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Meeting Date:
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6/14/2022 - 6:00 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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20.14 Award Annual District Automobile Insurance and Excess Liability Insurance to Philadelphia Indemnity Insurance Co for $228,447.00
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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 2022-23 to Philadelphia Indemnity Insurance Co. Group in the amount of $228,447.00 this $35,452.00 or 18.4% higher than last year. Reportedly, this is due 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 $172,432.00 which is an increase of $23,477.00 (16%) over a single year.
The Excess Liability Insurance providing another $4 million in coverage in liability is $52,015.00 which is an increase of $8,015.00 (18.2%)
Term is from July 1, 2021 to June 30, 2022
This is to authorize administration to award the contract for District Automobile Insurance and Excess Liability Insurance for fiscal year 2022-2023. 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 in 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 Auto and Excess Auto Insurance for the fiscal year 2022-2023, 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 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 $228,447.00 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 $228,447.00 for 365 calendar days.
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s Auto and Excess Auto School 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 Lawrence Sykes seconded to approve the Original motion 'Ladies and Gentlemen;
WHEREAS, the Administration wishes to award the Auto and Excess Auto Insurance for the fiscal year 2022-2023, 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 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 $228,447.00 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 $228,447.00 for 365 calendar days.
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to purchase District’s Auto and Excess Auto School 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: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | Rev. Steve Lopez | Yes | | Kevin Cacace | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Dr. John Castanaro | Yes | | Gail Burns | Yes | | Sheila Greenwald | Yes | | Amjed Kuri | Yes | | Lawrence Sykes | Yes | |
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