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HomeMy WebLinkAboutItem 5j - Authorize Self-Insured Retention Increase Within CJPIA General Liability Excess Protection Program Item 5j Department: Human Resources Cost Center: 3050 For Agenda of: 6/3/2025 Placement: Consent Estimated Time: N/A FROM: Nickole Domini, Human Resources Director Prepared By: Kate Auslen, Risk and Benefits Manager SUBJECT: AUTHORIZE SELF-INSURED RETENTION INCREASE WITHIN THE CALIFORNIA JOINT POW ERS INSURANCE AUTHORITY’S GENERAL LIABILITY EXCESS PROTECTION PROGRAM RECOMMENDATION Adopt a draft Resolution entitled, “A Resolution of the City Council of the City of San Luis Obispo, California, approving an Increase to the Self-Insured Retention Limit within the California Joint Powers Insurance Authority’s General Liability Excess Insurance Program.”(Attachment A) POLICY CONTEXT This item aligns with the Economic Resiliency, Cultural Vitality and Fiscal Sustainability Major City Goal. DISCUSSION Background The City of San Luis Obispo became a member of the California Joint Powers Insurance Authority (CJPIA) on July 1, 2004, for participation in the general liability and workers’ compensation programs. Membership in the CJPIA means sharing risk with other member agencies, who assist each other in keeping the cost of claims down by following risk management best practices. By sharing risk, the cost to an agency for a year with significant claims experience is somewhat mitigated and spread out across many agencies. In 2016, the City Council approved transitioning from the “first dollar” primary program to CJPIA’s excess protection program for general liability with a Self -Insured Retention (SIR) of $500,000. This means that the City pays claims costs up to $500,000 before CJPIA liability coverage begins to pay the “excess” costs beyond $500,000. In 2023, a cost analysis was completed showing that the transition to the excess program for liability has resulted in savings of approximately $400,000 per year since the transition occurred. In 2024, the City Council approved a transition to CJPIA’s excess protection program (EPP) Page 215 of 243 Item 5j for workers’ compensation with a Self-Insured Retention (SIR) of $500,000, also resulting in significant savings. Proposed Change CJPIA provided the following member contribution estimates at different SIR levels for FY 2025-26: Table 1: City of San Luis Obispo Member Contribution Estimates at Different SIR Levels Self-Insured Retention CJPIA Member Contribution Estimate Savings ($) Savings (%) $500,000 (Current) $1,483,000 $0 0% $750,000 $1,267,000 $216,000 15% $1,000,000 (Proposed) $1,191,000 $292,000 20% $1,250,000 $1,142,000 $341,000 23% $1,500,000 $1,084,000 $399,000 27% The total cost of general liability claims consists of three components: 1. The annual CJPIA member contribution 2. Direct claim costs up to the self-insured retention amount 3. A fee paid to the City’s Third-Party Administrator, Carl Warren & Co., for claims management services The CJPIA member contribution is calculated based on three key factors: the City’s loss history over a rolling five-year period, changes in payroll, and actuarially determined program rates. Actuarially determined program rates are affected by overall pool performance fluctuations year over year. These factors are used to determine the city’s share of pooled-loss funding requirements, share of the pool’s excess insurance purchases, and operating expenses. The five-year rolling average for claim experience has a large impact on the calculation, according to CJPIA. The City’s five-year rolling average included in the FY 2025-26 CJPIA member contribution estimate spans FY 2018-19 through FY 2022-23. Two unusually high claim years fall within this period, as illustrated in Table 2 below. These figures include reserve amounts for claims not yet settled, so they are subject to change. However, the FY 2023-24 appears to be an unusually low year, which could favorably impact the City’s CJPIA member contribution for FY 2026-27. Page 216 of 243 Item 5j Table 2: Five-Year Rolling Average for Claim Experience Coverage Year Direct Claim Costs 2018-19 $799,903 2019-20 $496,738 2020-21 $1,119,459* 2021-22 $947,701* 2022-23 $1,611,143* 2023-24 $184,476* *Actual + Remaining Reserve Selecting a self-insured retention amount is a matter of risk tolerance. The higher the SIR, the more responsibility the City has in paying direct claims costs rather than relying on the CJPIA member pool to share the costs. By taking on that risk, the City saves a portion of the premiums, or CJPIA member contribution, that would have otherwise been paid. The savings may be used to build up the insurance fund reserve to pay future claims costs. Alternatively, a lower SIR entails less risk of unusually high claim amounts being paid out, but also comes with a higher annual CJPIA member contribution. It is becoming more common for public entities to se lf-insure a portion of both general liability and workers’ compensation programs to contain overall costs. Currently, 14 out of 127 CJPIA member agencies participate in the excess protection program for general liability, with SIR’s ranging from $150,000 to $1,000,000. This represents approximately 11% of all member agencies, up from approximately 2.4% in FY 2016 -17 when the City first joined the general liability excess protection program. Given the City’s strong record of claim management and risk management practices, CJPIA considers the City a strong candidate for a higher SIR and is supportive of the increase. During the eight (8) fiscal years the City has participated in the general liability excess protection program (FY 2016-17 to FY 2023-24), one (1) claim out of 557, or 0.18% of claims, has risen above the $500,000 self -insured retention, and one (1) additional claim that is anticipated to fall above that amount is still pending settlement. Across CJPIA member agencies, claims between $500,000 and $1,000,000 represent 38 claims out of 10,823, or 0.35% of all claims between FY 2019-2024. Therefore, it appears to be low risk to take on a higher self -insured retention level. Staff recommends increasing the SIR from $500,000 to $1,000,000 starting in FY2025- 26. The SIR will remain at $1,000,000 until changed by Council. This means that the City would pay general liability claims up to $1,000,000 before CJPIA begins to pay the “excess” costs beyond $1,000,000. Making this change would result in a savings of approximately $292,000 for the member contribution paid to CJPIA in the first year and ongoing savings thereafter, assuming trends in claim costs remain steady. The new SIR would apply to claims filed July 1, 2025, or later. Expenses for existing claims that are still pending would apply to the previous SIR in place on the date of the claim. Page 217 of 243 Item 5j Previous Council or Advisory Body Action On June 21, 2016, the City Council approved entry into CJPIA’s excess protection program for general liability with a Self -Insured Retention (SIR) of $500,000 to contain insurance costs. ENVIRONMENTAL REVIEW The recommended action is not a “project” under the California Environmental Quality Act, because there is no potential that it will result in a direct physical change or reasonably foreseeable indirect physical change in the environment. FISCAL IMPACT Budgeted: Yes Budget Year: 2025-26 Funding Identified: Yes Fiscal Analysis: Funding Sources Total Budget Available Current Funding Request Remaining Balance Annual Ongoing Cost General Fund N/A N/A N/A N/A State Federal Fees Other: Insurance Fund N/A -292,000 Total $0 $0 $0 $-292,000 In the first year, there will be an immediate savings of approximately $292,000 in general liability program costs, due to a reduced CJPIA member contribution. However, if the City incurs unusually large losses, between $500,000 and $1,000,000, those losses would reduce or eliminate the savings achieved. For example, if expenses for a particular claim total $792,000 during FY 2025-26, then the City would break even compared to the CJPIA member contribution that would have been paid at the current $500,000 SIR. Staff recommends retaining any accrued savings in the insurance fund reserve to pay future claims costs and align the reserve more closely with actuarial recommendations. The City’s Fund Balance and Reserve Policy establishes that the Insurance Fund will maintain funding to cover 150% of the average claim costs for the past five years , which would total $1,307,855 for FY 2019-20 to FY 2023-24. The policy also states that actuarial information will be taken into consideration. Based on the most recent actuarial report dated November 18, 2024, the City should maintain a reserve of $3,392,000 for liability claims and $1,578,000 for workers’ compensation claims, totaling $4,970,000, if funding at a 75% confidence level. Confidence levels, or probability levels, are used by actuaries Page 218 of 243 Item 5j to estimate the probability that funding will be sufficient to cover the costs of current and potential future claims based on trend data available. The insurance fund reserve is anticipated to be $2,891,767 at the end of FY 2024-25. This is below the lowest probability level provided by the actuary, which is 55%, or a reserve of $4,553,000. Higher SIR levels generally result in higher reserve recommendations. ALTERNATIVES 1. Council could decide to make no change to the self-insured retention amount. This would result in a higher member contribution to CJPIA in FY 2025 -26 and future years. It may also be a lower risk option if the City experiences unusually high liability claim losses, above $500,000. 2. Council could direct an increase to an alternative self-insured retention amount, such as $750,000 or $1,250,000. A shift to a $750,000 SIR would result in less savings and less risk compared to the $1,000,000 SIR, and a shift to a higher self- insured retention amount would result in more savings and more risk, as discussed above. ATTACHMENTS A - Draft Resolution authorizing a self-insured retention increase from $500,000 to $1,000,000 for the CJPIA General liability excess protection program. Page 219 of 243 Page 220 of 243 R ______ RESOLUTION NO. _____ (2025 SERIES) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS OBISPO, CALIFORNIA, APPROVING AN INCREASE TO THE SELF- INSURED RETENTION LIMIT WITHIN THE CALIFORNIA JOINT POWERS INSURANCE AUTHORITY’S LIABILITY EXCESS INSURANCE PROGRAM WHEREAS, the City of San Luis Obispo became a member of the California Joint Powers Insurance Authority (CJPIA) in 2004 for participation in the General Liability Primary Insurance Program; and WHEREAS, the City of San Luis Obispo entered CJPIA’s General Liability Excess Protection Program (EPP) in FY 2016-17 with a Self-Insured Retention (SIR) level of $500,000; and WHEREAS, CJPIA’s EPP allows members to select an SIR that best fits their claims experience and ability to appropriately self-insure; and WHEREAS, increasing the City of San Luis Obispo’s SIR limit to $1,000,000 will likely reduce insurance costs when compared to an SIR of $500,000; and WHEREAS, the City of San Luis Obispo’s current Memorandum of Coverage delegates claim settlement authority to CJPIA and the City desires for that to continue; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis Obispo as follows: SECTION 1. General Liability coverage for the City of San Luis Obispo through the Excess Protection Program of the California JPIA (EPP) with an SIR of $1,000,000 is hereby authorized and directed effective July 1, 2025. SECTION 2. The City Manager or their designee is authorized to execute an agreement with Carl Warren and Company in a form subject to the approval of the City Attorney for third party administration services for the general liability EPP, and any other documents required for participation in and administration of the general liability EPP. SECTION 3. Appropriate officers of the City of San Luis Obispo are authorized to pay the annual member contribution for the Excess Protection Program (EPP) to the California JPIA. SECTION 4. The City Manager or designee shall work with CJPIA to fund the appropriate trust accounts to ensure claim settlement amounts within the SIR are available. SECTION 6. The City Manager or designee is authorized to act as the City’s “Authorized Representative” for compliance with “Medicare, Medicaid, SCHIP Extension Act 2007” Section 111. Page 221 of 243 Resolution No. _____ (2025 Series) Page 2 R ______ SECTION 7. The City Clerk shall certify the adoption of this resolution. Upon motion of Council Member ___________, seconded by Council Member ___________, and on the following roll call vote: AYES: NOES: ABSENT: The foregoing resolution was adopted this _____ day of _______________ 20 25. ___________________________ Mayor Erica A. Stewart ATTEST: ______________________ Teresa Purrington City Clerk APPROVED AS TO FORM: ______________________ J. Christine Dietrick City Attorney IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Luis Obispo, California, on ______________________. ___________________________ Teresa Purrington City Clerk Page 222 of 243