Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
2021-04-19 City Council Item No. 12.1 Joint Powers Agreement and Bylaws - California Intergovernmental Risk Authority Regular MEETING - Additional Meeting Materials
Risk Management Joint Powers Agreement and Bylaws -California Intergovernmental Risk Authority Structure Risk Pools Purpose •Exists through a Joint Powers Agreement •Acts as an extension of the City •Governed By a Board of Directors •Manage and reduce underlying risks •Create, foster, manage safe environments •Minimize personal, physical property damages and losses. CIRA California Intergovernmental Risk Sharing Authority REMIF Redwood Empire Municipal Insurance Fund PARSAC Public Agency Risk Sharing Authority of California Background: Risk Pool PARSAC Historical Cost FY 18/19 FY 19/20 FY 20/21 Worker's Comp 211,496$ 323,569$ 482,807$ Liability 369,558$ 637,388$ 882,875$ Commercial Crime 1,928$ 2,024$ 2,126$ Property Insurance 28,314$ 44,443$ 79,824$ Cyber Liability 5,793$ 5,793$ 5,795$ Polution Program n/a 247$ 891$ PREMIUM 617,089$ 1,013,464$ 1,454,318$ *Includes $261,492 Due for FY 19/20 FY 18/19 FY 19/20 FY 20/21 July 1 Approved 93.5 207 209 Mid-year 107 225 241 Menifee Employee Count PARSAC Insurance Coverage Premiums Risk Pool Proposals FY2021/22 CIRA CalJPIA PERMA Worker's Comp 485,524$ 557,600$ 535,700$ Liability 849,478$ 900,200$ 1,055,050$ Commercial Crime 2,126$ Optional 5,000$ Property Insurance 79,824$ 88,000$ 80,000$ Cyber Liability 5,795$ Included 2,000$ Polution Program 891$ Optional Optional PREMIUM 1,423,638$ 1,545,800$ 1,677,750$ Decrease/(Increase) from CIRA:(122,162) (254,112) Recommended Action Adopt Joint Powers Agreement and Bylaws for the California Intergovernmental Risk Authority,which permits the merger or joining of the Public Agency Risk Sharing Authority of California and the Redwood Empire Municipal Insurance Fund. Thank You Questions