title
CC - CONSENT ITEM: Approval of Annual Insurance Policy Renewals for the City's Insurance Portfolio for Fiscal Year 2025 - 2026 with a Premium of Approximately $3,982,989, as Presented by City's Insurance Broker Alliant Insurance Services, Inc.
body
Meeting Date: June 23, 2025
Contact Person/Dept.: Rasheedah Johnson, Risk Manager /Human Resources
Phone Number: (310) 253-5640
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (06/19/2025)
Department Approval: Dana Anderson, Human Resources Director (06/03/2025)
_____________________________________________________________________
RECOMMENDATION
Staff recommends the City Council (1) approve the recommended Fiscal Year 2025-2026 Insurance Policy Renewal Program with a premium of approximately $3,982,989, as presented by the City's insurance broker Alliant Insurance Services, Inc
BACKGROUND
The City of Culver City (City) contracted with Alliant Insurance Services, Inc. (Alliant) to purchase insurance coverage for the City, effective January 1, 2025. 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 $3,982,989, which is 8% less costly than the current year while providing the same lev...
Click here for full text