Broken Arrow City Council
Meeting of: 07-05-2016
To: Mayor and City Council
From: Office of the City Manager
Title:
title
Approval to Purchase the Fiscal Year 2016-17 Battle Creek Golf Course Business Insurance Policy with Philadelphia Insurance Company
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 2016-17 is presented for the Council’s approval.
Philadelphia Insurance Company 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 $1,000,000.00 in general liability coverage per occurrence with a $2,000,000.00 general aggregate. There is also a separate $1,000,000.00 umbrella policy with the same carrier. The total combined annual premium is $40,615.00. This represents a decrease of $3,484.00. Philadelphia Insurance Company is rated Superior (A++) by AM Best Company. Staff recommends that the Council approve the Policy.
Cost: $40,615.00
Prepared By: Jannette McCormick, Acting Human Resources Director
Reviewed By: Finance Department
Assistant City Manager - Administration
Legal Department
Approved By: Michael L. Spurgeon, City Manager
Attachments: Battle Creek Golf Course Renewal Letter of Recommendation
Recommendation:
Approve the purchase of Business Insurance for Battle Creek Golf Course from Philadelphia Insurance Company.