HomeMy WebLinkAbout1991-12-17; City Council; Resolution 91-4031
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RESOLUTION NO. 9 1 - 4 0 3
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, REVISING
STANDARDS FOR REVIEWING INSURANCE AND
SURETY BONDS
WHEREAS, the City requires contractors, builders, subdividers and otl
persons doing business with the City to obtain various types of insurance
bonds; and
WHEREAS, it is necessary to ensure that the insurance and sur(
companies selected by those persons meet certain financial and performar
standards.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
Carlsbad, California, as follows:
1.
2.
That the above recitations are true and correct.
That, except as expressly provided by law or bid specifications
the contrary, insurance or surety companies securing or insuring any obligati
or risk under an insurance policy or surety bond of which the City is a benefici;
or an additional insured shall meet the following minimum standards:
a. The company shall be authorized to conduct the business
insurance of a type required by the transaction in the St;
of California as evidenced by listing in the offic
publication of the Department of Insurance of the State
California. For liability insurance, the City may accep
surplus line carrier provided the City is provided with a cc
of a surplus line broker affidavit as shown in Exhibit
attached hereto. Any surplus line carrier must meet 1 rating limitations included in Paragraph b below.
b. The company shall have a rating in the latest availa
"Best's Rating Guide" of "A-" or better and a financial s
of $10 million (currently class V) or better.
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c. If a company is not listed by the State Insurancc
Commissioner in the official publication of the Departmeni
of Insurance, is not rated by Best's or does not posses:
sufficient years of experience to be rated, or if the small sizf
of the insurance or surety obligation or other risk factor:
justify a lessor standard, the City Attorney and the CiQ
Manager may approve such company only if it produce:
satisfactory evidence that its financial responsibility am performance capability within the State of California i
sufficient to insure or secure adequately the subject risk o
obligation. The City may elect to contract for the service
of an insurance consultant, at the expense of the persoi
asking to use an insurance company not meeting thc
standards listed in Paragraphs 2a and/or 2b above, tc
provide a financial responsibility and performance capabilit
analysis and to provide recommendations to the Cit
thereon.
3. Contractors, builders, subdividers and other persons doing busines
with the City who are required to provide automobile insurance shall provide i
policy from a company that meets the above standards and that covers a?
vehicle used in the performance of the contract whether on-site or off-site
whether owned, leased, non-owned or hired, and, whether scheduled or non
scheduled. The automobile insurance certificate must state the coverage is fo
"any auto" and cannot be limited in any manner.
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4. Contractors, builders, subdividers and other persons are requir
to provide proof of workers’ compensation insurance. A workers’ compensatii
insurance company is exempt from the City‘s requirement for a Best’s Rating
A-:V, however, it must meet the standards listed in Paragraph 2a above. The C
will accept workers’ compensation insurance policies written by the Sta
Compensation Insurance Fund as meeting this requirement.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Cj
Council of the City of Carlsbad, California on the 17th day of
December , 1991, by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Larson, Stanton and NE
NOES: None
ABSENT: None
ATTEST:
-2oZ.&dL+
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)
a 0
EXHIBIT
CITY OF CARLSBAD SURPLUS LINE BROKER AFFIDAVIT
Broker Name:
Address:
City/S tate/Zip :
Date:
Project Name:
Type of Insurance:
I certifv that is the Broker of Record for
(“Contractor”) who is required to provide insurance under the specification
of the above contract. I further certify that as Broker of Record for Contractor, I have contactec
the insurance companies listed below, all of whom meet the City‘s requirements included i~
Resolution No. and all of whom have refused to write the required policy due to th~
type of risk involved.
Insurance Carrier:
Name of Contact:
Address :
Date:
Reason for Refusal:
Beds Rating Listed by State Insurance
Commissioner (Yes/No)
Insurance Canier:
Name of Contact:
Address :
Date:
Reason for Refusal:
Best‘s Rating Listed by State Insurance Commissioner (Yes/No)
* e
Insurance Carrier:
Name of Contact:
Address:
Date:
Reason for Refusal:
Best's Rating Listed by State Insurance
Cornmissioner (Yes/No)
Contractor is requesting that the City accept company who is a surph
line carrier having an A-:V or better rating in the most recent issue of Best's Rating Guide an
who has an office within the State of California at the following address in order to effect servic
of process.
Name of Surplus
Line Carrier:
Address:
City/S tate/zip :
Address to effect Service of Process within the State of California.
Name:
Address:
City/State/Zip:
I certify under penalty of perjury that the foregoing facts are true and correct.
Dated:
Signed:
Broker of Record