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Renew Citywide Insurance Program and Policies Procured through Independent Cities
<br /> Risk Management Authority and Arthur J. Gallagher
<br /> August 5, 2025
<br /> Page 3
<br /> WORKERS' COMPENSATION FY 2023/24 FY 2024/25 FY 2025/26
<br /> COVERAGES
<br /> Excess Pool Workers'
<br /> Compensation Program $ 415,464 $ 459,770 $ 428,629
<br /> Excess Workers' Compensation
<br /> Buffer $ 264,085 $ 300,027 $ 327,547
<br /> Sub-Total $ 679,549 $ 759,797 $ 756,176
<br /> Percent Change 13% 12% -0.5%
<br /> LIABILITY AND PROPERTY COVERAGES FY 2023/24 FY 2024125 FY 2025/26
<br /> Excess Pool Liability Program $ 6,070,925 $ 6,927,723 $ 8,202,559
<br /> Auto Physical Damage Program $ 145,108 $ 185,294 $ 188,102
<br /> Property & Equipment Program $ 593,557 $ 534,757 $ 538,928
<br /> Crime Program $ 15,394 $ 17,563 $ 18,518
<br /> Cyber Program $ 100,445 $ 118,787 $ 119,518
<br /> Associated Programs $ 5,000
<br /> Excess Liability Buffer $ 1,743,398 $ 1,805,650 $ 1,676,675
<br /> DIC Earth Movement & Flood $ 1,283,147 $ 1,353,245 $ 1,492,474
<br /> Terrorism $ 13,723 $ 14,652 $ 14,460
<br /> Underground Storage Tanks-
<br /> Environmental $ 12,539 $ 15,314 $ 9,239
<br /> Sub-Total $ 9,978,236 $ 10,972,985 $ 12,265,473
<br /> Percent Change 21% 10% 12%
<br /> FY 2023/24 FY 2024125 FY 2025/26
<br /> City Special Events Insurance $ 300,000 $ 350,000 $ 0*
<br /> State of California DIR $ 500,000 $ 500,000 $ 500,000
<br /> Total $ 11,457,785 $ 12,582,782 $ 13,521,649
<br /> *City Special Events Insurance is still being researched to best meet the needs of the City
<br /> and may be brought before Council at a later date.
<br /> ENVIRONMENTAL IMPACT
<br /> There is no environmental impact associated with this action.
<br /> FISCAL IMPACT
<br /> The recommended action includes appropriating $1.3 million from the General Liability
<br /> Fund balance. The table below compares the most recent actuarial valuations of claims
<br /> liabilities and the City's target reserve policy with the estimated spendable fund balances
<br /> for both the Workers' Compensation and General Liability Funds. Current actuarial
<br />
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