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ICRMA Excess Liability Insurance Premiums <br />September 7, 2021 <br />Page 2 <br />1 <br />9 <br />8 <br />6 <br />City of Santa Ana – Member Share of <br />Premium - $3,936,181 <br />City of Santa Ana – Adjusted Member <br />Share of Premium - $4,111,648 <br />A special meeting of the ICRMA Board was held July 8, 2021 to bring alternatives to the <br />Board for a decision on the change of coverages. The proposed adjustments were <br />approved by the ICRMA Board, resulting in an increase of the premium costs. This <br />increase exceeded the amount identified in the June 15, 2021 staff report. Therefore, <br />staff recommends that the City Council approve the increased amount of the premium <br />costs. The initial amount approved was estimated not to exceed $3,936,181. The <br />adjusted amount is 4,111,648—a difference of $175,467. <br />Staff recommends the approval of the aforementioned actions. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />Excess General Liability Insurance Premiums are budgeted for FY 2021-22. Funds are <br />available in Human Resources Department Risk Management Division. <br />Fiscal <br />Year <br />Accounting <br />Unit <br />Fund <br />Description <br />Accounting Unit, <br />Account Description Amount <br />2021-22 08009051- <br />64010 <br /> Liability and <br />Property Ins Fund Insurance Payment $175,467 <br />Submitted By: Jason R. Motsick, Executive Director of Human Resources <br />Approved By: Kristine Ridge, City Manager