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| ORIGINATING DEPARTMENT: |
COUNCIL GOAL: |
| City Manager |
High Performing City Organization: Financially Sound, Providing Service Value |
| LEGAL: |
| No Review Required |
| SUBJECT: |
| Consider motion to approve the renewal of the general insurance policy with the Iowa Communities Assurance Pool (ICAP) for the policy year July 16, 2020 through July 15, 2021, with a premium amount of $269,140.70. |
| EXECUTIVE SUMMARY: |
| City staff and True North Companies met to review claims history and deductible options and recommend no change in the current coverage limits available from ICAP. |
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FISCAL IMPACT:
Yes |
| The total premium amount for the policy year is $293,323 less a membership credit of $24,182.30 for a total premium amount of $269,140.70. This represents an increase of $36,605.45 or 15.75% from the previous year due to growth in vehicle and property valuations. The largest change is the addition of the new Ankeny Kirkendall Public Library to the property coverage. |
| CITY MANAGER'S RECOMMENDATIONS: |
| Approve the renewal of the general insurance policy with the Iowa Communities Assurance Pool (ICAP) for the policy year July 16, 2020 through July 15, 2021, with a premium amount of $269,140.70. |
| PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S): |
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