Label
3900SummitSt AdminBuilding
Law/Risk Management
Merritt W. Green (x1037)
Revised
Title
Authorizing the partial insurance claim settlement and the acceptance and deposit of $250,000 from Allianz Global Corporate & Specialty SE on the City's insurance claim resulting from the December 25, 2022, sprinkler system failure at the Water Reclamation Administration Building; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
On December 25, 2022, the Water Reclamation Administration Building's sprinkler system burst flooding the basement and first floor offices requiring immediate remediation/cleanup and repairs, as well as the preservation of documents. The City incurred costs associated with the remediation/cleanup, and repairs and replacement of the heating and sprinkler systems. On January 3, 2023, the City of Toledo filed its claim No. SF-USCC19599023 with Allianz Global Corporate & Specialty insurance company for reimbursement of such costs.
On January 5, 2023, Allianz Global Corporate & Specialty SE confirmed coverage of City of Toledo's claim No. SF-USCC19599023 subject to the terms and conditions of Allianz Global policy No. USC007053220. Such coverage applies to real and personal property owned by the City of Toledo. Allianz Global Corporate & Specialty SE paid the amount of $250,000 towards the resolution the City of Toledo's claims for repairs to the Water Reclamation Administration Building.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to accept the partial insurance claim settlement and accept and deposit of $250,000 from Allianz Global Corporate & Specialty SE into the Sewer Replacement Fund Account Code 6073-36000-4UC4623STDSTD from the City's insurance claim resulting from the December 25, 2022, sprinkler system failure at the Water Reclamation Administration Building.
SECTION 2. That this ordinance, being an emergency measure, shall be in for...
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