10.G.
City Council Meeting - FINAL
- Meeting Date:
- 05/19/2015
- From:
- Dean Coughenour, Assistant to City Manager - Risk Management
Information
TITLE:
Consideration and Approval of Contract: Approve the renewal of our Workers' Compensation contract with Copperpoint Mutual Insurance at an estimated annual cost of $725,000. (Workers Compensation Insurance Contract).
RECOMMENDED ACTION:
-
Council approve the renewal of our Workers' Compensation contract with Copperpoint Mutual Insurance at an estimated annual cost of $725,000.
Executive Summary:
Approval of the renewal of our Workers' Compensation coverage at a reduction of $120,000. No changes in coverage or insurance providers.
Financial Impact:
By renewing our Workers' Compensation insurance coverage with CopperPoint insurance the City will save an estimated $120,000 this fiscal period in addition to the $253,000 we saved at last year's renewal. The estimated annual premium for 2015-2016 is less than the total paid during the 2005-2006 fiscal period. This is the same insurance carrier with the same coverage.
Connection to Council Goal and/or Regional Plan:
Effective governance.
Has There Been Previous Council Decision on This:
Council received a short briefing on our Workers' Compensation renewal during the three day budget retreat.
Options and Alternatives:
1) Approve
2) Request additional quotes
3) Recommend self insurance for the following fiscal period
Community Involvement:
Inform
Attachments
No file(s) attached.