Insurance (Contracts)_August to September 1978INSURANCE (Contracts)
(continued)
to be effective 9/1/78, the expiration date
of City's current policies and; 3) the Admini-
stration, subsequent to negotiation, present
their recommendations to Commission at the
meeting of Sept. 6, 1978.
Memo #7029, ambulance service malpractice
liability insurance coverage for a 1 -yr. term
effective 9/1/78, bid amount: $14,625. Awarded,
Seitlin & Co. for Illinois Employers Insurance
of Wausau for their alternate proposal "A",
providing coverage for Fire Rescue doctors as
set forth in Commission Memo. (See Doctors on
Ambluances )
37
Date
8/2/78
8/2/78
INSURANCE (Contracts) 38
Date
Memo #7077, comprehensive general and auto 9/6/78
liability insurance coverage for a 3 -yr. term,
bid amount: $939,610 per year (including
settlement estimate). Awarded to Adae &
Hooper Insurance Co., as follows: Policy #1 -
Great Atlantic Insurance - $250,000 per occur-
rence and $250,000 aggregate; Policy #2 -
Great Atlantic Insurance - $1,000,000 over the
base of $250,000; Policy #3 - American Centennial
$4,000,000 over the base of $1,250,000. Total
premiums for Policies 1, 2 and 3, $879,610 per
year, flat fee, for a 3 -yr. term, with add-on
charge up to 8% for all settlements (estimated
at $50,000 per year). Total award in estimated
amount of $939,610. No deductible up to
INSURANCE (Contracts) 39
(continued) Date
$5,200,000. Insurance Agent Ben Wolf appeared
and requested that he also be designed the
Agent of Record. Discussion held. City Atty.
requested to meet with Mr. Wolf and Mr. Elton
Carey to discuss matter. 9/6/78
Memo #7084, insurance coverage for library 9/20/78
system books and other valuable papers for a
1 -yr. period, bid amount: $5,149.00. Awarded,
Fred S. James of Fla., Inc., representing
St. Paul Fire & Marine Insurance Co.