City of Earlham
Presentation by Lauren Volz of United Risk Services, LLC on the insurance review and renewal for the City of Earlham covering commercial property, liability, optional coverage enhancements, premiums, workers' compensation, and more.
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Presentation Transcript
City of Earlham 2020-2021 INSURANCE REVIEW AND RENEWAL FEBRUARY 10,2020 PRESENTED BY LAUREN VOLZ UNITED RISK SERVICES, LLC.
2019-2020 2020-2021 Commercial Property: Total Property Building, BPP, Property in the open: $5,787,356 $5,927,408 Total Property Premium: $10,883.00 $13,750.00 The IAMU Safety Group in general has incurred large storm losses (2017 hail event as example) which has resulted in an overall Property premium increase. Commercial General Liability: Total Policy Premium including Terrorism $4,645.00 $5,721.00 New optional coverage enhancements (included in proposal) 2020-2021 renewal: 1. Pollution Exclusion Limited Exception for Pools-$250,000/$1,000,000: 2. Ltd. Exception for Water/Wastewater Treatment Plants-$250,000/$1,000,000: 3. Municipal Violent Event Response Coverage: $150.00 $150.00 $525.00 You can pick and choose optional coverage endorsements.
2019-2020 2020-2021 Linebacker premium: $2,452.00 $2,829.00 Commercial Law Enforcement premium: $860.00 $1,035.00 Crime & Fidelity premium: $177.00 $177.00 Inland Marine premium: $226.00 $226.00 Commercial Umbrella premium: $3,810.00 $3,977.00
2019-2020 2020-2021 Business Auto: Premium: $11,645.00 $13,977.00 Workers Compensation: Estimated Premium : (subject to audit) $12,198.00 $11,206.00 2018-19 audit resulted in a net additional premium of $822.00 NCCI rating error resulted in a return of premium of $269.00 CFC Cyber: As of 02/07/2020 we had not received a formal quote from CFC Underwriters. $1,000 Est. $1,100 Premium is an estimate subject to change.
Summary of Paid Losses Loss Summary Report : 2017-2020 Property Business Auto Liability Workers Compensation Total losses paid 2017 - 2020: $281,766.00 $41,427.00 $5,722.00 $246.00 $329,161.00 See attached Loss Summary Report . Claim details are subject to compliance with state/federal laws and regulations regarding privacy. **Direct ALL CLAIMS directly to office or my cell phone ** Office: 515-523-1582 or Toll Free: 1-866-680-1582 Cell: 515-205-8731
Premium Summary 2019-2020 2020-2021 Total EMC Premium: CFC Cyber Liability Premium: Total Insurance Package Premium: $46,896.00 $1,000.00 $47,896.00 $52,898.00 Est. $1,100 $53,998.00
IAMU Safety Group Dividend 37th year of the IAMU Safety Group Program April 1, 2017 to March 31, 2018 experience period. Based on the Package property casualty and Workers Compensation loss experience of the Safety Group Program members. 2012 Dividend: 2013 Dividend: 2014 Dividend: 2015 Dividend: 2016 Dividend: 2017 Dividend: 2018 Dividend: 2019 Dividend: $2,228.00 $1,356.00 $1,766.00 $2,040.19 $2,585.61 $4406.50 $7,966.55 $5,725.34 8 year IAMU Safety Group return of premium: $28,074.19
Important Information IAMU Contractor Insurance Requirements: See attached documentation. Have legal council incorporate into applicable applications/contracts. Iowa Code, Chapter 670 Tort Liability of Governmental Subdivisions: Review and incorporate into applicable applications/contracts. Included as #7 above. Attorney Connect Program: 800-820-6490. attorneyconnect@bradshawlaw.com This information is for the protection of the City and tax payer. If you have any questions regarding this information please do not hesitate to contact me for assistance. Lauren Volz United Risk Services, LLC 122 NW 2ndSt., PO Box 250 Stuart, IA 50250 515-523-1582 1-866-680-1582
