RESOLUTION THE CITY COUNCIL OF THE CITY OF SAN LEANDRO
RESOLUTION NO. 2022-
RESOLUTION APPROVING AN INCREASE TO THE CITY OF SAN
LEANDRO’S GENERAL LIABILITY SELF-INSURED RETENTION LEVEL FROM $500,000 TO $750,000 THROUGH ITS AGREEMENT WITH THE CALIFORNIA
JOINT POWERS RISK MANAGEMENT AUTHORITY
WHEREAS, the City of San Leandro currently has a $500,000 Self-Insured Retention (SIR) level through the California Joint Powers Risk Management Authority (CJPRMA); and WHEREAS, that SIR limit will no longer be available to our risk pool due to inflationary pressures observed in the insurance market nationwide and across California, leaving either a $750,000 or $1,000,000 SIR as the available options; and WHEREAS, an independent actuarial evaluation of the City’s entire loss history recommends to increase the SIR level to $750,000 effective July 1, 2022; and WHEREAS, the City Council is familiar with the contents thereof; and WHEREAS, the City Manager recommends for City Council approval an increase to the Self-Insured Retention level to $750,000.
NOW, THEREFORE, the City of San Leandro City Council RESOLVES as follows:
That said $750,000 Self-Insured Retention level through the California Joint Powers Risk Management Authority is hereby approved and execution by the City Manager is hereby authorized.
Introduced by ___________ and passed and adopted this XXth day of XXXX 2022, by the following vote:
Members of the Council:
AYES: ()
NOES: ()
ABSENT: ()
ATTEST:
Kelly B. Clancy, Acting City Clerk