STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: June 28, 2023
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Risk Management
EXECUTIVE: Kimberly Bizor Tolbert
______________________________________________________________________
SUBJECT
title
Authorize the City’s contracted broker of record, McGriff Insurance Services, Inc., to purchase an auto property damage/catastrophic fleet damage insurance policy with as-needed coverage for the period of April 15, 2023, to April 14, 2024 - Not to exceed $1,476,869.00 - Financing: Risk Management Fund
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BACKGROUND
This insurance policy will provide coverage for city-owned vehicles valued at $100,000.00 or greater. The quote was received after the FY 2022-23 budget was approved. This is the first time the City has purchased auto property damage/catastrophic fleet damage.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
|
Fund |
FY 2023 |
FY 2024 |
Future Years |
|
Risk Management Fund |
$1,476,869.00 |
$0.00 |
$0.00 |
OWNER
McGriff Insurance Services, Inc.
Read Davis, President
Doug Hodo, Vice President