HomeMy WebLinkAbout2022-07-05 J01F ICAP RenewalAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: July 5, 2022
AGENDA ITEM:Renewal with Iowa Communities Assurance Pool (ICAP) for 07/01/2022
– 06/30/2023 Property, Auto, Professional and Liability insurance.
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON: The attached reports provide detail for the
2022/2023 insurance renewal and annual billing. Vehicle valuations
increased $502,658 and property valuations increased $16,768,196
equating to an overall premium increase of 19% or $54,213.00 over last
year. Largest addition of property was a result of the opening of
Triumph Park. If we take out the new valuations, the overall premium
rate increase was 8%, mainly due to current insurance market trends.
Once again there was no member credit for this year.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $346,504.00
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Staff recommends approving the total payment to
ICAP.
RECOMMENDATION: Approve the Resolution.
ATTACHMENTS: ICAP Renewal paperwork
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
J1F
THE CITY OF WAUKEE, IOWA
RESOLUTION 2022-
APPROVING PAYMENT TO IOWA COMMUNITIES ASSURANCE POOL (ICAP)
FOR 07/01/2022 – 06/30/2023 PROPERTY, AUTO, PROFESSIONAL & LIABILITY
INSURANCE IN THE AMOUNT OF $346,504.00
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, Iowa Communities Assurance Pool (ICAP) provides property, auto, professional
and liability insurance services for the City; AND,
WHEREAS, ICAP proposes a renewal of policies for the period of July 1, 2022 through June
30, 2023 at a cost of $346,504.00 less member distribution credit of $0, for a total payment of
$346,504.00; AND,
WHEREAS, City staff recommend approval of the payment.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee, Iowa on
this the 5th day of July, 2022, that it hereby approves payment to Iowa Communities Assurance
Pool (ICAP) for 07/01/2022 – 06/30/2023 property, auto, professional & liability insurance in
the amount of $346,504.00.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman Pierce
R. Charles Bottenberg
Chris Crone
Larry R. Lyon
Ben Sinclair