Impact
WARD: Ward
COMMITTEE: Human Resources
$ IMPACT: $273,690
Title
Approval of renewal with Georgia Municipal Association for 2018 Worker's Compensation Insurance Coverage and Administration and authorize Mayor to sign any related documents
Body
ISSUE: The city is required to carry WC insurance for its employees. This insurance coverage must be renewed annually with an effective date of January 1st of the upcoming calendar year.
BACKGROUND: The city is required to carry WC insurance for its employees. This insurance coverage must be renewed annually with an effective date of January 1st of the upcoming calendar year.
Currently the City is covered by GMA's program. Annually, GMA reviews the cost of incidents over a 3-year period. The 2018 premium is based on costs related to payroll and incidents between 2013-2016. For this period, the City experienced a decrease in incidents and costs (3rd year in a row), resulting in a reduction in the Experience Modification factor (.92 to .79). Even with increased payroll, the experience modifcation factor will provide the City with a 13% reduction in premiums for 2018 ($39,952 savings).
RECOMMENDATION/REQUESTED ACTION: Approval of renewal with Georgia Municipal Association for 2018 Worker's Compensation Insurance Coverage and Administration and authorize Mayor to sign any related documents