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Home My WebLink AboutResolution - 2021-R0336 - Workers' Compensation Coverage from TML Risk Pool 9.14.21Resolution No. 2021-R0336 Item No. 7.17 September 14, 2021 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City Manager of the City of Lubbock is hereby authorized and directed to purchase for and on behalf of the City of Lubbock, workers' compensation coverage from the Texas Municipal League Intergovernmental Risk Pool, for a total amount not to exceed $1,619,534.66; and THAT the City Manager may execute any routine documents and forms associated with said coverage. Passed by the City Council this September 14, 2021 to---� DANIEL M. POPE, MAYOR ATTEST: Re ca Garza, City S"ry - "R- ;i� u Ko telich, Chief Financial Officer APPROVED AS TO FORM: J s ll, Deputy City Attorney RES.Risk Mgmt-Municipal League Risk Pool September 1, 2021 Resolution No. 2021-R0336 Workers' Compensation Insurance Company: Texas Municipal League Policy Term: 10/01/2021 to 10/01/2022 Coverage: Part One — Workers' Compensation agrees to pay the benefits required under the applicable State's Workers' Compensation Law. Part Two — Employers Liability for work -related injuries or disease other than that which is imposed by a state Workers' Compensation Law. Part Three — Other States. States in which you have no exposure on the policy inception date, but in which you may have a temporary or future worksite or exposure in during the policy term. If listed, statutory benefits will apply as if the state were listed in Part One. Coverage• Employers Liability - Each Accident $1,000,000 Employers Liability - Disease (Policy Limit) $1,000,000 1 Employers Liability - Disease (Each Employee) $1,000,000 Experience Mod 0.50 Statutory Limits Apply _ Yes Deductible $25,000 Coverage is not automatic in all states. Please notify us immediately if you begin operations in another state. • Total Premium $847,265 • 2% Paid in Full Discount: ($16,945) • Premium Including Discount: $830,320 • Average Out of Pocket at $25,000 deductible is: $781,000 This requires $100,000 deposit in addition to the $830,320 premium. The deposit will be credited as deductible is applied. Total Due at Binding: $930,320 6mo Short Term Option to 04101/2022: • Total Premium $422,508 • 2% Paid in Full Discount Credit applies • Premium Including Discount: $414,058 This requires $100,000 deposit in addition to the $414,058 premium. The deposit will be credited as deductible is applied. Total Due at Binding: $514,058 Workers' Compensation Schedule of Exposures State: TX 7539 8810 0011 4299 4511 4519 5190 5191 5506 5507 5651 6306 7423 7520 7580 7590 7704 7720 8107 8292 8391 8601 8742 8743 8831 8833 8838 9014 9015 9016 9079 9101 9102 9154 9220 Experience Modifier: 0.50 Electric Light Or Power Co Noc--all Employees & Drivers Clerical Office Employees NOC Farm: Noc & Drivers Printing - Copying & Duplicating Service Analytical Chemist Exterminator & Drivers Traffic Signal Control Installation & Drivers Computer Device Install, Sery Street Or Road Construction: Paving Or Repaving & Drivers Street & Road Construction Laborer (Code Enforcement) Sewer Construction Airport Operations Waterworks Operations & Drivers Sewage Disposal Plant Operation & Drivers Garbage Works Firefighters & Drivers l Police Officers & Drivers Heavy Equipment Maintenance Warehouseman/Loader 1 Automobile Garage Engineer OrArchitect Elected & Appointed Officials Computer Programmer Animal Shelter & Drivers Hospital: Professional Employees & Clerical Public Library/museum: professional Employees & Clerical Lawn Maintenance Buildings --operations By Owner Or Lessee Auditoriums & Zoos rt Restaurant — NOC Library/Museum, All Other Park Noc--all Employees & Drivers Theatres — Box Office, etc. Cemetery Operation & Drivers $13,898,945 $27,858,047 $59,435 — $57,783 $1,819,966 $174,227 $1,133,779 $1,941,144 $3,859,318 $190,341 $31,841 $3,367 $752,829 $8,154,809 $324,486 $369,295 $34,256,728 $35,909,933 $793,145 $95,079 $119,053 $305,800 $54,742 $125,434 $613,330 $1,506,081 $1,658,907 $48,567 $1,019,031 $158,645 $6,846 $41,866 $2,700,790 $94,363 $131,284 9402 Street Cleaning & Drivers 9404 Refuse Collection & Disposal 1 9409 Municipal Employees 37420 Outside Volunteers 87421 Inside Volunteers Total Manual Contribution Experience Modifier (0.50) Fund Discount (20%) Paid in Full Discount (2%) Deductible Credit Audit Provisions Audit based on Payroll TOTAL PAYROLL: $97,781 $95,835 $171,003 $2,900 $1,450 $141,020,994 $5,266,442.00 ($2,633,221.00) ($526,644.00) ($16,945.00) ($1,259,312.00) icluding Premium $830,320.00 Loss Fund Deposi.t:$100,000.00 $930,320 Premiums are calculated based on the insurance company's rules and rates. Premiums shown as advance or deposit premiums are subject to audit and adjustment at the close of each audit period. If the advance premium is less than the earned premium as determined by the audit, the insured pays the difference. If the advance premium is more than the earned premium as determined by the audit, the insurance company returns the difference to the insured. The insured must keep records of the information needed for the audit and the premium calculations and send copies to the insurance company when it requests them. Excluded coverage or other coverages sought may be available: please discuss with USI Other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms, conditions, limitations, exclusions and sublimits that will govern in the event of a loss.