City Council

Item No. 17. 2024-0425 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 2024/25 (CITY COUNCIL)\nRecommendation: TAKE the following actions:\n1. APPROVE PRISM's GL1 Program to provide coverage for the\nCity's Excess Liability Insurance for FY 2024/25, at an overall\nnot-to-exceed cost of $1,495,000.\n2. APPROVE PRISM to provide coverage for the City's Excess\nWorkers' Compensation Insurance for FY 2024/25, at an overall\nnot-to-exceed cost of $252,000, PLUS estimated FY 2023/24\naudit premium of $27,000.\n3. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place all risk property insurance through the Alliant\nProperty Insurance Program ("APIP"), including terrorism, flood,\nand pollution, for FY 2024/25, at an overall not-to -exceed cost of\n$347,000.\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\n2024/25, at an overall not-to -exceed cost of $18,000.\n5. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Parametric Earthquake coverage for FY\n2024/25, at an overall not-to -exceed cost of $6,503.\n6. APPROVE PRISM to provide Cyber Liability Insurance for FY\n2024/25, at an overall not-to -exceed cost of $35,000.\n7. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Volunteer Accident Insurance with The Hartford\nInsurance Company for FY 2024/25, at an annual premium of\n$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 2024/25, at an overall not-to\n-exceed cost of $1,887.\n9. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Alliant Crime Insurance Program (ACIP) to\nprovide the city's crime coverage for FY 2024/25, at an overall\nnot-to -exceed cost of $3,607.\n10. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Storage Tank Liability Insurance with ACE\nAmerican Insurance Company for FY 2024/25, at an annual\npremium of $2,221.\n11. APPROVE the City's insurance broker, Alliant Insurance\nServices, to place Fiduciary Liability coverage with Hudson\nInsurance Company for FY 2024/25, at an annual premium of\n$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 2024/25, at an annual\nnot-to-exceed premium of $15,000.\nAttachments: 2023-2024 City of Carson Schedule of Coverages.pdf