HomeMy WebLinkAboutRES 93-035 RESOLUTION
WHEREAS a bid was received for furnishing property damage insurance to the
City of Beaumont, Texas; and,
WHEREAS, Hartford Insurance Company through the Wisenberg Insurance
and Risk Management Agency submitted a bid in the amounts stated as follows:
Buildings $ 99,263,000
Contents $ 14,699,000
Business Income (Earnings) $ 300,000
Valuable Papers $ 2,000,000
Data Processing Equipment:
Hardware $ 2,000,000
Software $ 200,000
Property Floater $ 50,000
Deductible (excludes computer) $ 100,000
Deductible for computer equipment $ 1,000
Boiler and Machinery (separate policy) $ 5,000,000
Deductible $ 25,000
and,
WHEREAS, the rate bid was 6.5 cents per $100.00 coverage for an annual
premium of $77,033.00 based on current values and boiler and machinery insurance at
$4,770.00 for an annual premium total of $81,803.00; and,
WHEREAS, City Council is of the opinion that the bid submitted by Hartford
Insurance Company through the Wisenberg Insurance and Risk Management Agency is the
best bid meeting specifications and should be accepted;
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NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bid submitted by Hartford Insurance Company through the Wisenberg Insurance
and Risk Management Agency in the amounts stated above for furnishing property damage
insurance to the City of Beaumont, Texas, be accepted by the City of Beaumont.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
day of _, 1993.
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