HomeMy WebLinkAboutAgenda Report - July 3, 1985 (100)CITY COUNCIL NEE I-W—
JULY 3, 1985
CLAIMS Claims were approved in the amosnt of $2,117,416.23.
-COUNCIL COI1 MUNICATIPN
TO. THE CITY COUNCIL DATE NO.
FROM: THE CITY MANAGER'S OFFICE June 13, i 9 8 5
SUBJECT; APPROVE RENEWAL OF EXCESS WORKERS COMPENSATION COVERAGE
The City's Agent of Record, Max Elson Insurance, Inc., has presented
to the City of Lodi the attached renewal quotation for Excess
Workers Compensation coverage.
The limits on the policy being quoted by the Employers Reinsurance
Corporation is $5,000,000 with a self insurance retention or
deductible of $125,000 per claim.
The annual premium or deposit of $12,600 is based on .1713 per $100
dollars of anticipated payroll for fiscal year 1985-86.
This quotation reflects a 17% increase in rate; however, because of
the turmoil in the industry and the fine reputation of Employers
Reinsurance Corporation it is recommended that Council approve this
quotation.
Mr. Jim Elson will be in the audience to respond to any questions
the Council may have regarding the matter.
RECOMMENDED ACTION: That Council, by motion action, approve the
;enewaTlo�T the Cf y' s Excess Workers Compensation coverage for one
year with Employers Reinsurance Corporation with a premium deposit
of $12,600.
Alice M. A"imche
City Clerk
Mrs. Alice Reimche,
City Clerk
CITY OF LODI
P.O. Box 320
Lodi, CA 95241
Re: Excess Workers Compensation
Employers Reinsurance, C-22245
Dear Alice:
Enclosed is the renewal quotation on the abo„�.
To highlight the differences:
Rate .1460 to .1713 + 170
Min. 10,000 Same
Depos, 10,000 to 12,600 + 26
SIR 100,000 to 12.5,000
Alice, with the continuing turmoil in our indus-
try, I would prefer to leave this with Employers
Reinsurance as they are recognized as the leader
in this field.
IF you feel we should go to bid, please let me
know.
Thanks,
SON
JE;bjd
Encl.
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832 SOUTH FAIRMONT AVENUE LODI, CALIFORNIA 95241 ® P.O. SOX 490 209/359-333 ----