10/17/1989 - Laserfiche WebLink

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$971,000 was estimated for a fully insured premium, and we went with a $638,000 premium for a layer coverage, leaving $300,000 which was put in a trust fund for losses. Our losses for last year are less than $100,000 at this point. If no other claims are filed against this year, that $200,000 would remain in the trust fund and continue to grow so that hopefully one day we will ?o longer have to contribute annual appropriations to the self- -insurance fund. Jim Granse, 36 Pine Arbor Lane, explained that being a retiree from an insurance firm in Michigan, he is very familiar with self insurance risk programs, but is very worried about the risk coverage the County would need to carry on McKee Jungle Gardens if the referendum passes in November and the County goes ahead and purchases and operates those Gardens as a park. He was also concerned about the two pieces of property where the libraries are going in. Commissioner Bird hoped that in any situation such as that we would place the burden of insurance coverage on the leasee, and that includes McKee Jungle Gardens Preservation Society. Administrator Chandler pointed out that before any negotiation reaches that stage and is brought to the Board, staff will have analyzed all of the risk factors. Mr. Granse just felt it should be on the record at this point in time that some consideration should be given to the liability insurance costs that will be paid by the taxpayers if the County maintains and operates the park instead of the Preservation Society. Glen Toby of Arthur J. Gallagher &Company wished to make a few comments on the proposal before the Board today. He wasn't sure exactly what the consultant had recommended as he did not have a copy of the written recommendation that was provided to the Board. He did hear that there is an increased assumption of risk in this proposal with the County moving to $500,000 of Auto OCT 4 51 BOOK 16 FACE 200