HomeMy WebLinkAbout1986-06-26 86-290 ORDERBY the LEtf Coaswil of the My ofBadgw:
ORDERED,
THAT the Finance Director is authorized to contract for Excess Workers'
Compensation coverage with the following limits:
Specific Retention $500,000 -
Specific Limit of�--
Liability -
Aggregate Retention No Coverage
Aggregate Limit of -
Liability No Coverage
AND DE IT FURTHER ORDERED:
THAT the Finance Director is hereby instructed to obtain approval from
the Insurance Commissioner Of the State of Naive for the above program.
Statement of Fact: The insurance market is in a state of turmoil and the levels
of coverage available foxworkercompensation have changed drastically
from our present policy. For F/Y1986 we have had the following limits:
Specific Retention $250,000
Specific Limit of
Liability Statutory (no limit)
Aggregate Retention -]OF of Manual Premium
Aggregate Limit of
Liability Statutory (no limit)
Manual premium equals $780,000.
Aggregate retention equals = $546,000.
86-290
Introduced
by Councilor Sullivan, sone 26, 1986
CITY
OF
BANGOR
(TITLE.) (orieri
Authorizing Deduction. m
.....
Level f
Excessworkers' Compensation
............_.. ...........
BY the LEtf Coaswil of the My ofBadgw:
ORDERED,
THAT the Finance Director is authorized to contract for Excess Workers'
Compensation coverage with the following limits:
Specific Retention $500,000 -
Specific Limit of�--
Liability -
Aggregate Retention No Coverage
Aggregate Limit of -
Liability No Coverage
AND DE IT FURTHER ORDERED:
THAT the Finance Director is hereby instructed to obtain approval from
the Insurance Commissioner Of the State of Naive for the above program.
Statement of Fact: The insurance market is in a state of turmoil and the levels
of coverage available foxworkercompensation have changed drastically
from our present policy. For F/Y1986 we have had the following limits:
Specific Retention $250,000
Specific Limit of
Liability Statutory (no limit)
Aggregate Retention -]OF of Manual Premium
Aggregate Limit of
Liability Statutory (no limit)
Manual premium equals $780,000.
Aggregate retention equals = $546,000.
IW CITY COUNCIL
June 26, 1986
Passed as Amam ed. AOaniad
by aiding after 'Specific Limit
ability" 00
ITI
ability"
AK
86-290
e ROER
Title,
AutTomly
Reduction
In
Level
of
Excess
Workers' Compensation.
......................................
IInntroduced�($/�,td �Rled by
/ Councilman
By the City CdUMOU of the City OfBampar
ORDERED,
THAT the Finance Director is authorized to contract for Excess Workers'
Compensation coverage with the following limits:
Specific Retention $500,000 ,. ,�sv�
Specific Limit of $444, te-w_ "`
Liability
Aggregate Retention NO Coverage -
Aggregate Limit of
Liability No Coverage
AND RE IT FURTHER ORDERED;
THAT the Finance Director is hereby instructed to obtain approval from
the Insurance Commissioner of the State of Maine for the above program.
Statement of Fact The Insurancemarket Is i state of turmoil and the levels
of coverage available forexcessworkers' CDmpensation have changed drastically
it= our present policy. For F/Y 1986 we have had the following limits:
Specific Retention $250,000
Specific Limit of
Liability statutory (no limit)
Aggregate Retention 70% of Manual Pension '
Aggregate Limit of
Liability Statutory (no limit)
Manual premium equals $780,000.
Aggregate retention equals = $546,000.
86-290,
Introduced by Councilor Sullivan, awe E6, 1966
_p
CITY
OF
BANGOR
QITLE.) or1>eT
Authorizing Reduction In
Level of
Excess Workers' Compensation
By the City CdUMOU of the City OfBampar
ORDERED,
THAT the Finance Director is authorized to contract for Excess Workers'
Compensation coverage with the following limits:
Specific Retention $500,000 ,. ,�sv�
Specific Limit of $444, te-w_ "`
Liability
Aggregate Retention NO Coverage -
Aggregate Limit of
Liability No Coverage
AND RE IT FURTHER ORDERED;
THAT the Finance Director is hereby instructed to obtain approval from
the Insurance Commissioner of the State of Maine for the above program.
Statement of Fact The Insurancemarket Is i state of turmoil and the levels
of coverage available forexcessworkers' CDmpensation have changed drastically
it= our present policy. For F/Y 1986 we have had the following limits:
Specific Retention $250,000
Specific Limit of
Liability statutory (no limit)
Aggregate Retention 70% of Manual Pension '
Aggregate Limit of
Liability Statutory (no limit)
Manual premium equals $780,000.
Aggregate retention equals = $546,000.
COMPANY SPECIFIC RETENTION
GENERAL FE $500,000.
GENERAL RE $350,000.
A. F. G. $500,000
E. R. C.
E. R. C. ---
Manual premium - $780,000.
CITY OF
BANGOR
SPECIFIC
ANN=
LIHIT OF LIABILITY
AGGREGATE RETENTION
PRBIQBM
5,000,000
157% of *manual
S
premium ($1,224,600)
5,000,000
137% of manual
1,000,000
premien ($1,068,600)
2,000,000
----
---
215% of manual
----
premium ($1,677,000)
3,000,000
---
AGGREGATE
ANN=
LIM OF LIABILITY
PRBIQBM
1,000,000
100,000 -
S
25,000 -
A
1,000,000
164,700 -
S
25,000 -
A
----
50,000 -
S
5,000,000
78,700 -
A
---
27,573 -
5
'Beggar, 'be rarer of Maine... the Gateway to Mace's North Waads and Seashore Raom
June 34, 1986
TO TRE HEMERE OF THE CITY COUNCIL:
notice is hereby given that a special meeting of the City Council will be heW in
the Council Room,
City Hell, Bangor,._,_,'
Tax Commitment nook for Fiscal Year 1986-1987
stunts for 1986/1987
66-390 CeZR - Authorizing Reduction. in Level of Excess Workers' Compensation
/ 1 aeQm F 0.2
Cha -1 of the Cit council