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R2014-114 ACCEPTING THE BID AND AUTHORIZING CONTRACT Liability Insurance
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R2014-114 ACCEPTING THE BID AND AUTHORIZING CONTRACT Liability Insurance
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Last modified
7/24/2015 9:58:42 AM
Creation date
7/24/2015 9:58:41 AM
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Resolution/Ordinance
Res Ord Num
R2014-114
Res Ord Title
ACCEPTING THE BID AND AUTHORIZING CONTRACT WITH LANCER INSURANCE CO. AND ADMIRAL INSURANCE CO. FOR TRANSIT LIABILITY INSURANCE
Department
Mass Transit
Approved Date
9/29/2014
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rJ.L. Hubbard <br /> INSURANCE : BONDS <br /> A Soy Capita!Company <br /> Premium Summary <br /> Coverage Type Renewal Premium <br /> Commercial General Liability 4,394 <br /> Automobile 1185770 <br /> Excess Liability 20,720 <br /> Total Annual Premium 14304 <br /> *Terrorism Coverage Available For Additional$3,695 <br /> Lancer Will Handle All Claims - $250 Handling Fee Per Claim Over $100 <br /> (No Cost For Claims That Close Without Payment) <br /> $125,000 Letter Of Credit Required For Lancer <br /> Collateral Adjusted At 125% Of Outstanding Reserves Plus 100%Of Non-Recovered Paid <br /> Payment Plan Options <br /> Lancer Insurance—Agency Bill $30,791 Down; (8) Installments <br /> Admiral Insurance (Excess)—Agency Bill $20,720 Down <br /> 11 <br />
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