HomeMy WebLinkAboutAgenda Report - July 2, 1986 (70)CITY CMUCIL ; UT --TING 'JULY = 6
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COUNCIL 'C0,111It)'NICATIOtit
'kJ: THE CITY COUNCIL DATE
FROM. THE CITY MANAGER'S OFFICE jwie .'E , .I986
SUBJECT:
AU'T'HORIZE RENS. &d, OF THF C1'17,_-' .5 EXCESS 4CRFF RS `
PREPARED BY: As!:istant City Mjwager
RDCXil-'P4ENDED ACTION: That the City Council au tion z e rr» iewa l (-,I_ t-11
City's FN:eess T*)r',cers' Ccpx.i.on -cw(•r.:c;E
with t`"x,: EisOn .ii]5tiYaP.cE::, i.;l(_. t,'.n(Il tt?t` ti_i1Tic
outlined in the attached letter from !iri Elson.
BACKGROUND INF'ORb4M'ION: The City Purchases excess: x:ver�ige for 6Jgrkt,rs'
Ccu-pensation claims. In the par;L, *)M: -r.c:rage
has bcsen for $5,000,000 with Cl $1 `,,00;
self-insured retention. This year we can oil,',,,- c-ibt rir tl.ir; I.inut Witt:
$150,000 self-insured retention.
Mr. Elson has mde arrangements for this coverage to be
annual cost of $26,346, an increase of $13,746 over last year.
It would not be prudent to drop this insurance coverage. I instructed
Mr. Elson to bind this coverage until Council has xr, opix>rttuiity to act
it.
In the 1986-87 budget we budceted $12,G00. There re sUificient re5<z:
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in the Workers' Cotripensation Flmd to pay this additio;.<:? prcrdtmi.
Respectfully sul-rdtte-d,
�Y ,,ti 1-11
7
Jerry L. Glenn
Assistant City Manager
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832 SOUTH FAiRMONT AVENUE LODI, CALIFORMIA 95241 P.O. BOX 490 2091369-3633
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832 SOUTH FAIRMONT AVENUE • LODI, CALIFORNIA 95241-0490 • P.O. BOX 490 • 209/369-3633
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CZTZ OF LODT
221 Wast Pins Street
Lodi,CA. 95240
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%AMEC
INSURED
0951 7/1/66 1 7/1/67 {OU
CUSTOMER NO. 009700 DATE 6/23/86
$26.346.
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> Y AGEN
SE VAS YOU FIRST
PREMIUMS DUE AND PAYABLE ON EFFECTIVE DATE OF POLICY $26.346.00
MAX ELSON INSURANCE, INC. BALANCE
EXPIRATION COPY
•routir
Pr.",.D .
$26.346.
elvell'tj
> Y AGEN
SE VAS YOU FIRST
PREMIUMS DUE AND PAYABLE ON EFFECTIVE DATE OF POLICY $26.346.00
MAX ELSON INSURANCE, INC. BALANCE
EXPIRATION COPY