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6.1. - Page 2 of 4 <br />ANALYSIS <br />The City is required to renew the excess insurance policy on an annual basis. The City is insured through <br />CSAC and the current agreement will expire on June 30, 2020. CSAC estimates that the City's policy <br />premium for FY 2020-21 to be $750,000. <br />Staff is recommending renewal of the insurance policy with CSAC effective July 1, 2020 through June 30, <br />2021, to avoid a lapse in coverage and to ensure that the City maintains the current SIR level of $350,000 <br />for FY 2020-21. <br />FISCAL IMPACT <br />Funding for this excess insurance annual premium is included in the FY 2020-21 Recommended Budget in <br />the Workers' Compensation Self -Insurance Fund; no additional budget appropriation is required. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />ALTERNATIVES <br />The City Council could instruct staff to look at other alternatives for purchasing excess insurance; however, <br />there is a limited selection of carriers that offer an SIR amount of $350,000. The City has been a member <br />of CSAC for over ten years, is very satisfied with its services and has a good professional working <br />relationship with CSAC. <br />ATTACHMENTS <br />Attachment A — Resolution <br />Page 2 of 3 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />123 <br />