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Meeting Date:
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6/19/2019 - 7:00 PM
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Category:
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SCHOOL FACILITIES MANAGEMENT
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Type:
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Action
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Subject:
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21.17 AWARD OF GENERAL FUND Contract for Property, Boiler & Machinery Insurance for 2019-2020 to the Travelers Indemnity Company for an annual premium of $838,836.00. This is an increase of $75,571 or 9.9 % over the expiring premium.
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District Goals:
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Enclosure
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File Attachment:
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Rationale:
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Term is from July 1, 2019 to June 30, 2020
This is to authorize the administration to award the contract for Property Insurance, (including Boiler, Machinery and Terrorism Insurance) for 2019-20 fiscal year. Proposals were solicited and analyzed by the District's broker, Nausch, Hogan and Murray. Travelers Indemnity Co., the incumbent provider, has provided the most competitive proposal. Besides Travelers, request for proposals we send to 6 other companies and Amlin Syndicate 2001 and Argo Insurance provided a higher price and Hanover Ins. Co., Hartford Ins. Co Allianz, and CHUBB declined to quote.
The increased premium is attributed to payoff of claims in the past 3 years that amounted to $3,114,064. Contributing to this also is an increase in the estimated replacement value of the building stock and contents.
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Funding:
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450.5303.100000.1910. B2310. General Fund- Insurance
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Resolution:
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Ladies and Gentlemen:
WHEREAS, the Administration wishes to procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2019-2020, and
WHEREAS, proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS, The Travelers Indemnity Co. has submitted a lowest proposal which meets the Yonkers Public Schools specifications and requirements.
NOW THEREFORE BE IT RESOLVED that the Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2019-2020 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $838,836
AND BE IT FURTHER RESOLVED, that the Board of Education Hereby authorizes the Superintendent of Schools to award Property Insurance, including Boiler, Machinery and Terrorism coverage with the above mentioned firm through insurance broker, Nausch, Hogan and Murray, Inc.
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Approvals:
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Recommended By:
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Signed By:
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John Carr - Executive Director
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Signed By:
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Finance Department - Finance Reviewer
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Signed By:
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Tom Collich - Purchasing Director
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Signed By:
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Elizabeth Janocha - Deputy Commissioner
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Signed By:
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John Liszewski - Commissioner
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Signed By:
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Matthew Gallagher - Corporation Counsel
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Signed By:
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Dr._Andrea_S. Coddett - Deputy Superintendent
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Signed By:
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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Kevin Cacace Moved, Member Dr._Ammir Rabadi seconded to approve the Original motion 'Ladies and Gentlemen:
WHEREAS, the Administration wishes to procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2019-2020, and
WHEREAS, proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS, The Travelers Indemnity Co. has submitted a lowest proposal which meets the Yonkers Public Schools specifications and requirements.
NOW THEREFORE BE IT RESOLVED that the Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2019-2020 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $838,836
AND BE IT FURTHER RESOLVED, that the Board of Education Hereby authorizes the Superintendent of Schools to award Property Insurance, including Boiler, Machinery and Terrorism coverage with the above mentioned firm through insurance broker, Nausch, Hogan and Murray, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0. | | The motion Carried 6 - 0 | | | | | Rev. Steve Lopez | Yes | | Judith_Ramos Meier | Yes | | Kevin Cacace | Yes | | Andrea Brown | Yes | | Dr._Ammir Rabadi | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | |
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