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Home My WebLink About2020-06-23; City Council; Resolution 2020-118RESOLUTION NO. 2020-118 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE PURCHASE OF $500 MILLION OF PROPERTY INSURANCE COVERAGE THROUGH ALLIANT INSURANCE SERVICES, INC.'S ALLIANT PROPERTY INSURANCE PROGRAM (APIP) FOR FISCAL YEAR 2020- 2021 IN AN AMOUNT NOT TO EXCEED $275,454.29. EXHIBIT 1 WHEREAS, the City Council ofthe City of Carlsbad, California has determined that it has a desire to renew its annual property insurance through Alliant Insurance Services, lnc.'s Alliant Property Insurance Program (APIP); and WHEREAS, Alliant Insurance Services has negotiated a renewal of $500 million of property coverage for the next fiscal year beginning July 1, 2020 and concluding on June 30, 2021, for an annual premium in an amount not to exceed $275,454.29. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as follows: 1. That the above recitations are true and correct. 2. That the purchase of $500 million of property coverage through Alliant Property Insurance Program, effective July 1, 2020 to June 30, 2021, is approved and the Deputy City Manager, Administrative Services is authorized to issue a warrant in the amount not to exceed $275,454.29 for payment of the premium to Alliant Insurance Services (Attachment A). PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of Carlsbad on the 23rd day of June, 2020, by the following vote, to wit: AYES: NAYS: ABSENT: Hall, Blackburn, Bhat-Patel, Schumacher. None. None. MATT HALL, Mayor 'Jv f 1/, 1 . \ .· ~YrJ~w -:~ 11~ 11/ fAui_ _ _; t'...--ARARBARA ENGLESON, ~,li,1,iCilWk "':U i.::.:. ,,,,,,~ CA~,,,,,,. "'o~ 'Tl.. ~ (SEAL) §~ .. ·m··· •v•.~J\ ,:c-: ~ ·.-v~ \CJ(~ ~}CJ ~~-----~---·· ~ 'l,, -A1·············~\.~~ "",,'-fFoo:~' ~ '/,,,,, n \,,,,-... I/IJ/llitllli\\\\\l June 23, 2020 Item #1 Page 3 of 6 Attachment A Terie Rowley From: Sent: To: Cc: Subject: Hi Ed, Rennetta Poncy <rponcy@alliant.com> Monday, June 1, 2020 12:42 PM Ed Garbo Jennifer C. Rodriguez; Banesa Laird; Terie Rowley RE: APIP -Property Update We have an adjustment to the premium below. This is for ACV on the auto physical damage. We do not have a quotation with RC on the auto physical damage at this time. We will.check into that. The revised premium is $275,111,61 We will have the actual proposal before out meeting on the 10th. Please let us know if you have any questions. Regards and Thanks, Rennetta Poncy Senior Vice President Public Entity Group Alliant Insurance Services, Inc. License #OC36861 (949) 660-8107 Direct (949) 756-2713 Fax (714) 403-3767 Cell E-mail: rponcy@alliant.com * note new e-mail address This email and its attachments are for the exclusive use of the intended recipients, and may contain proprietary information and trade secrets of Alliant Insurance Services, Inc. and its subsidiaries. This email may also contain information that is confidential, or otherwise protected from disclosure by contract or law. Any unauthorized use, disclosure, or distribution of this email and its attachments is prohibited. If you are not the intended recipient, let us know by reply email and then destroy all electronic and physical copies of this message and attachments. Nothing in this email or its attachments is intended to be legal1 financial, or tax advice, and recipients are advised to consult with their appropriate advisors regarding any legal, financial1 or tax implications. From: Rennetta Poncy Sent: Friday, May 29, 2020 3:53 PM To: 'Ed Garbo' <Ed.Garbo@carlsbadca.gov> Cc: Jennifer C. Rodriguez <jcrodriguez@alliant.com>; Banesa Laird <blaird@alliant.com>; Terie Rowley <Terle.Rowley@carlsbadca.gov> Subject: RE: APIP -Property Update Hi Ed, The program is not yet finalized and as of today they would not provide rates. They are expected to have it complete next week. At this time I would estimate $274,000 based on your Total Insured Values of: $275,437,805, which represents a 25% rate increase. I also wanted to remind you that they will not be offering the $18 limit at renewal. We 1 June 23, 2020 Item #1 Page 4 of 6 are anticipating it being reduced to $500,000,000. I will let you know as soon as we have the final premium which I might be able to get ahead of the proposal. I have also attached a property market update that might be helpful as you write up your report. Hope you have a good weekend! I will touch base early next week. Thanks, Rennetta Poncy Senior Vice President Public Entity Group Alliant Insurance Services, Inc. License #OC36861 (949) 660-8107 Direct (949) 756-2713 Fax (714) 403-3767 Cell E-mail: rponcy@alliant.com * note new e-mail address From: Ed Garbo [mailto:Ed~Garbo@carlsbadca.gov] Sent: Friday, May 29, 2020 11:14 AM To: Rennetta Poncy <rponcy@alliant.com> Cc: Jennifer C. Rodriguez <jcrodriguez@alliant.com>; Banesa Laird <blaird@alliant.com>; Terie Rowley <Terie.Rowley@carlsbadca.gov> Subject: RE: APIP -Property Update Importance: High This message has originated outside the organization. Hi Renetta, I'm doing the Council memos for our property renewal. What number should I place for the estimated property premium. I will also need this in writing. I need the number no later than Monday. Thanks, {'cit:yof Carlsbad Ed Garbo Risk Manager 1635 Faraday Ave. Carlsbad, CA 92008 ed.garbo@carlsbadca.gov T-760-602-2471 F-760-602-8555 2 June 23, 2020 Item #1 Page 5 of 6 C-760-814-4288 From: Rennetta Poncy <rponcy@alliant.com> Sent: Tuesday, April 28, 2020 9:41 AM To: Ed Garbo <Ed.Garbo@carlsbadca.gov> Cc: Jennifer C.Rodriguez<jcrodriguez@alliant.com>; Banesa Laird <blaird@alliant.com>; Terie Rowley <Terie.Rowley@carlsbadca.gov> Subject: APIP -Property Update Hi Ed, I hope you are doing well. We are all doing good. Still working remotely full time. When we discussed the property renewal early on. I believe we discussed the possibility of an adjustment being made to the overall limit. We were just notified that the carriers no longer want to offer Carlsbad the $1Billion limit. At this point, we believe the limit will be reduced to $S00M. As you know, the City's TIV is approximately $280M. Therefore, I don't foresee this change to be an issue. As an FYI, this is not specific to Carlsbad. Limits are being adjusted for all members based on their values. Please give us a call wlth any questions or concerns you may have. We will keep you updated as information becomes available. Stay safe and healthy! Rennetta Poncy Senior Vice President Public Entity Group Alliant Insurance Services, Inc. License #OC36861 (949) 660-8107 Direct (949) 756-2713 Fax (714) 403-3767 Cell E-mail: rponcy@alliant.com * note new e-mail address This email and its attachments are for the exclusive use of the intended recipients, and may contain proprietary information and trade secrets of Alliant Insurance Services, Inc. and its subsidiaries. This email may also contain information that is confidential, or otherwise protected from disclosure by contract or law. Any unauthorized use, disclosure, or distribution of this email and its attachments is prohibited. If you are not the intended recipient, let us know by reply email and then destroy all electronic and physical copies of this message and attachments. !\lathing in this email or its attachments is intended to be legal, financial, or tax advice, and recipients are advised to consult with their appropriate advisors regarding any legal, financial, or tax implications. CAUTION: Do not open attachments or click on links unless you recognize the sender and know the content is safe. CAUTION: Do not open attachments or click on links unless you recognize the sender and know the content is safe. 3 June 23, 2020 Item #1 Page 6 of 6