Laserfiche WebLink
<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />. CITY COUNCIL MEETING DATE: <br /> <br />~ <br />~ <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />MARCH 15, 2004 <br />TITLE: <br /> <br />EMPLOYEE FAITHFUL PERFORMANCE <br />INSURANCE RENEWAL <br /> <br />APPROVED <br /> <br />0 As Recommended <br />0 As Amended <br />0 Ordinance on 1~ Reading <br />0 Ordinance on 2"' Reading <br />0 Implementing Resolution <br />0 Set Public Hearing For <br /> <br />.,..1-. <br /> <br />~GER <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Purchase Employee Faithful Performance insurance through the California <br />Public Entity Insurance Authority at a premium cost of $19,247 for the <br />coverage period of April 1, 2004 to June 30, 2006. <br /> <br />DISCUSSION <br /> <br />. The City has purchased excess workers' compensation insurance from the <br />California Public Entity Insurance Authority (CPEIA) since July 1, 2002. <br />CPEIA has offered the City a $19,247 quotation in their crime program with <br />a $10 million limit for a 27-month period from Ap~il 1, 2004 to June 30, <br />2006 and a $25,000 per occurrence deductible. The renewal premium for our <br />current Employee Faithful Performance insurance with Driver Alliant is <br />$21,795 for a one-year period from April 1,2004 to April 1, 2005 and only <br />includes a $6 million insurance coverage limit. <br /> <br />The coverage in the Driver Alliant Crime Program is virtually identical to <br />that offered by CPEIA. However, CPEIA offers a higher limit of $10 <br />million and provides the City with 15 months of additional coverage at a <br />lower cost. The CPEIA program covers the following: <br /> <br />l. <br />2. <br />3. <br />4. <br />5. <br />6. <br /> <br />Employee dishonesty with faithful performance coverage <br />Forgery and alteration <br />Theft, disappearance and destruction <br />Robbery and safe burglary <br />Computer fraud including funds transfer coverage <br />Money orders and counterfeit paper currency <br /> <br />. <br /> <br />19C-1 <br />