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Home My WebLink AboutR-2019-079 Purchase Property and Equipment Insurance from Cowell James Forge Insurance $67,016.00 l RESOLUTION NO. R- 2019-079 A RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY AND EQUIPMENT INSURANCE FROM COWELL JAMES FORGE INSURANCE GROUP LLC FOR THE ANNUAL PREMIUM RENEWAL IN AN AMOUNT NOT TO EXCEED $67,016.00 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$67,016.00 for annual renewal of such insurance coverage; and WHEREAS, funds for such purpose were budgeted in the Fiscal Year 2019-2020 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 James Forge Insurance Group, LLC, for commercial property and equipment floater insurance coverage for the City of Riverside, in an amount not to exceed $67,016.00. 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 James Forge Insurance Group, LLC for commercial property and equipment floater insurance coverage for the City of Riverside, in an amount not to exceed $67,016.00 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_,g4 day of July 2019. Ma r Kathleen L. Rose AT - 'Robin-4hp id, , ity Clerk /EMC. INSURANCE EMC Insurance Companies PO Box 25470 Overland Park, KS 66225-5470 www.emcins.com CITY OF RIVERSIDE 2950 NW VIVION RD RIVERSIDE, MO 64150-1502 07/01/2019 to 07/01/2020 Prepared on 06/14/2019 Quote Valid Through 07/27/2019 Account Summary Quote Account Number: X056590 Option 001 Prior Account Number: 5X70978 Commercial Property(A-03) $ 14,439.00 Commercial Output (B-03) $ 29,009.00 Govt Crime/Fidelity ISO Package (F-01) $ 379.00 Commercial Inland Marine (C-01) $ 23,189.00 Total Account Premium Estimate $ 67,016.00 This proposal is offered through EMC Insurance Companies. EMC offers customizable insurance products to meet your unique needs and expert safety resources to help your business prevent claims. As your independent agent, we are here to offer you personalized service. The premium reflects the rates as of the date shown above and assumes the information provided is accurate.* Please review the following pages for coverage details. To discuss the advantages of insuring your business with EMC, contact us at the number listed below or visit www.emcins.com. Thank you, Cowell James Forge Insurance Group, LLC 10525 N Ambassador Dr Ste 301 Kansas City, MO 64153-1284 816-471-4245 *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 0081602 JH 1 of 39 /EMC. INSURANCE EMCASCO INSURANCE COMPANY QUOTE NO: A056590-03 Q U O T A T I O N - C O M M E R C I A L P R O P E R T Y QUOTATION IS VALID: FROM 06/12/19 TO 07/27/19 PROPOSED POLICY PERIOD: FROM 07/01/19 TO 07/01/20 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 JAMES FORGE INSURANCE 2950 NW VIVION RD GROUP, LLC RIVERSIDE MO 64150-1502 10525 N AMBASSADOR DR STE 301 KANSAS CITY MO 64153-1284 AGENT: BK 7685 DIRECT BILL AGENT PHONE: (816) 471-4245 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - INSURED IS:CITY BUSINESS DESC: MUNICIPALITY - - - - - - - - - - - - - - = - - - - - - - - - - - - - - - - - - - - - - - C O V E R A G E S P R O V I D E D P R E M I U M ----------------------------------- ------------- BUILDING $ 12, 618 .00 PERSONAL PROPERTY $ 1, 028 .00 PROPERTY ELITE EXTENSION $ 793.00 --------------------------------------------------------------------- TOTAL PROPERTY PREMIUM $ 14, 439.00 AS QUOTED ON: 06/12/19 (BPP) Prepared for:CITY OF RIVERSIDE 008/602 JH 2 of 39 ArEM INSURANCE EMPLOYERS MUTUAL CASUALTY COMPANY QUOTE NUMBER: B056590-03 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 06/12/19 TO 07/27/19 PROPOSED POLICY PERIOD: FROM 07/01/19 TO 07/01/20 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 JAMES FORGE INSURANCE 2950 NW VIVION RD GROUP, LLC RIVERSIDE MO 64150-1502 10525 N AMBASSADOR DR STE 301 KANSAS CITY MO 64153-1284 AGENT: AK 7685 DIRECT BILL AGENT PHONE: (816) 471-4245 - INSURED IS: CITY BUSINESS DESC: MUNICIPALITY - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - POLICYWIDE INFORMATION ---------------------- P R E M I U M --------------- NON-REPORTING FORM PREMIUM $ 29,009.00 ------- ------- PROPERTY PREMIUM $ 29, 009.00 ------------------------------------- TOTAL PROPERTY PREMIUM $ 29, 009.00 ------------------------------------------- AS QUOTED ON: 06/12/19 (BPP) Prepared for:CITY OF RIVERSIDE 0081602 JH 7 of 39 /EMC. INSURANCE EMPLOYERS MUTUAL CASUALTY COMPANY QUOTE NUMBER: C056590-01 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 06/14/19 TO 07/01/19 PROPOSED POLICY PERIOD: FROM 07/01/19 TO 07/01/20 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 JAMES FORGE INSURANCE 2950 NW VIVION RD GROUP, LLC RIVERSIDE MO 64150-1502 10525 N AMBASSADOR DR STE 301 KANSAS CITY MO 64153-1284 AGENT: AK 7685 DIRECT BILL AGENT PHONE: (816) 471-4245 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 EQUIPMENT $ 17, 865.00 ELECTRONIC DATA PROCESSING $ 5, 224.00 #WATERCRAFT COVERAGE $ 100.00 --------------------------------------------------------------------------- TOTAL INLAND MARINE PREMIUM $ 23, 189.00 -------------------------------------------- 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: 04/17/2019 Prepared for:CITY OF RIVERSIDE 008/602 JH 29 of 39 /EMC. INSURANCE EMPLOYERS MUTUAL CASUALTY COMPANY QUOTE NUMBER: F056590-01 G O V E R N M E N T C R I M E Q U O T A T I O N QUOTATION IS VALID: FROM 04/17/19 TO 07/01/19 PROPOSED POLICY PERIOD: FROM 07/01/19 TO 07/01/20 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 JAMES FORGE INSURANCE 2950 NW VIVION RD GROUP, LLC RIVERSIDE MO 64150-1502 10525 N AMBASSADOR DR STE 301 KANSAS CITY MO 64153-1284 AGENT: AK 7685 DIRECT BILL AGENT PHONE: (816) 471-4245 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - INSURED IS: CITY BUSINESS DESC: MUNICIPALITY - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - COVERAGE IS WRITTEN: PRIMARY SEE ATTACHED SCHEDULE FOR DESCRIPTION OF LOCATIONS, LIMITS, AND DEDUCTIBLES. C O V E R A G E S P R O V I D E D P R E M I U M ---------------------------------------- -------- EMPLOYEE THEFT - BLANKET (PER LOSS) $ 379. 00 --------------------------------------------------------------------------- TOTAL POLICY PREMIUM $ 379. 00 ------------------------------------- R AS QUOTED ON: 04/17/2019 Prepared for:CITY OF RIVERSIDE 008/602 JH 26 of 39