CC MIN 1978 - Laserfiche WebLink

Browse Search

2 44 DirecLOr of Finance Ference ;:o��^�er,�" �� :p17 �. co c��+c�.s concerning the difference between t« fCe .,�d �cmmiss�on :.rran5�- ments, the desirabil�ty of ra,�n5 ��w�, c�F.� spec ..17sts nancle the City's insurance, the experience of rhe two f�r�s mentionea in M s report, the experience of the �i�� w�th �ne - �~cxer o° record described in his report tne •�:.essity for w.:ercrarc � coverage, whether or not it is aes�rao�e �ur one ercker to handle aii insurance for the City, whether perfo��ance improvement fror^ the current broker can be expectea, tne desirabllity of knowing total cost of insurance inciuding commiss�cns or �ees, and tne desirability of purchasing insurance as economica�ly as poss In response to quest�on, City Attorney Schricker advised ccncern- ing the City's liability with regard to watercraft, noting that for economic reasons, insurance for the Port has been placed by the City also Leonard Greenwold Boring-Reifenrath, Greenwold-Vreeburg, the broker of record advised that Mr Reifenrath who has handled the City's account is presently ill and that he is not personally familiar with the C�ty's account and did not know a problem existed until Friday, June 2 Mr Greenwold suggested that some of the issues raised in the Director of finance's report may not be ,7ustified ana requested that the firm be allowed additional time to prepare a response in recognition of the 25 years the firm has represented the City. , Lengthy discussion followed ar�d Mr Greenwold and Mr. Fales and Mr Schricker cormnented and replie� to questions concerning details of the City's expertence with the � broker, the desirability � of the City's insurance beiny place� lGCdi whether the mum c�pal markets are plentiful, the de�ire cc := fair to the present broker �� permitting response, the facz that Lhe City must have the in- surance by Juiy l, 1978, the l�yal aspec�s of attempting to obtain quotes from different �rokers�and how knowledgeable the princ�pals o` the firm are of the City's account Nr,TIC;�a Councilman Biagi moved, seconded 'oy Counc�iman Bury, that the D7rector of Finance return to both firms which submitteG pr�.,,�s��s on a fee basis (Kindler and Laucci and Bayly, Martir ai2� fay, Inc.) and obtain firm �uo�es and tr�at Leonard Greenwola come t�ck �o �ouncii witn an alterrate proposal from Boring-Reinfenra±h, �reenwold-Vreeburg or with ,7ustiftcat�on for their proposa7 as i� stands F,GDi"�iON TO MOiION Councilman Siay�, with the consent of his seccnd, :dded c'�at, ir� recogmtion of the need for the insurance by July �, Lnat �nt �nr�ormation be bro�_ r bac'< 5y June 12 or 13 to allow r„�e for review by staff and placerr��.r,t on z��e Agenda for June 19, 197& C!ARIFiCATION Councilman Biag� stated tnat it is the intent of n�� motion that al� insurance is �o �e re since tne due da�es a�e the sz�ae, �u� that the primary interes� is in the liability c�ve�- age � -5- Reg Mty � / 5, 78 � I