HomeMy WebLinkAboutResolution - 2023-R0489 - Property Insurance Coverage, AEGIS, Talbot And Hiscox; $0.2666/$100 - 10/10/2023Resolution No. 2023-R043?
Item No. 5.5
October 10, 2023
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL. OF THE CITY OF LUBBOCK:
THAT the actions of the City Manager of the City of Lubbock in p ire l t�ir �I
property insurance coverage to include terrorism with AEGIS, Talbot and Hiscox. i;C:.,nd
on behalf of Lubbock Power and Light, the City's municipal utility are hereby ati; is°d.
THAT the City Manager may execute any routine documents and forms associated
with said insurance coverage.
Passed by the City Council this October 10, 2023
APPROVED AS TO CONTENT:
D. Blu Kos lich, Chief ncial Officer
APPROVED AS TO FORM:
Jeff Hartsell, Deputy City Attorney
RES.Risk Mgmt-LP&L Property Ins.
October 4, 2023
V IRH cewa Go iRDSL
Lubbock Power & Light,
Policy Year
the City of Lubbock's municipally
owned electric
200 209
utility
Description
Values.
Rates
Premium
Surplus Lines Tax & Fee
Property damage including Business Interruption
$534,441,091
$0.2178
$1.163,998
S57 327
Standalone Terrorism Policy
$534,441,091
$0.0081
$43,352
$2,135
Loss Control Services
Services provided by AEGIS
Included Above
$0
Placement Service Fee
Services provided by NFP
$150,000
$7,388
Annual Property Premium Including: TaresfFeeslAdditional
Serviceslierrorism
$1,424,200
All In Property Rate Per $100 Insured
0.2665%
For mturmaaonal purposes onry. 77us doel—I does nor —and. e.tena or abler wv&vr. PJoase-I& to any aauel PoUcy(s) ter speoec tam. condrt , Iunrtaroni ood e.aes ons. tnsamnce s ms povided by NFP PIOPBRy a Casually Sa WOS, tr (NFP P&Q. a 0NFF
svasidiaryofNFP Cmp (NFP) and robed NFP suasrarery companras In ca!i(omia, NFP Pde does business as WP Pmp" 6 Casually lnswarwa Serorcas. Inc lharrse OOF15715. Nedher NFP rwrlts suovdiadas provide to, orh o advk».
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