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Home My WebLink About8 Workers comp insurance renewal Agenda Item # 8 TRUCKEE DONNER Public Utility District CONSENT To: Board of Directors From: Nancy Waters Date: July 16, 2008 Subject: 2008-09 Worker's Compensation Insurance Renewal 1. WHY THIS MATTER IS BEFORE THE BOARD Board approval is required for expenditures of more than $15,000. 2. HISTORY State Compensation Insurance Fund (SCIF) has provided worker's compensation insurance to the District for many years. SCIF is a non-profit enterprise and has proven to be stable and reliable for the District's needs. It is now time to renew the worker's compensation insurance policy (attached) for the 2008-2009 policy year. 3. NEW INFORMATION SCIF has provided a quote for the new policy period. The actual premiums paid are based on payroll amounts for each quarter. As we expected and discussed with the Board, the experience modifier has increased from 139% to 174%, increasing the estimated total premium by $45,811 to a total of $253,100 for the 2008-2009 policy year. 4. FISCAL IMPACT Sufficient funds exist in the approved 2008 budget to cover this expense. 5. RECOMMENDATION Approve the renewal of the worker's compensation insurance policy with SCIF for the 2008-2009 policy period. Mary Chapman Micliael D. Holley Administrative Services Manager General Manager STATE COM PE,N SAT ION INSVRP- "C9 FUND a6-23-2ooa TERMS OF INSURANCE MARY CHAPMAN TRUCKEE-DONNER PUBLIC UTILITY DIST PO BOX 309 TRUCKEE CA 96160 Policy: 360037-2008 Dear Mary Chapman Enclosed is the renewal quote effective 07.01-2008,with State Fund. California workers'compensation insurance provides coverage for workers'compensation losses related to acts of terrorism.You should know that effective November 26,2002, any losses caused by certified acts of terrorism would be partially reimbursed by the United States under a formula established by federal law. Under this formula,the United States pays 850/6 of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage.There is currently no charge in State Compensation Insurance Fund rates related to the risk of loss due to terrorism. This policy will automatically renew unless we hear from you otherwise. If you choose not to renew this account with State Fund, please notify us immediately in writing.Your notification should include: The name and policy number of the account; The date that coverage is being replaced; The name of and evidence of coverage with the new carrier; and The signature of the authorized broker/agent who originally placed the account with State Fund. Your Experience Rating Modifier(X-Mod)for the period 07-01-2008 to 07-01-2009 has not been published by the Workers' Compensation Rating Bureau (WCIRB). For quotations purposes only, your current X-Mod(if applicable) or an estimated X-Mod is being used. When the WCIRB issues your 2008 X-Mod, a new quote can be obtained. If a policy has been issued,the X-Mod will be endorsed onto your policy. This quote is provided on a conditional basis until 06-26.2008 , subject to the Insurance Commissioner's right to disapprove rates. We look forward to continuing our service of your workers'compensation needs. Please call us if you have any questions Sincerely, Troy L Blankenship Date This document does not provide insurance Applicant Copy THIS IS NOT A BILL Quote ID: 244341500-000 SI TS Quote Date: 06-23.2008 GOM PIE N5AT10N IN9Ij "ANGz FUND Applicant.Broker. TRUCKEE-DONNEA PUBLIC UTILITY DISTRICT PO BOX 309 Truckee CA 96160 Phone: Phone: Fax. Fax: Contact: Mary Chapman Conrad WC1R8 Number. 129798 Proposed Coverage period: 07-01-2008-07-01-2009 Employer's Liability Limits: $1,000,000.00 Estimated Premium Summary Base Premium S166,016.00 Experience Mod 1.74 Estimated Standard Premium $238,868.00 Estimated Modified Premium $283,868.00 TOW Estimated Annual Premium $253,100.00 Minimum Premium $270.00 Mandatory Surcharges WCA Surcharge $2,709.00 WCFA Surcharge $605.00 UEST Surcharge S438.00 51BT Surcharge S79.00 CIGA Surcharge $5,062.00 Initial Premium Deposit $25,310.00 Total Deposit $34,204.00 State Fund Representative: Troy I.Blankenship Phone: 916-924-5176 This document does not provide insurance Applicant Copy THIS IS NOT A BILL Quote ID: 244341500-000 STATE Quote Date:06-23.2008 CponPE NSAT1QN FUND Class Code and Rate Summary Class Code&Rate Summary Coverage Period: 07-01-2008-07-01-2009 Base Interim Class Billing Code Rate Rate* 8810.1 1.01 0-88 8742-1 1.17 1.03 7539-1 3.94 3.45 7520-1 8.07 7.07 This document does not provide insurance Applicant Copy THIS IS NOT A BILL Quote ID: 244341500-000 STATE Quote Date. 06-23.2008 COMF'E NSRTION I N S U R A N C E FUND Coverage Period: 07-01.200a 07.012009 Base Premium $166,016.00 Experience Modification 1.74 Estimated Standard Premium S268,868.00 Rating Plan Modifier f.00000 Estimated Modified Premium $288,868.00 Estimated Premium Discount Credit Factor* 0.87618 Interim Billing Factor" 0.87613 Mandatory Surcharges WCA Surcharge 1.0703% $2,709.00 WCFA Surcharge 0.2394% $606.00 DEBT Surcharge 0,1730% 0438.00 SIST Surcharge 0.0311% $79.00 CIGA Surcharge 2.0000% $5,062.00 'Premium Discount:Modifed Premium is discounted according to the following schedule: First $5,000 - 0.0% Above$5,000 - 12.6% This quote is based on information provided to State Fund.Your experience modification will apply to these interim-billing rates. V#Interim billing rates shown in this quote will be used on payroll reports.They take into account rating plan credits(or debits),which will apply at final billing and an estimate of your premium discount as detailed above.The actual discount applied at final billing will be based on the actual payroll reported on your policy and subject to audit. Your Experience Rating Modifier(X-Mod)for the period 07-01-2008.07-01-2009 has not been published by the Workers'Compensation Rating Bureau(WCIRB).For quotations purposes only,your current X-Mod(if applicable)or an estimated X-Mod is being used. When the WCiRB issues your 2008 X-Mod,a new quote can be obtained.If a policy has been issued,the X-Mod will be endorsed onto your policy. This quote is provided on a conditional basis until 06-26.2008,subject to the Insurance Commissioner's right to disapprove rates. This document does not provide insurance Applicant Copy THIS IS NOT A BILL Quote ID: 244341500-000 STATE Quote Date:06-23-2008 - CO WI ForN5ATION INSV RANC F. FUND 'Classification Exposure Detail lea NuMber Slasa .. . „ .. Embmeded Eatillaw Number of ein ym 99 Descriplion Rota Pa--� premium Non Schedule Classification Coverage Period:07-01-2008-07-01-2009 1 15 7520-1 WATERWORKS-OPERATION $8.07 $1,055,012.00 $85,139.47 1 20 7539.1 POWER COMPANIES $3.94 S1,466,615.00 $57,784.63 1 15 8742.1 SALESPERSONS-OUTSIDE S1.17 $800,589.00 S9,366.89 1 22 8810-1 CLERICAL OFFICE EMPLOYEES $1.01 $1,368,876.00 $13,724.64