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22.
Regular City Council
Meeting Date:
02/26/2024
Submitted For:
Katrina Bodenhamer
Initiator:
Leslie Arnold, Attorney Secretary
Department:
City Attorney
Staff Information Source:
City Attorney
Information
AGENDA ITEM TITLE:
Consider approval of a contract renewal with Midwest Employers Casualty Company for Excess Workers' Compensation Insurance, in the amount of $118,551.00, or take other necessary action. (Katrina Bodenhamer)
BACKGROUND:
United Safety & Claims solicited bids from three companies for excess workers' compensation insurance for claims over and above our self-insurance retention. Midwest Employers Casualty Company remained the most competitive. ARCH Insurance declined to quote, as did Safety National Casualty Corporation. Therefore, Staff recommends remaining with the current carrier, Midwest Employers Casualty Company. The premium amount increased from 97,753.00 to $118,551.00 for the 2024-2025 fiscal year.
The self-insurance retention remains at $750,000 for police and fire, and remains at $500,000 for all other classes of employees.
RECOMMENDED ACTION:
Approve the contract renewal with Midwest Employers Casualty Company for fiscal year 2024-2025.
Fiscal Impact
Attachments
Renewal Quote
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