Title
Consider recommendation from the Finance/Administrative Committee to approve the renewal of interlocal cooperation contracts with the Texas Municipal League Intergovernmental Risk Pool for property and casualty insurance, and for workers' compensation insurance, in the total amount of $119,242, for the period of October 1, 2021 through October 1, 2022.
Body
RECOMMENDED MOTION:
Move the board adopt Resolution and Order No. 09-21-003 of the Edwards Aquifer Authority Board of Directors approving the renewal of interlocal cooperation contracts with the Texas Municipal League Intergovernmental Risk Pool for property and casualty insurance, and for workers’ compensation insurance, in the total amount of $119,242, for the period October 1, 2021 through October 1, 2022, and authorize the General Manager to take any necessary steps to renew the contracts.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative Committee recommendation to approve the renewal of interlocal cooperation contracts with Texas Municipal League (TML) Intergovernmental Risk Pool for property and casualty insurance, and workers' compensation insurance for the plan year October 1, 2021 through October 1, 2022.
EAA staff did not competitively bid these insurance services prior to proposing approval of the contract with TML. Participation in the TML Risk Pool is considered to be an alternative to purchasing insurance and is characterized as an agreement to self-insure consistent with Statement No. 10 of the Governmental Accounting Standards Board (GASB). As such, competitive bidding requirements do not apply since there is no “purchase of insurance” but rather interlocal cooperation contracts to self-insure. EAA staff competitively bid these services in the past receiving few responses that were competitive to the TML rates for all coverages. Since 2002, TML has provided property, casualty, and workers' compensation insurance, to the EAA.
The...
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