Broken Arrow City Council
Meeting of: 06-15-2017
To: Mayor and City Council
From: Office of the City Manager
Title:
title
Approval to purchase the Fiscal Year 2017-18 Battle Creek Golf Course Business Insurance Policy with Philadelphia Insurance Companies
End
Background:
The City of Broken Arrow owns Battle Creek Golf Course. Due to the nature of this operation and the significant capital investment, the City maintains general liability and property damage insurance on all buildings and equipment. The annual renewal of Business Insurance for Battle Creek Golf Course for fiscal year 2017-18 is presented for the Council’s approval.
Philadelphia Insurance Companies currently provides insurance protection for the golf course. It is recommended that the City continue its policy for the upcoming fiscal year. The new policy will provide $2,189,467.00 in blanket building coverage, $1,521,757.00 in mobile equipment coverage and $1,000,000 in general liability coverage per occurrence with a $2,000,000.00 general aggregate. There is also a separate $1,000,000 umbrella policy with the same carrier. The total combined annual premium is $41,293.00. Philadelphia Insurance Companies is rated Superior (A++) by AM Best Company.
Funding for the coverage was budgeted in the General Government accounts of the General Fund and BAMA.
Cost: $41,293.00
Prepared By: Jannette McCormick, Human Resources Director
Reviewed By: Finance Department
Russell M. Gale, Assistant City Manager - Administration
Legal Department
Approved By: Michael L. Spurgeon, City Manager
Attachments: Battle Creek Golf Course Coverage Proposal
Recommendation:
Approve the purchase of Business Insurance for Battle Creek Golf Course from Philadelphia Insurance Companies.