Impact
WARD: Citywide
COMMITTEE: Human Resources
$ IMPACT: 268,979
Title
Approval of renewal with Georgia Municipal Association for 2020 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 2020 premium is based on costs related to payroll and incidents between 2016-2018. For this period, the City experienced a small decrease in incidents and costs, resulting in a slight reduction in the Experience Modification factor (.84 to .83). At the same time, the city experienced a significant increase in payroll in several employment groups. The higher payroll resulted in an increase ini premiums of $21,647 over 2019.
RECOMMENDATION/REQUESTED ACTION: Approval of renewal with Georgia Municipal Association for 2020 Worker's Compensation Insurance Coverage and Administration and authorize Mayor to sign any related documents