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Human Resources Department, Risk Management Division, recommending the Board approve insurance coverage and programs for an estimated total amount of $10,624,922 and authorize the Human Resources Department, Risk Management Division, to sign and approve all documents required to secure insurance coverage and programs for Fiscal Year 2025-26 in order to avoid lapse of coverage, including, but not limited to the following:
1) PRISM - insurance and program participation in the following: Primary Workers' Compensation; Excess Workers' Compensation; General Liability 2; General Liability 2 Assessment; Property; Medical Malpractice; Optional Excess Liability; Catastrophic Inmate Medical Insurance; Cyber Liability; Master Crime; Pollution; Underground Storage Tank; Airport Operations Liability; Aircraft Insurance (Helicopter); Watercraft;
2) Alliant - Special Liability Insurance Program; and
3) WellFleet - Volunteer Blanket Insurance.
FUNDING: Risk Management Internal Service Fund.
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DISCUSSION/BACKGROUND
The County faces a complex array of risks that can result in severe or catastrophic loss. Purchasing insurance helps protect the County from catastrophic general liability claims, automobile accidents, and workers' compensation injuries. Additionally, purchasing insurance protects the County from loss due to damage or destruction of County assets, pollution, crime, cyber liability, and airport operation exposures. The County procures a variety of insurance policies and programs to mitigate and transfer exposures to catastrophic loss. By securing these risk mitigating and transfer mechanisms, the County is better positioned to protect assets and personnel for the fulfillment of its services, objectives, and goals related to the Strategic Plan.
This request is an annual process for the Board to authorize the Risk Management Division to renew insurance coverage and programs provided by PRISM, Alliant, and WellFleet. The County utilizes its participatio...
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