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HomeMy WebLinkAbout2016-06-28; City Council; 22327; RENEWAL OF PROPERTY INSURANCE COVERAGE THROUGH ALLIANT INSURANCE SERVICES INC'S PUBLIC ENTITY PROPERTY INSURANCE PROGRAM FOR FY 2016-17 IN AN AMOUNT NOT TO EXCEED $156,608.38CITY OF CARLSBAD -AGENDA BILL 5 AB# 22,327 RENEWAL OF PROPERTY INSURANCE DEPT. DIRECTOR -~-\ > ""--'4 MTG. 6/28/16 COVERAGE THROUGH ALLIANT INSURANCE CITY ATTORNEY M_ DEPT. ASD/RISK SERVICES INC.'S PUBLIC ENTITY PROPERTY CITY MANAGER INSURANCE PROGRAM (PEPIP) FOR FISCAL i ~ {/ YEAR 2016-171N AN AMOUNT NOT TO EXCEED $156,608.38 RECOMMENDED ACTION: Adopt a resolution approving the purchase of property insurance through Alliant Insurance Services, Inc.'s Public Entity Property Insurance Program for fiscal year 2016-17 in an amount not to exceed $156,608.38. ITEM EXPLANATION: The city participates in the Alliant Insurance Services, Inc.'s (AIIiant) joint purchase program known as APIP Alliant Property Insurance Program. For FY 2016-17 Alliant negotiated the City's property insurance renewal with APIP. A summary of property coverage is shown in Exhibit 2 and this coverage is similar to coverage in the current policy. The Account Rate used for valuing city property dropped by approximately 1 percent but a slight rise in total property value caused our premium to increase by about 1 percent. FISCAL IMPACT: Fiscal year 2016-17 estimated premium for APIP property insurance coverage will not exceed $156,608.38. This represents a $1,348.90 increase in premium over last year. The premium will be paid with funds from the FY 2016-2017 Liability Fund. The Carlsbad Municipal Water District is also insured under this coverage and contributes to the premium through the budget process. ENVIRONMENTAL IMPACT: This action is not a "project" within the definition of the California Environmental Quality Act in that it does not have a direct or indirect impact on the physical environment under California Code of Regulations, Title 14, Chapter 3, section 15378. DEPARTMENT CONTACT: Ed Garbo, (760) 602-2471, ed.garbo@carlsbadca.gov FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED DENIED CONTINUED WITHDRAWN AMENDED li D D D D CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF OTHER-SEE MINUTES D ____ _ D D D Item No. 5 - AB #22,327 June 28, 2016 Page 1 of 5 Page 2 EXHIBITS: 1. A resolution approving the purchase of property insurance through Alliant's Property Insurance Program (APIP) 2. Insurance Invoice Item No. 5 - AB #22,327 June 28, 2016 Page 2 of 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 2016-122 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE PURCHASE OF PROPERTY INSURANCE THROUGH ALLIANT SERVICES INC.'S PROPERTY INSURANCE PROGRAM (APIP) FOR FISCAL YEAR 2016117 IN AN AMOUNT NOT TO EXCEED $156,608.38 EXHIBIT 1 WHEREAS, the City desires to renew its property insurance through Alliant Insurance Services, Inc.'s Alliant Property Insurance Program (APIP); and WHEREAS, Alliant Insurance Services has negotiated a renewal of property coverage for the next fiscal year beginning July 1, 2016 and concluding on June 30, 2017 for an annual premium in an amount not to exceed $156,608.38; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as follows that: 1. The above recitations are true and correct. 2. That the purchase of property coverage through the Alliant Property Insurance Program, effective July 1, 2016 to June 30, 2017, is hereby approved and the Administrative Services Director is authorized to issue a warrant in the amount of $156,608.38 for the payment of the premium to Alii ant Insurance Services, Inc. II II II II II II Item No. 5 - AB #22,327 June 28, 2016 Page 3 of 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of Carlsbad on the 28th day of June, 2016, by the following vote to wit: AYES: Hall, Wood, Schumacher, Blackburn, Packard. NOES: None. ABSENT: None. ~ 2!JHALL,Mayor (SEAL) Item No. 5 - AB #22,327 June 28, 2016 Page 4 of 5 INVOICE Alliant Insurance Services Inc. 1301 Dove Street Suite 200 Newport Beach, CA 92660 NAMED INSURED: City of Carlsbad INVOICE DATE: May 26, 2016 CUSTOMER NUMBER: CARLSBA-01 EFFECTIVE DATE: July 1,2016 INVOICE NUMBER: 1034191 INSURANCE CO: Various POLICY NUMBER: PPROP1617 Total Property Premium: ABS Fee: Estimated SLT&F's Broker Fee: • • ••••• • ALL RISK PROPERTY SUBTOTAL $ 145,085.00 $ 3,989.00 $4,732.38 $ 0.00 $ 153,806.38 ENN:r TOTAL DUE AT THIS TIME $ 156,608.38 t::?ii•§A§0.04•NRif, INSURANCE CO: Various INVOICE NUMBER: 2034191 POLICY NUMBER: PBOILER1617 EXCESS BOILER & MACHINERY SUBTOTAL : $ 2,802.00 Total Due includes Premiums, Taxes and Fees where applicable. The Cyber Enhancement premium, should you have elected to purchase this coverage, is not included as part of this invoice. Please return a copy of the invoice with your payment. Premiums are due and payable upon receipt ofthis invoice but no later than July 21, 2016. If payment is not received by the due date, policies maybe subject to cancellation. Alliant embraces a policy of transparency with respect to its compensation from insurance transactions. Details on our compensation policy, including the types of income that Alliant may eam on a placement, are available on our website at www.alliant.corn, For a copy of our policy or for any inquiries regarding compensation issues pertaining to your account you may also contact us at: Alliant Insurance Services, Attention: General Counsel, 701 B Street, 6th Floor, San Diego, CA 92101. Item No. 5 - AB #22,327 June 28, 2016 Page 5 of 5