HomeMy WebLinkAboutRes2002-084
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Sponsored by: Janke
CITY OF SEWARD, ALASKA
RESOLUTION 2002-084
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, APPROPRIATING FUNDS FOR INCREASED PREMIUM
COSTS OF PROPERTY, CASUALTY, WORKERS'S COMPENSATION
AND OTHER GENERAL INSURANCE PAID TO THE ALASKA
MUNICIPAL LEAGUE JOINT INSURANCE ASSOCIATION FOR THE
PERIOD JULY 1, 2002 THROUGH DECEMBER 31, 2002
WHEREAS, the City of Seward is a member of the Alaska Municipal League Joint
Insurance Association (JIA), a governmental insurance pool established by the Alaska Municipal
League; and
WHEREAS, the JIA provides the City coverage for property, including building,
contents, boiler and machinery, automobiles, mobile equipment and data processing equipment;
casualty, including general liability, public officials and employees liability, law enforcement
professional liability, auto liability and employee benefit liability, workers' compensation,
including employers liability; and commercial blanket bond. The City maintains supplemental
marine insurance and firefighters group accident coverage with insurance companies placed
through the JIA; and
WHEREAS, the JIA is a public entity risk pool organized to share risks among its
members; and
WHEREAS, the insurance market has been gradually tightening due to higher losses and
a downturn in the investment market; and
WHEREAS, the terrorist attack on September 11,2001 dramatically changed the
insurance market from a gradual firming to one of extreme hardness resulting in an increase in
the City's annual insurance premiums of over $285,000, a 109% increase from the prior year; and
WHEREAS, the City has adjusted property insurance values, removed property with low
values and/or low risk exposure and increased deductibles in order to reduce the cost of insuring
the property of the City of Seward; and
WHEREAS, the premium increase for workers' compensation is primarily due to
increased health care costs nationwide and in Alaska, the hard insurance market and the City's
average experience over the last ten years.
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CITY OF SEWARD, ALASKA
RESOLUTION 2002-084
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. Funds in the amount of $24,393 be appropriated from the following City
Funds to the various departmental workers' compensation insurance budget line items, account
no. 5080 as foliows:
General Fund
Harbor Enterprise Fund
SMIC Enterprise Fund
Electric Utility Enterprise Fund
Water/Sewer Utility Enterprise Fund
Parking Enterprise Fund
$17,498
2,299
348
2,649
1,559
40
Total appropriation
$ 24.393
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council ofthe city of Seward, Alaska, this 26th
day of August, 2002.
THE CITY OF SEWARD, ALASKA
( J-. I').N{~./
Edgar Blatchford, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Clark, Branson, Orr, Shafer, Valdatta, Calhoon, Blatchford
None
None
None
ATTEST:
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