City Council

Item No. 19. 2023-0385 CONSIDER RENEWAL OF EXCESS LIABILITY,\nEXCESS WORKERS COMPENSATION, ALL-RISK\nPROPERTY, AUTO PHYSICAL DAMAGE, INLAND\nMARINE EQUIPMENT INSURANCE, EARTHQUAKE,\nCYBER LIABILITY, VOLUNTEER ACCIDENT, DRONE\nINSURANCE, CRIME INSURANCE, STORAGE TANK\nLIABILITY AND FIDUCIARY LIABILITY INSURANCE\nFOR FY 2023/24 (CITY COUNCIL)\nRecommendation: TAKE the following actions:\n1. APPROVE PRISM's GL1 Program to provide\ncoverage for the City's Excess Liability Insurance for FY 2023/24,\nat an overall not-to-exceed cost of $1,048,000.\n2. APPROVE PRISM to provide coverage for the\nCity's Excess Workers' Compensation Insurance for FY 2023/24,\nat an overall not-to-exceed cost of $159,000.\n3. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place all risk property insurance through the\nAlliant Property Insurance Program ("APIP"), including terrorism,\nand pollution, for FY 2023/24, at an overall not-to -exceed cost of\n$282,242.\n4. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place physical damage Insurance for City's\nautomobiles with Alliant Mobile Vehicle Program (AMVP) for FY\n2023/24, at an overall not-to -exceed cost of $12,000.\n5. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place Parametric Earthquake coverage with\nFair American Select Insurance Company for FY 2023/24, at an\nannual premium of $5,911.\n6. APPROVE PRISM to provide Cyber Liability\nInsurance for FY 2023/24, at an overall not-to -exceed cost of\n$35,000.\n7. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place Volunteer Accident Insurance with\nThe Hartford Insurance Company for FY 2023/24, at an annual\npremium of $340.\n8. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place the City's Drone Insurance with Global\nAerospace Insurance Company for FY 2023/24, at an annual\npremium of $1,715.\n9. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place Alliant Crime Insurance Program\n(ACIP) to provide the city's crime coverage for FY 2023/24, at an\noverall not-to -exceed cost of $3,500.\n10. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place Storage Tank Liability Insurance with\nACE American Insurance Company for FY 2023/24, at an annual\npremium of $2,058.\n11. APPROVE the City's insurance broker, Alliant\nInsurance Services, to place Fiduciary Liability coverage with\nHudson Insurance Company for FY 2023/24, at an annual premium\nof $6,855.\n12. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Inland Marine (Contractors Equipment)\ncoverage with Travelers Insurance Company, or other insurance\ncompany if cost-effective, for FY 2023/24, at an annual\nnot-to-exceed premium of $11,000.\nAttachments: Carson Executive Summary - Year Over Year as of 6.1.22 for SR v2.pdf