Recommendation to authorize City Manager, or designee, to purchase, through Alliant Insurance Services, a Self-Insured Retention buy-down at a premium not to exceed $831,000, for the period of July 15, 2020 to July 1, 2021.  (Citywide)
Okay. So the next item, I believe, is the number 22. Report from Human Resources recommendation to authorize to purchase a self-insured retention buy down at a premium not to exceed 831,000 citywide. Is there a motive? Council member communities moved their second moves that they heard. Richard. Thank you. We will go to. And we get a brief staff report on this and then we'll go to Councilmember Pearce. Yes. A very brief staff report. Good evening, Mayor and city council members. The Human Resources Department is requesting City Council approval to purchase access liability insurance coverage with a self-insured retention of 7.5 million for a premium not to exceed 831,000. The city annually purchases excess municipal liability to cover exposures arising from city operations. Coverage is to be obtained through the city's casualty broker record of life insurance services. On June 23rd, 2020, the City Council approved the purchase of this year's policy for accessing municipal liability insurance with coverage limits of 40 million excess of a $10 million self-insured retention for all city departments, including the police department. Last year, due to historical claims, frequency and severity, the city's self-insured retention was increased to 10 million, the highest it had ever been this year. Early in the insurance renewal discussions, the city did not appear to be eligible for lowering the self-insured retention back down to 7.5 million. City risk management staff worked with the city's broker or insurance services to secure an option to buy down the current 10 million self-insured retention to 7.5 million. Self-insured retention through decisions against local government are trending towards larger amounts and are more, more and more likely to exceed 7.5 million. The City Attorney's Office, the Financial Management Department and the Human Resources Department all support this insurance change as a as an approach to better manage the Liability Insurance Fund and its financial status. Staff is available to answer any questions related to this request. Thank you for that report. Council Member Richard, I'm sorry. Pearce No questions. Just great job stuff. I know you guys worked hard to get to this point. Council member interested? Nope. Okay. Let's call for the vote. District one. Hi. District two. I'm sorry. I'm sorry. Was there public comment? There's no public comment on this item. Okay. District three. I. District four. All right. District five. I. District seven. I. District eight. II. District nine. I know she cares. Our next item is item number 23.