HomeMy WebLinkAboutR-2014-049 Purchase Property & Equipment Insurance from Cowell Insurance Group RESOLUTION NO. R — 2014-049
A RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY AND EQUIPMENT
INSURANCE FROM COWELL INSURANCE GROUP INC FOR THE ANNUAL PREMIUM
RENEWAL IN AN AMOUNT NOT TO EXCEED $65,891.00
WHEREAS, the City of Riverside has a need for commercial property and equipment floater
insurance; and
WHEREAS, the City of Riverside in the adoption of its purchasing policy requires all
expenditures in excess of$10,000 to be presented to the Board of Aldermen for approval and the
City's insurance carrier for commercial property and equipment floater insurance has presented an
invoice in the amount of$65,891.00 for annual renewal of such insurance coverage; and
and WHEREAS, funds for such purpose were budgeted in the Fiscal Year 2013-2014 budget;
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City of
Riverside to authorize acquisition and renewal of such insurance coverage and approve the
payment to Cowell Insurance Group, Inc. for commercial property and equipment floater insurance
coverage for the City of Riverside, in an amount not to exceed $65,891.00.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY
OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT, the acquisition and renewal of such insurance coverage and payment to Cowell
Insurance Group, Inc. for commercial property and equipment floater insurance coverage for the
City of Riverside, in an amount not to exceed $65,891.00 is hereby authorized and approved; and
FURTHER THAT the Mayor, City Administrator, or either of their designees, are hereby
authorized to execute all documents necessary or incidental to this transaction and the City Clerk is
authorized to attest thereto.
PASSED AND ADOPTED bv the Board of Aldermen and APPROVED by the Mayor of
the City of Riverside, Missouri, theday of July, 2014:
1
Mayor Kathleen L. Rose
N
ATT T.'
Robin Littrell, ity Clerle
/EMCInsumance Companies
EMPLOYERS MUTUAL CASUALTY COMPANY PRIOR POLICY: 187-55-26
C O M M E R C I A L O U T P U T P R O G R A M D E C L A R A T I O N S
*---------------------*
POLICY PERIOD: FROM 05/29/14 TO 05/29/15 * POLICY NUMBER
AT YOUR MAILING ADDRESS SHOWN BELOW * 1 B 7 - 5 5 - 2 6---15
*----------------------
N A M E D I N S U R E D P R O D U C E R :
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CITY OF RIVERSIDE COWELL INSURANCE GROUP, INC.
2950 NW VIVION RD 10525 N AMBASSADOR DR STE 301
RIVERSIDE MO 64150-1502 KANSAS CITY MO 64153-1284
AGENT: AK 7486
AGENCY BILL AGENT PHONE: 816-587-4419
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
INSURED IS: CITY BUSINESS DESC: MUNICIPALITY
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SEE ATTACHED SCHEDULES FOR DESCRIPTION OF COVERED PROPERTY/
COVERAGE PROVIDED, OPTIONAL, ADDITIONAL & SUPPLEMENTAL
COVERAGES, DEDUCTIBLES, ENDORSEMENTS AND SPECIAL
INTERESTS.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
POLICYWIDE INFORMATION
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P R E M I U M
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NON-REPORTING FORM PREMIUM $ 50, 131.00
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PROPERTY PREMIUM $ 50, 131. 00
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TOTAL PROPERTY PREMIUM $ 50, 131. 00
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FORMS APPLICABLE: (FORMS SHOWN ON THE COMMON DECLARATIONS ARE NOT APPLICABLE
TO THIS SECTION)
CLO100 (03/99) , CL0167 (05/05) , CL0600 (01/08) 1 CL0700 (10/06) ,
CO0323 (09/13) *, C01000 (10/02) , CO1080 (ll/03) , CO1092 (07/13) *,
CO1227 (05/02) , CO1238 (04/02) , CO1293 (11/03) , CO7115 (03/07) ,
CP7011A(05/07) , CP7012A(05/07) *, CP7013A(05/07) *, IL7004 (12/12) *,
IL7131A(04/01) *, ILB383.5 (01/08) *, IL8384A(01/08)
Refer to prior distribution(s) for any forms not attached
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DATE OF ISSUE: 06/26/14 (BPP)
FORM: CP A( - ) BPP LS IB75526 1501
/EMCInsumnoe Companies
EMPLOYERS MUTUAL CASUALTY COMPANY PRIOR POLICY: 1C75526
C O M M E R C I A L I N L A N D M A R I N E D E C L A R A T I O N S
*-----------------------*
POLICY PERIOD: FROM 05/29/14 TO 05/29/15 * POLICY NUMBER
* 1 C 7 - 5 5 - 2 6---15
*------------------------*
N A M E D I N S U R E D P R O D U C E R :
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CITY OF RIVERSIDE COWELL INSURANCE GROUP, INC.
2950 NW VIVION RD 10525 N AMBASSADOR DR STE 301
RIVERSIDE MO 64150-1502 KANSAS CITY MO 64153-1284
AGENT: AK 7486
AGENCY BILL AGENT PHONE: 816-587-4419
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
INSURED IS: CITY BUSINESS DESC: MUNICIPALITY
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SEE ATTACHED SCHEDULE FOR LIMITS AND DESCRIPTION OF COVERAGES
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C
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C 0 V E R A G E S H E A D I N G S P R E M I U M
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CONTRACTORS EQUIPMENT $ 14, 899. 00
ELECTRONIC DATA PROCESSING $ 761. 00
#WATERCRAFT COVERAGE $ 100. 00
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TOTAL INLAND MARINE PREMIUM $ 15, 760.00
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A DEDUCTIBLE MAY APPLY FOR THE COVERAGE PROVIDED. IN THE EVENT A LOSS
(OTHER THAN EARTHQUAKE) INVOLVES COVERED PROPERTY AT MORE THAN ONE
LOCATION OR IN MORE THAN ONE CLASS, ONLY ONE DEDUCTIBLE, THE LARGEST
DEDUCTIBLE SHOWN ON THE SCHEDULE FOR THE LOCATION OR CLASSES INVOLVED
IN THE LOSS, WILL APPLY PER OCCURRENCE.
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FORMS APPLICABLE: (TO THE ABOVE COVERAGES INDICATED WITH A POUND SIGN #)
CL0167 (05/05) , CL0170 (09/13) *, CM0001 (09/04) , CM0118 (11/13) *,
CM7001A(09/97) *, CM7002 (09/00) , CM7021 (11/01) , CM7481 (06/97) ,
CM7482 (06/97) , IL0274 (02/13) , IL0952 (03/08) , IL7131A(04/01) *,
IL7306 (08/98) , IL8383.5 (01/08) *, IM2250 (07/13) *
Refer to prior distribution (s) for any forms not attached
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
FORMS APPLICABLE : (TO ALL OTHER COVERAGES )
FORM IL0017 ON THE COMMON DECLARATIONS DOES NOT APPLY TO THE FOLLOWING:
CL0100 (03/99) , CL0167 (05/05) , CL0170 (09/13) *, CL0600 (01/08) ,
CL0700 (10/06) , CM7001A(09/97) *, CM7004 (09/06) , CM7021 (11/01) ,
CM7497 (10/08) , IL0274 (02/13) , IL7131A(04/01) *, IL7306 (08/98) ,
IL8383.5 (01/08) *, IM2051 (09/13) *, IM2250 (07/13) *, IM7000 (04/04) ,
IM7200 (10/02) , IM7238 (10/02)
Refer to prior distribution (s) for any forms not attached
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DATEOF ISSUE: 06/26/14 (BPP)
FORM: CM A ED. 9-97 BPP LS lC75526 1501