AgdaPkt 2006-05-22 - Laserfiche WebLink

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5.38 Page 2 The following is a summary of the coverage provided through CSAC (EIA): COVERAGE PROVIDED BY: CSAC Excess Insurance Authority COVERAGE TERM: July 1, 2006 to July 1, 2007 LIMITS OF LIABILITY: CPEIA Pool Layer $5,000,000 Workers' Compensation and Employers Liability each occurrence, inclusive of SIR. Reinsured Layer $145,000,000 Workers' Compensation each occurrence in excess of $5,000,000 Pooled Layer. These limits apply per occurrence for all program members combined. There is a $10,000,000 sublimit for terrorism. Limits are eroded by allocated claims expense. SELF INSURED RETENTION: $350,000 per occurrence CSAC Excess Insurance Authority offers economic incentives not provided by other vendors; including reimbursements for cost and charges associated with annual workers' compensation claims audits, actuarial subsidies are provided up to a maximum of $2000 per year, per member, and safety and prevention classroom trainings are offered at no cost or at $25 per class. Staff will be utilizing these incentives throughout fiscal year 06-07. Staff recommends renewing the agreement with CSAC Excess Insurance Authority effective July 1, 2006 such that there is no lapse in coverage and we maintain the current SIR of 350K. Alternatives Council could instruct staff to look at other alternatives for purchasing excess insurance. Staff did get other quotes none of which offered a $350,000 SIR. Staff will re-evaluate the program at the completion of the one-year minimum commitment period. Fiscal impact The California Supervisors Association of California Excess Insurance Authority premium is estimated not to exceed $340,000. This amount has been budgeted in the FY 06-07 budget. c:?/ 4 , ' 1;1 ~~ /U ~ ~,~1;u/t Bob Be Ed Everett Human Resources Director City Manager The following documents are available at City Clerks office for review: Joint Powers Agreement Creating the California Public Entity Insurance Authority