HomeMy WebLinkAboutAgenda Report - February 20, 1985 (65)February 20, 1985
Mr. Jerry L. Glenn
Assistant City Manager
CITY OF LODI
Lodi, CA 95240
Self Insured Liability Program
Dear Jerry:
To confirm our discussion of Thursday, February 14,
1985, to date we have been unsuccessful in placing
the second $10,000,000 layer on the City's liability
program.
In place is $9,750,000 excess"'of a $250,000 self
insured retention with an annual premium of $207,050.
We have r.ecei.ved an .i.ndication fr.om:,.London.that the
next $10,000,000 layer. would :run :an additional
$45,000,.which would take'the totalpremium to
$252;050.
In view of the historical loss history of the'City,
and our-',perceiwed-1.imTted exposure .to.a catastrophic
occurrence, the City's.Risk Management Committee ,is
of the option;,..that we' should remain with'the $9,750,000
limit and wait`"out..the current jitter's of the rein-
surance market.
Obviously, the final decision on this needs to come
from Council.
After Council has had the opportunity to discuss this,
please advise how I am to proceed.
Thanks,
C --
ELSON
JE;bjd
832 SOUTH FAIRMONT AVENUE LODI, CALIFORNIA 95241 P.O. BOX 490 209/309-3633