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Meeting Date:
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Category:
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SCHOOL FACILITIES MANAGEMENT |
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Type:
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Subject:
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18.8 Zurich American Insurance Company – Award |
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District Goals:
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Enclosure:
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File Attachment:
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Rationale:
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Zurich American Insurance Company
Term: 365 calendar days
Amount: $1,533,200.00
Scope: Award of a general fund contract for Property, Boiler & Machinery Insurance for 2024-2025 to Zurich American Insurance Company for an annual premium of $1,533,200.00. This is a decrease of 2.23 % over last year.
Term is from July 1, 2024 to June 30, 2025.
This is to authorize the administration to award the contract for Property Insurance, including Boiler, Machinery and Terrorism coverage for the 2024-2025 fiscal year. Proposals were solicited and analyzed by the District's broker, Nausch, Hogan and Murray. Zurich American Insurance Company has provided the most competitive proposal. Besides Zurich American Insurance Company, request for proposals were sent to seven other companies however, these companies were either not interested in providing a quote or they did not meet coverage requirements.
In addition to a decrease in cost, Zurich American Insurance Company has increased coverage limits in several areas of the policy while maintaining our current $100,000.00 deductible. |
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Funding:
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Pending Adoption of FY2024-25 Budget
450.5303.100000.1910.B2310 General Fund-Insurance |
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Resolution
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WHEREAS the Administration wishes to procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2024-2025, and
WHEREAS proposals were obtained and analyzed by the District’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS Zurich American Insurance Company has submitted a proposal which meets the Yonkers Public Schools specifications and requirements.
NOW THEREFORE BE IT RESOLVED: That the Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2024-2025 be awarded as follows:
Zurich American Insurance Company
1299 Zurich Way
Schaumburg, Illinois 60196-1056
Total: $1,533,200.00
Term: 365 calendar days
AND BE IT FURTHER RESOLVED: That the Board of Education hereby authorizes the Superintendent of Schools to award Property Insurance, including Boiler, Machinery and Terrorism coverage with the above mentioned firm through our insurance broker, Nausch, Hogan and Murray, Inc. |
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Approvals:
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Recommended By: |
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Signed By: |
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Michael Pelliccio - Director of Facilities III |
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Signed By: |
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Tom Collich - Purchasing Director |
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Signed By: |
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Finance Department - Finance Reviewer |
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Signed By: |
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Elizabeth Janocha - Deputy Commissioner |
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Signed By: |
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John Liszewski - Commissioner |
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Signed By: |
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Matthew Gallagher - Corporation Counsel |
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Signed By: |
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Anibal Soler, Jr. - Superintendent of Schools |
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Vote Results:
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| Original Motion | Member Kevin Cacace Moved, Member Sheila Greenwald seconded to approve the Original motion 'WHEREAS the Administration wishes to procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2024-2025, and
WHEREAS proposals were obtained and analyzed by the District’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS Zurich American Insurance Company has submitted a proposal which meets the Yonkers Public Schools specifications and requirements.
NOW THEREFORE BE IT RESOLVED: That the Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2024-2025 be awarded as follows:
Zurich American Insurance Company
1299 Zurich Way
Schaumburg, Illinois 60196-1056
Total: $1,533,200.00
Term: 365 calendar days
AND BE IT FURTHER RESOLVED: That the Board of Education hereby authorizes the Superintendent of Schools to award Property Insurance, including Boiler, Machinery and Terrorism coverage with the above mentioned firm through our insurance broker, Nausch, Hogan and Murray, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0. | | The motion Carried 6 - 0 | | | | | Felix Rios | Yes | | Rosemarie Linton | Yes | | Sheila Greenwald | Yes | | Gail Burns | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Kevin Cacace | Yes | |
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