CC PACKET 04131982 - Laserfiche WebLink

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(E) Policy Form A copy of the policy form and endorsements to be used for the combination of insurance and .for the alternates must be submitted with the bid proposal . (F) Reports Any reports required of the City must be clearly stated. The City requires as part of the bid proposal that each insured risk company provide the City with quarterly and annual reports on loss experience compared to premium rates , including any reserve amounts being held to cover claims outstanding. Said reports will be filed with the City Manager' s Office no later than 45 days after the end of quarterly periods. Notice of individual settle- ments shall be forwarded to the City Manager' s Office immediately on all liability claims. (G) Cancellation All policies will contain provisions for a minimum period of 60 days before . cancellation or. nonrenewal by the insurance company. (H) Notice of Loss Each policy shall provide that the loss reporting clauses be expanded to require reporting of claims as soon as practical after the loss or possible • claim has been brought to the attention of the City Manager. All loss payments should be adjustable with and payable to the City of St. Anthony. ( 1 ) Premium Payments It is desired that premiums be paid on the most advantageous basis , pre- ferably monthly, and that other available payment plans be indicated. (J) Withdrawal of Bids Bids may be withdrawn at any time prior to the date upon which bids are to be opened upon written or telegraphic request of the bidder. Negligence on the part of the bidder in preparing their bid shall not constitute a right to withdraw the bid subsequent to the bid opening. (K) Proposals must be submitted on the official proposal forms included along with the specific3':ions. The proposal must be contained in a sealed envelope with "Bid on Insurance" marked on the outside. Proposals are due by 10:00 A.M. , May 10, 1982, at the City Manager' s Office. Proposals should be net of any dividend. Any dividend should be explained and guaranteed. (L) All policies are to become effective at 12 :01 A.M. , June 1 , 1982. (M) The policy period will be for one year from June 1 , 1982 through May 31 , 1983. Provision should be made to allow renewal for additional periods • of time.