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HomeMy WebLinkAbout1996-07-09; City Council; 13725; RENEWAL OF EXCESS WORKERS' COMPENSATION INSURANCEOF CARLSBAD - AG RENEWAL, OF EXCESS WORKERS' COMPENSATION INSURANCE c&-p-ifi Approval of Resolution No. 1 authorizing the renewal of Excess Workers' Compensation Insurance coverage in accordance with staffs recommendation at a premium deposit of $27,303. ITEM EXPLANATION The current Excess Workers' Compensation Insurance Policy expired on June 30, 1996. Coverage has been continued pendmg Council action on the current proposal. This policy provides for loss coverage which exceeds the City's self-insured retention level. CalSurance, the City's insurance broker, has obtained a renewal quote from the City's incumbent carrier, Employers Reinsurance Corporation. The renewal premium is $27,303, more than 16% less than last year's premiUm of $32,737. The reduced premium reflects increased competition among workers' compensation insurance carriers. All other terms and conditions of coverage are unchanged. FISCAL IMPACT The recommended renewal quotation is $27,303. The City's SIR would remain at $300,000 for each Q hb4. E 3 z 0 6 g a z 3 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 . 15 16 17 18 19 20 21 22 23 24 25 26 27 28 eo e. RESOLUTION NO. 9 6 - 2 4 0 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING RENEWAL OF THE CITY'S EXCESS WORKERS' COMPENSATION INSURANCE WHEREAS, the City has established a self-insurance program for workers' compensation; and WHEREAS, the City's Insurance Broker has received a renewal quotation for Excess Workers' Compensation Insurance coverage; and WHEREAS, upon evaluation of this quotation for excess insurance, the City desires to renew its insurance. NOW, THEREFORE, BE IT RESOLVED by the City Council of Carlsbad, California, as follows: 1. 2. That the above recitations are true and correct. That the renewal of the City's Excess Workers' Compensation Insurance coverage with Employers Reinsurance is hereby approved and the Finance Director is authorized to issue a warrant for the deposit premium of said renewal in the amount of $27,303. ' J I I I I I I I I, i 2 3 4 5 6 7 a 9 lo 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 e. 0. PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of Carlsbad on the 9th day of JULY 1996, by the following vote, to wit: AYES: Council Members Lewis, Nygaard, Kulchin, Finnila, Hall NOES: None ABSENT: None ATTEST: ALETHAL.RA z s n Sk gE; q? LEU 085 P 0 4 i= rnk* cl4d Whk *%A bd* WWd Wgs E- Q 4wo cn cn 8 x w r ,5, rh =g= .2 E .? 0 e ='..E 222 9 ,= g .t: -. N f?2 p -?E? 3 .5 J .5 r .$ r c T+ $2 TJ E% 30 8 e& 2 "C z- e;'.. '.. w 33 E+.% 30 88 8 0 (...I 3 sg:2 g E 23 +ti 3 $3 42 8s * e3 iTffiT - .ra.5 *E=- = 3w 0 m 0 5 .? b" .? $3 -Gg 6 2 0 0 zcmc ws n 02:s # s;sT t *E -2 Q 4 ;. r! $2 20. e3 N 8; 55 &I3 $2 5%; U 2 2:$ 2 .E g .w =2 s AT" ci R3 U a, Vd Lo c 72," yg p $:$ 0: Ka sz l? 2 GS >: 9s 0 2 zi xi: 3q 8 0 0 52 T.2 .gg (...I Lo r; x; ;=o - fi G3 7 23; e&! 3- G c- =&z sz 2 .;28 .- Es 0 2 ErN 2: L.22 L.5 E u oj .z- c T4z -5: 3 $ 4gg -25: v CY 3 Si7L E&- 0 52 :$ 88 0 T: & .Gio 3 .-5 E" 2 CL -2 Fg& EO 5 $gF i'c g! 04 n Y ?x2 =x y.2 .- rr, 2 g $82 .. cis .. .z E Lo. i 2 z. 2 2 2Loc r .4i is b 22 %2 %S -8 8 0 02 %?'X s -22 :E 'Z8 E c ;;!" ?; > =E5 * 5 - LT =E v- v1 Oak 3' $ y* =: c.. :9ffical ,mLc- 2&.E 0 rr, ZLE.25 E.? z-2 .$- 8 In In m 2- ?g;$T *E Lo1 3% -Q CY. e. rr, T€w*Y gk o.;Np.~~~ 3- 8e~;p~o 0 0 0'" 0- 3 0 4 Ub3e3U m3w .e 0 cc, N s3 30 8 we3 0, 4 c .- n u; -0, 0 0 rc s ? *d U &,x, h m Lo, e4 I - .- 4 .. w fF? rh ir Aq=: olq 2 - '25 'E ffi =';;Lo. H U u 3m 0 cc, 2 3 c3 -G (...I 0, C h 0 TY 3 +-zg 6"E; U e. ? TY ffir r; e- e3 lh ffi .;2- In3 % rr: 0 & g.52 E.5 a, U 0 co ' alga ci3 00 N u -4 >% 00 8 E EE xi: 30 2 a, 93. 8 3 2 13 *G << 93. 64 rc, e3 c cc 2 5301 33 rmVl 0- +a e3 - r.23: -f;= .- - 1% 3w 0 m 3 2 e3 5-5 42 ;=: (u 23 >3 sm 3 zw w5 xz zg 0 we $5 3..r E.; <: ;=a 0% * 8 e -m Lo 2 e % 0 U .1E w zc ri N c e. f33 .- 5* a WFr: v h? 3 x? .E .U GT 2 CL 0 w .UT$ 'c-c Wd 0 b 8 L I x- & Eq,GzgwZ c 74 64 0 WY; 25 2% b g2q $z=&>Oz r( L3 s? &;j E 2 .. 25 wir 3bz w .. g 22 m E2 kO wc?: Egs 4 5 U $ & 44 -w* .. c3 b* ZkW m Wk &k Eak F: E 0 0 E cl r r.j 4 r;t .. 2 ILl W 9 2 ; + 0 cy