Title
Resolution to Approve May 23, 2019 Recommendations of the Board of Insurance Administration and Approve Related Agreement
Memorandum
This resolution is submitted for City Council's approval of the Board of Insurance Administration recommendations at its meeting on May 23, 2019, which was held for the purpose of determining pending claims against the City, conducting other business and making recommendations to City Council.
Budget: The funds requested by this resolution are available in the FY2020 Risk Fund budget.
Staff
Prepared by: Sarah Singleton, Risk Specialist
Reviewed by: Matthew Horning, City Treasurer
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, The Board of Insurance Administration recommends approval of the attached CompOne Third Party Administration renewal contract for 2 years based on a per claim fee of $900.00 per indemnity claim, $350.00 per advanced medical claim, $155.00 per medical only claim, and an annual administration fee of $5,000.00 with an estimated annual claim fee of $21,780.00; and
Whereas, The Board of Insurance Administration recommends approval of a two year renewal agreement for excess workers' compensation coverage from Midwest Employers' Casualty at a rate of $0.11910 per $100.00 of payroll for an estimated annual premium of $357,949.00.
RESOLVED, That as recommended by the Board of Insurance Administration, the City Council approve the attached contract with CompOne for worker's compensation claims services from July 1, 2019 through June 30, 2021, at an estimated annual fee of $21,780.00 to be expendable from the Risk Fund;
RESOLVED, That the Mayor and City Clerk be authorized and directed to execute said contract after approval as to substance by the City Administrator and approval as to form by the City Attorney;
RESOLVED, That the City Council authorize expenditure of a ten percent (10%) contingency for the CompOne contract, subject to both availability in the Risk Fund and City Adminis...
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