Title
Contracts: Authorizing City's Insurance Broker to Renew the City's Contracts for Insurance [Published for 10-day Review 06/14/2024]
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FileID
File ID: 2024-01206
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Location
Location: Citywide
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Recommendation
Recommendation: 1) Pass a Motion authorizing the City Manager or City Manager's designee to authorize Alliant Insurance Services, Inc., the City's insurance broker, to secure insurance policies for Excess Liability, Excess Workers' Compensation, Property, Fine Arts, Aircraft, and other insurance including Crime, Pollution, Underground Storage Tank, Special Events, and Airport Liability, for an amount not-to-exceed $22,029,225, including $700,000 for unexpected increases in costs.
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Contact
Contact: Patrick Flaherty, Risk Manager, (916) 808-8587, pflaherty@cityofsacramento.org, Department of Human Resources
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-Attachment A Fiscal Year 2025 Insurance Premiums
3-Attachment B Schedule of Insurance
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Additional Description/Analysis
IssueDetail
Issue Detail: The City faces a complex array of risks that can result in severe or catastrophic losses. The City utilizes professional insurance brokerage services to place a variety of commercial insurance policies to protect the City from these losses. The City currently contracts with Alliant Insurance Services Inc. (Alliant) to perform this function. Purchasing insurance helps protect the City from catastrophic liability claims, automobile accidents, and workers' compensation injuries. Additionally, purchasing insurance protects the City from loss due to damage or destruction of City assets, pollution, crime, fine arts, cyber liability, special events, and airport/aircraft exposures. The City's insurance broker marketed all lines of insurance coverage to ensure all viable options were considered. Alliant and the Department of Human Resources, Risk Management Division have evaluated each of t...
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