10-186 4/21/11 Per William A. Cogley, agreement never finalized.
Resolution No. 10-186
RESOLUTION
ACCEPTING THE PROPOSAL OF LUNDSTROM INSURANCE AGENCY, INC.
FOR THE CITY OF ELGIN'S INSURANCE PROGRAM
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that
pursuant to Elgin Municipal Code Section 5.02.020B(9) the City Council hereby finds that an
exception to the requirements of the procurement ordinance is necessary and in the best interest of
the city; and
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS,that Sean R. Stegall,City Manager,be and is hereby authorized and directed to accept the
proposal on behalf of the City of Elgin of Lundstrom Insurance Agency,Inc.for the city's insurance
program for the period October 1, 2010 through September 30, 2011 as follows:
a. To accept Safety National's excess workers' compensation proposal for an annual
premium cost of$106,507 with a$600,000 self-insured retention.
b. To accept Travelers'renewal proposal for an annual premium cost of$546,287 and a
claims administration fee of$59,029.
C. To accept Employers' excess business interruption renewal proposal for an annual
premium cost of$50,000 with an$11,500,000 policy limit.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS,that Sean R. Stegall, City Manager,be and is hereby authorized and directed to execute
an insurance broker services agreement with Lundstrom Insurance Agency, Inc. dated October 1,
2010, a copy of which is attached hereto and made a part hereof by reference.
s/Ed Schock
Ed Schock, Mayor
Presented: September 22, 2010
Adopted: September 22, 2010
Vote: Yeas: 6 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk