HomeMy WebLinkAbout2006-06-20; City Council; 18608; Renewal of Excess Workers' Compensation BenefitsCITY OF CARLSBAD - AGENDA BILL
AB# 18,608
MTG. 6/20/06
DEPT. HR
RENEWAL OF EXCESS WORKERS'
COMPENSATION BENEFITS
DEPT. HEAD ^ r*-
CITY ATTY. y£^
CITY MGRr^p>
RECOMMENDED ACTION:
Approval of Resolution No. 2006-161 authorizing the renewal of Excess Workers'
Compensation Insurance coverage in accordance with staff's recommendation at a premium of
$149,025.
ITEM EXPLANATION:
The current excess Workers' Compensation Insurance Policy expires on June 30, 2006. Coverage will
be continued pending Council action on the current proposal. This policy provides for loss coverage
which exceeds the City's self-insured retention level up to $25,000,000 per occurrence.
Cal-Surance, the City's insurance broker, obtained renewal quotes from five carriers (see Exhibit 2).
The renewal quotes for annual premiums ranged from $149,025 to $205,442. Based on these quotes,
staff recommends renewing its policy with Continental Insurance Corporation. The renewal premium
is $149,025, which is lower than last year's premium of $150,586. The City's Self Insurance
Retention (SIR) will remain at $1,000,000 for each claim.
The decrease in the premium is due to recent workers' compensation reforms instituted by Senate Bill
899 that were effective in stabilizing past claims difficulties throughout the State of California.
FISCAL IMPACT:
The recommended renewal quotation for one year is $149,025. Sufficient funds have been budgeted in
the 2006/07 operating budget
ENVIRONMENTAL IMPACT:
EXHIBITS:
1.Resolution No. 2006-161 .
2. Summary of Excess Workers' Compensation Insurance Quotations
DEPARTMENT CONTACT: Debbie Porter, (760) 602-2441, dport@ci.carlsbad.ca.us
FOR CITY CLERKS USE OWL Y.
COUNCIL ACTION: APPROVED
DENIED
CONTINUED
WITHDRAWN
AMENDED
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CONTINUED TO DATE SPECIFIC D
CONTINUED TO DATE UNKNOWN D
RETURNED TO STAFF Q
OTHER - SEE MINUTES D
RESOLUTION NO. 2006-161
1
A RESOLUTION OF THE CITY COUNCIL OF THE
2 CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING
RENEWAL OF THE CITY'S EXCESS WORKERS'
3 COMPENSATION INSURANCE.
4 WHEREAS, the City has established a self-insurance program for workers'
5
compensation; and
6
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.
11 NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of
12 Carlsbad, California, as follows:
13
1. That the above recitations are true and correct.14
- f. 2. That the renewal of the City's Excess Workers' Compensation Insurance
16 coverage with Continental Insurance Corporation, with the premium in the amount of
17 $ 149,025, is hereby approved.
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PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council
of the City of Carlsbad on the 20th day of June 2006, by the following vote:
AYES: Council Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None
ABSENT: None
OJDE A LEWIS, Mayor
ATTEST:
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