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HomeMy WebLinkAbout17, Insurance Renewal ACTION ITEM #17Workers’ Compensation InsuranceContract for Property, Liability and Consideration of the Award of a Workers’ Compensation InsuranceContract for Property, Liability and Consideration of the Award of a May 4, 2016 Property, Liability and Workers’ Compensation year relationship-to be the District’s insurance broker for a threeInsurance Services InterWestIn February 2015, the Board approved •insurance coverage ends June 1, 2016The District’s annual property, liability and workers’ compensation •BACKGROUND / HISTORY Insurance RenewalProperty, Liability and Workers’ Compensation Insurance Renewal NEW INFORMATION associated with the businessSeveral insurance companies declined to bid due to the risk •complete letter and applications for the bid packageto InterWestTony Pozas of District worked with Matt Bauer and •Property, Liability and Workers’ Compensation Property, Liability and Workers’ Compensation NEW INFORMATION 14.7%-$469,866$550,935TotalNew Coverage14,165 $14,165N/ATravelersCyber$6,289$6,289SteadfastPollution$4,543$4,543ChubbCrime247 $80,666$80,419Landmark/EssesEarthquake(94,623)$184,554$27 9,177SDRMAWorkers' Comp(1,000)$24,500$25,500Endurance-CRC Excess Liability142 $155,149$155,007One BeaconGeneral LiabilityNotesChange2016/172015/16CompanyCoverageTruckee Donner PUD Renewal 2016 Property, Liability and Workers’ Compensation Property, Liability and Workers’ Compensation NEW INFORMATION InsureApplication for a Public Entity Certificate of Consent to Self •AgreementRequires District to execute and enter into a Joint Powers •year commitment to the program-Requires a three•Authority (SDRMA)Switch carriers to Special District Risk Management •Mod increased from 1.3 to 1.84-X•34%) from the previous year-(Workers’ Compensation insurance premium decreased $94,623 •Property, Liability and Workers’ Compensation Property, Liability and Workers’ Compensation NEW INFORMATION Funds transfer fraud•Computer fraud•Crisis management event expenses•efense expensesdRegulatory •edia liabilitymCommunications and •Network and information security•riskCyber coverage added to protect District from computer based •Property, Liability and Workers’ Compensation Property, Liability and Workers’ Compensation FISCAL IMPACT budgetAdjustment will be taken into consideration for the proposed FY17 •Sufficient funds in the FY16 budget•Annual membership dues with SDRMA of $6,089•Proposed insurance premiums total $469,886•Insurance RenewalProperty, Liability and Workers’ Compensation Insurance RenewalProperty, Liability and Workers’ Compensation RECOMMENDATION Insure Workers’ Compensation Liabilities-SelfIndustrial Relations, State of California for a Certificate of Consent to pplication to the Director of a15 authorizing -Adopt Resolution 20164)Authority Workers’ Compensation Programand Authorizing Participation in the Special District Risk Management execution of a Sixth Amended and Restated Joint Powers Agreement 14 approving the form of and authorizing the -Adopt Resolution 20163)proposalsAuthorize General Manager to execute contracts associated with the 2)of one year beginning June 1, 2016period aproperty, liability and workers’ compensation insurance for Renewal Proposal for the InterWestAward contracts presented in the 1)Insurance RenewalProperty, Liability and Workers’ Compensation Insurance RenewalProperty, Liability and Workers’ Compensation