City of Reno
Nevada

Staff Report
8794

Staff Report (For Possible Action): Approval of endorsement to excess liability insurance policy for coverage of newly acquired vehicles with authorization for the City Manager or designee to execute all documents required and accept the endorsement for insurance coverage on the newly acquired vehicles in the amount of $1,299. (Risk Management Fund)

Information

Department:City AttorneySponsors:
Category:Agreement

Recommendation and Proposed Motion

Recommendation:  Staff recommends Council approve the endorsement to the City’s excess liability insurance policy for coverage of newly acquired vehicles with authorization for the City Manager or designee to execute all documents required to accept the endorsement and to authorize payment in the amount of $1,299 for the additional insurance coverage. 

 

Proposed Motion:  I move to approve the staff recommendation.

 

Staff Report Formal Body

Summary: Staff recommends approval of an endorsement to the City’s excess liability insurance policy, which endorsement amends the number of insured vehicles from 712 to 751, and authorizing payment in the amount of $1,299 for the additional insurance coverage. 

 

Discussion:  Since the time the City’s excess liability insurer, Argonaut Insurance Company (Argonaut), quoted the price for the excess liability insurance coverage for the time period running from September 1, 2017 through August 31, 2018, the number of vehicles in the City’s fleet increased from 712 to 751.  The increase in the insurance premium to cover the additional vehicles is $1,299, reflected in the attached endorsement to the insurance policy. 

 

Financial Implications:  The premium payment is budgeted in the Risk Management Fund.

 

Legal Implications: Amounts of insurance coverage and coverage limits are a policy decision.  However, it is recommended that the City maintain excess liability insurance for large claims. 

 

Meeting History

Oct 11, 2017 9:00 AM Video Reno City Council Regular
RESULT:APPROVED [UNANIMOUS]
MOVER:Naomi Duerr, Councilmember
SECONDER:David Bobzien, Councilmember
AYES:Jenny Brekhus, Naomi Duerr, Oscar Delgado, Neoma Jardon, David Bobzien
ABSENT:Hillary Schieve, Paul McKenzie