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South Bay Digest

Torrance : Insurance Policies OKd

July 02, 1987

The City Council approved insurance policies for additional workers compensation and for fire and property losses.

The city renewed its policy with General Reinsurance Co. for up to $5 million of additional workers compensation coverage. The annual premium will be $83,000, with a $500,000 deductible. The previous premium was $32,000.

Zurich Insurance Co. will provide fire and property coverage on city-owned buildings and personal property for an annual premium of $49,685, with deductibles of $50,000 for all losses except $10,000 for electronic data processing, $1,000 for traffic signal losses and $100 for valuable papers.

Kathy Keane, assistant to the city manager, said the city will save about $20,000 over last year's premium payment by switching to Zurich from Fireman's Fund Insurance Co.

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