City Council

16. CONSIDER RENEWAL OF EXCESS LIABILITY, EXCESS WORKERS COMPENSATION, CYBER LIABILITY, ALL-RISK PROPERTY, AUTO PHYSICAL DAMAGE, INLAND MARINE (CONTRACTOR EQUIPMENT), EARTHQUAKE, VOLUNTEER ACCIDENT, AIRCRAFT (DRONE), CRIME, STORAGE TANK LIABILITY, FIDUCIARY LIABILITY, SPECIAL EVENT LIABILITY, AND TRANSIT LIABILITY INSURANCE POLICIES FOR FY 2026/27 (CITY COUNCIL) RECOMMENDED ACTION — 1. APPROVE Public Risk Innovation, Solutions, and Management (PRISM) to renew the City's Cyber Liability, Excess Liability, and Excess Worker’s Compensation insurance policies for FY 2026/27, and to pay the FY 2025/26 workers compensation audit premium at an overall cost of not-to-exceed $3,099,700; and, — 2. APPROVE the City's insurance broker, Alliant Insurance Services, to renew All Risk Property, Auto Physical Damage, Inland Marine (Contractor Equipment), Parametric Earthquake, Crime, Fiduciary Liability, Aircraft (Drone) Liability, Storage Tank Liability, Special Event Liability and Volunteer Accident insurance policies for FY 2026/27 with incumbent carriers or other insurance companies that provide the best terms and pricing, at an overall cost of not-to-exceed $482,489; and, — 3. APPROVE California Transit Indemnity Pool (CalTIP) to renew the City’s Transit Liability Insurance for the FY 2026/27 term at a premium of not-to-exceed $150,000.