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SUBJECT: CITY OF LOUISVILLE 2013 INSURANCE RENEWAL <br />DATE: JANUARY 22, 2013 <br />PAGE2OF3 <br />from 2012, a difference of $21,002 (see attached Final Program Comparison of <br />2012 vs. 2013 Renewal). <br />FISCAL IMPACT: <br />For 2013, the budget appropriated for property and casualty coverage is $369,380. The <br />premium for 2013 for this line of coverage is $348,211. After premium is paid, there will <br />be an available budget remaining of $21,169. <br />Including all funds and departments, the City appropriated a total of $124,800 for <br />Workers Compensation coverage. Pinnacol (Workers Compensation Coverage) has <br />quoted the City $126,185 which includes enrollment in the Loss Control Dividend Plan. <br />The Loss Control Dividend Plan has the potential to return a dividend to the City of up to <br />$30,000 assuming the City’s Experience Modifier remains at the low level it has <br />maintained over the past 3 years. Thus staff supports the increase over budget for <br />Workers Compensation Coverage of $1,385. <br />RECOMMENDATION: <br />Staff recommends that City Council approve the 2013 premiums as listed below: <br />Traveler’s (Property and Liability Coverage) $348,211 <br />Pinnacol (Workers Compensation Coverage) $126,185 <br />The Finance Committee will be reviewing the recommendation and documentation at <br />the January 22, 2013 Finance Committee. <br />ATTACHMENT(S): 1) Final Program Comparison of 2012 vs. 2013 Renewal and 2) <br />Loss Control Dividend Plan Proposal for Workers Compensation Coverage with <br />Pinnacol Assurance <br />CITY COUNCIL COMMUNICATION <br />7 <br />