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4.2. SR 09-26-1994 I ~\.( ( II IIi{ River ITEM 4.2. MEMORANDUM TO: FROM: MAYOR & CITY COUNCIL _ C \ LORI JOHNSON, FINANCE DIRECTOR -tt(j~J SEPTEMBER 20, 1994 DATE: SUBJECT: CITY PROPERTY LIABILITY AND WORKERS' COMPENSATION INSURANCE RENEWAL . The City's (including Elk River Municipal Utilities) workers' compensation, property, liability, and miscellaneous insurance policies come due on October 1. The City currently has coverage with the League of Minnesota Cities Insurance Trust. This year, the City solicited bids from the League of Minnesota Cities Marinco, Penco, and Titian. All of the companies declined to quote with the exception of the League of Minnesota Cities. The other companies declined because of the competitive price of the League's program and the fact that they would not cover all of the items that the League would cover. Dan Greene of First National Insurance Agency works on the City's behalf in soliciting bids from the various companies. Each year he contacts all providers who write municipal insurance in the State of Minnesota. However, because of the strength and price competitiveness of the League's program, very few other companies write municipal insurance in Minnesota. The attached information was provided by Dan Greene. The information outlines the upcoming contract. There are basically two contracts to be discussed. The first covers property, liability, boiler and machinery, and other miscellaneous coverage and the second addresses the City's workers' compensation insurance. This year there are also several decisions which the Council will be asked to make regarding insurance. Some of those are decisions which must be made prior to the renewal on October 1 and some of the decisions can be made any time during the contract year. PROPERTY. LIABILITY. AND OTHER INSURANCE . The first page of the handout details each type of coverage and the associated premium. As you can see, the City's premium is going to increase from $159,763 to $193,968. Of course, a portion of this is for coverage for the Municipal Utilities and is reimbursed to the City by the Utilities. The premium overall increased 21.4 percent. Part of this increase is due to an increase in municipal liability insurance which is based on annual P.O. Box 490. 13065 Orono Parkway. Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 Insurance Renewal September 20, 1994 Page 2 . expenditures which increased over 20 percent. The automobile liability increased due to the increase in the number of vehicles. Part of the increase is also due to a rather large claim the Municipal Utilities incurred several years ago. Because the City of Elk River has been cooperative and timely in working with the League's Loss Control Department and has responded to all of the League's requests regarding insurance issues, the City received a 25 percent premium discount. In addition, the City has contacted the League of various occasions asking for advice and training in helping to decrease the number of employee injuries and the number of claims submitted by the City. Obviously the time spent working with the League on the loss control program has paid off substantially. Had the City not been ranked at the top for cooperation and responsiveness, our premium would have increased an additional 25 percent. . There are two optional quotes listed at the bottom of the first page. The first is for Petro Fund reimbursement and the second is for Open Meeting Law coverage. The Petro reimbursement covers any amount that the Super Fund would not cover if we were to incur clean up costs due to leakage at a tank. The Open Meeting Law coverage will pay certain costs for claims when the Open Meeting Law was not intentionally violated. Dan will provide additional information to the Council on each of these programs at Monday's meeting. Page two gives a quote for excess liability coverage. Dan has recommended that the City Attorney review this item to see which situations would require excess liability coverage. Dan will also provide additional information on this coverage on Monday. WORKERS' COMPENSATION INSURANCE . The City submitted estimated payroll amounts to the League in order to determine the City's 1994-95 workers compensation premium. The estimated premium is $100,914. This includes a premium discount of $10,368. The City's experience modification factor is .89 which is down from .94 last year and down from over 1.04 several years ago. As you can see, the City at this point has not claimed a credit for managed care or a deductible. Currently I am reviewing managed care options which would provide an additional 5 percent ($5,550) credit. This simply means that the employer selects one of three managed care companies to handle all workers compensation claims. Those companies include Medica, Blue Cross/Blue Shield and Group Health. I am suggesting that the City begin a managed care program effective with renewal on October 1. Mork Clinic and several other specialty practices such as physical therapy located in Elk River are covered by the managed care provider. It is highly likely that most of our injuries will occur in the City of Elk River; therefore, we can take advantage of a 5 percent discount without causing any inconvenience to our employees. If the Council authorizes the implementation of a managed care program, employee meetings will be held Insurance Renewal September 20, 1994 Page 3 . in order to inform both the City and Utility employees of the appropriate steps to take if a work related injury occurs. This premium notice also does not include a deductible credit. Page 4 of the handout shows that if the City has a deductible per occurrence of $250, the City would save $2,226. The deductible per occurrence increases all the way up to $10,000 where the City's savings would be $18,918. On Page 5 you will see some three year trend information showing the savings or loss that the City would have incurred over the last three years based on various deductible amounts. The City has not qualified for the deductible program in previous years; however, as you can see, savings would result from any of the various deductible programs. A $250 deductible would have saved $1,843 over the last three years. A $500 deductible would have saved $6,480. Most work comp claims that we have had recently have been at $250 or less. Therefore, going to the $500 deductible does not cost the City any additional amount on most of its claims. If the City Council approves a deductible, the City's deductibles would come from the City's self insurance fund. In discussing this item with the agent, it was felt that a $500 deductible may be appropriate for the 1994-95 contract year. After that time, the City may wish to increase the deductible depending upon the costs incurred. . Retrospective rating is another option available. This handout shows that the minimum premium for the 1994-95 contract year would be $58,868 and the maximum premium $144,667. This program cannot be taken in conjunction with a deductible program. The actual premium for each year is based on the claims incurred. Also, if an employee is injured and incurs costs five years after the injury due to a reoccurrence, those ongoing claims become part of that year's loss. Therefore, it is somewhat risky to participate in this program. However, as you can see on Page 5, the premiums would have been substantially less had the City elected the retrospective rating program. We did not select that program based on the City's experience modification. Since the modification was over 1, it was felt that the possibility of large claims or ongoing claims was too great in order to jeopardize the premiums. However, now that our modification factor is below .90, it is appropriate to explore this option. The final four pages of the handout give more information on both the retrospective rating program and the deductible program. SUMMARY . As I stated earlier, these policies cover not only the City but also the Elk River Municipal Utilities. In that regard, a letter has been sent to Bill Birrenkott regarding the renewal and the decisions the Council will be making which will also affect the Utilities. Dan Greene will be available Monday to discuss these items in detail. If you have any questions prior to Insurance Renewal September 20, 1994 Page 4 . the meeting, please feel free to contact either me or Dan at his office (441- 2500) or at his home (441-2697). In addition to approving the contracts on Monday, the Council is asked to make decisions regarding whether a managed care program should be implemented for workers compensation insurance and whether the deductible option, the retro rating option, or neither should be implemented. Staffs recommendation is that a managed care program begin October 1 and that a deductible of $500 be applied. Decisions which the Council can make now or at any time during the contract year include whether or not open meeting, excess liability, and Petro Fund reimbursement coverage should be obtained. . . . .-0_. , . . FIRST NATIONAL INSURANCE OF ELK RIVER 729 MAIN STRIOIOT. ElK RIVER. MINNESOTA S6330' (612)441-2600 . FAX (612) 441-3921 RENEWAL PREMIUMS FOR THE CITY OF Elk RIVER 1994/95 1993/94 PROPERTY - INCREASED FROM $15,435,611 LAST YEAR TO 20,434. 22,474 $17,119,829 THIS YEAR NON LICENSED MOBILE EQUIPMENT 2,996. 4,236 MUNICIPAL LIABILITY - INCLUDES ERRORS & OMMISSIONS 117~076. 85,531 (BASED ON EXPENDITURES) LAST YEAR - 12,300,000 THIS YEAR - 14.800.000 AUTO LiABILITY - NUMBER OF VEHICLES WENT FROM, 17,791. 13,187. 77 TO 84 AUTO PHYSICAL DAMAGE - COMPREHENSIVE & COLLISION 8,452. 8,475 CRIME - THEFT OF MONEY & SECURITIES 180 212 . EMP.LOYEE DISHONESTY BOND 1,425. 1,379 GLASS - CITY HALL & UTILITIES - EXCI.UDr.S LIBRARY 614 722 BOILER & MACHINERY - BREAKDOWN & EXPLOSION 25,000 23,552 10rAL ----------- $193,968. $159.763. OPTIONAL QUOTES PETROFUND REIMBURSEMENT - $697. , OPEN MEETING LAW - $1.756. MARINCO & PENCO & TITIAN DECLINED TO QUOTE BECAUSE OF PRICING & COVERAGCS IN 1993 THE CITY RECEIVED A DIVIDEND FROM LMCIT OF $10,900. IN 1992 THE CITY RECEIVED A DIVIDEND FROM LMCIT OF $33,061. SEE ATTACHED SHEET FOR WORKERS COMPENSATION QUOTE . i Business, Home. Auto. Life. Health,. Disability FROM: 8 Berkley Risk Services, Inc. 920 Second Avenlle South, Suite 700 \finneopofis. \linnesota 55.02-4023 (612) 376-4200 FAX (612) 376-4299 . JBJECT EXCESS LIABILITY QUOTATION FOR THE CITY OF: Elk.... R1'vc!2'- DATE Cj - I '-/--C\ Y FOLD- Dear ban: Liability Limit: $1,000,000. ~ 'Ii 2(\ lo3(o. 60 cJaL,\ "':J Annual Premium With Waiver of Immunity: Annual Premium Without Waiver of Immunity: Quotation Expires: Follow Form: Special Exclusions: Other Endorsements: RECEiVED SEP 1 61994 Ans'd Underlying Coverage as Scheduled Child Molestation . Remarks: An Election form must be completec signed, and returned to us before the effective date if coverage is desired. ;TE --rrorcL\~ OXOXo..., . .:l.. - League of Minnesota Cities Insurance Trust Group Self-Insured Workers' Compensation Plan Administrator Berkley Administrators . member of rho Berkley Risk Management Services Group P.O. Box 59143 Minneapolis. MN 55459-0143 Phone (612) 544-0311 . Self-Insured Workers' Comoensation Ouotation (RENEWAL of Agreement No. 02-000513-8) ELK RIVER, HOUSING & REDEVELOPMENT, ECONOMIC 10/01/1994 10/01/1995 . STREET CONSTRUCTION & MAINTENANCE WATERWORKS ELECTRIC & STEAM PLANT FIREFIGHTERS (VOLUNTEER) POLl CE OFF SALE LIQUOR STORE CITY SHOP & YARD CLERICAL PARKS MUNICIPAL EMPLOYEES ELECTED OR APPOINTED OFFICIALS CODE '5-r~""'e RATE 5506 :;;l1.9'1 7.47 7520 ~. 0'1 4.77 7539 10. (..j'1l 5.54 7708 9,.~~ 81.82 7720 '6,05 6.54 8017 ~.'(o 2.81 8227 ) I ' I i.. 5 . 72 8810 .yo 0.54 9102 5.G,'d 4.17 9410 .;:~S 2.31 9411 5.t's 2.31 EST! MA TED PAYROLL 137500. 45510. 472874. POP 15718. 786517. 164800. 68750. 652263. ' 68750. 283556. 25800. Manual Premium Experience Modification 0.89 Standard Premium Managed Care Credit 0% Deductible Credit 0% Premium Discount Discounted Standard Premium LMC Insurance Trust Discount 0% Net Deposit Premium DEPOS IT PREMIUM 10271 .c y ~ 2171 ::~/7- 26197.!j'lr". 12860.11/(..; . 51438';;:P1 4631.{jL.~/.t/ 3933'?&'/~ 3522 . ~ {.. t 2867.3, I c:; 6550 Ie O~ 596<~'5. 125036 .A&~5 1 i 1282./7<190 o. O. 10368.17<1~ 100914./5?ql o. 100914./5741 The foregoing quotation is for a deposit premium based on your estimate of'payroll. Your final actual premium will be computed after an audit of payroll subsequent to the close of your agreement year and will be subject to revisions in rates, payrolls and experience modification. While you are a member of the LMCIT Workers' Compensation Plan, you will be eligible to participate in distributions from the Trust based upon claims experience and earnings of the Trust. If you desire the coverage offered above, please complete the enclosed" Application for Coverage" and return it and your check for the deposit premium (made payable to the LMC Insurance Trust) to the Plan Administrator, Berkley Administrators. . BA 441eG (12/92) 3 ..............::;,.......... ......a .........___. _.____ .___ I IL-VL..o.I V l..U Group Self.lnsured Workers' Compensation Plan Administrator Berkley Administrators o mombo' of tho Berkley Risk Management Services Group P.O. Box 59143 Minneapolis.MN 55459-0143 Phone (612) 544-0311 AUGZ 2 1994' Ans'd NOTICE OF PREMIUM OPTIONS FOR SfANDARD PREMWMS OF $50.000 $150.000 . The 'City. Agreement No.:. Agreement Period: From: To: 02-000513-9 ELK RIVER, HOUSING & REDEVELOPMENT, ECONOMIC DEVELOPMENT AUTHORITY & LIBRARY BOARD PO BOX 490, 13065 ORONO PARKWAY ELK RIVER MN 55330-0490 Enclosed is a quotation for workers' compensation deposit premium. Deductible options are now available in rerum for a preIT'jum credit applied to your estimated standard premium of $ 1 282 . The deductible will apply per occurrence 10 paid medical costs only. There is no aggregate limit. 1 1 . 10/01/1994 10/0111995 OPTIONS NETDEPOSIT~ 10 Regular Premium Option Deductible Options: Deductible oer Occurrence $250 500 1,000 2,500 5,000 10,000 100914. 2 0 3 0 4 O. 5 D 6 0 7 0 Premium Credit 2% 4% 5% 9% 12% 17% Credit Amount 2226. 4451. 5564. 100/5. 13354. 18918. 98688. 96463. 95350. 90899. 87560. 81996. 8 0 9 D 100 Retrospectively Rated Premium Options: Retro-Rated Minimum Maximum Maximum Minimum Factor Premium Factor Premium 52.9% 130% 49.9% 58868. 140%.144667. 47.3% 55530. 150% 155795. 52636. 166923. This should be signed by an authorized representative of the city requesting coverage. One of the above options must be selected. Please return a signed copy of this notice to the Administrator with payment and make checks payable to the LMCIT. 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