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R2015-112 ACCEPTING THE BID AND AUTHORIZING A CONTRACT Lancer Insurance & Admiral Insurance
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R2015-112 ACCEPTING THE BID AND AUTHORIZING A CONTRACT Lancer Insurance & Admiral Insurance
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Last modified
9/30/2015 8:47:19 AM
Creation date
9/30/2015 8:47:18 AM
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Resolution/Ordinance
Res Ord Num
R2015-112
Res Ord Title
ACCEPTING THE BID AND AUTHORIZING A CONTRACT WITH LANCER INSURANCE CO. AND ADMIRAL INSURANCE CO. FOR TRANSIT LIABILITY INSURANCE
Department
Finance
Approved Date
9/21/2015
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���II ■ <br /> INSUI�ANCE BONDS <br /> A Suv Capi�al Company <br /> • <br /> �� • � �, I� ,"1,� ' ' • �.� I��� <br /> Commercial General Liability 4,394 4,733 <br /> Automobile 118,770 136,573 <br /> Excess Liability 20,720 20,720 <br /> Sub-Total: 143,884 162,026 <br /> Delete Terrorism from General <142> <br /> Liability <br /> Total Annual Premium: 143,884 161,884 <br /> Tenorism Coverage Available on Automobile Liability for Additional Premium of$4,733 <br /> Lancer Will Handle All Claims-$250 Handling Fee Per Claim Over$100 <br /> (No Cost Far Claims That Close Without Payment) <br /> $174,417.50 Letter Of Credit Required For Lancer <br /> Collateral Adjusted At 125%Of Outstanding Reserves Plus 100%Of Non-Recovered Paid <br /> ' . ' . � � i <br /> Lancer Insurance—Agency Bill $35,326.50 Down; (8)Installments <br /> Admiral Insurance (Excess)—Agency Bill $20,720 Down <br /> io <br />
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