STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: September 22, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Risk Management
EXECUTIVE: Elizabeth Reich
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SUBJECT
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Authorize the purchase of insurance policies for commercial property, boiler and machinery and loss control, terrorism, cyber liability, fine arts, crime, aviation, flood, media professional liability, general liability, and other lines of coverage as needed for the period October 1, 2021 to September 30, 2022 - Not to exceed $8,948,035.96 - Financing: Risk Management Fund
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BACKGROUND
These insurance policies will provide coverage for commercial property insurance, boiler and machinery and loss control, cyber liability, aviation, crime, fine arts, flood, media and professional liability, and general liability insurance policies on behalf of the City of Dallas. The current policies will expire on September 30, 2021.
The insurance policies secured by McGriff lnsurance Services, Inc. will provide commercial insurance for the following types of coverage:
* Property - buildings, contents, business interruption, terrorism, extra expense, and debris removal
* Aviation - police helicopters
* Crime - employee dishonesty, forgery, and fraud
* Fine arts - works of art owned by the City
* Flood - damage to property caused by flood
* Media professional liability - broadcasting operations at WRR-FM
* General liability - liability exposures specific to Southern Skates as well as the Jack Evans Police Headquarters parking garage as required by the contract
* Cyber Liability - Network breach events to include computer forensics, crises management and public relations expenses, consumer notification, forensic and legal expenses, credit monitoring services, systems failure business interruption, security and privacy liability, to include coverage for legal defense costs and damages for financial loss s...
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