Operations Rate: Fla Rafe Included Independent Commons Rae: Fla Rae Included Commeml Liability Rate: Flat Race Included Personal Injury Liability Raze: Flat Rae Included Fire Legal Liability Rate: Plat We Included & Products and Completed Operations Rage: Fla Rate Included ❑ We Of New Aircraft Rate: Flat Rete Included ❑ Sale Of Used Aircraft Rale: Flet Rate Included ❑ Fuel Sales Rae: Flat Rate Included ❑ Sign Misdirection Rate: Flat Rae: Included ❑ Parts Installed Rate: Flat Rafe: Included ❑ Pats Not Installed Rate: Flat Rae: Included ❑ Service & Repair Rate: Flat We Included ❑ Cargo Hailing Rate: Fho Rae: ]eluded 02-269 ceI Page -3- finger International C. Hangrkeepers Legal Liability Rate: Fleabane: Included D. Non Ownership Liability Rate: Flat Rate: Included Deductibles: $50,000 Each &Every Occamence $50,000 Deductible Aggregate Annual Premium: $145,000 Alternate Quotes: $75,000,000 Aries] Premium: $133,000 $50,000,000 Annual Premium: $118.190 Increased Deductible: $100,000 Each &Every Loss 5100,000 Aggregate $140,288 Q $100,000,000 $128,678 Q $ 75,000,000 $114,349 Q $ 50,000,000 War Wsk: Buy back of the War Risk Exclusion: $ 40,000 Contract Term & Conditim a: Contract Period Ile contract period shall be from 07/O1Y2002 through 07/012003 o2-20 0 Page 4 Bangor lnteroaaonal Payment Schedule Semi annual payments with 50% due at inception, And 50% due January 2003 Premium: The total prmium charged is on a flat rete perthe summary pages. The arcual premium is based upon Receipts supplied by BN managaneny and is nM subject to an =us] audit