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ICRMA JPA Renewal / Broker Agreement / Associated Premiums and Costs
<br />July 19, 2022
<br />Page 3
<br />QUOTED & ESTIMATED PREMIUMS & FEES
<br />WORKERS' COMPENSATION
<br />COVERAGES
<br />FY 2020/21
<br />FY 2021/22
<br />FY 2022/23
<br />Excess Pool Workers'
<br />Compensation Program
<br />$
<br />386,000
<br />$
<br />298,553
<br />$
<br />345,678
<br />Excess Workers' Compensation
<br />Buffer
<br />$
<br />194,000
<br />$
<br />240,118
<br />$
<br />257,356
<br />Total
<br />$
<br />580,000
<br />$
<br />538,671
<br />$
<br />603,034
<br />Percent Change
<br />-5%
<br />-7%
<br />12%
<br />LIABILITY AND PROPERTY
<br />COVERAGES
<br />FY 2020/21
<br />FY 2021/22
<br />FY 2022/23
<br />Excess Pool Liability Program
<br />$
<br />1,680,000
<br />$
<br />3,936,181
<br />$
<br />5,123,142
<br />Auto Physical Damage Program
<br />$
<br />79,000
<br />$
<br />119,215
<br />$
<br />129,488
<br />Property & Equipment Program
<br />$
<br />455,000
<br />$
<br />472,724
<br />$
<br />485,380
<br />Crime Program
<br />$
<br />12,000
<br />$
<br />11,914
<br />$
<br />14,233
<br />Cyber Program
<br />$
<br />31,000
<br />$
<br />66,441
<br />$
<br />111,964
<br />Excess Liability Buffer
<br />$
<br />786,000
<br />$
<br />993,265
<br />$
<br />1,233,321
<br />DIC Earth Movement & Flood
<br />$
<br />844,000
<br />$
<br />985,856
<br />$
<br />1,126,819
<br />Terrorism
<br />$
<br />13,000
<br />$
<br />12,330
<br />$
<br />13,164
<br />Underground Storage Tanks-
<br />Environmental
<br />$
<br />8,000
<br />$
<br />10,157
<br />$
<br />15,000
<br />Total
<br />$
<br />3,908,000
<br />$
<br />6,596,162
<br />$
<br />8,855,546
<br />Percent Change
<br />22%
<br />63%
<br />21%
<br />ENVIRONMENTAL IMPACT
<br />There is no environmental impact associated with this action.
<br />FISCAL IMPACT
<br />Funds are budgeted in the adopted FY 2022-23 Liability & Property insurance account
<br />No. 08009051-64010 for an estimated premium and administrative cost not to exceed
<br />$9,036,300. Funds are budgeted in the adopted FY 2022-23 Workers' Compensation
<br />insurance account No. 08209054-64010 for an estimated premium and administrative
<br />cost not to exceed $1,300,000.
<br />Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director - Finance and
<br />Management Services Agency
<br />EXHIBIT(S)
<br />1. Agreement with Arthur J. Gallagher Insurance Brokers of California, Inc. For
<br />Insurance Broker Services, Client Service Agreement
<br />City Council 22 - 3 7/19/2022
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