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Meeting Date:
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6/19/2018 - 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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22.11 AWARD GENERAL FUND Contract for District Property and Boiler & Machinery Insurance to the Travelers Indemnity Company for an annual premium of $763,265.00. This is an increase of $109,392.00 or 16.73% 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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This is to authorize the administration to purchase Property Insurance, (including Boiler, Machinery and Terrorism Insurance) for 2018-19. Proposals were solicited through the District's broker, Nausch, Hogan and Murray. Travelers Indemnity Co., the incumbent provider, has provided the most competitive quotation. Besides Travelers, request for proposals we send to 5 other companies and Amin Syndicate provided a higher price and Hanover Ins. Co., Hartford Ins. Co Allianz, and AIG/Lexington declined to quote.
The increased premium is attributed to the two open claims on Traveler’s books, School 5 Flood and the Saunders High Fire. Contributing to this 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. Ins Fund
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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 2018-2019, and
WHEREAS, proposals were obtained 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 2018-2019 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $763,265.00
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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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. Fenix Arias - Manager of Administration
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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 Pasquale Mondesando 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 2018-2019, and
WHEREAS, proposals were obtained 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 2018-2019 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $763,265.00
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 Abstain: 1. | | The motion Carried 6 - 0 | | | | | Kevin Cacace | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Andrea Brown | Yes | | Pasquale Mondesando | Yes | | Edgar Santana | Abstain | | Rev. Steve Lopez | Yes | | Judith_Ramos Meier | Yes | |
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