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Board approves landfill contract amendment allowing surplus-lines insurers if licensed coverage unavailable
Summary
The board approved an amendment to the landfill contract to permit Oklahoma-authorized surplus-lines insurers to satisfy required coverage when licensed insurers do not offer the needed policy, with the condition that insurers meet an AM Best rating of "Excellent." The amendment passed after a brief explanation by the contractor’s attorney.
The board voted to amend the city’s landfill contract to expand which insurers can satisfy the contract’s insurance requirements when licensed insurers do not offer a needed policy.
An attorney for the contractor, identified as Mister Boyd, told the board the existing contract requires insurance from companies licensed in the state but certain…
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