HomeMy WebLinkAboutR86-995O49
RESOLUTION NO. R86-995
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW,
TEXAS AUTHORIZING THE CITY MANAGER TO ENTER INTO A THREE YEAR
CONTRACT WITH LLOYD C. WOODS FOR RISK MANAGEMENT AND
INSURANCE CONSULTING SERVICE AT AN ANNUAL COST OF $2,750.00.
WHEREAS, the Insurance Industry has been in a turmoil in past
months; and
WHEREAS, said turmoil has resulted in drastic increases for
insurance premiums for the City as well as cancellation of policy;
and
WHEREAS, the City needs to make an effort to identify
alternatives which will assure that the City has adequate insurance
coverage at a reasonable cost; and
WHEREAS, Lloyd C. Woods has demonstrated that he could
provide, as a Consultant, the assistance the City of Plainview needs
in analyzing its insurance needs.
NOW THEREFORE BE IT RESOLVED by the Mayor and the City
Council of Plainview, Texas that the City Manager is hereby
authorized to contract with Lloyd C. Woods in order to provide Risk
Management and Insurance Consulting Services for a three year period
at a annual cost of $2,750.00.
PASSED AND APPROVED this the 25th day of March, 1986.
E V RIDLE~UBER, Mayor
ATTEST:
SHERYL$OWEN, Interim City Clerk
CITY OF PLAINVIEW
RISK MANAGEMENTAND INSURANCE SURVEY
SCOPE OF WORK
a)
Conduct an on-site physical survey of the property and the
operations of the City. In order to complete the project, City
personnel, knowledgeable in all phases of City operations, will
accompany the surveyor.
b)
Conduct a physical survey of the City's property to determine
insurable interest, valuation, replacement cost, etc. This will
be used to determine whether proper coverages have been secured,
adequacy of coverage and whether any changes can easily be
made in order to lower premium charges.
c)
Review all written contracts, and explore the possibility that
there may be oral contracts, that could provide exposure to the
City from contractural obligations.
d)
Review all current personnel, budget, cost allocation,
reporting requirements and recordkeeping functions currently
being performed and recommend the appropriate measures if
necessary to enhance the City's position in said areas.
e)
Identify all potential risks of accidental loss from the
st.andpoint of property, consequential third party liability
risk of all types and crime risk.
f)
Review all current insurance policies to determine coverages,
appropriateness of the coverage to risk, gaps of coverages or
exclusions that unduly expose the City for loss, and identify
changes that are needed to reduce said risk of loss, and when
and if possible to reduce cost.
g)
Do an analysis of all areas where the City may feasibly be self-
insured.
h)
Prepare a complete written report on these activities with
recommendations on exposures the City faces, methods for
handling these exposures, and a preferred method for the City of
Plainview to handle such, based on past experience, budgetary
considerations, personnel .limitations, etc.
i) Preform janitorial services as required, by the City Council.
j)
Do an analysis of the cost of present coverages, with reference
to current market conditions, and provide information on cost of
coverages for cities of similar size and activities to the City
of Plainview. This is to allow a comparison of present premiums
to cities that face similar risk.
k)
Prepare bid specifications for calling for bids and assist in
the tabulation and make a recommendation concerning the award of
bids.
625 AUSTIN --P. O. BOX 518~
PLAINVIEW. TEXAS 7~)O72
February 24, 1986
Mr. Jim Jeffers, City Manager
City of Plainview
Plainview, Texas 79072
Dear Mr. Jeffers:
Regarding my recent conversation with you concerning the possibility of my
becoming a consultant to the City on it's insurance portfolio, my proposal
would entail the following items.
1. Complete study of present insurance contracts.
2. Physical study of all present facilities.
3. Proposals as to-larger deductibles on property and vehicles.
4. Proposals as to self insurance on some items, both property and vehicles.
5. Preparation of all bid specifications if desired.
6. Keep City informed during year of changes which should be made.
7. Available to assist the City Manager on other items if needed.
Since I am restricted on the amount of income I can have, my fee would have
to be kept to a minimum, and of course is subject to a further conference
with you.
I trust the above is what is needed by you; however should additional info-
rmation be needed, please do not hesitate to let me know.
V~ery\truly yours,
LCW/ ss
Dependable Insurance Since 1921
Phone: (806) 293-5204