HomeMy Public PortalAbout12124 O R D I N A N C E NO. 12124 AN ORDINANCE, awarding a contract to American International
Group (AIG) Insurance Company for the District's Blocked Main Sewer Line
Backup Insurance and Overcharged Sewer Line Backup Insurance coverage from
November 16, 2005 to July 1, 2007.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. American International Group (AIG) Insurance Company,
who submitted a combined quote for the District's Blocked Main Sewer Line Backup
Insurance and Overcharged Sewer Line Backup Insurance coverage, with an
aggregate retention of Four Million Eight Hundred Seventy Five Thousand Dollars
($4,875,000.00) for the time period November 16, 2005 through July 1, 2007, each
for overcharged sewer lines and blocked mains; an aggregate policy limit of Sixteen
Million Two Hundred Fifty Thousand Dollars ($16,250,000.00) in excess of claims;
and the District's Overcharged Sewer Line Backup Insurance coverage with the
same policy aggregate and limit as hereinabove stated, and a per claim limit of Two
Thousand Five Hundred Dollars ($2,500.00) with a One Hundred Dollars ($100.00)
deductible per claim; at a combined premium of One Million One Hundred Thirty-
seven Thousand Five Hundred Dollars ($1,137,500.00) for such policy period is
hereby awarded the contract for such insurance coverage from November 16, 2005
to July 1, 2007.
The foregoing Ordinance was adopted November 10, 2005.