The URL can be used to link to this page

Home My WebLink About~Master - Contract for 2013/14 liability insurance RESOLUTION NO. 13-310 RESOLUTION APPROVING RENEWAL OF CASUALTY AND LIABILITY INSURANCE FOR FY 2013/14 FOR THE CITY OF AMES,IOWA WHEREAS,the City's casualty and liability coverage insurance policy expires on June 30, 2013, and this coverage has been placed with the Iowa Communities Assurance Pool(ICAP) since July 1, 2004; and, WHEREAS, ICAP is a member-funded group insurance pool that provides property and casualty coverage to over 600 Iowa public entities,and every ICAP member has equity that increases through the first six years of membership, at which point the member is 100%vested and becomes eligible for an annual surplus distribution; and, WHEREAS, with last year's (FY 2012/13) renewal, the City of Ames had seven years in ICAP's program,and last October,we received the third of three checks for approximately$70,000, which was used to offset premium costs that are allocated to City departments; and, WHEREAS,the following coverages are provided by ICAP: General Liability;Automobile Liability; Automobile Physical Damage for the Bookmobile; Transit Liability (CyRide); Public Officials; Law Enforcement Professional Liability; Fidelity(Employee Theft) Bond; and, WHEREAS, staff did not seek alternatives to this program for FY 2013/14, and the relationship with ICAP continues to be solid and the City has been receiving quality claims and loss control services; and, WHEREAS, the only major ICAP coverage change was last year(FY 2012/13)which was the elimination of property coverage for the Ice Arena, moving it to the main property insurance program insured by Chubb Group beginning July 1, 2012; and, WHEREAS, staff did not seek alternatives to this program for FY 2013/14, as the relationship with ICAP continues to be solid and the City has been receiving quality claims and loss control services; and, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the renewal of casualty and liability insurance for FY 2013/14 with the Iowa Communities Assurance Pool (ICAP) in the net amount of$471,377 is hereby approved. ADOPTED THIS 25th day of June, 2013. /U �al i�� C��J y1a - /&. y. Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Goodman Seconded by: Szopinski Voting aye: Davis, Goodman, Larson, Szopinski, Wacha Voting nay: None Absent: Orazem Resolution declared adopted and signed by the Mayor this 25t'day of June, 2013.