AMENDING RESOLUTION NO 156-18 TO ACCEPT PROPERTY INSURANCE COVERAGE, CARRIER AND PREMIUM FOR SAUK COUNTY

Committee Status: 
Approved
Budget Status: 
Budgeted
Decision Impact: 
Routine
FTE Impact: 
No
Funding Source: 
Other (see budget status)

Purpose

Resolution No. 156-18 requires an amendment to accept Wisconsin County Mutual Insurance Corporation (WCMIC) as the most cost effective proposal that also provides for adequate coverage for property insurance coverage for 2019 as outlined below.        

Background

On October 16, 2018, Resolution No.156-18 was adopted approving Liability, Workers Compensation and Property Coverage, Carriers and Premiums for 2019. Liberty Mutual was previously selected for property insurance coverage. However, it was determined that Wisconsin County Mutual Insurance Corporation (WCMIC) is the lowest cost for comparable property insurance coverage for Sauk County.  WCMIC utilizes a non-traditional method for calculation of vehicle comprehensive/collision coverage as part of the property insurance coverage. Other commercial carriers provide for similar line of coverage through liability insurance. Selecting WCMIC for property insurance coverage, inclusive of vehicle comp/collision equates to approximate savings of $48,223.

 

Resolution No. 156-18 requires an amendment to accept WCMIC as the most cost effective proposal that also provides for adequate coverage for property insurance coverage for 2019 as outlined below.        

Resolution Files: 
File resolution_amending_res._no_156-18_property_ins.docx

Resolution Body

WHEREAS, the Property and Insurance Committee has reviewed the revised 2019 premiums for property insurance for Sauk County and recommends the following coverage for Sauk County from Wisconsin County Mutual Insurance Corporation (WCMIC) and recommends the following as being in the best interest of the County:

 

COVERAGE                                      DEDUCTIBLE                                  PREMIUM

Buildings, Contents, Property in Open            $25,000 (per occurrence)                                   $     76,172

Automobile Comp/Collision                             $1,000/$5,000                                                     $     46,555

Equipment Breakdown                                   $1,000                                                             $       4,912

Contractors Equipment                                      $5,000                                                                   $   included

Special Use Animal                                            $1,000                                                                   $   included

 

TOTAL PREMIUM TO WCMIC (PROPERTY)                                    $ 127,639

 

            NOW, THEREFORE BE IT RESOLVED, by the Sauk County Board of Supervisors met in regular session, that Resolution No. 156-18 be amended to adopt the above property insurance coverage, carrier, and premium be, and hereby are, adopted for the policy period of January 1, 2019, through December 31, 2019.

 

For consideration by the Sauk County Board of Supervisors on November 13, 2018.

Requested Board Review Date: 
Tuesday, November 13, 2018
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