Sarasota County Schools
Agenda Item #44
Title
APPROVAL OF THE PURCHASE OF BUILDER'S RISK INSURANCE FOR THE RIVERVIEW HIGH SCHOOL CONSTRUCTION PROJECT
Description
In order to save the construction manager's markup of approximately $27,300.00, the District can purchase the builder's risk insurance coverage for the project. This coverage would be furnished by the Zurich Company through the HRH of Southwest Florida agency. The policy will provide the coverage, except for windstorm, required in Article 5, paragraph 5.1.1 (iv) of the construction manager's contract. Windstorm coverage will be full value on all structures except the classroom and administration buildings which will be limited to a total of $25,000,000.00.
Recommendation
#44-That the purchase of builder's risk insurance coverage from the Zurich Insurance Company at a cost of $641,480.00, for the Riverview High School construction project be approved as presented.
Contact
LEMPE & COLLINS
Financial Impact
Capital: $641,480.00
Attachment: BAIenc9-4-07RHS-BldrsRiskIns.pdf