HomeMy WebLinkAboutRES 82-45 R E S O L U T I O N
WHEREAS, on January 25, 1982, the City of Beaumont
received competitive bids for property insurance; and,
WHEREAS, Chicago Insurance Company submitted a bid
through the Sol L. Wisenberg Agency for fire, extended coverage,
vandalism and malicious mischief, and special extended coverage
for the period February 15, 1982 through February 15, 1985, with a
$100,000 per occurrence deductible at a total premium of $104, 241 ;
American Centennial Insurance Company submitted a bid through the
Munro Insurance Agency for coverages excluded under the above
policy, primarily flood and earthquake for the period February 15,
1982 through February 15, 1985, with a $100, 000 per occurrence
deductible at a total premium of $53,085; and,
WHEREAS, Northern Assurance Company submitted a bid for
coverage of boiler and machinery for boilers/machines at all
locations for the period February 15, 1982 through February 15,
1985, with a $100,000 per occurrence deductible at a total premium
of $12, 306; and,
WHEREAS, the total premium paid will vary during the
three year term with changes in values and additions and deletions
of properties; and,
WHEREAS, the City Council is of the opinion that said
bids are the lowest and best bids received and should be awarded;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bids of Chicago Insurance Company, for fire and extended
coverage, vandalism and malicious mischief, and special extended
coverage, American Centennial Insurance Company for coverages
excluded under the above policy , primarily flood and earthquake,
and Northern Assurance Company for coverage on boilers and
machinery for boilers/machines at all locations , with a $100,000
per occurrence deductible for three year terms beginning February
15, 1982 through February 15, 1985, are hereby accepted and that
the City Manager is hereby authorized to pay said premiums in
three annual installments.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the 9th day of February, 1982.
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