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ICRMA JPA Renewal / Broker Agreement / Associated Premiums
<br />June 15, 2021
<br />Page 2
<br />e. Approve the City's continued participation in ICRMA's Crime Program from
<br />July 1, 2021 to June 30, 2022 at estimated premium, fees, and taxes not to
<br />exceed $15,456.
<br />f. Approve the City's continued participation in ICRMA's Cyber Program from
<br />July 1, 2021 to June 30, 2022 at estimated premium, fees, and taxes not to
<br />exceed $70,314.
<br />3. Authorize the City Manager to approve payment of insurance premiums to Arthur
<br />J. Gallagher, Broker, for coverages of City's assets.
<br />a. Approve the City's General Liability Buffer Program from July 1, 2021 to
<br />June 30, 2022 at estimated premium, fees, and taxes not to exceed
<br />$962,000;
<br />b. Approve the City's Workers' Compensation Buffer Program from July 1,
<br />2021 to June 30, 2022 at estimated premium, fees, and taxes not to exceed
<br />$240,118:
<br />c. Approve the City's Earth Movement & Flood and Difference in Coverage
<br />Program from July 1, 2021 to June 30, 2022 at estimated premium, fees,
<br />and taxes not to exceed $985,856;
<br />d. Approve the City's Terrorism Insurance Program from July 1, 2021 to June
<br />30, 2022 at estimated premium, fees, and taxes not to exceed $12,330; and
<br />e. Approve the City's Underground Storage Tank Program from July 1, 2021
<br />to June 30, 2022 at estimated premium, fees, and taxes not to exceed
<br />$10,157.
<br />4. Approve the City's obligation to pay the State of California Department of Industrial
<br />Relations (DIR) fee for the Workers' Compensation Program from July 1, 2021 to
<br />Junc 30, 2022, at an estimated assessment not to excccd $365,000.
<br />5. Authorize an appropriations adjustment to add an amount not to exceed
<br />$1,500,000 to account 08009051-64010 Insurance Payment for increased
<br />expenditures to insurance premiums above the currently proposed budget.
<br />DISCUSSION
<br />Staff is recommending renewal with Independent Cities Risk Management Authority
<br />(ICRMA), a joint powers authority formed in 1980 in accordance with California
<br />Government Code Section 6500. ICRMA's purpose is to provide: i) excess and re-
<br />insurance to protect members from extensive financial debt due to large claims,
<br />settlements and judgments, ii) group insurance purchasing power that can offer broader
<br />coverage at a lower cost, iii) rate stability, and iv) protect individual member cities through
<br />pooling of losses, and self-insurance. ICRMA also offers to its' members actuarial
<br />City Council 35 — 2 6/15/2021
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