06/20/2011 Meeting Minutes - Laserfiche WebLink

Home Browse Search

Minutes of the Regular Meeting of Council Monday, June 20, 2011 Page 6 NEW BUSINESS Motion to amend the agenda Council President Buckholtz stated this is for the purposes of considering the item on Wichert Insurance which I will explain in detail. Mr. Saponaro, seconded by Mrs. Cinco, made a motion to amend the agenda. Roll Call: AYES: All NAYS: None Motion Carried Agenda Amended Motion to approve an expenditure rnot to exceed $65,000 to Wichert gnsurance for our annual Comprehensive General Liability insurance for 2011-2012. Mr. Saponaro, seconded by Mrs. Mills, made a motion to approve an expenditure not to exceed $65,000 to Wichert Insurance for our annual Comprehensive General Liability insurance for 2011-2012. Council President Buckholtz asked Mr. Wynne to report on this expenditure. Mr. Wynne reported, our property and casualty insurance runs from July lst to June 30th of every year. Just today I received an e-mail from our insurance consultant with the renewal pricing. I will be meeting with him tomorrow to review the detail. In 2009, our premiums for property and casualty insurance were about $92,000. We went out to market last year and had it competitively bid. As a result, we saved $24,000. It came in around $68,000. Our renewal pricing for this coming year will be another savings of $4,000. It will be around $64,000. I apologize for putting it on the agenda so quickly this evening but our insurance does expire at the end of this month and we just received the pricing from our consultant. Council President Buckholtz asked, it's lower again? Mr. Wynne replied, yes. Mayor Rinker asked, same coverage? Mr. Wynne replied, yes, same exact coverage. Council President Buckholtz asked if there were any questions. Mr. Saponaro stated, it's property and casualty, umbrella coverage. It's an extensive policy. Council President Buckholtz asked, you discussed it in Finance?