HomeMy WebLinkAbout033908 RES - 04/28/2026Resolution authorizing renewal of property insurance, including All
Other Perils, Flood, Named Storm, Wind/Hail, Earth Movement, and
Equipment Breakdown insurance, through Acrisure South Insurance
Services LLC, Broker of Record, for the upcoming policy year (May 4,
2026 — May 4, 2027) in exchange for a total annual premium of
$3,017,667.89.
WHEREAS, the City utilizes its broker of record to obtain property insurance
including All Other Perils, Flood, Named Storm, Wind/Hail, Earthquake, and Equipment
Breakdown insurance for protection of the public health or safety of the municipality's
residents;
WHEREAS, the current coverages are subject to renew as of May 4, 2026;
WHEREAS, State law provides that such procurements, as outlined above, are
subject to statutory procurement requirements, including competitive bids, unless an
exception applies;
WHEREAS, the City Council finds that this procurement of property insurance
qualifies as an exception to competitive bidding under Texas Local Government Code,
Section 252.022(a)(2), as this procurement is necessary to preserve or protect the public
health or safety of the municipality's residents; and
WHEREAS, the City Council also finds that this procurement is authorized
pursuant to Texas Local Government Code Section 252.024, which authorizes a sole
broker of record to procure necessary coverages for insurance.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, THAT:
Section 1. The City Council specifically finds that the foregoing statements included in
the preamble of this resolution are true and correct and adopts such findings for all intents
and purposes related to the authorization of this procurement.
Section 2. The City Manager, or designee, is authorized to execute all documents
necessary to renew property insurance, including All Risk, Flood, Named Storm,
Wind/Hail, Earthquake, and Equipment Breakdown insurance, through City's Broker of
Record Acrisure South Insurance Services LLC, for upcoming policy year (May 4, 2026,
through May 4, 2027) in exchange for annual premium in the amount of $3,017,667.89.
VASSE and APPR D on the Vhday of AQ(' 1
ATTEST:
, 2026.
Paulette Guajardo, May br l Rebecca Huerta,'City Secretary
033908
SCANNED
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Finance & Procurement of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money required
for the current fiscal year's portion of the contract, agreement, obligation or expenditure described
below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has
not been appropriated for any other purpose. Future payments are subject to annual appropriation
by the City Council.
City Council Action Date:
Agenda Item:
April 28, 2026 Legistar Number: 26-0458
Resolution authorizing renewal of property insurance, including All Risk, Flood, Named Storm,
Wind/Hail, Earthquake, and Equipment Breakdown insurance, through Carlisle Insurance
Agency, Broker of Record, for upcoming policy year (May 4, 2026 — May 4, 2027) in exchange for
annual premium of $3,017,667.89.
Amount Required: $ 1.231.870.00
Fund Name
Accounting Unit
Account No.
Amount
Business Job Dev Fund
1030-13826-034
537090
$ 9,334.00
Business Job Dev Fund
1030-13826-034
537095
$ 32,357.00
Business Job Dev Fund
1030-13826-034
537420
$ 20,534.00
Liab/EB Liab Fund
5611-40520-054
537090
$ 148,159.00
Liab/EB Liab Fund
5611-40520-054
537095
$ 513,618.00
Liab/EB Liab Fund
5611-40520-054
537420
$ 325,949.00
Visitor Facility Fund
4710-13626-034
537090
$ 27,288.00
Visitor Facility Fund
4710-13626-034
537095
$ 94,598.00
Visitor Facility Fund
4710-13626-034
537420
$ 60,033.00
Total
$ 1,231,870.00
❑ Certification Not Required
1-x--------
Director of Finance & Procurement
Date: 14 ' ZA'. rl G