HomeMy WebLinkAbout03-262 Resolution No. 03-262
RESOLUTION
ACCEPTING THE PROPOSAL OF LUNDSTROM INSURANCE FOR
LIMITED SELF-INSURANCE PROGRAM
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that David M. Dorgan, City Manager, be and is hereby
authorized and directed to accept the proposal on behalf of the
City of Elgin of Lundstrom Insurance for the city' s limited self-
insurance program for the period October 1, 2003 through
September 30, 2004 as follows :
a . The St . Paul $50, 000/occurrence (SIR) for the
property policy and $250, 000/occurrence (SIR) for general
liability with $1 , 500, 000 "All Lines" aggregate SIR
proposal for a total excess premium and claims
administration cost of $871, 464 and $56, 000 claims
administration fee .
b. The Safety National $500, 000/occurrence (SIR)
compensation proposal for a total excess premium cost of
$53 , 240 .
c. The AIG $3, 000, 000/occurrence and
$3 , 000, 000/aggregate with $10, 000/deductible for
pollution liability coverage for $44 , 579 .
s/ Ed Schock
Ed Schock, Mayor
Presented: September 24 , 2003
Adopted: September 24 , 2003
Vote: Yeas : 6 Nays : 0
Attest :
s/ Dolonna Mecum
Dolonna Mecum, City Clerk