HomeMy WebLinkAbout2014-06-24; City Council; 21647; Renewal of Liability Insurance Coverage Alliant Insurance Services Inc's California Municipal Excess Liability (Camel) Program21.647 AB#
MTG. 6/24/14
DEPT. ASD/RISK
CITY OF CARLSBAD - AGENDA BILL
RENEWAL OF LIABILITY INSURANCE COVERAGE
THROUGH ALLIANT INSURANCE SERVICES
INC'S CALIFORNIA MUNICIPAL EXCESS
LIABILITY (CAMEL) PROGRAM
DEPT. DIREaOR
CITY ATTORNEY
CITY MANAGER 1^
RECOMMENDED ACTION:
Approval of Resolution No. 2014-147 . approving the purchase of liability insurance through Alliant
Insurance Services, Inc.'s California Municipal Excess Liability (CAMEL) Program.
ITEM EXPLANATION:
The City participates in the Alliant Insurance Services, Inc. joint purchase program known as CAMEL
(California Municipal Excess Liability) for liability coverage or ANML (Alliant National Municipal Liability)
depending on the group of Cities marketed for liability coverage.
Alliant negotiated a renewal of coverage for the City for 2014-15 policy year with Security National
Insurance Company. A summary of coverage is shown in Exhibit 2 and the coverage is similar to that of
the current policy. The premium is $381,675.84 to continue $10,000,000 of coverage and requires a
self-insured retention (SIR) of $1,000,000 with an additional $500,000 Corridor Aggregate Retention.
(This represents a 4 percent increase over last year's premium).
Alliant also negotiated another layer of excess coverage of $10,000,000 over and above $10,000,000 for
an additional $116,000, an increase of $37,500 over last year's premium to increase coverage from
$5,000,000 to $10,000,000. This will bring total excess coverage limits to $20,000,000. The coverage
summary is shown in Exhibit 3. The additional insurance is being purchased to better protect the City in
the event of a very high exposure loss. (This represents a 48 percent increase over last year's premium).
Staff recommends purchasing liability insurance at a cost not to exceed $497,675.84.
FISCAL IMPACT:
This represents a $14,679.84 (approximately 4 percent) increase over last year's liability premium for
the first $10,000,000 in coverage. The additional $37,500 increase (approximately 48 percent) in excess
coverage represents the purchase of an additional $5,000,000 in liability protection, bringing a total of
$20,000,000 in liability excess coverage.
DEPARTMENT CONTACT: Ed Garbo, (760) 602-2470, ed.garbo@carlsbadca.gov
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC •
DENIED • CONTINUED TO DATE UNKNOWN •
CONTINUED • RETURNED TO STAFF •
WITHDRAWN • OTHER-SEE MINUTES •
AMENDED •
Page 2
ENVIRONMENTAL IMPACT:
This action is not a "project" within the definition ofthe California Environmental Quality Act in that it
does not have a direct or indirect impact on the physical environment under California Code of
Regulations, Title 14, Chapter 3, section 15378.
EXHIBITS:
1. Resolution No 2014-147
2. Insurance Proposal
3. Optional Excess Liability
EXHIBIT 1
1 RESOLUTION NO. 2014-147
2 „
A RESOLUTION QF THE CITY COUNCIL QF THE CITY QF CARLSBAD,
^ CALIFORNIA, APPROVING THE PURCHASE QF LIABILITY
4 INSURANCE THROUGH ALLIANT SERVICES INC.'S CALIFORNIA
MUNICIPAL EXCESS LIABILITY (CAMEL) PROGRAM
5 "
^ WHEREAS, the City desires to renew its liability insurance through Alliant Insurance
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Services, Inc.'s California Municipal Excess Liability (CAMEL) Program; and
WHEREAS, Alliant Insurance Services has negotiated a renewal of liability coverage from
July 1, 2014 to June 30, 2015 for a premium of $ 461,675.84; and
11 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
12 California, as follows that:
1. The above recitations are true and correct.
2. That the purchase of liability coverage through the California Municipal Excess
Liability program, effective July 1, 2014 to June 30, 2015, is hereby approved and the
Administrative Services Director is authorized to issue a warrant in the amount of
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18 $461,675.84 forthe payment ofthe premium to Alliant Insurance Services, Inc
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PASSED, APPROVED AND ADOPTED at a Regular Meeting ofthe City Council ofthe City
of Carlsbad on the 24th day of June 2014, by the following vote to wit:
AYES:
NOES:
ABSENT:
Council Members Hall, Packard, Wood, Schumacher, Blackburn.
None.
None.
ATTEST:
.,ftA[^BARA ENGLESON, Crty Clerk
:0:'
EXHIBIT 2
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I
INSURANCE COIVIPANY
*A.M. BEST'S GUIDE RATING:
(VERIFIED MAY2014)
OPTIONAL EXCESS LIABILITY
INSURANCE PROPOSAL
JULY 1, 2014 TO JULY 1, 2015
CITY OF CARLSBAD
PRESENT
STARR INDEMNITY & LIAB. COl
A, Excellent; Financial Size Category XIV;
$1,500,000,000 to $2,000,000,000
*STANDARD AND POOR'S RATING: Not Rated
(VERIFIED MA Y 2014)
Alliant
EXHIBITS
PROPOSED
STARR INDEMNITY & LIAB. CO.
A, Excellent; Financial Size Category XIV;
$ 1 ,-500,000,000 to $2,000,000,000
Not Rated
CALIFORNIA STATUS:
POLICY TERM:
COVERAGE:
UNDERLYING LIMIT:
TERMS CONDITIONS AND
EXCLUSIONS (Including but not
limited to):
Admitted
July 1,2013 to July 1,2014
Following Form Excess Liability - except to
extent the terms, conditions and exclusions
differ from underlying insurance
See specific policy for complete terms,
conditions and exclusions.
$ 5,000,000 Any One Occurrence and
Aggregate as respects
Completed Operations Excess
of Underlying Limit
$ 10,000,000
$ 10,000,000
Any One Occurrence
Annual Aggregate applies
separately for Completed
Operations
Per Security National's ANML policy
including but not limited to:
• Asbestos Exclusion
• Nuclear Energy Exclusion
• Financial Institutions
• Uninsured Motorists/Under Insured
Motorist
• War
Admitted
July I, 2014 to July I, 2015
Following Form Excess Liability - except to
extent the terms, conditions and exclusions
differ from underlying insurance
See specific policy for complete terms,
conditions and exclusions.
$ 5,000,000 Any One Occurrence and
Aggregate as respects
Completed Operations Excess
of Underlying Limit
$ 10,000,000 Any One Occurrence
$ 10,000,000 Annual Aggregate applies
separately for Completed
Operations
Per Security National's ANML policy
including but not limited to:
• Asbestos Exclusion
• Nuclear Energy Exclusion
• Financial Institutions
• Uninsured Motorists/Under Insured
Motorist
• War
• TRIA can be purchased for an
additional fee
ANNUAL PREMIUM: 378,500 TRIA was not purchased
OPIION 1
$ 80,000
TRIA can be purchased for an additional fee
of $ 1,600 (Total including TRIA $81,600)
OPTION 2 ($10,000,000 Exc ESS $10,000,000)
$116,000 (With 2,320 TRIA Total=$l 18,320)
OPTION 3 ($15,000,000 EXCESS $10,000,000)
$136,000 (With 2,720 TRIA Total=$l38,720)
*See last page for additional detail
Page I
Alliant In.suranct Services. Inc. • I ini Duw Mrcci. Sirw
Pluiiic 04^i-75()-(l27| . I a\ M-4^'-75(I-2^ !• \s \\ .liii.uiinisi
'Alliant
OPTIONAL EXCESS LIABILITY
INSURANCE PROPOSAL
JULY 1, 2014 TO JULY 1, 2015
CITY OF CARLSBAD
INSURANCE COMPANY: .|M|^Mp PRESENT lP|P|ipiPmMm; PROPOSED >„„w™.
^^ie^i^mmA^K - --STARRlNDEMNITY & LIAB. CO. STARR INDEMNITY & LIAB. CO.
SUBJECTIVITY: . signed TRIA Rejection Form
• No flat cancellation 25% minimum earned
BROKER: Ai.i iANT INSURANCE SERVICES, INC.
NEWPORT BEA( H, CALIFORNIA
Gordon DesCombes Rennetta Poncy Courtney Ramirez
Senior Vice President First Vice Presidem Assistant Vice President
THIS PROPOSAL IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ALTER THE POLICY IN ANY WA Y.
PLEASE REFER TO THE POLICY FORM FOR COMPLETE COVERAGE, TERMS & CONDITIONS AND EXCLUSIONS
DISCLOSURES
L^f'"7'''','" "f'-^''-'"''-'"''' "«/.v. .Ml informathm included in this pmprmd. including
^xneZ^ l^h ZTr' r T '"-"P^-'y/^'f^'^'^-operaiir... producfs. daU, auUnnohile schedules. finJnciai dafa and lots
experreuce. s based on tacts and repre.senialmns .supplied to .\Uiant Insumnee Services. Inc. vou. This proposal does not reflect anv
independent .study or wve.sn-ialion In•. tlliant ln.suranee Services. Inc. or its agents and employees' ' ' '
Ilease he advised that this proposal is also expr-e.s.slv condiiioned on there being no male,-ial change in ihe risk belM-een the date of this
'o TdaruulZ ZtTr T f f P'--r^}^ P">'^y f"^ oeaurence of any claim or noiice of circumsfances that u^^iv "
Z- I sit • ! n ''""^P'-"r"'i " "/•^•"'•"'"/ replaccuentl In ihe event of such change r>f ri.sk. iht in.surer
nuiy. at its sole disc i elion. modify, or wnhdrau- this proposal whether or no! this offer has a/ready been accepted
I his proposal is not confirmation of insurance and does not add to. extend amend change, or alter any coverage in any actual policy of
insurance you may have. . W existing policy terms, conditions, exclusions, and limitations apply. For .specifie i^rmation regtdZy(^r
insurance coverage, please refer to the prdiey itself. .Illiant fn.surance Services. Ine will no, he liable foi anl claims ari.sing foTorfelad
to injormation included in or omiited from this propo.sal of insurance onu, ,ciu,tu
/!/^n;!<^^!nv^."''^''"- """V';"-''"':'' " '-''V'^'.' loiis compen.sanonjrom insurance transactions Details on our compen.sation policy,
induding the t^pes of income Una ilhaiu may earn on a placement are available on our Keh.sile at wu'w.alliantin.surance.c/m, f-or a copy of
TJ ,1 '"' Z ""/""•'''" eompensalion issues periaining to your acermnt vim may als^conlac, us al: .Illiant Insurance
Services. Inc.. Altenlion: (,eneral ( oun.sel. Ol B .Street 6ih Floor .San Diego C I TIOI
'ofail'!Zici^'l^iZZ^^^^^ ''''''^'''''J'''' '"•".'^-'"^ " '•'-'/""''••^ .specialized.skills and in-dep,h iechnical understanding ^^f ,r eompany Jmances and operations, fn.surance brokerages .such as . illiant fn.surance typically rely upon ratiiv'
agencies M llus lype of markel analysis, lolh . i\f ficst and Slandard and f\>or's have been industry leaders in ihis area for ma y dJedes
<>.t'n"",n,al,vc and qualilative analysis of,he information available in formulalino their ratings
.IM lie.sl has an extensive database of nearfy 6.000 Life Health, f'roperty Ca.smiltv and international companiJ: You can visit them at
SS^SSiinv.ci ^ ratings visit Standard and f'rJs tllllll^ at
Our goaf is to procure insurance for you with undenvrilers po.s.sessing llie financial strength lo perform .illiant does nol fiowever
guarantee the sofvency of any undenvrilers with which insurance or reinsurance is placed and maintains no respon ibdUy fTaT^^^^^^^
fnu Jrf7"'^ tr /'"""""^Z"'/'"-^' or insolvency of any insurer. We encourage you to review the publicly aval able nfi motion
bi slZl f "' "'f'l "-^'"'""^ "''"P' °'' " undenvriler. To learn more about c^ /,
hiisine.ss in your .slate, visit the Deparimeni of Insurance website for that state. ' ^
NYREGULATIOS' 194 DISCLOSURE
H'iT {"'"''''f '' '-v an i,i.surance producer licensed by the State of New York, fn.surance producers are authori-ed by their
licen. e to confer with insurance purchasers about die benefits, terms and conditions of insurance contracts: to offer adv ce Z net^^^^^
substantive benefits of particular in.surance conti-aet.s: to .ve// in.surance: and to obtain insurance for purcha.sers The ,0/1/^//™^"^,,'
any particular iransaclion typically involves one or more of these activities ojinepioaucu m
Compensation wiU be paid to the producer, ba.sed on the in.surance contract the producer .sells. Depending on the insurer(s) and insurance
con,ract(s) the purchaser selects, compensation will he paid hy the in.surer(.s) .selling tfie in.surance contrac t or hy ^n Z iw^^^^^
compensation may vary depending on a number of factors, including the insurance contract(.s) and the in.surerfs) the purZ^Zkcts fn
some ca.se.s, other fictors such as ihe volume of business a producer provides to an insurer or the profilah lity ofiZ,^7e ^n act l
producer provides to an insurer also may affect compensation oniuuiui} oj in.suiancL conn acts a
The in.surance purctmser may obtain infarmation about compen.sation expected to be received hy ihe producer based in whofe or in part on
the sale of insurance to the purchaser, and (if applicable) compensation expected to be received based in whole or in paTc^naZ c"lt!rnaZ
quotes presented to the purchaser by tfie producer, by recpie.sting such information from the producer ^ cnternatn c
Page 2
ini iiiMiraiwv^crviccs. Inc, • I'^OI Oovc Sirccl. Suite 200 • Newport Bc.ich. CA 'OOhi'i
„ic v4"-?.-'<.-():7| • i yx *M^>-75<i-27!.'? • www.allianiinsurance.com • License N'o. tK'.16861
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