Board of Directors Regular Meeting Agenda


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Meeting Date: 09/23/2015  

SUBJECT MATTER:
Receive, consider and act upon approval of the Property and Liability Insurance for the period of October 1, 2015 - October 1, 2016;
FISCAL IMPACT:
Information not yet available.
BACKGROUND:
The Township's various property and liability insurance policies will expire on October 1, 2015. The Township's insurance provider, Texas Municipal League Intergovernmental Risk Pool (TMLIRP), is in the process of preparing quotes for the renewal of the insurance policies based on the same level of deductibles as the policies currently in effect. Although staff communicated to TMLIRP that the quotes needed to be received by September 11th in order for the Board to have adequate time to review the proposals, TMLIRP was not able to meet that deadline and instead indicated that the quotes will be available on Monday, September 21st or Tuesday, September 22nd. Insurance information will be provided to the Board as soon as it becomes available. Staff has confirmed with TMLIRP that if the Board desires to make changes to the Township's insurance program (deductibles, coverage limitations, etc.) after reviewing the quotes at the September 23rd Board meeting, it may do so at the October 22nd Board meeting without a lapse in coverage. The new policies would go into effect on October 1, 2015 and any changes desired by the Board would either be retroactive back to October 1st or become effective on November 1, 2015, depending on the particular change.
RECOMMENDATION:
A recommendation will be provided at the September 23rd Board meeting.

    

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