55E - RESO JOINT POWERS AUTHORITY

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Approve Joining ICRMA and Insurance Costs for FY 19/20 July 2, 2019 Page 3 ICRMA ICRMA is Accredited with Excellence by the California Association of Joint Powers Authorities. Each member may elect to participate in one or more of the programs offered by ICRMA. Coverage is provided to cities through a combination of self-insurance, commercial insurance, and reinsurance. Members determine the scope of coverage, the type and level of risk management services provided, and how claims will be resolved. ICRMA's Proactive Approach For nearly 40 years, ICRMA has helped its Members operate more efficiently and with greater cost- effectiveness, despite the uncertainties of management in an increasingly complex environment. ICRMA is a public entity governed by its Members, thus service and value, not profit, drive the organization. ICRMA offers unique services to its members, including: • Over 200 web trainings on liability and workers' compensation topics • In -person "ICRMA University" educational programs on risk topics and control measures • Learning Management System that allows you to track web and in -person training for all employees • Crises Response Coverage • Benchmarking reports • Professional risk management training materials and educational programs Liability Program The liability self-insurance arranged by ICRMA affords members protection from third -party tort claims. The annual contributions paid by each member to ICRMA are approved by the Governing Board and are calculated to cover ICRMA's claim expenses, settlements and operating costs. Program Advantages ICRMA is constantly exploring new opportunities to contain costs, provide services or limit member exposures. ICRMA offers members the following through a wide range of coverage programs: • Affordable and stable coverage through self-insurance and joint -purchase programs • Broad liability coverage features, including; full occurrence -triggered coverage for Property, Auto, and Employment Practices Liability Coverages • Multiple member retained limits (MRL) options. This offers members the flexibility to balance individual needs and financial ability while self -insuring risk • Ability to select a third -party claims administrator and manage own claims • Claims oversight and litigation management • Biennial claims audits, which are included in the annual contribution • Annual actuarial studies, which are included in the annual contribution • Access to a team of professionals to respond to standard and non-standard risk concerns The annual contribution is an estimate of the expected cost for the coverage period. If ICRMA's net assets exceed target levels, members receive dividends in accordance with ICRMA policy. If the pool is underfunded, members may owe additional funds to the pool. Members must remain in the JPA for three consecutive years. 55E-3