SUBJECT
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Authorizing the City Manager to purchase insurance renewal coverage for the City of Laredo Roots Recovery Center (in-hospital detox center) to include $1,000,000 per occurrence/$3,000,000 annual aggregate for general liability including products and completed operations, $1,000,000 each claim/$3,000,000 aggregate for professional liability, $10,000,000 umbrella and $3,000,000 non-owned and hired auto liability beginning August 1, 2024 through August 1, 2025, for a total amount of $214,363.72 to be paid from the American Rescue Plan Act Fund.
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PREVIOUS COUNCIL ACTION
On July 31, 2023, the Laredo City Council authorized the City Manager to purchase insurance coverages for the City of Laredo Roots Recovery Center.
BACKGROUND
The City of Laredo has once again contracted with RWL Group to conduct RFP FY24-069 for general liability, professional liability non-owned and hired automobile liability and umbrella liability insurances to cover the operations of the Roots Recovery Center. One agent provided a response to the RFP. USI Southwest, Inc. provided quotes for all coverages requested.
The attached spreadsheet outlines the various coverages and costs that have been quoted for a total of $214,363.72.
This year shows an increase in the general liability and professional liability package policy. A claims made policy coverage is based on when a claim is made or presented, not when the incident that leads to a claim actually happens. A new claims made policy will have a retroactive date that is the same date as the effective date of the policy, which means that if a claim is made based on occurrence that happened prior to the retroactive date, the claims made policy does not cover it. As the claims made policy renews, it keeps the same retroactive date, which means that the renewal policy provides coverage for claims made during the new policy term but the occurrence that results in the claim is still any date on or after the retroactive date. ...
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