Consider approval of Resolution No. 09-081 for payment of windstorm insurance premium to Texas Municipal League Intergovernmental Risk Pool. (Finance)

The City's windstorm coverage is through Victor O. Schinnerer & Company, Inc.  Since the city is located in the first tier of counties that border the Texas Gulf Coast, windstorm coverage is not available through Texas Municipal League Intergovernmental Risk Pool to the extent that it is available through either the Texas Windstorm Insurance Association (TWIA) or other windstorm carriers.  Victor O. Schinnerer & Company, Inc. serves as the property unerwriting contractor for the Pool.  As part of the City's agreement with the Pool, they are available to serve as the City's insurance agent in placing windstorm coverage with the TWIA and/or another carrier.  The cost for renewal for the period August 2, 2009-August 1, 2010 is $385,701.00, which is an increase of $33,223.00 over last year's renewal of $352,478.00.  The City coverage includes a total value of $71,653,245.00, 80% coinsurance, replacement cost, with a 2% per item deductible.