Title
Approval for the Mayor and/or City Administrator to sign a renewal contract for excess Workers' Compensation coverage with Midwest Employers Casualty Company Insurance in the amount of $90,789.
Human Resources
Body
Item Summary:
This is an annual renewal contract for excess workers' compensation coverage with Midwest Employers Casualty Company in the amount of $90,789 and represents an increase in annual premium of $6,122. The contract period is July 1, 2011 to June 30, 2012.
The City of Roswell is self-insured for workers' compensation claims. However, "stop loss" excess insurance is carried to cover the City in the event of a catastrophic loss or multiple large losses during the coverage period.
Committee or Staff Recommendation:
On June 14, 2011 the Administration and Finance and Recreation and Parks Committee recommended placing this Item on the June 27, 2011 Mayor and Council Agenda.
Financial Impact:
$91,350 is approved in Cost Center 9001, Line Item 521201 for Fiscal Year 2012. Upon award of this contract, $561 will remaining in the line item.
Presented by:
Dan Roach, Human Resources Director
Wendy Ademy, Risk Manager