12/12/88 Board of Public Works Minutes

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REGULAR MEETING DECEMBER 12, 1988 - Studebaker Museum ($1,137,160) with $2,500 Incl. Deductible - Miscellaneous Property ($1,500,000) with $1,000 Incl. Deductible - EDP - Scheduled ($182,985) Unscheduled ($250,000) Deductibles $500 Basic/$5,000 Special Incl. Mobile Equipment ($993,670) with $2,500 Deductible Incl. - Safetyville Equipment ($64,000) with $250 Deductible Incl. - Glass with $1,000 Deductible Incl. - Valuable Papers & Records ($1,000,000) with $25,000 Incl. Deductible - Boiler & Machinery (through Hartford Steam Boiler) 6,045 - $1,000,000 Real - Other Locations with $25,000 Incl. Deductible - $1,000,000 Personal - Other Locations with $25,000 Incl. Deductible TOTAL: $115,607.00 All risk, replacement cost, agreed amount coverage. GIBSON INSURANCE AGENCY, INC. 404 South Columbia Street, Suite 200 South Bend, Indiana 46601 Proposal was submitted by Mr. Gregory S. Downes, Vice - President and is as follows: PREMIUM RECAP: I. Real and Personal Property $89,349 + East Race Waterway Park 9,259 + Keeper of The Fire 519 $99,127 II. Boiler and Machinery 3,211 III. Inland Marine 17,110 IV. Business Income Included in Section I V. Glass Not Quoted Separately VI. Valuable Papers 1,920 VII. Premises Liability 72,566 VIII. Worker's Compensation 235,129 VIX. Bonds 5,277 TOTAL ANNUAL PREMIUM $434,340 (Excluding options) Mr. Leszczynski stated that 1st Source Insurance, P.O. Box 1602, 100 North Michigan Street, South Bend, Indiana, has advised that they will not be submitting a bid at this time.