Title
Human Resources, Risk Management Division, recommending the Board approve insurance coverage and programs for Underground Storage Tanks and Airport Operations Liability coverage be paid to PRISM as Alliant’s intermediary partner and approve the revised Fiscal Year 2022-23 insurance coverage and programs rates and vendors sheet with no change to total cost.
FUNDING: Risk Management Internal Service Fund.
Body
DISCUSSION/BACKGROUND
On July 19, 2022, with Legistar item 22-1245, the Board approved the Fiscal Year (FY) 2022-23 insurance coverage and programs. The item listed Airport Operations Liability and Underground Storage Tanks (UST) coverage premiums as being paid to Alliant. However, Alliant is PRISM’s broker and the invoice premium and administrative fee payments should be paid to PRISM. Attachment A listing all program insurance and vendors has been updated to reflect payment be made to PRISM with no change to program costs. Also, the sheet clarifies that the premiums listed include any administrative fees and any variations on program names that are listed on premium invoices. No premium changes have been made to the original rate attachment which included administrative fees in the total.
ALTERNATIVES
No viable alternative recommendations are available.
OTHER DEPARTMENT/AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
Approve as recommended.
FINANCIAL IMPACT
There is no financial impact to this item, as the Board previously approved FY 2022-23 insurance coverage and programs. This item only clarifies the vendor to which payment is made for two insurance programs.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Provide one certified minute order of the agenda item to Michael Andersen/Joseph Carruesco in the Human Resources Department, Risk Management Division; and one certified minute order of the agenda item to the Chief Administrative Office.
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Joseph Carruesco, Director of Human Resources