HomeMy WebLinkAboutOCSD 98-29RESOLUTION NO.OCSD 98-29
ADOPTING COURSE OF CONSTRUCTION MASTER
INSURANCE PROGRAM FOR FUTURE CONSTRUCTION
PROJECTS
A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE
COUNTY SANITATION DISTRICT,ADOPTING A COURSE OF
CONSTRUCTION MASTER INSURANCE PROGRAM FOR
FUTURE CONSTRUCTION PROJECTS
WHEREAS,the District regularly awards significant construction contracts,the
terms and conditions of which require that the project,while in the course of
construction,be insured against risk of failure or destruction;and,
WHEREAS,insurance coverage to reimburse for any loss of the project during
the course of construction is commonly known as “builder’s all-risk”insurance,or
“course of construction”insurance;and,
WHEREAS,the traditional practice has been for the construction contractors to
acquire and pay the premiums for such course of construction insurance;and,
WHEREAS,the District,on the advice and based upon the evaluation and
recommendation of its insurance consultant,has previously recommended that the
District acquire a master program of course of construction insurance,which provides a
normal “all-risk”property insurance on all of the facilities under construction,until the
project is completed and accepted;and,
WHEREAS,a master program of course of construction insurance issued
directly to the District,will enable the District to control coverage,achieve consistency
of coverage,and realize insurance cost savings on construction projects.
NOW,THEREFORE,the Board of Directors of Orange County Sanitation
District,
DOES HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That the Staff and the District’s insurance broker-of-record
implement the master course of construction program and obtain policies on a recurring
basis,to be made available to the District,at the District’s option,and provide the
coverage on particular construction projects.
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Section 2 It is the policy of the District to utilize its master program of course
of construction insurance in those cases where the insurance coverage obtainable
under the master program to the District realizes cost savings to the District,together
with increased control over the coverage and consistency of coverage.
PASSED AND ADOPTED at a Special Meeting held July 1,1998.
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Chair Cl
ATTEST:
Board Secr6kary
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