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Meeting Date:
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6/21/2023 - 5:30 PM
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Category:
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SCHOOL FACILITIES MANAGEMENT
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Type:
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Action
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Subject:
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19.15 Award District Automobile Insurance and Excess Liability Insurance to Philadelphia Indemnity Insurance Co. for $193,085.00
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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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Award of a general fund contract for District Automobile Insurance and Excess Liability Insurance for 2023-24 to Philadelphia Indemnity Insurance Co. in the amount of $193,085.00. This $15,570 or 8.7% higher than last year. Reportedly, this is due to an increase in the number of claims and a high loss ratio.
The above is comprised of the two following components:
Auto Insurance Coverage is $137,462 which is an increase of $11,962.00 (8%) over a single year.
The Excess Liability Insurance providing another $4 million in coverage in liability is $55,623 which is an increase of $3,608.00 (6.4%)
Term is from July 1, 2023 to June 30, 2024.
This is to authorize the administration to award the contract for District Automobile Insurance and Excess Liability Insurance for fiscal year 2023-2024. Proposals were garnered and analyzed by the District's broker, Nausch, Hogan and Murray (NHM). Philadelphia Indemnity Insurance Co., the incumbent provider, has submitted the most advantageous proposal maintaining expiring conditions which combine primary and excess policies with limits $1,000,000 and $4,000,000 (total limit $5,000,000) respectively. The quote also takes into consideration claims made during last year and claims that were reopened which date back to several years.
In addition to Philadelphia, NHM requested quotes from CNA, SOMPO International, Allianz, Hanover, Chubb and Applied Underwriters all of whom declined to quote.
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Funding:
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450.5303.100000.1910. B2310 General Fund- Insurance
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Resolution:
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Ladies and Gentlemen;
WHEREAS, the Administration wishes to award the Automobile Insurance and Excess Liability Insurance for the fiscal year 2023-2024, and
WHEREAS, Proposals were obtained by the Board's insurance broker, Nausch, Hogan and Murray for the Yonkers Public Schools/City of Yonkers, and
WHEREAS, Philadelphia Indemnity Insurance Co. submitted a proposal that meet all of the Yonkers Public Schools specifications and requirements for Primary Auto Insurance and Excess Liability Insurance and the proposal in the amount of $193,085.00 has been deemed acceptable
NOW THEREFORE BE IT RESOLVED: That the Superintendent of Schools is hereby authorized to award the above contract to Philadelphia Indemnity Insurance Co. One Bala Plaza, Suite 100, Bala Cynwyd, Pa 19004, for a total of $193,085.00 for 365 calendar days.
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s Automobile Insurance and Excess Liability Insurance Coverage from the above mentioned firm through 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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John Carr - Executive Director
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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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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Kevin Cacace Moved, Member Rosemarie Linton seconded to approve the Original motion 'Ladies and Gentlemen;
WHEREAS, the Administration wishes to award the Automobile Insurance and Excess Liability Insurance for the fiscal year 2023-2024, and
WHEREAS, Proposals were obtained by the Board's insurance broker, Nausch, Hogan and Murray for the Yonkers Public Schools/City of Yonkers, and
WHEREAS, Philadelphia Indemnity Insurance Co. submitted a proposal that meet all of the Yonkers Public Schools specifications and requirements for Primary Auto Insurance and Excess Liability Insurance and the proposal in the amount of $193,085.00 has been deemed acceptable
NOW THEREFORE BE IT RESOLVED: That the Superintendent of Schools is hereby authorized to award the above contract to Philadelphia Indemnity Insurance Co. One Bala Plaza, Suite 100, Bala Cynwyd, Pa 19004, for a total of $193,085.00 for 365 calendar days.
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s Automobile Insurance and Excess Liability Insurance Coverage from the above mentioned firm through insurance broker, Nausch, Hogan and Murray, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Lawrence Sykes | Yes | | Gail Burns | Yes | | Rosemarie Linton | Yes | | Dr. John Castanaro | Yes | | Rev. Steve Lopez | Yes | | Kevin Cacace | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | |
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