Title: REPLACEMENT ITEM - RENEWAL OF LEGAL LIABILITY INSURANCE (ERRORS AND OMISSIONS)

Requested Action:

THAT THE DUVAL COUNTY SCHOOL BOARD RENEW A CONTRACT FOR ERRORS AND OMISSIONS INSURANCE FOR LEGAL LIABILITY WITH NATIONAL UNION FIRE INSURANCE COMPANY, REPRESENTED BY CECIL W. POWELL AND COMPANY OF JACKSONVILLE.  THE RENEWAL RATE FOR THE CONTRACT PERIOD OCTOBER 1, 2002, THROUGH SEPTEMBER 30, 2003, IS $166,857.

Summary Explanation and Background:

National Union Fire Insurance Company has provided this coverage since 1986.  This policy insures the Board for claims it becomes legally liable to pay due to a wrongful act; a wrongful act by policy definition is any actual or alleged breach of duty, neglect, error, misstatement or omission by an insured solely in the performance of duties for the School Entity.

Limit of

Liability         Deductible   AnnualPremium

$1,000,000               $100,000        $166,857

The above limit of liability deductible is on a per occurrence basis.  Funds are available in the operating budget.

New Century Commission Recommendation/OPPAGA Recommendation/Council of Great City Schools Recommendation:
N/A

Financial Impact:
$166,857

For Additional Information, contact:

John Radcliffe, Gen. Dir.

General Services

390-2258