The URL can be used to link to this page

Home My WebLink Aboutresolution.council.093-02 (SERIES OF 2002) A RESOLUTION OF THE CITY COUNCiL OF ASPEN, COLORADO, APPROVING THE RENEWAL OF THE CI2~SA PROPERTY/CASUALTY INSURANCE POLICY FOR THE CITY OF ASPEN FOR 2003, AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE ACCEPTANCE OF THE PREMIUM QUOTE ON BEHALF OF THECITY OF ASPEN. WHEREAS, there has been submitted to the City Council the Premium Quote for 2003 CIRSA Property/Casualty Insurance Policy for the City of Aspen, Colorado a copy of which is annexed hereto and part thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITy COUNCIL OF THE CITY OF ASPEN, COLORADO~ Section One That the City Council of the City of Aspen hereby approves the City Council the Premium Quote for 2003 CIRSA Property/Casualty Insurance Policy for the City of Aspen, Colorado, a copy of which is annexed hereto and incorporated herein, and does hereby authorize the City Manager to execute said Acceptance of Premium Quote on behalf of the City of Aspen. Dated: ~ ~ I, Kathryn Koch, duly appointed and acting City Clerk do certify that the foregoing is a true and accurate copy or, at resolution adopted by the City Council of the City of Aspen, Colorado, at a meeting held (ffdd~.a~) /~' ,2002. COLORADO INTERGOVERNMENTAL RiSK SNARING AGENCY Timothy A. Greer: Executive Director August 30, 2002 Peggy Carlson, Risk Manager City of. Aspan 130 South Galena Street Aspen, CO 81611 Dear Peggy: As further explanation of the attached renewal quotation, we thought it might be helpful to provide you with the reasons why your Property/Casualty contribution has increased for 2003. As many of you know: the insurance market has remained volatile since late 2000 Property.and Public Officials Liability lines in particular have seen the greatest increases in rates. Coupled with the effects of the downturn in the U.S. economy and the large losses on September I 1, 2001, this market volatility ~s expected to continue at least through the 2003 r~newal year. The majority of the rate increase for CIRSA can be attributed to these increases in excess premiums. In addition, the information in our me~bers' renewal applications indicates that exposures m essential service areas have increased in order to address the continued growth in our member communities. In some instances, an increase in your public entity's claims activity may have also contributed to an increase m contribution. The property and liability lines of coverage are loss-sensitive, so that an increase in the number of claims against your public entity, or their severity, will result in an increase in contribution. This is noted in thc percentage change, if any, in the Loss Experience Factor listed below. The specific factors related to your rate increase include: · Increase in excess insurance prerNuras · 29% increase in exposures with significant increases in: Police Expenditures (I6%); Rec Center Expenditures (102%); Number of Swimming Fool Expenditures (100%) If you have any questions about your renewal quote, please don't hesitate to contact us. Michell¢ B~champs, C1-RSA's Assistant Executive Director, and I will be in your area over the next couple of weeks to offer any further explanation to your quote or percentage increases in your exposures. We are also available to give presentations to your council or board of trustees upon request. Should this be of interest to you, please contact Michell¢ at the number listed below Thank you for you; on-going support of CIRSA. We look forward to continuing our relationship with you in 2003 Sincerely, Executive Director 3665 Cherry Creek North Drive Denver, Colorado 80209 (303 757-5475 (800)228-7136 303)757-8950 www. cirsa.org COLORADO INTERGOVERNMENTAL RISK SHARING AGENCY Timothy A. Greer, Executive Director August 30, 2002 Peggy Carlson, Risk Manager City of Aspen 130 South Galena Street Aspen CO, 81611 RE: 2003 Property/Casualty Preliminary Contribution Quotation Dear Peggy: Enclosed is the preliminary quotation for your 2003 contribution to the CIRSA Property/Casualty Pool for the coverage period January 1, 2003 through January 1, 2004. Final invoices, marled on January 1, 2003, may increase/decrease based on such factors as the number of CIRSA members for 2003, actual excess insurance premiums, and any changes made to your 2003 renewal application. The types and monetary limits of the proposed coverages to be provided ro 2003 CIRSA Property/Casualty members are shown in ATTACHMENT A. The scope, terms, conditions, and limitations of the coverages are governed by the applicable excess policies, the CIRSA Bylaws and Intergovernmental Agreement, and other applicable documents. Also included in ATTACHMENT A is information on your entity's Loss Control Standards Audit Score credit, if any. The quote is shown in ATTACHMENT B. The quote contemplates the exposures stated in your 2003 Renewal Application and all Application Amendment Requests received by CIRSA through August 8, 2002. ATTACHMENT C contains the Acceptance of Preliminary Property/Casualty Quotation form. The form must be completed and returned to CIRSA by Tuesday, October J, 2002. In addition, the form requires that you indicate the deductibles you are selecting, confirms your participation in or rejection of Medical Payments and Uninsured/Underinsured Motorist coverage as determined from your 2003 renewal application, and requires that you indicate how your entity would like ro use the various credits for which it qualifies, if any. 3665 Cherry Creek North Drive Denver, Colorado 80209 303 757-5475 800)228-7136 303)757-8950 wvzw. cirsa.org 2003 Property~Casualty Preliminary Contribution Quotation August 30, 2002 Page 2 Should you have questions regarding the preliminary quotation, or any other aspect of the Proper~y/Casualty program, comact your underwriting representative at (303) 757-5475 or (800) 228-7136. A CIRSA representative will be happy to meet with you and other officials of your corranunity if you so desire. Thank you for your interest and participation. We look forward to continuing to serve you in the coming year. Sincerely, Timothy A. Crreer Executive Director 10/01/2002 08:05 FA.~ 3035044218 CtRSA ~002 COLORADO INTERGOVERNI~ENTAL RIGl( SHARING AGENCY ~methy A. Greet, ~eculive gke~tor September 3g, 2002 Peggy Carlsah, Riak Manager City of Aspct~ 130 South O~ena Street Aspen, Coloz~do 81.611 Dear Peggy: . As you know~ CIRSA Bylaws require each member to submit its acceptancWwithdrawai form for 2003 membeml'dp by no later than October 1. 2002. }-Iowcvcr, in Ilght of the fact that your governing body is not meeting until ()ctoISer 15. 2002. I will ~n~ yo,J an ex%~nsion until 5:00 p.m. on the followin~ day, October 16, 2002, to submit the form to us. Vfs must receive the form by that date; ~f your governing body' ~ decision ia to withdraw ftoo C~.SA. any notice of withdrawaI received after that date will result in your entity being obligated for its share of 2003 CIRSA administrative costs pursumat t. the CIRSA Bylaws, Sincerely, 'Timothy~. Qreer Executive Director 3665 Cherry Creek North Dr/ye, Denver. Colorado 80209 (303 757-5475 (800)228-7136 (303 757-$950 *vww.cirsa.o:g Acceptance of Preliminary Property/Casualty Quotation Attachment C MUST BE RECEIVED AT THE CIRSA OFFICE ON OR BEFORE TUESDAY, OCTOBER 1, 2002 Complete, sig~, and return this form if your entity has decided to accept CIRSA's PreJ{mlnary Property/Casualty Quotation for 2003. ACCEPTANCE OF PRELIMINARY PROPERTY/CASUALTY QUOTATION This is to notify CIRSA that the City of Aspen accepts the following preliminary quotation for property/casualty coverage for 2003 (check and fill in as applicable): The City of Aspen accepts the preliminary 2003 quotation for a premium of $~L.~. ? ~&}' with the same deductibles as 2002 (listed below): $10.000 L/ability Deductible $5,000 Auto Liability Deductible $10,000 Property Deductible $10,000 Auto Physical Damage Deductible The City of Aspen accepts the preliminary 2003 quotation ors with new deductibles of: $. Liability Deductible* $ Auto Liability Deductible $. Property Deductible $ Auto Physical Damage Deductible *A $500 deductible quotation is offered to members, if requested, forproperty, auw physical damage, auto liability and general liability, tlowe~er, police professional and public officials errors and omissions deductibles cannot go below $1,~00. Medical Payments and Uninsured/Underinsured Motorist Coverage Based upon the selections made in your 2003 Property/Casualty Renewal Application, the City of Aspen has elected: not m participate in Medical Payment Coverage, and to participate in UrSnsured/Underinsured Motorist Coverage. If this is incorrect, or you wish to change your selection at this time, please contact your u~derwriting representative at (800) 228-7136 or (303) 757~5475. Acceptance of Preliminary Property/Casualty Qttotation Attachment C/continued) LOSS CONTR. OL STANDARDS AUDIT SCORE CREDIT AND lC~ISK lC~,TING SUMMARY CREDIT Please indicate below how you would like to utilize your 2003 Loss Control Standards Audit Score Credit or Risk Rating Summary Credit, if applicable: Apply the credit towards our 2003 conu'ibution. 'x,,/ Deposit the credit in our Loss Control Credit Account on January 1, 2003. __ Send us a check for the amount of the credit (atker January 1, 2003). MULTI-POOL INCENTIVE CREDIT Please indicate below how you would like to utilize your Property/Casualty multi-pool incentive credit, if applicable: __ Apply the incentive credit towards our Properry/Casualty contribution. __ Apply the incentive credit towards our Workers' Compensation contribution. THIS IS NOT A BILL. AN INVOICE WILL BE SENT ON JANUARY 1, 2003. The undersigned is authorized to accept this prel/minary quotation on behalf of the City of Aspen. We accept this preliminary quotation for January 1, 2003 to January 1, 2004. We understand our final invoice may increase/decrease depending upon the number of ClRSA Proper~y/Casual~y members for 2003, actual arcess insurance premiums, and any chan~e{ ~de t, g your 2003 renewal application. Signature: ~,~ ~'-,/~r/-'-~ ( ~'~-~,.~,-~,~ Title: ~') / l"y