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164 <br />Mr. Feneli stated, per Section 2 of the Resolution, the Clerk <br />of Council is to certify a copy of this Resolution to the <br />Cuyahoga County Auditor. He questioned if this should take <br />place by a certain date. Mrs. Ruggles stated the Resolution will be sent to the Auditor <br />tomorrow. <br />Roll Call: AYES: All <br />NAYS: None Motion Carried <br />Resolution Adopted <br />Mr. Flynri introduced Mr. Ben Sutton, our insurance consultant of <br />the Edward H. Sutton Insurance Company, to Council. He stated <br />Mr. Sutton was asked to attend this meetin,g to answer questions <br />regarding our municipal liability insurance. <br />Mr. Sutton stated bids had been advertised for comprehensive auto <br />and general liability insurance. He stated there were two bidders <br />and it was his opinion that the lowest and best bidder is the <br />Love Insurance Agency. He stated it was his recommendation that <br />Council accept the bid that was for the higher amount of liability <br />coverage. Mr. Sutton explained t.hat bids will be taken in.early <br />March for a"package policy" to be effective on March l5, 1982. <br />He stated at that time the Love Insurance Agency may not_be the <br />lowest bidder. Mr. Sutton stated the policy premium may be <br />placed on a payment plan, that.we would only have to pay 40% of <br />the $10,000.00 total cost of the policy at this time. He stated <br />by the time the second payment period came we would be on the <br />new "package policy". <br />Mr. Feneli questioned the dates of the policy premium periods and <br />if there would be an installment charge. <br />Mr. Sutton stated the first policy period would be from December <br />14 to March 15. He stated there would be three installments; the <br />first of 40%, the second.and third of 30% each. <br />Mr. Carmen questioned the total amount of liability we have, and <br />whether it is an aggregate amount. <br />Mr. Sutton.stated when the new package policy becomes effective <br />we will have an "umbrella" policy. <br />Mrs. Hanus questioned what an "umbrella" policy is. <br />Mr. Sutton explained that it is a catastrophe liability policy <br />that is in effect when any policy has expended its limit.