Title:
Title
Renewal of Insurance Policies FY2019/20 (Published for 10-Day Review 06/13/2019)
End
FileID
File ID: 2019-00833
Location
Location: Citywide
Recommendation:
Recommendation
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, Bounce House, and Airport Liability, for an amount not to exceed $7,189,519, including $150,000 for unexpected increases in costs.
Contact: Patrick Flaherty, Risk Manager, (916) 808-8587; Renita Nelson, Administrative Analyst, (916) 808-3543, Department of Human Resources
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Attachment A (FY 2020 Insurance Policies and Premiums)
3-Attachment B (Comparison of Insurance Policies and Premiums)
Description/Analysis
Issue Detail: The City faces a complex array of risks that can result in severe or catastrophic loss. 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, and airport/aircraft exposures. Alliant 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 the insurance programs in terms of potential loss, coverage, self-insured retentions, deductibles, and policy limits and recommend the purchase of insurance a...
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