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Home My WebLink AboutR-2015-023 Purchase Insurance Cowell Insurance Group, Inc. RESOLUTION NO. R- 2015-023 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 $61,010.00 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$61,010.00 for annual renewal of such insurance coverage; and WHEREAS, funds for such purpose were budgeted in the Fiscal Year 2014-2015 budget; and 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 $61,010.00. 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 $61,010.00 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 by the Board of Aldermen and APPROVED by the Mayor of the City of Riverside, Missouri, the 1 72f day of May, 2015. o ti, a Mayor Kathleen L. Ros , a 6TTLS ovd d Robb,,tfttf�I(,..Qit�tlerk Cowell Insurance Group Inc. 10525 NW Ambassador Drive e« F City of Riverside Suite 301 569 Kansas City, MO 64153 05/15/2015 Christian Fuller Janet Pittenger 1of1 ROOM, 61,010.00 City of Riverside tib Invoice#72703 2950 NW Vivion Road Riverside,MO 64160 1X7552616 `iPruilc You r'lense: del.arh and rCturn vMh payment Customer:City of Riverside Policy#1X7552616 05/29/2015.05129/2016 Employers Mutual Companies 72703 05/29/2015 Renew policy Inland Marine -Renew policy 14,114.00 Commercial Property-Renew policy 46,896.00 61,010.00 Thank Yost Cowell Insurance Group Inc. (816)587-4419 " 10525 NW Ambassador Drive Suite 301 05/15/2015 Kansas City, MO 64153 /EMC INSURANCE EMC Insurance Companies PO Box 25470 Overland Park, KS 66225-5470 www.emcins.com Cowell Insurance Group Inc. 10525 N Ambassador Dr Site 301 Kansas City MO 64153-1284 816-587-4419 CITY OF RIVERSIDE 2950 NW VIVION RD RIVERSIDE, MO 64150-1502 05/29/2015 to 05/29/2016 Prepared on 05/07/2015 Quote Valid Through 06121/2015 Account Summary Quote Account Number: X320027 Commercial Output(B-11) $ 46,896.00 Commercial Inland Marine (C-02) $ 14,114.00 Total Account Premium Estimate $ 61,010.00 This is a proposal from EMC Insurance Companies. We offer personalized service through your independent insurance agent, customizable Insurance products to meet your unique needs and expert safety resources to help your business prevent claims. The premium estimate reflects the rates as of the date shown above and assumes the information provided to EMC is accurate.' Please review the following pa as for coverage details. For more information on the advantages of insuring your business with EMC, talk to your insurance agent or visit www.emoins.com. Thank you, Cowell Insurance Group, Inc. Prior Account Number- 1X75526 *This proposal does not guarantee the policy will be accepted or that coverage will be provided in the company selected or at the premium quoted. Due to periodic rate changes, a change to the policy's effective date may result in a different premium. Prepared for:CITY OF RIVERSIDE 0071007 LS 1 of 21 /EMC INSURANCE EMPLOYERS MUTUAL CASUALTY COMPANY QUOTE NUMBER: C320027-02 Q U O T A T I O N - C O M M E R C I A L I N L A N D M A R I N E QUOTATION IS VALID: FROM 05/07/15 TO 06/21/15 PROPOSED POLICY PERIOD: FROM 05/29/15 TO 05/29/16 P R E P A R E D F O R P R E S E N T E D B Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 ------------------------------------------------------------- C O V E R A G E S H E A D I N G S P R E M I U M ----------------------------------------------- -------------- CONTRACTORS --------------------------------------------- CONTRACTORS EQUIPMENT $ 13,253.00 ELECTRONIC DATA PROCESSING $ 761.00 #WATERCRAFT COVERAGE $ 100.00 -------------------------------------------------------------------------- TOTAL INLAND MARINE PREMIUM $ 14, 114.00 ------------------------------------------- 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. AS QUOTED ON: 05/07/2015 Prepared for: CITY OF RIVERSIDE 007/007 LS 13 of 21 AWEMC INSURANCE EMPLOYERS MUTUAL CASUALTY COMPANY QUOTE NUMBER: B320027-11 Q U O T A T I O N - C O M M E R C I A L O U T P U T P R O G R A M QUOTATION IS VALID: FROM 05/07/15 TO 06/21/15 PROPOSED POLICY PERIOD: FROM 05/29/15 TO 05/29/16 P R E P A R E D F O R: P R E S E N T E D B Y: - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - POLICYWIDE INFORMATION ---------------------- P R E M I U M --------------- NON-REPORTING FORM PREMIUM $ 46,896. 00 -------------- PROPERTY PREMIUM $ 46, 896. 00 ------ ------------------------------ TOTAL PROPERTY PREMIUM $ 46, 896.00 ------------------------------------------- AS QUOTED ON: 05/07/2015 Prepared for:CITY OF RIVERSIDE 007/007 LS 2 of 21