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CI"O OF SAN BERNARDC)O - REQUIOT FOR COUNCIL ACC)oN
From: Ronald W. Solheim, Director Su bject: By Necessity Increase S. 1. R. in
Liability Cases to $250,000. , and
Dept: Emergency Services & RISK MANAGEMENT renew Excess L i abil ity Insurance
for the period of March 30, 1985
Date: March 29, 1985 to March 30, 1986 for $25,000,000.
Synopsis of Previous Council action:
Requested reports and discussed this matter numerous times.
Recommended motion:
That by necessity, the Self-Insured Retention for Liability Cases be
increased from $100,000. to $250,000. for the period of March 30, 1985
to March 30, 1986; and that the renewal of the Excess Insurance Policies
up to $25,000,000. for the same period as proposed by Caldwell & Hunt,
its Broker of Record, be accepted for a premium of $401,000.
~,:~
, Rona. ~t~alheim
Contact person:
Ron Solheim
Phone:
5308
N/A
29-423-220
Supporting data attached:
Yes
Ward:
FUNDING REQUIREMENTS:
Amount: $40 1,000.
Sou ree:
Finance:
Council Notes:
75-0262
Agenda Item No {'~(,)I
111'1111' II
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Caldwell and Hunt Intlul'tlnce Brok...., Inc.
1299 E Street P,O, Box 2456 San Bernardino CA 92406
7148848811
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March 29, 1985
City of San Bernardino
300 No. D Street
San Bernardino, Ca., 92401
Attn:
Ronald Solheim
Dear Mr. Solheim:
Responding to your reques~ listed below are the options for the
annual installment for the liability insurance for the eomming year.
Also, please be advised that the absolute lowest Self Insurance
Retention (SIR) was $250,000.
As discussed per your March 11, 1985, letter you requested options
of less than 250,000. but, it was just not available.
Option I
$250,000. SIR
Option II
$500,000. SIR
Option III
$1,000,000. SIR
Annual Premium
$401,000.
$279,848.
$195,000.
All these options are with a maximum limit of $25,000,000.
RICHARD C. CALDWELL
RCC/cn
1'1'1..1111. II
Q:ITY OF SAN BE~ARDINO 0- MEMORANDUIO 0
To
John Matzer, Jr.
City Administrator
From Ronald W. Solheim
Subject
Renewal of Liability Insurance
D~e March 29, 1985
Approved
Date
Richard C. Caldwell, of the Insurance Broker Firm of Caldwell
And Hunt, has been working since January, 1985, to renew the
Liability Insurance Excess, which expires March 30th. His best
and final offer was hand carried to Risk Management, March 29th,
after 3:30 P.M., and is attached hereto.
Mr. Caldwell advised that the City of San Bernardino is only one
(1) of approximately three (3) Cities, which TransContinental
allowed to renew its policies for the coming year.
Having been instructed to get bids on Self-Insured Retention of
$10,000., $25,000., $50,000., $75,000., $100,000., $150,000.,
$200,000., & $250,000., he reported that due to the market and
the few select writers who must insure numerous governmental
agencies by April 1st and July 1st, (The normal renewal dates)
the absolute lowest S.I.R. they would quote was $250,000.
After discussion with you, it was determined that the City Admin-
istrator, Oirector of Finance, and Oirector of Emergency Serv-
ices & Risk Management, would check into the possibility of making
regular monthly payments on the premium, rather than a single
lump sum, if all concerned agreed.
RWS/r
cc: W.R. "Bob" Holcomb
Council Members
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