RESOLUTION NO. 465
AUTHORIZING AGREEMENTS REGARDING ALBANY COUNTY INSURANCE COVERAGE
Introduced: 8/12/24
By Law Committee:
WHEREAS, The Albany County Attorney, upon the recommendation of the County’s insurance consultant, Arthur J. Gallagher Risk Management Services, Inc., has requested authorization to enter into agreements for the County’s insurance coverage, and
WHEREAS, It has been recommended that the County enter into agreements with Safety National for Excess Commercial, General, Automobile, Law Enforcement, Public Officials, and Employment Practices coverage; Arch for Excess insurance; Bowhead for Excess insurance; Traveler’s for Property insurance; Greenwich for Boiler and Machinery coverage; National Fire & Marine for Medical Liability coverage; MedPro RRG Risk Retention Group for Medical Liability coverage; and Chubb for Cyber Liability insurance for a total combined premium amount of $_______, now, therefore, be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into agreements through Arthur J. Gallagher Risk Management Services, Inc. with Safety National for Excess Commercial, General, Automobile, Law Enforcement, Public Officials, and Employment Practices coverage at an annual premium not to exceed $561,568; Arch for Excess insurance at an annual premium not to exceed $377,520; Bowhead for Excess insurance at an annual premium not to exceed $315,000; Traveler’s for Property insurance at an annual premium not to exceed $454,204 + $1,531 Fire Fee; Greenwich for Boiler and Machinery coverage at an annual premium not to exceed $56,315; National Fire & Marine for Medical Liability insurance at an annual premium not to exceed $447,259; MedProRRG Risk Retention Group for Medical Liability insurance at an annual premium not to exceed $167,267; and Chubb for Cyber Liability insurance at an annual premium not to exceed $_____ for the term commencing August 15, 2024 and ending August 15, 2025 for a total combined premium amount of $_______, and, be it further
RESOLVED, That the County Attorney is authorized to approve said agreements as to form and content, and, be it further
RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.