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SUBJECT: <br />CITY OF LOUISVILLE 2020 INSURANCE RENEWAL <br />DATE: <br />FEBRUARY 18, 2020 <br />PAGE2OF2 <br />Staff also worked with Innovise to increase our cyber and social engineering coverage <br />from $100,000 to $500,000. <br />Worker's Compensation: The Human Resources staff manages the workers <br />compensation policy and employee claims and continues to be pleased with the <br />resources, guidance, and information provided by Pinnacol Assurance over the past <br />year. Flood and Peterson provided a quote for Worker's Compensation coverage from <br />Pinnacol Assurance for the 2020 plan year which came in at $175,102. <br />FISCAL IMPACT: <br />Item <br />2020 Budget <br />2020 Actual <br />Under <br />Budget/(Budget <br />shortfall) <br />Property and <br />Casualty <br />$482,560 <br />$491,371 <br />$(8,811) <br />Worker's Comp <br />$200,410 <br />$175,102 <br />$25,308 <br />Total — all lines of <br />coverage <br />$682,970 <br />$666,473 <br />$16,497 <br />For all lines of coverage, the City has a 10% increase in insurance premium for 2020. <br />The City is $16,497 under budget for 2020. <br />Attachment: <br />1. Program Comparison <br />CITY COUNCIL COMMUNICATION <br />11 <br />