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Home My WebLink About2024-07-15 I01E FY2025 ICAP RenewalAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: July 15, 2024 AGENDA ITEM:Consideration of approval of a resolution authorizing renewal with Iowa Communities Assurance Pool (ICAP) for 07/01/2024 – 06/30/2025 Property, Auto, Professional and Liability insurance. FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: The attached reports provide detail for the 2024/2025 insurance renewal and annual billing. Vehicle valuations increased $2,248,470 to $12,195,229 and property valuations increased $19,660,711 to $98,567,483. Overall premium increase for FY25 is 28% or $159,193.00 over last year. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $562,253.00 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:Tracy Lovetinsky REVIEWED BY:Linda Burkhart PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: I1E THE CITY OF WAUKEE, IOWA RESOLUTION 2024- APPROVING PAYMENT TO IOWA COMMUNITIES ASSURANCE POOL (ICAP) FOR 07/01/2024 – 06/30/2025 PROPERTY, AUTO, PROFESSIONAL & LIABILITY INSURANCE IN THE AMOUNT OF $562,253.00 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, 2024 through June 30, 2025 at a cost of $562,253.00 less member distribution credit of $0, for a total payment of $562,253.00; 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 15th day of July, 2024, that it hereby approves payment to Iowa Communities Assurance Pool (ICAP) for 07/01/2024 – 06/30/2025 property, auto, professional & liability insurance in the amount of $562,253.00. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN R. Charles Bottenberg Chris Crone Rob Grove Anna Bergman Pierce Ben Sinclair Member Proxy Be it known, that the undersigned representative of the Governmental Sub-Division (hereafter referred to as MEMBER) by resolution of the governing body, a copy of which is attached hereto, hereby nominates and appoints the following individual and alternate to represent the MEMBER with the lowa Communities Assurance Pool (hereinafter referred to as the POOL). The individual and alternate shall act as liaison between MEMBER and the POOL for the purposes of relating risk reduction and loss control information, and any other loss information or instructions concerning the obligations of the MEMBER imposed by signing the lowa Risk Management Agreement and the rules and regulations established thereunder, to the same extent and with like effect as the undersigned thereunder, to the same extent as the undersigned could do if personally present and the undersigned does hereby ratify and confirm and adopt all action done or taken by the individual or alternate. Primary Contact: Brad Deets Alternate Contact: Linda Burkhart Title: City Administrator Title: Director of Finance Address: 230 W Hickman Rd. Address: 230 W Hickman Rd. Address: Address: City, State, Zip: Waukee, 14 50263 City, State, Zip: Waukee, IA 50263 Email: bdeets@waukee.org Email: lburkhart@waukee.org Telephone: 515-987-4522 Telephone: 515-987-4522 In witness whereof, this proxy was executed on the Aus day of June , in the year Fey. Na , by the undersigned duly authorized officers of the Governmental Subdivision indicated below: Governmental Subdivision: City of Waukee Member ICAP #: 0059 . By: Sake Buthor : Title: _ Finanm Nirecta- By: (City Clerk/County Auditor/Board Secretary) Anniversary Information Acknowledgement The undersigned representative of the City of Waukee acknowledges that he/she: we Reviewed the information provided on all lowa Communities Assurance Pool applications and all applicable supplemental applications. PA -Reviewed all applicable property and vehicle schedules. ma Confirms, to the best of his/her knowledge, that all information provided is complete and accurate. Reviewed the optional coverage(s) offered by the lowa Communities Assurance Pool for increased limits. After consideration of the coverage(s) offered and the contribution for same, City of Waukee has elected to: [| Waive any and all coverage(s) and any applicable contribution charges. City of Waukee understands that to add increased limits coverage in the future, it will be subject to lowa Communities Assurance Pool’s approval and underwriting guidelines at the time of the request and that such request must be made in writing. In addition, City of Waukee will not hold the lowa Communities Assurance Pool responsible for this decision to waive optional coverage(s). #9 . _ 000,000 Accept th d limits: xy [7] Accept the increased limits (Limit of Liability Accepted) Executed on the 4" day of C0 , in the year Boa , by the undersigned duly authorized officer of the Governmental Subdivision City of Waukee indicated below: By: Aundo Buthok Tite: _Cinaney Divector Member: City of Waukee Member Number: 0059 Anniversary Date: 07/01/2024 City of Waukee Coverage General Liability Auto Liability Law Enforcement Liability Public Officials Liability Excess Liability Vehicles Property Equipment Breakdown Crime TOTAL CONTRIBUTION FINAL CONTRIBUTION Excess Liability Options Excess Liability Excess Liability Excess Liability Excess Liability Excess Liability Quote Summary Contribution $64,645 $24,679 $18,411 $15,471 $38,264 $85,367 $315,416 Included $0 $562,253 $562,253 Contribution $39,426 $40,528 $41,567 $42,550 $43,505 Limit of Coverage $2,000,000 $2,000,000 $2,000,000 $2,000,000 $8,000,000 $12,195,229 $98,567,483 Included $10,000 Limit of Liability $9,000,000 $10,000,000 $11,000,000 $12,000,000 $13,000,000 Anniversary Date: 07/01/2024 Deductible $0 $0 $2,000 $500 See Schedule See Schedule $500 Coverage Effective 07/01/2024 07/01/2024 07/01/2024 07/01/2024 07/01/2024 Retroactive Date 07/01/2024 07/01/2024 07/01/2024 07/01/2024 07/01/2024 07/01/2024 07/01/2024 07/01/2024 Payment for this invoice can be submitted electronically via the ICAP website. Please visit www.icapiowa.com and click "Member Pay" at the top right of the page to pay via ACH transfer. There is no fee for utilizing this service. If you require assistance or prefer to pay via check, please contact the ICAP office via 1-(800) 383-0116. This quotation expires on the Proposed Effective Date. Coverage Effective 7/1/2024 7/1/2024 7/1/2024 7/1/2024 7/1/2024 7/1/2024 71112024 Included 7/11/2024 Commitment to Continue Membership |, City of Waukee, do hereby affix my signature to this form and promise to submit the contribution of $562,253.00 (less attached vouchers if applicable) by 7- lo-2094 . In order to fulfill this commitment, our payment will be received by the lowa Communities Assurance Pool, at the address on this form, no later than 7-/9~\0aY4 Printed Name linda BurKEhart Signature — Jurda Suslthpt- Date b~2Qlo~2034 lowa Communities Assurance Pool 12951 University Ave, Ste 120 Clive, IA 50325