City of Racine - File #: 14-10073

• File #: 14-10073
• Version: A
• Name: Communication from the Transit and Parking System Manager submitting for review a proposal to reduce physical damage catastrophic insurance coverage of 80% of acquisition cost for new fleet. Physical damage insurance coverage for BUS vehicles in excess o
• Type: Communication
• Status: Passed
• File created: 4/23/2014
• In control: Transit and Parking Commission
• Final action: 5/6/2014
• Title: Subject: Communication from the Transit and Parking System Manager submitting for review a proposal to reduce BUS physical damage catastrophic insurance coverage to 80% of acquisition cost for new fleet. (Res. No. 14-0196) Recommendation: The physical damage insurance coverage on Belle Urban System vehicles be set at 80% of purchase price effective January 1, 2015. Fiscal Notes: This is expected to reduce annual insurance costs by $10,000 to $15,000.
• Related files: Res.14-0196

Date	Ver.	Action By	Action	Result
5/6/2014	A	Common Council	Approved as Presented	Pass
4/30/2014	A	Transit and Parking Commission	Recommended For Approval

Title

Subject: Communication from the Transit and Parking System Manager submitting for review a proposal to reduce BUS physical damage catastrophic insurance coverage to 80% of acquisition cost for new fleet. (Res. No. 14-0196)

Recommendation:  The physical damage insurance coverage on Belle Urban System vehicles be set at 80% of purchase price effective January 1, 2015.

Fiscal Notes:  This is expected to reduce annual insurance costs by $10,000 to $15,000.