HomeMy WebLinkAboutAgenda Report - February 3, 1982 (54)llowirig introduction of the secondmatter, council, on mot -ion 01
CITY'S SEFo
LF Murphy DZURANCE LIAT31LIV councilman Pinkerton' excess liability coverage with a
PFCGPAM of $46,850 for the City's
limit of $20,000 its
self-inmired retention of $100,000
which amount represents c -m annual premium.
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February 1, 1982
Mr. Jerry L. Glenn
Assistant City Manager
CITY OF LODI
Lodi, CA 95240
Dear Jerry:
As we have been discussing, we have secured four quota-
tions on the City's Self Insurance Liability Program for
your consideration.
The figures range from a high of $62,850 to a low of
$46,850.
As you will recall, last year council authorized the pur-
chase of two policies, one with a limit of $5,000,000
over a $100,000 Self Insured Retention; the second taking
the limit to a total of $30,000,000. The annual premium
for these two policies was $63,000.
Before we finalized the second limit, we were able to
increase the overall limit to $50,000,000 with no in-
crease in the premium.
The addition of the Dial -A -Ride expost.re resulted in an
additional premium of $7,500 pro rated for the one month
remaining on 1981's policy.
The bottom line was a $50,000,000 limit, a $100,000 Self
Insured Retention for a full annual premium of $70,500.
The lowest quote for this year ,is with a limit of
$20,000,000 over a Self Insured Retention of $100,000
and carries an annual premium of $46,850.
Thi°s limit can be increased to any level you feel necess-
ary at a cost of $350 per million.
I have taken the liberty of binding this coverage at the
$20,000,000 limit subject to council's final approval.
Yours, °
JIM ELSON
JE;bjd
832 SOUTH FAIRMONT AVENUE • LODI. CALIFORNIA 95241 * P.O. BOX 188 9 2091369-= ---�
CITY OF LODI
REVIEW OF SELF INSURED LIABILITY PROGRAM
DATE
0)MPANY
NO. OF PD. LOSSES RESERVES
PDUCY ND.
LIMITS
SIR
PREM. CLAIMS & EXPENSES OUTSTANDING
2-2-77/78
ADMIRAL
S 3009000
$ 259000
$85,532 55 $ 21,649 S 71076
7CM0351
MUTUAL FIRE
200,000
K/A
25,825
EL100265
INS. CO.
5,000000
N/A
609175
ST. OF PENN.
4176-7138
2-2-78/79
ADMIRAL (602) S 500,000 S 509000 $86,466 43 $ 35,200 $ 35,826
1ST ST. INCL. INCL. INCL.
INS. CO. (40%)
7~3008
NEW HAMPSHIRE 5,000,000 N/A 479250
5178-0801
2-2-79180
ADMIRAL
CM0731
AWBASSADOR
SCO85167
2-2-W/81
TRANSCONTI-
NENTAL
SXP 3584273
2-2-81-82
TRANSCONTI-
NENTAL
SXP 3`84200
LLOYDS
1W30514
S 19000,000 $1009000 $86,430 60 S 479770 $138,340
59000,000 N/A 24,352
S 50009000 $1009000 $659250 34 5 21,358 $ 88,342
S 5,000,000 5100,000 $60,000 24 5 1,906 $ 38,337
45,000,000 N/A 3,000
CITY OF LODI
REVIEW OF SELF INSURED LIABILITY PROGRAM
COMP/ N0. OF PD. LOSSES RESQtVES
POLICY ND. LIMITS SIR PREM. CLAIMS & EXPENSES OUT TANDING
2
ADMIRAL $ 3009000 s 259000 :85,532 55 $ 21,649 $ 79016
7CM0351
MUTUAL FIRE 2009000 WA 259825
EL100265
INS. CO. 59000*000 WA 609175
ST. OF PENN.
4176-7138
2-2—Wil
TRANSCONTI-
NENTAL
SXP 3584273
X82
j TRANSCONTI-
NENTAL
SXP 3584200
LLDYDS
11130514
S 590009000 $1009000 $659250 34 s 219358
S 5,0009000 :100,000 5609000 24 $ 19906
45,0009000 N/A 3,000
L 1 i- S. Gr 4Y,1F.ESyW
2-2-78/79#
ADMIRAL (609)
S
�av
�t5DO9000
Jae 7.
f.;
s 50,000 M4ft 43 i 3
1ST ST.
INCL.
INCL. `YNCL.
INS. CO. (QX);`_
/gyp8
7~3008
NEW KVfgiTRE
s:
5,000 000
'A K7
,.)
WA 4 , 1 �& t
51T8-0801yry
_ . :
((,
2--277-9/80
�
ADMIRf.L,
s
1;OOQr000 1100,000°s86r'430 60' ' s i
CM0731
AMBASSADOR
5, OOOr 000 WA 2r-Z4r 352
SC08S167
,
2-2—Wil
TRANSCONTI-
NENTAL
SXP 3584273
X82
j TRANSCONTI-
NENTAL
SXP 3584200
LLDYDS
11130514
S 590009000 $1009000 $659250 34 s 219358
S 5,0009000 :100,000 5609000 24 $ 19906
45,0009000 N/A 3,000