HomeMy WebLinkAbout~Master - Renewal for Excess Workers' Compensation Insurance RESOLUTION NO. 24-359
RESOLUTION APPROVING RENEWAL FOR
EXCESS WORKERS' COMPENSATION INSURANCE
FOR THE HUMAN RESOURCES DEPARTMENT, CITY OF AMES, IOWA
WHEREAS, the City began purchasing Excess Workers' Compensation Insurance
coverage brokered by Holmes Murphy & Associates on July 1, 2010, to reduce the financial risk
of catastrophic self-insured worker's compensation claims. This coverage limits the City's
financial exposure for self-insured worker's compensation claims(including police and firefighter
Chapter 411 injury disability claims) to a maximum dollar amount per individual claim.
IT IS THEREFORE RESOLVED by the City Council of the City of Ames, Iowa, as
follows:
Section 1: Renewal is made as follows:
Guaranteed premium from Holmes Murphy&Associates of Waukee,Iowa, for FY
2024/25 coverage with Midwest Employers Casualty Company of Chesterfield,
Missouri, for excess workers' compensation insurance at a renewal premium of
$144,014.
Section 2: The City Manager and City Clerk are authorized to execute said contract for
and on behalf of the City of Ames, Iowa, and to affix the corporate seal of the City thereto.
Section 3: All resolutions or orders or parts thereof in conflict herewith are hereby
repealed to the extent of such conflict.
ADOPTED THIS 25th day of June, 2024.
Renee Nall, City Clerk John A. Haila, Mayor
Introduced by: Betcher
Seconded by: Junck
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Rollins
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 25th day of June, 2024.