HomeMy WebLinkAbout2000-07-11; City Council; 15813; Renew Excess Workers Compensation BenefitsCl- OF CARLSBAD - AGE(A BILL fiJi 3
46 # 158 w3 TITLE: RENEWAL OF EXCESS WORKERS’
MTG. 7-11-00 COMPENSATION BENEFITS
DEPT. HR
RECOMMENDED ACTION:
Approval of Resolution No. &oO -2 1 qauthorizing the renewal of Excess Workers’
Compensation Insurance coverage in accordance with staffs recommendation at a premium
deposit of $25,827.
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CITY ATT; (@
CITY MGR~
ITEM EXPLANATION:
The current excess Workers’ Compensation Insurance Policy expired on June 30,200O.
Coverage has been continued pending Council action on the current proposal. This policy
provides for loss coverage which exceeds the City’s self-insured retention level.
Cal-Surance, the City’s insurance broker, has obtained a renewal quote from the City’s
incumbent carrier, Employers Reinsurance Corporation. The renewal premium is $25,827,
32% higher than last year’s premium of $19,627.
The increased premium reflects the withdrawal of several large workers’ compensation
insurance carriers. All other terms and conditions of coverage are unchanged.
FISCAL IMPACT:
The recommended renewal quotation for one year is $25,827. The City’s Self Insurance
Retention (SIR) would remain at $300,000 for each claim.
EXHIBITS:
1. Resolution No.= -d/y
2. Summary of Excess Workers’ Compensation Insurance Quotations
RESOLUTION NO. 2ooo-21g
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 review its insurance.
NOW, THEREFORE, BE IT RESOLVED by the City Council of 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
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
$25,827.
PASSED, APPROVED, AND ADOPTED at a Regular Meeting of the City
7 Council of the City of Carlsbad on the 11th day of July 2000, by the following
8 vote, to wit:
9 AYES: Council Members Lewis, Hall, Finnila, and Kulchin
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NOES: None
ABSENT: Council Me
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ATTEST:
KAREN R. KUNDTZ, Asxstant City Clerk
SEAL
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