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Approving Payment of Commercial Insurance FY2024 Including Auto, Property, General Liability, Law Enforcement, Employment Practices, Public Official Liability, Excess Liability and Workers Compensation, and a Service Agreement with Presidio Insurance
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WHEREAS, Presidio Insurance is the broker of record for Kane County.
WHEREAS, Presidio Insurance advises coverage as follows:
it is in the best interest of Kane County to protect the interests of Kane County by procuring all lines of commercial insurance coverage including auto, property, primary casualty, general liability, excess liability and worker’s compensation policies and to enter into a service agreement with Presidio Insurance for Fiscal Year 2024.
Fund 010, Line Item 50000
Acrisure LLC, dba Presidio Insurance Agency Fee in lieu of commission for Property, Primary Casualty, Workers Compensation, Crime and Cyber Liability $36,000
Fund 010, Line Item 53000
PRIMARY CASUALTY INCLUDING $719,653
General Liability, $5,000,000 per occurrence
Auto Liability, $5,000,000 per occurrence
Auto Physical Damage included-$35,000 Deductible $33,892
Public Officials Liability, $5,000,000 per occurrence
Employment Practices Liability, $5,000,000 per occurrence
Law Enforcement Liability, $5,000,000 per occurrence
Terrorism- included
Limit $1,000,000 SIR/Self Insured Retention
EXCESS LIABILITY
Excess Liability, $5,000,000 p/o $10MM xs per occurrence $556,364
Excess Liability, $5,000,000 p/o $15MM xs per occurrence $311,159
Excess Liability, $5,000,000 p/o $20MM xs per occurrence $221,226
Excess Liability, $5,000,000 p/o $25MM xs per occurrence $186,372
Cyber Liability $ redacted per occurrence $49,849
Deductible $ redacted
Employee Dishonest/Crime Limit $500,000 $7,062
Deductible $25,000
Property $314,375
Building/Contents Blanket ($300,000,000)
Inland Marine Equip. & Computers $ included ($10,000,000)
Includes Boiler & Machinery/Equipment
Deductible: $25,000 except $50,000 Flood & Earthquake
Terrorism Risk Insurance $ included
Fund 010, Line Item 53010
Excess Workers’ Compensation
Workers’ Compensation: Limit $ Statutory IL Benefit
Employers Liability $1,000,000 Limit $343,882
Premium Basis (payroll): $90,783,681
Self-Insured Retention: $850,000
TOTAL COSTS: $2,789,834
NOW, THEREFORE, BE IT RESOLVED that the Kane County Board authorizes premiums in the total amount of $2,789,834 annually. These premiums are in effect from December 1, 2023 through November 30, 2024.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the Finance Director is instructed to allocate the costs of these policies to the County’s Special Revenue Funds, and OCR Workforce Services. All payments and claims must be reported quarterly to the Human Services, Finance, and Executive Committees.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the Fiscal Year 2024 budget be as follows:
010.120.130.53000 Insurance Liability: Liability Insurance $2,409,952
010.120.130.53010 Insurance Liability: Workers Comp $ 343,882
010.000.000.39900 Insurance Liability: Broker Fee $ 36,000
Line Item:010.120.130.53000 and 010.120.130.53010
Line Item Description: Insurance Liability and Workers Compensation
Was Personnel/Item/Service approved in original budget or a subsequent budget revision? Yes
Are funds currently available for this Personnel/Item/Service in the specific line item? Yes
If funds are not currently available in the specified line item, where are the funds available?
010.000.000.39900
Passed by the Kane County Board on November 14, 2023.
_________________________ _________________________
John A. Cunningham, MBA, J.D. Corinne M. Pierog MA, MBA
Clerk, County Board Chairman, County Board
Kane County, Illinois Kane County, Illinois
Vote: