Title
91 Express Lanes Property Insurance Renewal
Overview
The Orange County Transportation Authority currently has a primary property and flood insurance policy for the 91 Express Lanes with Zurich American Insurance Company, and six earthquake insurance policies with Everest Indemnity Insurance Company, General Security Indemnity Company of Arizona, Old Republic Union Insurance Company, QBE Specialty Insurance Company, Steadfast Insurance Company, and Princeton Excess and Surplus Lines Insurance Company, all of which will expire on March 1, 2021. Renewal of these policies is necessary to maintain coverage.
Recommendation(s)
Authorize the Chief Executive Officer to negotiate and execute Purchase Order No. A46898, in the amount of $460,332 to Marsh USA, Inc., to purchase the 91 Express Lanes property, flood, and earthquake insurance on behalf of the Orange County Transportation Authority for the policy period of March 1, 2021 to March 1, 2022.