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CC - CONSENT ITEM: Approval of Policy Renewal for Property Insurance Coverage Through Alliant Insurance Services with a Premium of Approximately $4,481,291.00 for Fiscal Year 2026 - 2027.
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Meeting Date: June 22, 2026
Contact Person/Dept.: Rasheedah Johnson/ Human Resources
Dana Anderson/Human Resources
Phone Number: (310) 253-5680
Fiscal Impact: Yes [x] No [] General Fund: Yes [] No [X]
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (6/17/2026)
Department Approval: Dana Anderson, Chief Human Resources Officer (06/01/2026)
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RECOMMENDATION
Staff recommends the City Council approve the recommended Fiscal Year 2026-2027 Insurance Policy Renewals, through Alliant Insurance Services, with a premium of approximately $4,481,291.00, plus taxes and fees for a one-year period beginning on July 1, 2026, and ending June 30, 2027.
BACKGROUND
The City is self-insured and annually purchases lines of insurance coverage to minimize the adverse effects of accidental losses and claims against the City.
The City is self-insured for major risk programs such as property, liability, excess earthquake, flood liability, general liability, auto, workers' compensation and other lines of insurance. To protect the assets of the City from potential loss, the City purchases various lines of insurance coverage for these risks. To assist in the purchase of various lines of insurance, the City entered into an agreement with Alliant for professional insurance brokerage services.
DISCUSSION
Alliant has marketed the City's insurance program to carriers and has solicited pricing amounting to $4,481,291.00, which is 29% less costly than the current year while providing the same level of coverage for all policies with the exception of enhanced coverage levels for Flood/Earthquake and Property insurance covera...
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