Title
Consider recommendation from the Finance/Administrative Committee to approve a contract with the Texas Municipal League-Intergovernmental Risk Pool for property and casualty, and workers’ compensation insurance, in the amount of $99,776, for the period October 1, 2019, through September 30, 2020.
Body
RECOMMENDED MOTION:
Move the board approve a contract with the Texas Municipal League-Intergovernmental Risk Pool for property and casualty, and workers’ compensation insurance, in the amount of $99,776, for the period October 1, 2019, through September 30, 2020, and authorize the General Manager to execute the contract.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative Committee recommendation to approve a contract with Texas Municipal League (TML) Intergovernmental Risk Pool for property and casualty, and workers’ compensation insurance for the plan year October 1, 2019 through September 30, 2020.
In 2016, the board approved a contract with TML for property and casualty, and workers' compensation insurance with options to renew for three additional years. This item represents the last of the three renewal options. The renewal for plan year 2020 totals $99,776, and represents a $4,844, or 5.1% increase over the current plan year costs. This increase is attributed to claims experience and property value increases over the 2019 plan year.
This renewal would ordinarily be presented to the Finance/Administrative Committee at the August meeting, prior to the commencement of the plan which begins October 1 of each year. However, TML was migrating to a new claims and billing system which necessitated a delay in the EAA receiving a formal renewal notice.
At theOctober 22 meeting, the Finance/Administrative Committee voted to recommend the board approve a contract with the Texas Municipal League-Intergovernmental Risk Pool for property and casualty, and workers’ compensation insurance, in the amount of $99,776, for...
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