AGENDA REPORT
REQUEST FOR CITY COUNCIL AND
CORONA UTILITY AUTHORITY ACTION
DATE: June 19, 2019
TO: Honorable Mayor and City Council Members
Honorable President and Board Members
FROM: Legal and Risk Management Department
SUBJECT:
Title
City Council and Corona Utility Authority consideration and approval of City Liability, Property and Workers' Compensation Insurance Policies for fiscal year 2019-2020.
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 2019-2020, with an estimated maximum premium amount of $608,000, coverage of $25,000,000 per occurrence, and maintenance of our self-insured retention ("SIR") at $500,000 per occurrence.
2. Authorize the renewal of the City's excess workers' compensation insurance policy with CSAC-EIA for Fiscal Year 2019-2020, with an estimated premium amount of $243,964. 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 2019-2020, with an estimated premium amount of up to $299,019, coverage for both real and personal property valued at approximately $557,659,042 (up from $535,181,844 last year), continuation of coverage for vehicles at actual cash value (as opposed to replacement value), continuation of coverage off-premises only for vehicles with a value of $100,000 or more, and the continuation of the primary SIR levels set at $5,000 per occurrence for vehicles off-premises; $10,000 per occurrence for vehicles on-premises, $50,000 for buildings and facilities, and $500,000...
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