HomeMy WebLinkAbout2012-06-26; City Council; Resolution 2012-1501 RESOLUTION NO. 2012-150
2 A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING
3 RENEWAL OF THE CITY'S EXCESS WORKERS'
COMPENSATION INSURANCE.
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WHEREAS, the City has established a self-insurance program for workers'
6 compensafion; and
7 WHEREAS, the City's Insurance Broker has received a renewal quotation for
^ Excess Workers' Compensafion Insurance coverage; and
^ WHEREAS, upon evaluation of this quotation for excess insurance, the City
desires to renew its insurance; and
WHEREAS, the proposed Workers' Compensation Fund Operating Budget to be
adopted for FY 2012-13 does not contain sufficient appropriation to cover the cost of the
renewal;
WHEREAS, the Workers' Compensation Fund has sufficient cash reserves to
16 fund an addifional appropriation,
17 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
18 Carlsbad, California, as follows:
1. That the above recitations are true and correct.
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2. That the renewal of the City's Excess Workers' Compensation Insurance
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coverage with Safety National Casualty Corporation, with the premium in the
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amount of $145,822, is hereby approved.
24 3. That an addifional appropriafion of $16,000 is approved for the Workers'
25 Compensation FY 2012-13 Operafing Budget.
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PASSED, APPROVED AND ADOPTED at a Regular Meefing of the City Council
of the City of Carlsbad on the 26*^ day of June, 2012, by the foiiowing vote to wit:
AYES:
NOES:
Council Members Hall, Kulchin, Blackburn, Douglas and Packard.
None.
ABSENT: None.
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LORRAINE M. WOOD, City Clerk
(SEAL)