12/03/85 Board of Public Works Minutes

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REGULAR MEETING DECEMBER 3, 1985 P 1 1 LONDON PACKAGE OPTION I Fixed Costs: London Package $ 315,000 Drop Down 7,500 Excess Property 99,000 Excess WCA 16,500 Self -Insurance Bond 1,500 Administration Fee 50,000 *Gallagher Bassett Services 57,560 Inspection Fee 2,500 Total Fixed Costs: $ 549,560 Terms: Maintenance Deductible Self -Insured Retentions Property Third Party WCA Loss Fund Fixed Costs: (estimated) (estimated) (estimated) $ 1,000 (see attached diagram) 100,000 100,000 100,000 650,000 LONDON PACKAGE OPTION II London Package $ 272,000 Drop Down 7,500 -Excess Property 99,000 =Self -Insurance Bond 1,500 Administration Fee 50,000 *Gallagher Bassett Services 37,560 Inspection Fee 2,500 Total Fixed Costs: $ 470,060 Terms: (estimated) (estimated) (estimated) Maintenance Deductible $ 1,000 Self -Insured Retentions (see attached diagram) Property 100,000 Third Party 100,000 Loss Fund 500,000 Additionally, the service fees to provide claims management, loss prevention and information services are as follows: Property $ 3,840 Automobile 22,155 General Liability INCL. Worker's Compensation 20,115 RISX-FACS 3,600 Loss Prevention 5,250 Administration Fee 2,500 Total Costs $ 57,460 Some coverages may be purchased through insurance sources and may not require adjustment services. Those coverages can be deducted. The proposal submitted by Arthur J. Gallagher and Company indicates that they are submitting their London Package Program which is a self-insurance product that encompasses the following coverages: property, general liability, police liability, automobile, contractors' equipment and workers' compensation. The proposal further indicated that the London marketplace is currently changing most of its liability forms from occurrence to claims made. Due to the fact that the City's expiration date is