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Home My WebLink AboutR-75-0332MC:eb RESOLUTION NO. 7)` 32 A RESOLUTION ACCEPTING THE BID RECEIVED FROM ALLSTATE INSURANCE COMPANY FOR A THREE YEAR INSURANCE POLICY COVERING FIRE, WINDSTORM AND EXTENDED COVERAGE, AND VANDALISM AND MALICIOUS MISCHIEF ON CITY BUILDINGS AND CONTENTS THEREIN AT AN ANNUAL RATE OP $53,675.00 COVERING THE PERIOD FROM APRIL 15, 1975 TO APRIL 15, 1978; AUTHORIZ- ING AND DIRECTING THE CITY MANAGER TO INSTRUCT THE PROPER CITY OFFICIALS TO NEGOTIATE A CONTRACT WITH ALLSTATE. WHEREAS, pursuant to Public Notice, sealed bids were received for a three year insurance policy covering fire, windstorm and extended coverage, and vandalism and malicious mischief on City buildings and contents on March 25, 1975; and WHEREAS, a notice of the bid was mailed to fifty-nine • (59) agents and seven bids were received; and WHEREAS, the City Manager recommends acceptance of the bid received from ALLSTATE INSURANCE COMPANY who submitted the most advantageous bid to the City at an annual cost of $53,675.00; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The bid received from ALLSTATE INSURANCE COMPANY for a three year insurance policy covering fire, wind- storm and extended coverage, and vandalism and malicious mischief on City buildings and contents therein be, and is hereby, accepted at an annual rate of $53,675.00 covering the period from April 15, 1975 to April 15, 1978. Section 2. The City Manager be, and he is hereby, authorized and directed to instruct the proper City Officials 'DOCUMENT INDEX i.: ITEM NO. to negotiate a contract with ALLSTATE INSURANCE COMPANY. PASSED AND ADOPTED this 10day of APRIL 1975. PREPARED AND APPROVED BY: 9AURICE A, FERHE MAYOR Attest: 1,14 D, SfU,JNERN Mikele Carter Assistant City Attorney APPROVED AS TO FORM AND CORRECTNESS: John S. Lloyd - City Attorney 2 410.10 C; r', c'7: ;.i!.`,?.i!. FLOP..R).\ 71:_•10;3AN )I_I;fit TO: Mr, P. W. Andrews City Manager FROM: �a W. R. Bailey Director of 1 March 28, 1975 Award of Bid and Request for Resolution: Tire and Allied Lines Insurance 1 Copy Bidder's List 7 Bids from Insurance Companies 1 Copy of Specs is Pursuant to Public Notice, sealed bids were received for a three year insurance policy covering fire, windstorm and extended coverage, and vandalism and malicious mischief on City buildings and contents on March 25, 1975. A notice of the bid was mailed to fifty-nine (59) agents and four (4) agents picked up specifications from the Office of Property Management. Seven (7) bids were received as follows: 1. Appalachian Insurance Company of Providence Rating: Best's Insurance Guide - A:AAAA Premium Cost: 1st Year Premium $43,387.00 2nd " " 41,842.00 3rd " 41,842 Particulars: This bid carries a $25,000.00 deductible on all perils, any building, each occurrence. Note: This premium was based on an 80% Co-insurance, and if a 90% Co- insurance Clause is attached, premium would be reduced by $2,068.00; if a 100% Co-insurance Clause is attached, premium would be reduced by $4,137.00. Local Agent: Everett and Associates, Inc. 2. Chicago Insurance Company (1st $1,000,000 of Loss) American Manufacturers Mutual Insurance Company (Excess of $1,000,000 of Loss) Rating: Best's Insurance Guide - A:AA+ on Chicago Insurance Company A+:AAAAA on American Manufacturers Mutual Insurance Company Premium Cost: 1st Year Premium $69,244.00 2nd " *i n 3rd " Page 1 of 3 'Y.N..� }lsim ib3:Yi4 Mr. P. W. Andrews City Manager March 28, 1975 Subject: Award of Bid and Request for I;esolution: Fire nd_AtliedLines Insurance Continued Particulars: Amount of deductible; $100,000,00 per occurrence on all perils deductible. Local Agent: Everett and Associates, Inc. 3. California Union Insurance Company Admiral Insurance Company Each company assumes 507, of the first $1,000,000 loss limit Security of Hartford and American Manufacturers Insurance Company - $9,000,000 excess of $100,000.00. Rating: Best's Insurance Guide - California Union Insurance Company A:AAA Admiral Insurance Company A:BBBB Security of Hartford A:AAAAA American Manufacturers Insurance Company A:AAAAA Premium Cost: 1st Year Premium $75,000.00 2nd 3rd II I� rr Particulars: The amount of insurance written by this bid is $10,000,000 limit with a $3,500.00 per occurrence deductible on all cover -- age. Local Agent: Everett and Associates, Inc. 4. Chicago Insurance Co. (1st $1,000,000 of Loss) American Manufacturers Mutual Ins. Co. (Excess of $1,000,000 of Loss) Rating: Best's Insurance Guide - Chicago Insurance Co.: A:AA+ American Manufacturers Mutual Ins. Co.: A+:AAAAA Premium Cost: 1st Year Premium $69,280.00 2nd II rr rl 3rd II n rr Particulars: Fire Deductible, $5,000.00 per occurrence; Windstorm and Hail Deductible, $50,000.00 per occurrence Remaining Extended Coverage Deductible, $5,000 deductible includes all perils except Wind & flail Local Agent: Everett and Associates, Inc. 5. Allstate Insurance Company Rating: Best's Insurance Guide - Premium Cost: 1st Year Premium 2nd 3rd A+: A..WtA $53,675.00 11 II .., rl Ir II » II Continued- Page 2 of 3 Mr. P. W. Andrews City Manager March 28, 1975 Subject: Award of Bid and Request for Resolution: Fire and Allied Lines. ,Insurance Continued Particulars: Pire, Extended Coverage (other than Windstorm & Hail) and Vandalism and malicious Mischief Deductible is $1,000, deductible disappearing at $10,000, applied per item of insurance. The windstorm & Hail deductible shalt be applied as follows: A. A $1,000.00 flat deductible per location on all locations having a value of $250,000 or less. B. A 2% of value deductible per location on all locations having a value of $250,000 or more, not exceeding $50,000 deductible atany one location. C. The total amount deducted by the application of A & B shall not exceed $300,000.00 in any one occurrence. It is recommended that the bid from Allstate Insurance Company be accepted as it is most advantageous to the City. The apparent low bidder, Appalachian Insurance Company of Providence is not satisfactory because of the large deductible with no aggregate stop insurance. It is further recommended that the Law Department be instructed to prepare a resolution accepting the bid from Allstate Insurance Company to provide for a three year insurance policy covering fire, windstorm and extended coverage, and vandalism and malicious mischief on City buildings and contents at an annual rate of $53,675.00. This policy period is from April 15, 1975 to April 15, 1978. ae These Companies bid two (2) other proposals. Because of the similarity of all particulars, these two (2) additional bids were not listed. Premiums recited were higher than the one shown in Example No. 3. tJ RB : DRS : emd Page 3 of 3 CITY OF MIAMI, FLORIDA REQUISITION FOR ADVERTISEMENT FOR BIDS r r DEFT! DIV Finance ?rote rty Management ACCOUNT CODE 5-199.3,1i, BID NO. 74.75077 c" PREPARED BY B. Davis 1 J DATE 2/27/75 PHONE 445i t UANtitY ittPPiageN Rf €PAtItMlNt i3€tbUiRLMENt9 POR MONtI4 OA \ATE \AMOUNT CObE ITEM DESCRIPTION QUANTITY UNIT PRICE AMT. X 4110 Advertisement to purchase fire and allied Lines innur- TOTAL ESTIMATED COST : CONTRACTUAL: $ 55,000.00 INCIDENTAL: $ 100.00 TOTAL $ 55,100.00 SOURCE OF FUNDS: 7'o be filled in by EXPENDITURE CONTROL: APPROVED BY : DATE DATE DATE DATE DATE AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT BIDS TO BE SECURED FOR Fire and Allied kitten Insurance FOR THE DEPARTMENT OF: Finance ADVERTISE ON Monday, March 3 BIDS TO BE RECEIVED ON March 25, 1975 DIRECTOR OF ISSUING DEP'AR MENT FUNDS AVAILABLE FOR PROJECT INVOLVED EXPENDITURE CONTROLLER PROJECT CODE AD CODE COPIES TO: Purchasing (Org.) — City Manager — City Clerk —Expenditure Conlml — issuing Department — Other Affected Department FORM NO. 1U43-REV. 70 WHITE GREEN PINK CANARY BLUE GOLDENROD BID SECURITY it0A Fire and Allied Lines Insurance DATE BIOS BIDOER tYPt OF SECURITY AMOUNT F OR ACCOUNTING USE John. P. O'Hara/Allstate insurance Co, 1000 h4W, 62nd Avenue, buite b-2100 South Miami, Fl 33143 1 Everett & Associates. Inc. P. 0. Box 530503 Miami, Fl 33153 2. Everett & Associates, Inc. P. O. BoN 530503 Miami, Fl 33153 . Everett & Associates. Inc P. 0. Box 530503 Miami, Fl 33153 ... Received the above described checks this day of 19 FOR ACCOUNTING DI% ISION T.