Title
RECOMMEND ACCEPTING INSURANCE PROPOSAL FROM
VFIS FOR THE FIRE DEPARTMENT'S ASSETS AND LIABILITY COVERAGE
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
Recommend moving Fire Department assets from AMIC insurance policy to a policy proposed by VFIS. The VFIS policy is designed for Fire Departments and is much more comprehensive than that of AMICs.
SOURCE OF FUNDING:
Please provide the amount requested: $13,188
Is this a budgeted item? Yes
Please provide the budgeted amount: $_____________ Account No. 01-609-2140
If budgeted, is this a capital purchase, capital project, or special fund? No
Was this item included in the Fiscal Year Capital Projects Plan? No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, the Fire Department has a need for a more comprehensive coverage of its equipment and vehicles, and,
WHEREAS, VFIS was developed specifically to meet the needs of fire departments, and,
WHEREAS, VFIS, a division of Glatfelter Insurance Group, has made a proposal, and,
WHEREAS, the Foley Fire Department desires to take advantage of a portion of their coverage to include portable equipment, automobile, general liability, and management liability, and,
WHEREAS, in addition, the Fire Department has a need for excess coverage.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Recommends accepting VFIS's proposal to insure the Fire Department's portable equipment, automobiles, general liability, and management liability in the amount of $25,039, which is $8,198 more than what was budgeted to account 01-609-2140.
SECTION 2: Accepts VFIS's proposal for Excess Liability coverage with an umbrella policy in the amount of $4,000,000 per occurrence and $8,000,000 annual aggregate at a cost of $4,990.00.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.
PASSED, ADOPTED AND APPROVED this 17th day of September, 2012.