| Item Title: | HR - USI Liability Insurance Proposal Rates for FY23 | | Submitted By: | Minnie Holguin, Chief Human Resources Officer, Human Resources Department (915) 546-2218 | | Subject: | Approve and authorize the County Judge to sign the Liability Insurance Rate Proposal, and related documents for FY 2023 which will authorize the County’s Insurance Broker (USI Southwest Inc.) to proceed with obtaining insurance policies based on their Liability Insurance Rate Proposal for Auto, Crime, Property, Special Events General, Drone Insurance coverages in the amount of $407,834 for premiums. Funding is available in GF-GADM-INS-GEN/PROPERTY. (Contract No. 2022-0685) | | Background: | The County of El Paso’s Insurance Broker USI Southwest, Inc. provided the Commissioners Court, during the budget meetings held on August 9, 2022, the estimated liability insurance rates for auto liability with Texas Political Subdivisions, Property and Crime with Travelers, Special Events General Liability with Euclid Insurance Company, and Drone with RT Specialty.
Approval of this proposal will result in the creation of formal insurance policies which will be brought back to the Commissioners Court for final approval. The renewal premiums in the proposal represents a total amount of $407,834 which represents a decrease of $804 from the estimated budgeted amount for FY2023; however, the final Auto premium is subject to change dependent on vehicle additions or deletions prior to the end of FY21. The total premium amount does not include the broker annual cost of $20,000 which was also included in the budgeted amount for FY23.
FY23 Proposal Amounts:
- Property blanket coverage for FY2023 is $277,735, which represents $51,682 increase from the FY22 ($226,073) premium.
- Crime coverage for FY2023 is $7,503 which represents $54 increase from FY22 ($7,449) premium.
- Auto liability coverage for FY2023 is $113,187 which represents $10,041 increase from FY22 ($103,146) premium. *this premium is subject to change
- Special Events General Liability coverage for FY2023 is $8,004 which represents $578 increase from FY22 ($7,426) premium.
- Drone coverage for FY2023 is $1,385 which represents $51 increase from FY22 ($1,334) premium.
The County Attorney’s Office has reviewed the Liability Insurance Rate Proposal and related documents for FY 2023. (Contract No. 2022-0685) | | Fiscal Impact: | Funding is available in:
GF-GADM-INS-GEN/PROPERTY
COGF-1000-0000000-431-10-10000-0001-00000-600312-
FY 2018 $265,695
FY 2019 $326,561
FY 2020 $340,942
FY 2021 $358,212
FY 2022 $723,585
FY 2023 $407,834 | | Recommendation: | Approve and authorize the County Judge to sign the Liability Insurance Rate Proposal, and related documents for FY 2023 which will authorize the County’s Insurance Broker (USI Southwest Inc.) to proceed with obtaining insurance policies based on their Liability Insurance Rate Proposal for Auto, Crime, Property, Special Events General, Drone Insurance coverages in the amount of $407,834 for premiums. Funding is available in GF-GADM-INS-GEN/PROPERTY. (Contract No. 2022-0685) | | Prior Action: | October 28, 2019, Agenda Item#4H, Commissioners Court approved the FY2020 Liability Insurance Rate Proposal as provided by County’s Insurance Broker USI Southwest Inc. (2019-0822)
June 8, 2020, Agenda Item#4F, Commissioners Court approved the short term CO-OP contract with USI Southwest, Inc. for insurance brokerage services. (2020-0428)
July 6, 2020, Agenda Item#13, Commissioners Court approved the award of RFP 20-028, Insurance Broker for the County of El Paso to USI Southwest Inc.
October 5, 2020, Agenda Item#4C, Commissioners Court approved the FY2021 Liability Insurance Rate Proposal as provided by County’s Insurance Broker USI Southwest Inc. (2020-0872)
September 27, 2021, Agenda Item#22, Commissioners Court approved the FY2022 Liability Insurance Rate Proposal as provided by County’s Insurance Broker USI Southwest Inc. (2021-0735) | | Strategic Plan: | .. | | Strategic Plan Information: | |
| |