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O C T 2 3 1990 <br />REVIEW OF ANNUAL SERVICE AGREEMENT W/INSURANCE SERVICING & <br />ADJUSTING COMPANY <br />The Board reviewed memo from Risk Manager Beth Jordan: <br />TO: James E. Chandler, County Administrator <br />THRU:. Jack Price, Personnel Director 94_0-� <br />FROM: Beth Jordan, Risk Manager <br />DATE: 12 October 1990 <br />SUBJECT: Request for Agenda Consideration; Renewal of Annual <br />Service Agreement with Insurance Servicing & Adjusting <br />Company <br />Please consider -the attached annual agreement at the October 23, <br />1990, Board meeting. <br />Background <br />Following a Request for Proposals prepared by Siver Insurance <br />Management Consultants, the County entered into an agreement with <br />Insurance Servicing & Adjusting Company (ISAC) effective November <br />1, 1989. <br />Analysis <br />To date, the contractual relationship between ISAC and the County <br />. has been beneficial. As third party claims administrator, ISAC has <br />efficiently and fairly adjusted workers' compensation, automobile <br />liability and general liability claims. Communication with County <br />Risk Management staff has been outstanding. <br />The proposed renewal's terms and conditions are identical to the <br />previous Service Agreement with the following exceptions: <br />1. Workers' compensation fees will be reduced from three <br />percent (3%) of earned standard premium to two and one-half percent <br />(2.5$). Despite increased payroll, the recently amended Florida <br />Workers' Compensation law with its twenty-five percent (25%) rate <br />reduction has resulted in a projected annual -cost of $42,073.00, <br />an increase of only $73.00 from 1989-90. <br />2. General liability fees will be increased from $200.00 <br />per claim to $210.00, for a projected annual cost of $5,250.00. <br />1 <br />3. Automobile liability fees- will be increased from <br />$225.00 per claim to $236.00, for a projected annual cost of <br />$7,080.00. <br />Despite some increase in fees, however, we project overall annual <br />savings over 1989-90 projected costs due to a decrease in claims. <br />Recommendation <br />Staff recommends the Board approve and the Chairman execute the <br />annual Service Agreement with ISAC at an estimated annual cost of <br />$54,403.00, or a savings of $2,772.00 over 1989-90 costs. <br />M. <br />