DEPARTMENT: Office of Risk Management
DEPARTMENT HEAD: Debra M. Ojo, MPA
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT: Renewal of Commercial Insurance Policies
SUMMARY: This ordinance authorizes the City Manager or his designee to procure premiums for the City of San Antonio's commercial insurance policies identified below with total compensation not to exceed $6,636,744, appropriate funds in the amount of $1,209,620 from the Liability Insurance Fund, and amend the FY 2021 Adopted Budget. With the exception of the Property/Equipment policy, the term of these policies is effective from October 1, 2020 through September 30, 2021. The Property/ Equipment policy is changing renewal cycles; therefore this policy effective date would be October 1, 2020 thru July 1, 2022. The FY 2021 total cost of these Commercial Insurance Policies is $4,312,567.50. Each policy recommendation offers policy terms, limits and conditions comparable to expiring policies with premiums based on current market trends. The policies, their coverage, and premiums are:
* Aircraft Hull and Liability covers SAPD helicopters and special equipment
* Old Republic Insurance Company - $169,563
* Airport Owners and Operators Liability offers protection against third-party claims on airport grounds
* Old Republic Insurance Company - $60,876
* Cyber Liability Insurance offers protection against cybercrimes
* Primary Layer - $10M - AXIS Insurance Company - $231,293
* Secondary Layer - $10M Excess of $10M - Allied World Specialty Insurance - $156,213
* Excess Workers' Compensation (Stop Loss)
* Chubb Insurance - $547,488
* Property/Equipment Breakdown covers the City's facilities, boilers and machinery
* APIP -
* 10/1/20 - 7/1/21 - $2,317,809
* 7/1/21 - 7/1/22 - $3,098,902
* Terrorism and Sabotage for protection of city property and loss of income due to terrorism
* Ironshore Lloyds of London - $54,600
BACKGROUND INFORMATION:
April 2020, the Office of Risk Management (ORM), in coo...
Click here for full text