DEPARTMENT MAKING REQUEST
Budget & Admin Services
Title
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25-664, Approve, Property and Casualty Insurance Coverage (Risk Management)
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
Approve Contract #25-664, Property and Casualty Insurance Coverage with the Various Carriers specified on the attached evaluation in the amount of $7,424,981, for the term of October 1, 2025, through and including, September 30, 2026.
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budget
Budgeted Action:
No action needed. Budgeted in the Risk Management Fund - Self Insurance Budget as a part of the FY26 budget process. Funding for this expenditure comes from Self Insurance premiums.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
This is an annual contract for the comprehensive self-insurance program which covers Workers’ Compensation, Property, and various liability exposures for 2025-2026 (FY26) coverages. Attached is a proposal listing coverages, self-insured retention limits, policy limits, and premiums, along with recommendation by Risk Management.
The total expected premiums for the Risk Management Insurance program for FY26 is $7,424,981 compared to $7,118,904, an increase of $306,078 or 4%.
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