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Approve Joining ICRMA and Insurance Costs for FY 19/20 <br />July 2, 2019 <br />Page 5 <br />POOL PROPOSAL COVERAGE COMPARISONS INCL SIRS, GL, WC & ADDITIONAL LINES OF <br />COVERAGE <br />ICRMA <br />GL-EXCESS <br />PROGRAM <br />Maximum Pool <br />Reinsurance <br />$40 Million <br />Self -Insured <br />Retention <br />$2 Million <br />WC - EXCESS <br />$1.5 Million <br />PROGRAM* <br />SIR <br />LIMITS <br />RETENTION / <br />DEDUCTIBLE <br />CYBER* <br />$3 Million <br />$15k <br />CRIME <br />$10 Million <br />Nil <br />PROPERTY & <br />$250 M <br />$250K Per Occ <br />EQUIPMENT <br />/ $416K Agg <br />BREAKDOWN, DIC <br />Equipment <br />Breakdown, <br />$10K <br />Ind/Member <br />Mtc: $10K <br />Property & EB, <br />COSA Stop <br />Loss of $552k <br />AUTO PHYSICAL <br />$25k pool/$5k <br />DAMAGE <br />$10 Million <br />mem <br />$10 Million <br />Primary, <br />Excess $15 <br />2% per/unit, <br />EARTH MOVEMENT <br />Million x $10 <br />$100k min, <br />& FLOOD <br />Million <br />Flood $100k <br />TERRORISM <br />$10 Million <br />Nil <br />*Required <br />participation as a <br />member of ICRMA. <br />CSAC-EIA & Alliant Insurance Services <br />GL-2 EXCESS <br />PROGRAM <br />Maximum Pool <br />Reinsurance <br />$27 Million <br />Self -Insured <br />Retention <br />$2 Million <br />WC - EXCESS <br />PROGRAM <br />$1 Million SIR <br />LIMITS <br />RETENTION / <br />DEDUCTIBLE <br />$2 Million <br />CYBER EXCESS <br />A2gregate <br />$50k or $100k <br />CRIME <br />$15 Million <br />$25k <br />APIP <br />Property $1 B All <br />$1 OK All Risk, <br />(property/boder& <br />Risk, $82.5M all <br />$250k Flood <br />Mach/auto, <br />flood zones, $50M <br />Zones A & B, <br />All Risk Property <br />Flood Zones A, <br />$100k All Other <br />including <br />Flood but excluding <br />B&M-$100M, <br />Flood Zones, <br />Earthquake), <br />Cyber-$2M/$25M <br />$25k Vehicle, <br />CYBER, <br />Annual & Prog Agg <br />$2500 B&M, <br />POLLUTION, DIC, <br />all members <br />$100k C ber, <br />y <br />VEHICLE <br />combined, Pollution <br />$100k Pollution <br />- $2M Pool Agg, <br />$2M Named Ins <br />Agg, $2M/$25M <br />Per Poll Cond or <br />Indoor Environ, DIC <br />$1 OM per occ <br />$25M Agg <br />DEADLY <br />WEAPONS <br />RESPONSE I <br />$500k i <br />$10k <br />UST - <br />UNDERGROUND <br />STORAGE <br />TANKS <br />$50K TO $100K <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal # 4 - City Financial Stability, Objective #1 <br />(maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />The above estimated premiums are a decrease over Fiscal Year 2018/2019 of $853,000 or 17.4% <br />while retaining similar coverage levels. <br />Funds are budgeted in the proposed 2019/20 Liability & Property Insurance account, Insurance <br />(Risk Management), (No. 08009051-64010) for an estimated premium and administrative costs not <br />to exceed $3,090,000 and Workers' Compensation account, Insurance (Risk Management), (No. <br />08209054-64010) for an estimated premium cost not to exceed $912,000. <br />55E-5 <br />