Label
Admiral Insurance Co.
Law/Risk Management
Merritt W. Green (x1037)
Title
Authorizing the Mayor to renew the pollution liability insurance policy covering its Municipal Golf Courses with Admiral Insurance Company for a period of three years; further authorizing the expenditure of $22,817.00 from the city's Risk Management Fund; waiving competitive procurement requirements of TMC 187; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The city maintains a pollution liability insurance policy covering its three Municipal Golf Courses. Admiral Insurance Company has provided pollution liability insurance coverage for the past three years. Since the last annual renewal, the Hylant Group has priced the market and negotiated the rate charged to the city for the same insurance coverage with Admiral Insurance Company; offering the same coverage limits, as well as maintaining the lower deductible for the insurance coverage at a lower rate/premium for three years. As a direct result, Admiral Insurance Company offers the maximum and best coverage, inspection and engineering support at the lowest premium cost.
This commitment, from the city to Admiral Insurance Company, and from Admiral Insurance Company to the city, serves as the basis for the most favorable, outcome both in coverage and in working with the city to further develop and implement loss prevention measures. The agreement will be for a term not to exceed three 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 policy with Admiral Insurance Company through the Hylant Group with a policy period June 1, 2022 to June 1, 2025 in the amount of $22,817.
SECTION 2. That the Director of Finance is authorized to draw her warrant or warrants against Account Code 7095-12000-1157001STDSTD of the Risk Management Fund in paymen...
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