|
Back to Calendar
Return
|
| |
County Administrator's Report 7. 18.
|
| BCC Regular Meeting |
Budget & Finance Consent |
|
|
|
| RECOMMENDATION: |
Recommendation Concerning Public Officials Liability - Mark Bartlett, Manager, Risk Management Office/Jana Still, Human Resources Department Director
That the Board approve the payment to USI Insurance Services, LLC, in the amount of $49,612, for Public Officials Liability written through Chubb Group of Insurance Companies (ACE American Insurance Company) for the period of November 1, 2020, through September 30, 2021, with a $75,000 deductible.
| Vendor |
Funding |
Amount |
USI Insurance Services, LLC
Public Officials Liability |
Fund 501, Internal Service Fund, Cost Center 140835, Object Code 54501 |
$49,612 |
[Funding: Fund 501, Internal Service, Cost Center 140835, Object Code 54501] |
| BACKGROUND: |
In conjunction with our broker, USI, we solicited 24 insurance companies and only 3 responded. We selected the policy that covered the most with the least amount of exclusions and provided as the most cost efficient option. We are currently working with Chubb to better define the policy and its exclusions along with providing examples to ensure all parties have full understanding of the coverage.
Liability claims against municipalities have mushroomed in recent years. Public Officials Liability is the liability exposure faced by a public official from "wrongful acts," defined under public officials’ liability insurance policies as actual or alleged errors, omissions, misstatements, negligence, or breach of duty in his or her capacity as a public official or employee of the public entity. Transfer of this risk to an insurer is one of the most effective and efficient risk management techniques available to a public entity.
The recommended Public Official’s Liability policy covers actions that result in monetary loss but not bodily injury or property damage. Examples include zoning and hiring decisions. Employment practices are a significant source of Public Official’s Liability claims. The recommended policy has a very broad definition of insured. The entity, elected and appointed officers, employees, members of boards and committees, and volunteers are afforded coverage under this insurance policy.
|
| BUDGETARY IMPACT: |
| Funding: Fund 501, Internal Service, Cost Center 140835, Object Code 54501 |
| LEGAL CONSIDERATIONS/SIGN-OFF: |
| N/A |
| PERSONNEL: |
| Risk Management will be the contract administrator. |
| POLICY/REQUIREMENT FOR BOARD ACTION: |
| County Ordinance, Chapter 46, Article II, Section 46-64, providing for Board approval of contracts of fifty thousand dollars ($50,000.00). |
| IMPLEMENTATION/COORDINATION: |
| Upon approval by the Board of County Commissioners purchase orders will be issued by the Purchasing Office to provide payment for services rendered from the contract. |
|
|
|
|