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Insurance Renewals <br />July 1, 2013 <br />Page 2 <br />public agencies with group purchasing strength. Since 1993, PEPIP has grown to include over <br />6,400 members in 45 states, which has allowed the group to purchase property insurance at <br />affordable premiums. The estimated $450,000 premium will provide $1,000,000,000 of coverage <br />for insured City properties. PEPIP will provide the City with $100,000,000 for boiler and machinery <br />damage and $82,500,000 in coverage for flood damage (coverage is in limited to $50,000,000 in <br />Flood Zone A.) Due to the excessive premium cost of earthquake insurance, the City will not seek <br />this coverage. <br />Insurance deductibles will be as follows: <br />Coverage Deductible <br />Flood $100,000 except $250,000 for Flood Zone A locations <br />Vehicles $25,000 <br />All other occurrences $10,000 <br />Boiler & Machinery $2,500 to $350,000, depending on the pieces of equipment <br />involved <br />The City joined the California State Association of Counties - Excess Insurance Authority (CSAC- <br />EIA) Crime Bond Program on April 1, 2004. The estimated renewal premium from July 1, 2013 to <br />July 1, 2014 is $12,500. <br />The City Manager will review the quotations and make the final decision to secure the coverages. <br />FISCAL IMPACT <br />Funds are budgeted in the proposed 2013-14 Liability & Property Insurance account (account no. <br />08009051-64010) and Workers' Compensation account (account no. 08209054-64010). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />r <br />U I <br />l <br />E ward Raya <br />Executive Director <br />Personnel Services <br />ER/BM <br />Francisco Gutierrez <br />Executive Director 1 <br />29A-2 <br />Finance & Management Services Agency