041-87 Ordinance
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RECORD OF ORDINANCES 451
National Graphics Corp., Cols., O. ~ Form No. 2806-A
Ordinance N 0 ._______n__~!=~!____ p assed_____n.___.____________________________ __________19 _____ --
AN ORDINANCE ACCEPTING A BID FOR
VEHICLE FLEET INSURANCE PROTECTING
THE VILLAGE OF DUBLIN, OHIO.
WHEREAS, after advertising for bids for Vehicle Fleet Insurance; and
WHEREAS, the lowest and best bid is from Security Plus Insurance Agency
in the amount of $10,466.00 for coverage from April 26, 1987 to
April 26, 1988;
NOW, THEREFORE, BE IT ORDAINED by the Council of the Village of Dublin,
State of Ohio, 5 of the elected members concurring that:
Section 1. That the bid of $10,466.00 for the period of Arpil 26, 1987
to April 26, 1988 be, and hereby is, accepted.
Section 2. That the Acting Village Manager be, and hereby is, authorized
to enter into a contract with said firm for said insurance coverage.
. Passed this 20th day of April , 1987.
Mayor - Presiding Officer
ATTEST:
J~PJ Lnj. t{-~
Clerk of Council .
-
Sponsor: Administrative Assistant
I hereby certify that copies of this Ordinance/Resolution
were posted in the Village of Dubiin in accordance with
Section 731.25 of the Ohio Revised Code.
~~~~. 'tI~
Clerk of Council
MEMORANDUM
TO: Council Members and Acting Village Manager
FROM: David Harding, Administrative Assistant D~
SUBJECT: Vehicle Fleet Insurance
DATE: April 1, 1987
After advertising for bid proposals for Vehicle Fleet Insurance, only one (1)
proposal was received and opened on Friday, March 27, 1987. Attached please find
the bid tabulation and ordinance accepting the bid proposal.
Proposals Received
As stated above, only one ( 1 ) proposal was received. This proposal was submitted
by Security Plus Insurance Agency which is the agency that submitted the lowest
bid in 1984 and 1985. This same agency was also the only bidder in 1986. The
proposed coverage is to be written with Grange Mutual Insurance Company.
The Security Plus Agency's bid proposal includes two (2) premium quotes as requested
by the Bid Specifications and Instructions. You will note that under the Coverage
Summary Section on the attached Bid Tabulation, two (2) coverage options are
included for Bodily Injury under Comprehensive Vehicle Liability. Option A contains
Bodily Injury coverage of $500,000.00 per person and $500,000.00 per accident.
Option B contains Bodily Injury coverage of $500,000.00 per person and $1,000,000.00
per accident. The premium quote with option A is $9,784.00 and the premium quote
for option B is $10,466.00.
Analysis and Recommendation
In analyzing the two (2) Bodily Injury coverage options and the two (2) corresponding
premium quotes offered by Security Plus, I would recommend acceptance of the premium
quote for coverage option B which is in the amount of $10,466.00.
The basis for this recommendation is that in the absence of Umbrella Liability coverage,
Bodily Injury coverage option B provides for an additional $500,000.00 protection
per accident at a reasonable cost. When comparing the premium quote including
Bodily Injury coverage option A to the premium quote including Bodily Injury coverage
option B, the add it iona 1 $500,000.00 in coverage costs $662.00 in annual premium. In
my judgment, in the absence of Umbrella Liability coverage, it would be worth spending
the additional $662.00 in annual premium to gain the additional $500,000.00 coverage
under Bodily Injury option B. I would therefore recommend the acceptance of the
Security Plus Agency's proposal with Bodily Injury coverage option B at an annual
premium of $10,466.00.
Although our present coverage expires on April 26, 1987, I have not requested that
the attached ordinance be adopted as emergency legislation. There is a Council
Meeting scheduled for April 20, 1987, at which time I would request that this
ordinance be passed as an emergency measure. If any Council Members have questions
which require additional research on my part, I will conduct such research before the
Apri 1 20, 1987, Council Meeting.
DH:fmu
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