Title
INSURANCE PROGRAM REPORT AND RECOMMENDATIONS FOR PROPERTY AND CASUALTY INSURANCE
Recommendation
Recommendation by the Human Resources Department:
1. Authorize Staff to bind excess workers’ compensation insurance with maximum limit set to statutory benefit maximums and lower limit of $750,000 for non-safety employees and $1 million for safety employees with Safety National Insurance Company at $188,655 premium cost.
2. Authorize Staff to bind earth movement and flood insurance with Endurance American Specialty Insurance Company, Landmark American Insurance Company and Lloyd’s of London with combined limits of $20 million for combined premium of $480,258.
3. Receive and file report relative to City’s insurance programs, ancillary insurance coverage purchases and participation in Independent Cities Risk Management Authority joint powers authority to procure excess liability insurance above $8 million per occurrence, All Risk Property coverage, Auto Physical Damage Insurance, Crime Insurance, Cyber Liability Insurance and Terrorism Insurance.