HomeMy WebLinkAbout02/17/2016 7F AGENDA BILL 7 F
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: 2016 Excess Loss Insurance for Study Session Date: February 10, 2016
the City's partially self-funded medical COUNCIL MEETING Date: February 17, 2016
insurance program Department: City Attorney's Office—
Human Resources
Presenter: Charlotte Belmore
Phone: (360)473-5926
SUMMARY: The City's excess loss insurance has expired and new coverage needs to be obtained
for calendar year 2016. Working through the City's broker Liberty Benefits Group(LBG) requests for
proposals were sent to various providers and Companion Life Insurance Company by and through
Montgomery Management, our current provider, provided the most cost efficient renewal option for
coverage. The premium is based on the number employees insured. Based on current employee
coverage the annual premium is estimated to be$209,387.
AITACHMENTS: Application to Companion Life Insurance Company for Aggregate and Specific
Excess Loss Insurance
FISCAL IMPACTS (Include Budgeted Amount): Adequate funds for this insurance renewal have
been included in the 2016 budget.
STUDY SESSION AGENDA: ❑x No Presentation ❑ Full Presentation
STUDY SESSION ACTION: � Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to approve the 2016 excess loss insurance with Companion Life Insurance Company by and
through Montgomery Management for the City's partially self-funded medical plan as bound for the
Ciry of Bremerton; and to authorize the Mayor to finalize and execute the contract, in substantially the
same form as presented.
COUNCIL ACTION: [✓�Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/07/15