Title
An Ordinance approving the FY2020 Property And Liability Insurance Program, authorizing the City Manager to enter into Agreements with CNA Insurance, States Self-Insurers Risk Retention Group, Glatfelter Insurance Group, Chubb Limited, Physicians Professional Indemnity Association, and Traveler’s Insurance for the procurement of property and liability insurance coverage and related services for FY2020, and authorizing the City Attorney to approve individual claim expenses and/or settlements in amounts not to exceed $20,000.00 per claim.
(Note: This was first read by Council on June 4, 2019 and passed by unanimous vote.)
Body
Issue/Request:
An ordinance approving the FY2020 Property And Liability Insurance Program, authorizing the City Manager to enter into Agreements with CNA Insurance, States Self-Insurers Risk Retention Group, Glatfelter Insurance Group, Chubb Limited, Physicians Professional Indemnity Association, and Traveler’s Insurance for the procurement of property and liability insurance coverage and related services for FY2020, and authorizing the City Attorney to approve individual claim expenses and/or settlements in amounts not to exceed $20,000.00 per claim.
Key Issues:
• Each year the City Council considers and approves the City’s property and liability insurance program.
• Overseen by the Law Department since 2012, the City has enjoyed reduced premium and claim expenses and has increased autonomy and flexibility in the claims management process.
• City’s incumbent carrier since 2011 for liability insurance has been One Beacon Insurance.
• City is proposing carriers for its liability coverage from OneBeacon to States Self-Insurers Risk Retention Group, Inc. (“States”) to reduce premium costs and give City more autonomy and involvement in claims management
• Based on FY2020 premium quotes, changing from OneBeacon to States insurance could result in a premium savings of approximately $180,000 per year.
• States does not provide auto physica...
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