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Meeting Date:
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6/16/2021 - 5:00 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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16.15 AWARD GF PROPERTY INSURANCE TRAVELRS $1,035,588.00
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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 GENERAL FUND Contract for Property, Boiler & Machinery Insurance for 2021-2022 to the Travelers Indemnity Company for an annual premium of $1,035,588.00. This is an increase of $93,744 or 8.9 % over the expiring premium.
Term is from July 1, 2021 to June 30, 2022
This is to authorize the administration to award the contract for Property Insurance, (including Boiler, Machinery and Terrorism Insurance) for 2021-22 fiscal year. Proposals were solicited and analyzed by the District's broker, Nausch, Hogan and Murray. Travelers Indemnity Co., the incumbent provider, has provided the most competitive proposal. Besides Travelers, request for proposals were send to seven other companies, these companies were either not interested in providing a quote or they did not meet coverage requirements.
The increased premium is attributed to an increase in the estimated replacement value of the building stock and contents and to some extent the recent claims history.
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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 procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2021-2022, and
WHEREAS, proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS, The Travelers Indemnity Co. has submitted a lowest 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 2021-2022 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $1,035,588.00
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 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 Gail Burns seconded to approve the Original motion 'Ladies and Gentlemen:
WHEREAS, the Administration wishes to procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2021-2022, and
WHEREAS, proposals were obtained and analyzed by the Board’s insurance broker, Nausch, Hogan and Murray, and
WHEREAS, The Travelers Indemnity Co. has submitted a lowest 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 2021-2022 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $1,035,588.00
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 insurance broker, Nausch, Hogan and Murray, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | Sheila Greenwald | Yes | | Gail Burns | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Abdool H. Jamal | Yes | | Dr. John Castanaro | Yes | | Kevin Cacace | Yes | | Andrea Brown | Yes | | Rev. Steve Lopez | Yes | |
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