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Meeting Date:
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7/19/2023 - 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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16.6 Change Order 1 “Additional Excess Coverage” for Automobile Fleet Coverage for $55,623.00 to Philadelphia Indemnity Insurance Company
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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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Change Order 1 is for “Additional Excess Coverage” to our automobile fleet coverage, for $55,623.00, to Philadelphia Indemnity Insurance Company (A++) for 365 calendar days.
The total cost for the $5 million limit of insurance, 100% with Philadelphia Indemnity Insurance Company on an admitted basis, is $248,708.00 ($193,085.00 for the primary $1 million plus $55,623.00 for the $4 million excess of the $1 million primary).
Philadelphia Indemnity Insurance Company has again presented the most competitive offer, affording Yonkers Public Schools’ seamless automobile liability coverage for the same limit of $5 million that has been carried by the District for the past several years.
Auto Insurance Coverage is $193,085.00, which is an increase of $16,659.00 (9.1%) over a single year. The Excess Liability Insurance providing another $4 million in coverage in liability is $55,623.00, which is an increase of $3,608.00 (6.4%).
Term is from July 1, 2023 to June 30, 2024.
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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: “Additional Excess Coverage” to our automobile fleet coverage, for $55,623.00 to Philadelphia Indemnity Insurance Company (A++) for 365 calendar days, and
WHEREAS: The total cost for the $5 million limit of insurance, 100% with Philadelphia Indemnity Insurance Company on an admitted basis, is $248,708.00 ($193,085.00 for the primary $1 million plus $55,623.00 for the $4 million excess of the $1 million primary), and
NOW THEREFORE BE IT RESOLVED: That the Superintendent of Schools is hereby authorized to issue Change Order 1 to the 2023-2024 “Fleet Auto Policy” to Philadelphia Indemnity Insurance Co. One Bala Plaza, Suite 100, Bala Cynwyd, Pa 19004 for a total of $55,623.00 for 365 calendar days.
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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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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Kevin Cacace Moved, Member Dr. John Castanaro seconded to approve the Original motion 'Ladies and Gentlemen;
WHEREAS: “Additional Excess Coverage” to our automobile fleet coverage, for $55,623.00 to Philadelphia Indemnity Insurance Company (A++) for 365 calendar days, and
WHEREAS: The total cost for the $5 million limit of insurance, 100% with Philadelphia Indemnity Insurance Company on an admitted basis, is $248,708.00 ($193,085.00 for the primary $1 million plus $55,623.00 for the $4 million excess of the $1 million primary), and
NOW THEREFORE BE IT RESOLVED: That the Superintendent of Schools is hereby authorized to issue Change Order 1 to the 2023-2024 “Fleet Auto Policy” to Philadelphia Indemnity Insurance Co. One Bala Plaza, Suite 100, Bala Cynwyd, Pa 19004 for a total of $55,623.00 for 365 calendar days.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0 Abstain: 1. | | The motion Carried 6 - 0 | | | | | Rev. Steve Lopez | Yes | | Kevin Cacace | Yes | | Dr. John Castanaro | Yes | | Gail Burns | Abstain | | Sheila Greenwald | Yes | | Rosemarie Linton | Yes | | Lawrence Sykes | Yes | |
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