082-86 Ordinance
RECORD OF ORDINANCES 225
National Graphics Corp., Cols., o. .... Form No. 2806-A
Ordinance N 0 'm_~~=~~________u p assedhu___ ______________________h___________________19 _____, --
AN ORDINANCE TO ACCEPT A BID FOR
COMPREHENSIVE GENERAL LIABILITY
INSURANCE PROTECTING THE VILLAGE
OF DUBLIN, OHIO: AND DECLARING
AN EMERGENCY.
WHEREAS, bids have been received for Comprehensive General Liability
Insurance including coverage for Bodily Injury Liability and Property
Damage Liability; and,
WHEREAS, the lowest/best bid is from Len Webb Agency
in the amount of $ 20,021 for coverage from November 12,
1986 to November 12, 1987.
NOW, THEREFORE, BE IT ORDAINED by the Council of the Village of Dublin,
State of Ohio, 6 of the elected members concurring:
Section 1. That the bid of Len Webb Agency, Inc. for the
period of November 12, 1986 to November 12, 1987 be, and hereby is,
accepted.
Section 2. That the Village Manager be, and hereby is, authorized to ente
into a contract with said firm for said insurance coverage.
Section 3. That this Ordinance be, and the same hereby is, declared to be
an emergency measure for the reason that the current coverage will expire
on November 12, 1986 and therefore this Ordinance shall take effect and
be in force immediately upon its passage.
Passed this 3rd day of November 1986.
,
Attest:
JA&LMJ ~ ~~
Clerk of Cou ci 1
.
Sponsor: Village Manager 1 hereby certify that copies of this Ordinance/Resolution
were posted in the Village of Dublin in accordance with
Section 731.25 of the Ohio Revised Co~~.
'- J;LI~/k7 <-n; . ~<-
Clerk of Councij ,--
MEMORANDUM
TO: Council Members
FROM: Dave Harding, Administrative Assistant to the Village Manager ~
SUBJECT: Liability Insurance Bids
DATE: October 29, 1986
.
After advertising for bids for Comprehensive General Liability and Umbrella
" Liability Insurance coverage, bids were received and opened on Friday, October
24, 1986. Attached please find the tabulation of bids and an ordinance accepting
the lowest/best bid.
Proposals Received
The Len Webb agency submitted a bid for Comprehensive General Liability coverage
but none for Umbrella Liability coverage. The annual premium Quote for
Comprehensive General Liability coverage is $20,021. (Refer to the Bid Tabulation
attachment) .
Frank B. Hall submitted a bid for Comprehensive General Liability coverage
but none for Umbrella Liability coverage. The bid included two coverage levels.
The annual premium quote for coverage A is $111,765. The annual premium quote
for coverage B is $156,471.
Corroon & Black of Ohio, Inc. submitted no bid for Comprehensive General
Liability coverage but submitted a letter proposing the possibility of providing
Umbrella Liability coverage. They could not quote an exact premium for such
coverage because they did not provide a quote on the underlying Comprehensive
General Liability coverage and did not know what premiums other bidders would
quote for their Comprehensive General Liability coverage. A quote for Umbrella
coverage is based in part on the underlying coverage. However, Corroon & Black
stated that the Village could expect an annual premium of at least $100,000
for $1,000,000 Umbrella coverage. Coverage of $2,000,000 and $5,000,000 may
be available, of course at much higher premiums.
I
Liability lnsurance Bids
October 29, 1986
Page 2
, Analysis & Recommendation
You will note that the Len Webb Agency has submitted the low bid of $20,021
for Comprehensive General Liability coverage. This bid compares to the $17,063
bid received last year from Mr. Webb. Essentially, the coverage with Mr. Webb
would be a renewal of our present coverage. In light of the present municipal
liability insurance market, characterized by sky-rocketing premiums for less
coverage amounts, this quote seems very reasonable in my opinion. Therefore,
I would recommend that the Len Webb Agency's bid of $20,021 for the period
. covering November 12, 1986 to November 12, 1987 be accepted by Council.
Regarding the matter of Umbrella Liability coverage,it should be noted that
presently the Village has no such coverage. This is due to the fact that last
~ year we had no bids for such coverage. The past two years, this form of
coverage has not been available at a realistic price if at all. This year,
Corroon & Black of Ohio, Inc. has offered to make an effort to provide such
, coverage at a minimum premium of $100,000. I doubt that Council wishes to
spend a minimum of $100,000 for such coverage. This means that the Village
would again be without Umbrella Liability coverage.
However, there may be good news on the horizon. Legistation involving
governmental liability insurance and tort reform has been introduced in the Ohio
Legislature which may drastically, change the governmental liability insurance
market in Ohio. This legislation, if passed, may ease the crisis in the market
and make liability insurance more affordable.
Again, I would recommend that the Len Webb Agency's bid of $20,021 for Comprehensive
General Liability coverage from November 12, 1986 to November 12, 1987 be accepted
by Council. Since the current coverage expires on November 12, 1986, I respectfully
request that the attached ordinance be adopted as emergency legislation.
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