CC Resolution 13171 - Agreement with Midwest Employers' Casualty Company Liability Coverage FY 2024/25 RESOLUTION NO. 13171
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
APPROVING AN AGREEMENT AND AUTHORIZING THE CITY MANAGER
TO EXECUTE AN AGREEMENT WITH MIDWEST EMPLOYERS' CASUALTY
COMPANY TO PROVIDE EXCESS WORKERS' COMPENSATION LIABILITY
COVERAGE FOR FISCAL YEAR 2024-2025
WHEREAS, The City's Insurance Broker solicited quotes on behalf of the City for
Excess Workers' Compensation Insurance Coverage; and
WHEREAS, the City received a renewal quote to bind coverage from Midwest
Employers Casualty Company for the term of July 1, 2024, to June 30, 2025, for
a premium amount of $131,198; and
WHEREAS, the City's Insurance Broker recommends binding the City's Excess
Worker's Compensation Insurance Coverage with Midwest Employers Casualty
Company for a one-year term from July 1, 2024, to June 30, 2025, for the quoted
amount of $131,198.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Campbell does hereby approve an agreement and authorizes the City Manager
to execute an agreement with Midwest Employers Casualty Company to provide
the City with Excess Workers' Compensation Insurance Coverage for one-year,
effective July 1, 2024, through June 30, 2025, for a premium of $131,198.
PASSED AND ADOPTED this 18th day of June, 2024 by the following roll call
vote:
AYES: Councilmembers: Bybee, Furtado, Scozzola, Lopez, Landry
NOES: Councilmembers: None
ABSENT: Councilmembers: None
APPROVED:
Susan M. Landry, Mayor
ATTEST:
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Andrea Sanders, City Clerk
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Business Insurance Consulting
and Brokerage Services
City of Campbell
July 1, 2024 to July 1, 2025
Presented by:Tammie Stamp
CA License #0 D22397
Leavitt—Pacific Insurance Brokers
CA License #0D79674
A member of the Leavitt Group
Indemnity Coverage Provided:
Specific Excess Workers' Compensation and Employers Liability Indemnity
Insurance Company: Midwest Employers Casualty Co. —A.M. Best: A++ XV
Policy Period: 7/1/24 to 7/1/25
Annual
Rate
Employer's Deposit per
Limit of Liability Self-Insured and $100 of
Liability Sub-Limit Retention Minimum Payroll
$25,000,000 $1,000,000 $1,000,000 $131,198 0.4808
$118,078
Terms and Conditions
1) The premium is based on an estimated annual remuneration of$27,287,413.
2) State of operations: California
3) Midwest Employers Casualty Co. quotes are subject to their policy form and the following endorsements:
CMB-11 Amendment to Schedule Item 11, CMB-160 Foreign, CMB-199-CA Policyholder Disclosure Notice
of Terrorism Insurance, ISI-254-EXC Aircraft Exclusion, ISI-260 Authorized Volunteers,
ISI-261 Voluntary Compensation, ISI-266 Endemic Disease and Repatriation.
ISI-CA (02-21) California Mandatory Endorsement CMB-6-CLS Amendment to Schedule Item 6
(applies to split retention quote).
In order to bind coverage,we will need a written request by 6/25/24.
Total Premium due for the 2024 to 2025 policy term: $131,198.