Label
Great American E&S Insurance Co.
Law/Risk Management
Merritt W. Green (x1037)
Revised
Title
Authorizing the Mayor to renew the pollution liability insurance policy covering city's portion of the "Westside Rail Corridor" with Great American E&S Insurance Company for a period of ten years; authorizing the expenditure of $23,876 from the city's Risk Management Fund; waiving competitive procurement requirements of TMC 187; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The council of the City of Toledo adopted Ordinance 428-11 authorizing the city along with other members of the Chessie Circle Coordinating Committee ("Committee") to maintain a pollution liability insurance policy covering the property known as West Rail Corridor. Great American E&S Insurance Company has provided pollution liability insurance coverage for the past ten years. Since the last ordinance was passed in November 2011, the Fedeli Group has priced the market and negotiated the rate charged to the members of the Committee for the same insurance coverage with Great American E&S Insurance Company; offering the same coverage limits, as well as maintaining the lower deductible for the insurance coverage at a lower rate/premium. As a direct result, Great American E&S Insurance Company offers the maximum and best coverage, inspection and engineering support at the most reasonable and fair premium cost.
This commitment, from the city as a member of the Committee to Great American E&S Insurance Company, and from Great American E&S Insurance Company to the Committee, serves as the basis for the most favorable outcome both in coverage and in working with us to further develop and implement loss prevention measures. The agreement will be for a term not to exceed ten years.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to contribute to the purchase of the pollution liability property insurance polic...
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