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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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20.15 Award Annual Property, Boiler, Machinery and Terrorism Insurance for 2022-23
$1,335,918.00 vs. $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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This is to authorize the administration to award the contract for Property Insurance, (including Boiler, Machinery and Terrorism Insurance) for 2022-23 fiscal year.
AWARD OF GENERAL FUND Contract for Property, Boiler & Machinery Insurance for 2022-2023 to the Travelers Indemnity Company for an annual premium of $1,335,918.00. This is an increase of $300,360.00 or 23.19% over last year. Term is from July 1, 2022 to June 30, 2023
Proposals (in 50 markets) 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.
Zurich American Insurance was the only one to submit a proposal but it is recommend by NHM that the District stay with Traveler's. Other firms were not interested in quoting could 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 2022-2023, 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 that 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 2022-2023 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $1,335,918.00
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to award this contract.
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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 procure Property Insurance, including Boiler, Machinery and Terrorism coverage for the fiscal year 2022-2023, 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 that 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 2022-2023 be awarded as follows:
The Travelers Indemnity Company
One Tower Square
Hartford, Ct 06183
Total: $1,335,918.00
AND BE IT FURTHER RESOLVED, that the Board of Education hereby authorizes the Superintendent of Schools to award this contract.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | Dr. Rosalba Corrado Del Vecchio | Yes | | Rev. Steve Lopez | Yes | | Kevin Cacace | Yes | | Dr. John Castanaro | Yes | | Gail Burns | Yes | | Lawrence Sykes | Yes | | Sheila Greenwald | Yes | | Amjed Kuri | Yes | |
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