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RESOLUTION NO. R202q- <br /> RESOLUTION AUTHORIZING EQUIPMENT INSURANCE <br /> COVERAGE FOR THE CITY OF DECATUR,ILLINOIS <br /> FOR THE POLICY PERIOD OCTOBER 1,2024 TO OCTOBER 1, 2025 <br /> WHEREAS,the City of Decatur current business insurance coverage shall expire <br /> October 1, 2024, and, <br /> WHEREAS, the City of Decatur is in need of equipment insurance coverage for <br /> the period October 1, 2024 through October 1, 2025; and <br /> WHEREAS, Arthur J. Gallagher Risk Management Services, Inc. has secured a <br /> quote from Federal Insurance Company and requested a quote from Hanover Insurance <br /> Company on the City's behalf for equipment insurance for the period October 1, 2024 <br /> through October 1, 2025, <br /> WHEREAS, Underwriters at Hanover Insurance Company have submitted a <br /> quote to provide mobile equipment insurance in an amount not to exceed$24,735.00(still <br /> under negotiation) and Federal Insurance Company has submitted a quote to provide <br /> equipment breakdown insurance in an amount not to exceed$5,968.00. <br /> BE IT THEREFORE RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF DECATUR, ILLINOIS: <br /> Section 1. That the quote of Underwriters at Hanover Insurance Company <br /> to supply mobile equipment insurance in an amount not to exceed$24,735.00 and Federal <br /> Insurance Company to supply equipment breakdown insurance in an amount not to <br /> exceed $5,968.00 to the City of Decatur be, and the same is hereby, accepted and <br /> approved. <br /> Section 2. That the City Manager be, and is hereby authorized to direct Risk <br /> Management to execute the Client Authorization to Bind Coverage with Arthur J. <br /> Gallagher Risk Management Services for the afore-mentioned service in accordance with <br /> the quotes as submitted by said companies. <br />