HomeMy WebLinkAboutDecember 17, 2020 - Council - AddendumTHE CORPORATION OF THE MUNICIPALITY OF BAYHAM COUNCIL MEETING ADDENDUM MUNICIPAL OFFICE Thursday, December 17, 2020
11.2 Reports to Council
A. Report CAO-50/20 by Paul Shipway, CAO|Clerk re 2021 Insurance Renewal
REPORT
CAO
TO: Mayor & Members of Council
FROM: Paul Shipway, CAO|Clerk
DATE: December 17, 2020
REPORT: CAO-50/20
SUBJECT: 2021 INSURANCE RENEWAL
BACKGROUND
On December 20, 2018, the Council of the Corporation of the Municipality of Bayham passed the
following resolution:
THAT Report CAO-78/18 re 2019 Insurance Renewal be received for information;
AND THAT the 2019 Municipal Insurance Program be obtained from Frank Cowan
Company Limited in accordance with the offer to renew dated October 29, 2018, at a total premium of $126,649 plus applicable taxes.
AND THAT staff be directed to issue a Municipal Insurance Program Request for Proposals (RFP) process in July 2019 for the 2020 Municipal Insurance Program.
On November 21, 2019, the Council of the Corporation of the Municipality of Bayham passed the
following resolution:
THAT Report CAO-63/19 re RFP 19-01 Insurance & Risk Management Services be received for information;
AND THAT the 2020 Municipal Insurance Program be obtained from JLT Canada.
For informational purposes the results of RFP 19-01 was as follows:
Proponent Total Annual Premium Total Score
BFL Canada $210,417 Not Scored
Frank Cowan Company $153,307 82
JLT Canada $118,428 85
DISCUSSION
On December 17, 2020, the Municipality of Bayham received its 2021 Municipal Insurance Renewal in the amount of $158,351 plus applicable taxes from Marsh Canada Limited (formerly JLT Canada).
The overall property insurance market pricing has been impacted by the events of 2020. Additionally, the Municipality of Bayham loss ratio and claims history is high. Across Elgin County, premium increases have been 16%-34%. The 2021 Insurance Program contemplates minor
wording changes and exclusion of cyber liability from general liability. The Municipality of Bayham does not have standalone cyber liability insurance at this time.
RECOMMENDATION
1.THAT Report CAO-50/20 re 2021 Insurance Renewal be received for information;
2.AND THAT the 2021 Municipal Insurance Program be obtained from Marsh Canada Limitedin accordance with the offer to renew dated December 17, 2020, at a total premium of$158,351 plus applicable taxes.
3.AND THAT staff be directed to review insurance coverages and insurance providers in 2021prior to the 2022 insurance renewal.
Respectfully Submitted by:
Paul Shipway CAO|Clerk