AGENDA REPORT
REQUEST FOR CITY COUNCIL AND
CORONA UTILITY AUTHORITY ACTION
DATE: 6/21/2017
TO: Honorable Mayor and City Council Members
Honorable President and Board Members
FROM: Legal and Risk Management
SUBJECT:
Title
City Council and Corona Utility Authority consideration and approval of City Liability, Property and Workers' Compensation Insurance Policies for fiscal year 2017-2018
End
RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Authorize the renewal of the City's excess general liability insurance policy with the California State Association of Counties Excess Insurance Authority (CSAC-EIA) for Fiscal Year 2017-18, with an estimated premium amount of $415,000, coverage of $25,000,000 per occurrence, and a self-insured retention (SIR) of $500,000 per occurrence.
2. Authorize the renewal of the City's excess workers' compensation insurance policy with CSAC-EIA for Fiscal Year 2017-18, with an estimated premium amount of $245,000. Coverage is equal to the statutory requirements for workers' compensation and $5,000,000 per occurrence for employer's liability, and an SIR of $1,000,000 per occurrence. The premium is based on estimated payroll and is subject to adjustment based on actual payroll.
3. Authorize the renewal of the City's property insurance with Alliant's Property Insurance Program (APIP) for Fiscal Year 2017-18, with an estimated premium amount of $285,000, coverage for both real and personal property valued at $505,827,203, and an SIR of $5,000 per occurrence for all property other than wells, which have an SIR of $500,000.
4. Authorize the renewal of the City's Master Government Crime insurance policy with the National Union Fire Insurance Company of Pittsburgh, PA (AIG) for Fiscal Year 2017-18, with an estimated premium amount of $7,900, coverage of $15,000,000 per occurrence, and a deductible of $2,500 per occurrence.
5. Authorize the renewal of the City's Airport Liability insurance policy with the Old...
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