TO: Board of Directors
FROM: Steven Lederer - Manager
Upper Valley Waste Management Agency
REPORT BY: Steven Lederer - Manager
Upper Valley Waste Management Agency
SUBJECT: Insurance
RECOMMENDATION
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INSURANCE
DISCUSSION AND REQUESTED ACTION: Approval and acceptance of the Agency's proposed insurance coverage.
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EXECUTIVE SUMMARY
The Agency has been offered a renewal of its Two Million Dollars General Liability Insurance policy which covers the Agency’s activities. The policy cost is estimated to be $2,500, a roughly $20 increase from last year.
Our insurance carrier is Golden State Risk Management Authority, which also covers many other public agencies.
FISCAL & STRATEGIC PLAN IMPACT
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Is there a Fiscal Impact? |
Yes |
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Is it currently budgeted? |
Yes |
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Where is it budgeted? |
Upper Valley Waste Management Agency |
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Is it Mandatory or Discretionary? |
Discretionary |
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Discretionary Justification: |
While not required, a small investment in insurance appears to be a wise investment. |
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Is the general fund affected? |
No |
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Future fiscal impact: |
None |
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Consequences if not approved: |
The Agency would not be insured and would be liable for the full amount of any successful claims. |
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: The proposed action is not a project as defined by 14 California Code of Regulations 15378 (State CEQA Guidelines) and therefore CEQA is not applicable.
BACKGROUND AND DISCUSSION
None additional.