The URL can be used to link to this page

Home My WebLink About1997-08-05; Municipal Water District; 378; Property, Boiler & Machinery InsuranceCARLSBAD M”“llClPAL WATER DISTRICT - YENDA BILL hk n AB# 338’ TITLE: DEPT. i%. % MTG. a/5/97 PROPERTY, AND BOILER AND MACHINERY INSURANCE CITY ATTY @ DEPT. RM CITY MGR.% RECOMMENDED ACTION: Approval of Resolution No. 98 6 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 Entity 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 a member. 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% less than the premium paid last year. This is based on an increase in the number of participants in the program and the overall favorable loss record of program members. Staff recommends renewal of the City’s and CMWD’s 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 $38,375. Sufficient f?mds are available in the Insurance Premium Account. EXHIBITS 1. Resolution No. 9 8 6 2. Public Entity Property Insurance Program Summary of Coverage and Limits 3. Public Entity Property Insurance Program Boiler and Machinery Program EXHIBIT 2 PUBLIC ENTITY PROPERTY INSURANCE PROGRAM (PEPLP) ALL RISK PROPERTY INSURANCE PROPOSAL NAMED INSURE& Public Entity Property Insurance Program including: PARSAC Group (See attached for Complete Named Insured) MAILING ADDRESS: do R&at F. Driver Co., Inc. P.O. Box 6450 Newport Beach, CA 926584450 PROPOSED EJWEC’IIVEDATE: May 15,1997 to May 15,199s . COVERAGE: All Risk of Dire& Physical Loss or Damage w Earthquake and Flood. Coverage includes: 1. Reai Property and Personal Property 2. Rental Income including Bond Revenue Requirements 3. Business Interruption (Where applicable) 4. F.hdraBxpense 5. Valuable Papers and Records 6. Accounts Receivable 7. EDP Equipment, Medii and Extra Expense 8, Own- Vehicles See attkchd spreadsheet 9. Demolition and Increased Cost of Construction 10. DehrisRemov~ 11. Contingent Liability due to Buildii Codes 12. Transit 13. Archite~&‘, Engind Fees and Claim Cousultant Fees 14. Course of Construction on PFemises or within 1,000 R 15. Mobile Equipment, Contractor ‘Qpe Equipment 16. Service Interruption f?om Public and Private Utilities 17. Tax Interruption (Per attached summary schedule) 18. RepIacement Cost and Agreed Amount (all eovemges except auto per wparate statement) 19. 90 Day Notice of Cancellation exoept 10 days fbr Non-Payment 20. Cove-rage not Cbfined to Schedule 21. Automatic Cwerage - reprt newly acquired locations within 120 Days (applicable to new coverages, and changes over $5,000,000 In value) 22. ExpeditinsBxpense 23. Emrs and Omissions 24. Pine Arts 25. FireDepartmentSewiceCha~es 26. VacanayClause-Doleted 27. J~~~JAss AgmmentwttfiBoiler CarrlHs) LlMITs: suBLIMrrs: 27. Joint Loss Agreement with Boiler Carrier(s) 28. Transmission Lines On Premises unless separate values reported for “Off Premises”. 29. Auto Coverage - Per attached spreadsheet $500,000,000 Loss Liiit Per Occurrence subject to a maximum limit of $250,000,000 per location on all coverages except as follows: 1. Valuable Papers and Records 2. Accounts Receivable 3. Transit 4. Architects, Engineers and Claim Consultant Fees 5. Mobile and Contractor type Equipment 6. Fine Arts (Unscheduled) 7. Service Intetruption 8. Rxpediting Expense 9. Newly Acquired Locations 10. Vacancy Clause 10,000,000 10,000,000 5,000,000 2,750,OOO 5,000,000 1 ,ooo,OOo 5,000,000 500,000 5,000,000 5,000,000 (tTipo after 90 ~YS) 9 , 2,500,OOO 5,000,000 50,000,000 11. Ekors and Omissions 12. Replacement Power Extra l?Jpew at utiiity Locations 13. ExtraExpense 14. Demolition &Increased Cost of Construction - DEDUCFIBm TOTALINWRED VALUES: ANNUAL- Per Attached Premium Allocation Sheet $402,653,322 Per the Attaohed Premium Allocation Sheets BROKER: Ralph S. Hurst, Vice President PEPIP Program Manager Martin S. Heflin, Fi Vice President PEPIPAssislantMfKlager PUBLlC AGENCY RISK SHARING AUTHORlTY OF CALIFORNIA (PARSAC) . NAiVlED INSURED Cii of Amador City City of Blue Lake Cii of Calimesa City of Calistoga Cii of Canyon Lake , City of Carlsbad, (Carlsbad Parking Authority, Carlsbqd Building Authority, and Carlsbad Housing and Redevelopment Commission, consisting of Carlsbad Redevelopment Agency and Carlsbad Housing Authority, Cadsbad Municipal Water District) Cii of Clearlake City of Coalinga Cii of Hesperia, Hesperia Water District Cii of Highland city of Pacific Grove Cii of Placentia Cii of Placerville cii of Plymouth City of Ranch0 Cucamonga Cii of Rialto Cii of Ridgecrest Cii of San Juan Bautista Cii of Tehama Cii of Trinidad Town of Truckee Cii of Twentynine Palms City of Watsonvllle City of Wheatland Town of Yountville City of Yucalpa Town of Yucca Valley, The Redevelopment Agency of the Town of Yucca Valley Yucca Valley Community Center Authority 07/18/97 ASid- r.-u Yiblzi4uTc8 rAA-iLL%L t-r-+ CdtL>b.ti k&UC;, uu.4 . EXHIBIT 3 PAJBLIC ExwrrY PR0PltR’l-Y NWRANCE PROGRAM (PEPIP) BOLLERAND MACHINERYCO~~GE INSLTRANCE~OMPANY: TERM: ; COVElUGE:’ LIMm , I SuBIlMITS: ~DIT&EXPlWE I AMMONIA CONTAMINATION EhARDOljS&JBSTNWE DEMOUTIfiN/INCEEASED COST Cj! CC~NSTIWCTION Kemper May IS,1997 to May 15,1998 sameasPrcseIlt $50,000,000 combii limit (property Damage and Busiacss Intpmrption) $ 500,000 $ 1,000,000 $ 500,ooo $ 500,000 s 250,000 $ 1 ,ooo,ooo $ 5,000,000 07/'18/97 13i4-1 F-.+.X 01692731i75 -. I.IRSA(; +--t L4lasd.U % UUJ- UUJ I d PROPERTY AMAGE DEDUCTIBL@: CONSEQI.IE L LDAMAGE TIM-&T DEDUCTlBL~& BusDlEss I~RRupnoHl EXTRA E~ENSE % 375,000 All objects over 25,000 HP, 25,000 KW/KVA/AMPS or Railer13 nvcr 250,000 squat= heating fiurfhcc $ 250,000 All objects over 750 HP, lO,ooO KW/KVA/MS, or Boilers over 75,000 square fart h&g eurfpce $ 50,000 All objects over 350 HP, 2$oO KWACVNAMPS, m Boilers owr 10,ooo square feaheating surface % 2,500 All other insured objects As respects City of Buhuk s 250,000 All P0wcrPIants $ 100,ooo All0tlmrLocations !I 5,000 5x 100% Daily vaw au objects owr 750 m, 10,000 KW/KVA/AMPS or 10,000 square feet heating surkc 5X 100% Daily Value all objects at Wastewater Tiwmmlt fiicillti~ utilldes and SW 24 Hours aU other insured objects 30 days Bond Revenue Inter& Payments FORACO POLKX. TE LISTING OF ALL TERMS AND CONDITIONS, PLEASE REFER TO YOUR 07/18;97 15:45 F.U 9169273075 PARSAC +-‘) CARLSBti guu4~uo4 , I PUBLIC ENTITY PROPERTY MSWCE PROGRAM (I-PIP) BOILER AND MACHINERY NAMED I’lVSUFUD Public Age& Risk Sharing Authority of California (PAMAC)and its members consisting of: City of @&bad Ctulsbiq Parking Authority Carls~ Building Authority Carl&ad Mousing and Redevelopment Qnnmission, consisimg of: C!!rl,shad Redevelopment Agency Carl’bad Housing Authori@ % Ch$b& Municipal Water District City of Placentia city of Placervillt City of Ffdto City of gan Juan Bautista city of ‘cchamsl City of Twentynine Palms I WL\WolD\p%DR 4 ‘IM\oWS.?U . 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. 986 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT, CARLSBAD, CALIFORNIA, AUTHORIZING THE RENEWAL OF PROPERTY INSURANCE FOR CARLSBAD MUNICIPAL WATER DISTRICT PROPERTIES WHEREAS, the CMWD has previously maintained property and boiler and machinery insurance for assets; and WHEREAS, the CMWD 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 boiler and machinery insurance, the CMWD desires to renew its insurance through the Public Agency Risk Sharing Authority of California. NOW, THEREFORE, be it resolved by the Board of Directors of the Carlsbad Municipal Water District, Carlsbad, California, as follows: 1. That the above recitations are true and correct. 2. That the renewal of CMWD 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. II I . . 1 PASSED, APPROVED AND ADOPTED at a Regular Meeting of the 2 Board of Directors of the Carlsbad Municipal Water District on the 5 th day of AUGUST 3 1997, by the following vote, to wit: 4 AYES: Board Members Lewis, Finnila, Nygaard, Kulchin, Hall 5 NOES: None 6 7 8 9 10 11 ABSENT: None 12 ATTEST: 13 14 15 ALETHA L. RAUTENKRANZ, Secretary 16 17 18 19 / 20 21 22 23 24 25 26 27 . 28