Meeting Type: BCC Regular Meeting
Meeting Date: 10/16/2018
Item Status: New
From: Andrea Roberson, Personnel Director
Submitted by: Andrea Roberson, Personnel Director
______________________________________________________________________
ITEM TITLE
Title
Stop Loss Proposal - Partners Managing General Underwriters/United States Fire Insurance Company
Body
STAFF RECOMMENDATION
Recommendation
1 - Approve and authorize the Chairman to execute the Medical Stop Loss proposal with United States Fire Insurance Company/Partners Managing General Underwriters for specific and aggregate stop loss insurance to be effective January 1, 2019; and
2 - Authorize the Clerk Treasurer to issue a check to Partners MGU in the amount of $63,762.12 for the first month premiums.
End
BACKGROUND INFORMATION
Previous Commission action/date: N/A
Background: Cobbs Allen shopped stop loss insurance for the 2019 plan year. Partners Managing General Underwriters has submitted an 8% increase, and this is the only “firm” quote received at this point as most other carriers require claims data through September (some even require claims through October).
To avoid risking these rates going up based on unexpected claims in September, Cobbs Allen recommends locking in the renewal with Partners.
FINANCIAL IMPACT
Total cost of recommendation: N/A
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Andrea Roberson
Action required (list contact persons/addresses if documents are to be mailed or emailed): Return signed documents to Andrea Roberson.
Additional instructions/notes: N/A