HomeMy WebLinkAboutMINUTES Public Buildings and Parks Committee 1964-06-020(3 C2
RECORD OF PROCEEDINGS
Public Buildings and Parks Committee
June 2,1964
Committee:Chairman Leo Martin,Trustees Ronald.Brodie and C.M.Hunter
Attending:Chairman Leo Martin,Trustees Ronald Brodie and C.M.Hunter
Also Attending:Town Clerk Dale G.Hill
This meeting was called for the purpose of discussing the Town’s insurance
program.
Mr.Chas.F.Hix and Mr.Charles H.Jones presented an insurance proposal
which would incorporate all of the present insurance coverage,except for
Workmens Compensation Insurance,into one comprehensive insurance policy.
Mr.Hix’s letter submitting the proposal is made a part of these proceedings
and is attached hereto.
Mr.Ed Palmer and Mr.John Ramey presented an insurance proposal from the
Etna Insurance Group.This proposal would include all of the present
insurance coverage except Auto,Workmens Compensation,Performance Bonds
and Burglary.
Both of the preceeding insurance proposals indicate the Town can effect
a considerable savings by incorporating all of its insurance into one
policy.
After considerable discussion,the Committee decided to write a letter
to each of the four insurance agents now writing Town insurance and ask
them to submit to the Committee by September 16,their individual suggestions
and proposals as to how much and what kind of insurance the Town should
have.
The Committee suggests the Town use one of the following methods or a
combination of both in its insurance program:
1.Invitation to Bid.
2.Negotiating the insurance premium and dividing
it between the present agents.
The Town Clerk was instructed to check on insurance coverage on the
Substations and Horse Barns.
Meeting adjourned.
Dale G.Hill,Town Clerk
Q0r oQ
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INSURANCE SERVICE
June 1,1964 ESTES PAFK,COLORADO
Board of Trustees
Town of Estes Park
P.0.Box 1200
Estes Park,Colorado
Re:Insurance Coverages
Gentlemen:
I am pleased to submit proposal for a Comprehensive Insurance
Policy,which would incorporate in one policy at a considerable savings
all of the present insurance coverage,except for Workmen’s Compensation
Insurance.
Section I -Insurance on Buildings and Contents would be divided into three
major divisions as follows:
1.Blanket Insurance on a Replacement Cost basis in the amount
of $235,000 for perils of fire,extended coverage,vandalism and
malicious mischief using Public and Institutional Form No.1 (as at
present)covering the following buildings and their contents (if any):
Town Hall,Library,Fire Department,Police Department,Jail;
Public Comfort Station;Garage and Shop;Electric Warehouse,office
and shop;Storage Electrical Supplies;New Repair Garage;Settling
Basin (Prospect Mountain);Water Treatment Plant (Fall River);New
Settling Basin (Black Canyon).
2.Blanket Insurance on an actual cash value basis in the amount of
$65,000 for perils of fire,extended coverage,vandalism and malicious
mischief using Public and Institutional Form %l covering the following
buildings;Chamber of Commerce office;at Stanley Park-Stables,Ticket
Office,Rest Rooms,Grandstand,Corrals,Chutes and Pens;at Power
Plant -Dwelling,Private Garage and cottage.
3.Specific insurance as scheduled below on an actual cash value
basis subject to 80%coinsurance clause for perils of fire and
extended coverage only:
a.Hydro-Electric Generating Station,Building $10,000
Contents $12,500.
5.Outside Substation (at Hydro Plant)$7,500
c.Poles in open at junction of North St.Vram and Big
Thompson Highways,$4,000 (not insured at present).
d.Outside substation at junction of North St.Vram and
Big Thompsor Highways,$100,000 (not insured at present)
Note:Under items 41 &2 above it is only required to carry 90%of
filed values.However,any loss will be paid in full,including a
total loss on any building and its contents.
Section II -This section covers liability for Town premises and operations
for claims arising out of bodily injury only (not property damage)with level
limit of $300,000.This section will be supplemented by property damage
coverage for same limits as now covered for $50,000/$l00,000,covering
operations of Power and Light Department only.
Section V -Motor Vehicles.This section will cover auto bodily injury and
Property Damage and Physical Damage with the same coverages,limits and
amounts as at present.These coverages are now under United States Fidelity
and Guaranty policy CGA 793659 and Home of N.Y.Policy A 6103957.
Section VI -Theft and Dishonesty will provide Blanket Position Bond for same
amounts and persons as now covered.This section will also include $1,000
Broad Form Money and Securities coverage in City Hall.
Our annual premium for all of the foregoing will be $4,683.00.
The present estimated annual cost for all insurance,excluding Workmen’s
Compensation is $6,545.00.Consequently,the proposed policy provides
more coverage at an estimated savings of $1,862.
We enclose the company advertising folder which shows pictorially some of
the features of the Comprehensive Insurance Policy as it would apply to your
situation.
Please advise if we can be of further assistance.
Yovry,
CH:lh
Enc.