9/27/1988 - Laserfiche WebLink

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RENEWAL OF PRESENT INSURANCE COVERAGE OR CONSIDERATION OF GALLAGHER BASSETT LONDON PACKAGE Acting Administrator Bill Collins explained that because of the short timeframes between requests for proposals and renewal dates, it was felt that it just was not appropriate to try and squeeze all the review into a short period of time and at the meeting of August 23rd, staff was given the direction by the Board that present coverages be renewed with prices to be negotiated. Administrator Collins advised that Susan Tillman, the new Risk.Manager, has prepared some alternatives to consider, and after he has summarized them briefly, Mrs. Tillman will respond to any .questions. Commissioner Eggert asked why we were taking bids if we were going to renew, and Administrator Collins felt that it is a question of interpretation of the direction given staff at the August 23rd meeting. He felt that if we are renewing with present -carriers, then we are just negotiating prices with them; but if we are renewing coverages and negotiating prices and looking for better coverages, that is.a different matter. Assuming that we are staying with the coverages we have, he still felt that there is some benefit to be gained by discussing the alternatives and some of the implications as far as going self insured. Administrator Collins doubted that we could go self-insured on a couple of day's notice, but felt that is the direction we are talking about. Briefly summarizing the issue, Administrator Collins advised that if we renew our present coverage, we are looking at premiums of $1.1 million. Mrs. Tillman is recommending that the Board consider an alternate package which would cost $638,000, and under that package we essentially would be paying for claims handling, legal coverage and umbrella coverage for catastrophic loss. We would be partially self-insured to the extent that the County would pay for claims up to $100,000. EP 2,? 1988 19 � �ooK