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Renewal of Excess Liability, Automobile Physical Damage, and Cyber Insurance [2026-2027]
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DESCRIPTION: Renewal of Excess Liability, Automobile Physical Damage, and Cyber Insurance for Policy Period 2026-2027. |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
recommendation
Authorize the Interim Chief Executive Officer to approve the renewal of specified insurance coverages for the policy period 8/1/26-7/31/27.
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ISSUE/BACKGROUND:
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RTA annually renews its Excess Automobile Liability/General Liability [“Excess AL/GL”], Automobile Physical Damage [“APD”], and Cyber insurance coverages on August 1st.The policies are marketed and placed by the RTA insurance broker of record, Relation Insurance Services, Inc. and provide optimal coverage at the most competitive cost.
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DISCUSSION:
It is necessary that RTA proceed with the renewal of the Excess AL/GL, APD and Cyber insurance coverages through the RTA broker of record, Relation Insurance Services, Inc., on a timely basis. Historically, renewals for Excess AL/GL, APD and Cyber insurance coverages are presented to the RTA Board of Commissioners at its July board meeting. Because the RTA Board of Commissioners is not scheduled to convene in July 2026, staff seeks authorization to allow the Chair to approve the 2026-2027 renewals to avoid lapses in coverages.
For informational purposes only, the below chart summarizes the 2025 - 2026 insurance types and coverages:
FINANCIAL IMPACT:
TBD
Funds for these contracts and related endorsements are available from the RTA Operational budget:
Excess Automobile /General Liability: 01-8300-02-9131-169-00-00-00000-00000
Automobile Physical Damage: 01-8300-02-9132-169-00-00-00000-00000
Cyber Liability 01-8300-02-9181-169-89-00-00000-00000
NEXT STEPS:
Proceed with the renewal of insurance coverages as indicated above.
ATTACHMENTS:
Resolution for Renewal of Excess Liability, Automobile Physical Damage, and Cyber Insurance Coverages for Policy Year August 1, 2026 to July 31, 2027
Prepared By: Tracy Tyler
Title: Chief Legal Officer
Reviewed By: Gizelle Banks
Title: Chief Financial Officer
Click or tap to enter a date.
Ronald G. Baptiste Date
Interim Chief Executive Officer