STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 28, 2022
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Risk Management
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
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Authorize the City's contracted broker of record, McGriff Insurance Services, Inc., to purchase 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, 2022 to September 30, 2023 - Not to exceed $10,427,076.00 - Financing: Risk Management Fund (subject to annual appropriations)
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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, 2022.
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 and drones
* 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 busines...
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