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Home My WebLink About1997-08-05; City Council; 14291; PROPERTY AND BOILER AND MACHINERY INSURANCEZ 0 F= 0 a 6 8 z 3 CITWF CARLSBAD - AGEN- BILL L- :'" AB ' - TITLE: PROPERTY, AND BOILER AND MACHINERY DEPT MTG. 8/5/97 INSURANCE CITY, DEPT. RM CITY RECOMMENDED ACTION: 55 y Approval of Resolution No. 93- authorizing the expenditure of $38,375 for continued participation in the Public Entity Property Insurance Program. ITEM EXPLANATION On October 5, 1993, Council and the Carlsbad Municipal Water District (CMWD) Board approved the placement of the City's and CMWD's property insurance with the Public Entit! Property Insurance Program, a program developed by the Robert F. Driver Company for public agencies. Coverage under this program is purchased through the Public Agency Risk Sharing Authority of California (PARSAC), the joint powers authority of which the City is : member, and the cost is allocated to departments based on claims experience and departmen size. The premium to renew the property insurance for the period May 15,1997 through May 15, 1998 (coverage was bound pending Council and Board action) is $38,375, which is 12% les than the premium paid last year. This is based on an increase in the number of participants i the program and the overall favorable loss record of program members. Staff recommends renewal of the property insurance under the Public Entity Property Insurance Program through PARSAC. Continued coverage under this program will be evaluated annually with a staff recommendation to Council and the Board accordingly. FISCAL IMPACT The property and boiler and machinery insurance premium is $3 8,375. Sufficient funds are available in the Insurance Premium Account. EXHIBITS 1. 2. 3. Resolution No. 9 7- 557 Public Entity Property Insurance Program Summary of Coverage and Limits Public Entity Property Insurance Program Boiler and Machinery Program , 1 2 3 4 5 6 7 8 9 10 11 l2 13 14 15 16 17 18 19 2o 2111 0 0 RESOLUTION NO. 97-554 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE RENEWAL OF PROPERTY INSURANCE WHEREAS, the City has previously maintained property and boiler and machinery insurance for assets; and WHEREAS, the City has received quotations for the continuation of coverage from the Public Agency Risk Sharing Authority of California; and WHEREAS, upon evaluation of the quotations for both property and boile and machinery insurance, the City desires to renew its insurance through the Public Agency Risk Sharing Authority of California. NOW, THEREFORE, be it resolved by the City Council of the City of Carlsbad, California, as follows: 1. 2. That the above recitations are true and correct. That the renewal of property insurance through the Public Agency Risk Sharing Authority of California is hereby approved and the Financial Management Director is authorized to issue a warrant in the amount of $38,375 for the payment of the premiums of said renewals. 22 23 24 25 26 27 28 I I I 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 @ w PASSED, APPROVED AND ADOPTED at a Regular Meeting of the Citj Council of the City of Carlsbad on the 5th day of AUGUST 1997, by the following vote to wit: AYES: Council Members Lewis, Finnila, Nygaard, Kulchin, Ha NOES: None ABSENT: None ATTEST: ALETHA L. RAUTENKRANZ, City Clerk 19 l8 20 21 22 23 24 25 26 27 28 I EXHIBIT 2 0 0 . PUBLIC ENTITY PROPERTY "CE PROGRAM (PEPIP) ALL RISKPROPERTY INSURANCE PROPOSAL NAMED INSURED: Public Entity Property Insurance Program including: PRRSAC Group (See attached for Complete Named Insured) do Robert F. Driver Co., Inc. P.O. Box 6450 Newport Beach, CA 92658-6450 MAILING ADDRESS: PROPOSED EFFECTIVE DATE: COVERAGE: May 15,1997 to May 15,1998 All Risk of Direct Physical Loss or Damage excludina. Earthquak and Flood. Coverage includes: 1. Real Property and Personal Property 2. Rental Income including Bond Revenue Requirements 3. Business Intemption (Where applicable) 5. Valuable Papers and Records 6. Accounts Receivable 7. EDP Equipment, Media and EXra Expense 8. owned/Leased Vehicles -See attached spreadsheet 9. Demolition and Incteased Cost of Construction 10. Debris Remova 1 1. Contingent Liability due to Building Codes 12. Transit 13. Architects', Engineers' Fees and Claim Consultant Fees 14. Course of Construction on Premises or within 1,000 R 15. Mobile Equipwent, Contractor 'Ijq~ Equipment 16. Service Intemption hm Public and Private Utilities 17. Tax Intemption (Per allached summary schedule) 18. Replacement Cost and Agreed Amount (all coverages ex auto per separate statement) 19. 90 Day Notice of Canoeilation except 10 days for Non-P 20. Coverage not confined to schedule 21. Automatic Coverage - report newly acquired locations F 120 Days (applicable to new coverages, and changes ov $5,000,000 in value) 4. ExtraExpense 22. ExpeditingExpense 25. PireDepartmentselYic0charges 26. vacanoyctause-De1eted 23. ErrorsandOmissions 24. FiieArtS 27. Joint Loss Agreement with Bok Me@) 0 0 27. Joint Loss Agreement with Boiler Carrier(s) 28. Transmission Lines On Premises unless separate values reportt €or “Off Premises”. 29. Auto Coverage - Per attached spreadsheet LIMITS: $500,000,000 Loss Limit Per Occurrence subject to a maximum limit of $250,000,000 per location on a11 coverages except as follows: SUBLIPVIITS: 1. Valuable Papers and Records 10,000,000 2. Accounts Receivable 10,000,000 3. Transit 5,000,000 4. Architects, Engineers and 5. Mobile and Contractor type Claim Consultant Fees 2,75 0,000 Equipment 5,000,000 7. Service Interruption 5,000,000 8. ExpeditingExpense 500,000 6. Fine Arts (Unscheduled) 1,000,000 9. Newly Acquired Locations 5,000,000 10. Vacancy Clause 5,000,000 (2,500,000 after 90 da 11. Errors and Omissions 5,000,000 12. Replacement Power Extra Expense at Utility Locations 2,500,000 14. Demolition & Increased Cost of Construction - 50,000,000 13. ExtraExpense 5,000,000 DEDUCTIBm. TOTALINSURED VALUES: $402,653,322 ANNUALPREMIUM: Per Attached Premium Allocation Sheet Per the Attached Premium Allocation Sheets BROI<ER: Ralph S. Hurst, Vice President PEPIP Program Manager Martin S. Herin, First Vice President PEPIP Assistant Manager 2 0 a PUBLIC AGENCY RISK SHARING AUTHORlTY OF CALIFORNIA (PARSAC) NAMED INSURED City of Amador City City of Blue Lake City of Calimesa City of Calistoga Ci of Canyon Lake City of Carisbad, (Carlsbad Patking Authority, Carlsbad Building Authority, and Carisbad Housing and Redevelopment Commission, consisting of Carlsbad Redevelopment Agency and Carlsbad Housing Authority, Carlsbad Municipal Water District) Ci of Clearlake Ci of Coalinga City of Hesperia, Hesperia Water District City of Highland City of Pacific Grove City of Placentia Ci of Placewille City of Rancho Cucamonga City of Rialto City of Ridgecrest City of San Juan Bautista Ci of Tehama City of Trinidad Town of Truckee City of Twentynine Palms Ci of Watsonville Ci of Wheatland Town of Yountville City of Yucaipa Town of Yucca Valley, The Redevelopment Agency of the Town of Yucca Valley Yucca Valley Community Center Authority Ci of Plymouth 41m hWW&O~Ch~.d~ I EXHIBIT 3 e 0 I WS" ENITIT PROPERTY l"CE PROGRAM REPIP) I BOILIERAMI MCRfFyERY COVERAGE I I I INSURANCE COMPANY: Kernper I I I May 15,1997 to May 15,1998 I I TERM: COVERAGE: ! Same m Present LIMIT: ~ $50,000,000 combined limit (Property Damage and Business Intaryption) l I I 1 SUBLIMITS: 1 I I I CONSEQU~~)~~~~, DAMAGE $ 500,000 -EDITIN EXPENSE $ 1,000,000 s 500,ooo WATERDA~OE AMMONIA CONTAMINATlON s 500,000 R*zrwX)k SUBSTANCE $ 250,000 1 4 i I DEM*-ON/INCREASED COST qF CONSTRUCTION $ 1 ,Ooo,~oo EELlRORs &~OA4~10N9 $ 5,000,000 ~ i 1 I I I I I ( 1 1 I I 1 --~OsPPW.UI I Treatment tacilitiw utilities and $Emu? POWCY. 2 l e e 1 I PUBLIC ENTITY PROPERTY I"CE PROGRAM (PEPIP) BOILER AND MACHINERY NAMED INSURED Public Agency Risk Sharing .4uthority of Califarnia (PARSAC)and its members consisting of: City of Cdsbad Crulsw Parking Authority Carlsw Building Authority Carlsbad Housing and Redevelopment Commission, cunsisimg of: Carl shad Redevelopment Agency Carl'bad Housing Authority Carl I bad Municipal Water District City of Placentia City of Placervillc City of pialto City of $an Juan Bautista City of T'ehama City of Twentynine Palmis 1 WL\W~~~W~S~U i I ! I I