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Insurance Coverage Purchase or Renewal for General Operations and Environmental Risks
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RESOLVED, by the Milwaukee Metropolitan Sewerage Commission, that the Executive Director is authorized to renew, to purchase, or to direct the District’s insurance broker to renew or to purchase the following insurance policies for the policy period of October 1, 2016, through September 30, 2018, in the following amounts:
• Property/Equipment Breakdown/Pipeline insurance policy through AIG for an estimated premium of $1,154,000.
FURTHER RESOLVED, by the Milwaukee Metropolitan Sewerage Commission, that the Executive Director is authorized to renew, to purchase, or to direct the District’s insurance broker to renew or to purchase the following insurance policies for the policy period of October 1, 2016, through September 30, 2017, in the following amounts:
• Commercial Vehicle insurance policy through EMC Insurance for an estimated premium of $25,268.
• Commercial Excess Liability insurance policy through Ohio Casualty for an estimated premium of $12,944.
• Commercial Crime insurance policy through AIG for an estimated premium of $7,863.
• Excess Workers Compensation insurance policy through Midwest Employers Casualty for an estimated premium of $64,105.
• Marine Protection and Indemnity and Hull insurance policies through IMU for an estimated premium of $19,788.
• Excess Protection and Indemnity insurance policy through IMU for an estimated premium of $4,961.
• Cyber Liability insurance policy through Hiscox for an estimated premium of $19,726.
FURTHER RESOLVED, by the Milwaukee Metropolitan Sewerage Commission, that the Executive Director is authorized to renew, to purchase, or to direct the District’s insurance broker to renew or to purchase the following insurance policies for the policy period of November 1, 2016 through September 30, 2019 with the following insurers and in the following amounts (prepaid at policy inception):
• Environmental site liability insurance policy through Philadelphia (Tokio Marine) for an estimated premium of $131,296.
• Excess environmental site liability insurance policy through Allianz for an estimated premium of $56,934.
FURTHER RESOLVED, by the Milwaukee Metropolitan Sewerage Commission, that, in the event that the District’s insurance broker can obtain lower premiums from these or other insurance carriers for the same coverage and deductibles, the Executive Director is authorized to renew any of these policies with the lower cost insurance carrier.