HomeMy WebLinkAboutResolutions - 1960.09.19 - 19287Fire and Allied Lines
Year
1957
1958
1959
Cost of
Coverage
$ 8,165.55
10,897.55
13,867.65
Amount of
Coverage
$ 7,551,000
9,297,775
12,108,404
1957
1958
1959
$ 4,933.12
5,028.12
5,009.82
Various
Various
Various
RESOLUTION September 19, 1960
BY: Mr. Carey
IN RE: REPORT RE COUNTY INSURANCE PROGRAM
TO THE OAKLAND COUNTY BOARD OF SUPERVISORS
Mr. Chairman, Ladies and Gentlemen:
At a meeting of the Board on May 2, 1960, your Ways and Means Committee was
authorized by Miscellaneous Resolution 3654 to make a thorough study of the present insurance
plan of the County and obtain information on the advisability of County self insurance and
report back to the Board.
Pursuant to the authorization of said resolution a study was undertaken and several
counties of comparable size were contacted. Information was also obtained on the present
insurance coverage for the County and loss payments made by the insurers during the past
three years.
Following is a summary of the cost of insurance coverage and loss payments for the
various insurance policies carried by the County:
Insurance Coverage for Oakland County and Loss
Payments for Last Three Years
Casualty - including Money & Securities, Boiler, General Liability, Garage Lia
Non Ownership and Hired Car Liability
Year
Losses Paid
Premium by Company Coverage Company
Losses incurred on above policies:
Fire and Allied Lines
$ 771.79
5,024.76
1,600.76
Casualty: 3- ear total - Includes reserves set up for losses not yet settled
1957
1958
1959
1957, 1958, 1959
Automobile Fleet Policies
$5,580.47
1957 Auto Owners
1958 Auto Owners
Bodily Injury $100,000-$300,000 $6,833.84 $5,461.51
Property Damage $20,000
Collision - $100 Deductible
Comprehensive - Wind Fire and Theft
Bodily Injury $100,000-$300,000 $6,939.47 $5,156.12
Property Damage $20,000
Collision - $100 Deductible
Comprehensive - Wind, Fire and Theft
1959 Nationwide Mutual Bodily Injury $100,000-$300,000 $5,769.30 $7,900,27
Property Damage $20,000
Collision - $100 Deductible
Comprehensive - Wind, Fire and Theft
Totals $19,542.61 $18,517.90
Workmen's Compensation Insurance
Claims Paid and
Year Company Premium Liabilities Reserved*
1957 Michigan Mutual Liability Company $14,907.97 $12,562.00
1958 Michigan Mutual Liability Company 22,705.62 41,425.00
1959 Michigan Mutual Liability Company 26,502.12 8,647.00
Totals $64,115.71 $62,634.00
Includes Medical and Compensation actually paid to claimants on closed and pending cases
and reserves set up to handle future payments to pending cases. All payments made in
succeeding years are and will be credited to the year in which the liability was incurred.
John L. Carey
David Levinson, Chairman
Amo L. Hulet
Harr}, IT Horton
Frank J. Vol!: Orph C. Holmes
The survey of other counties indicates that several are now self insured as to workmen's
compensation. A few are self insured as to other hazards.
In view of the County's experience as a self insurer for workmen's compensation prior
to 1955, your Committee does not recommend that a change be made in this coverage at the
present time. By the adoption of Miscellaneous Resolution 2970 on January 21, 1955, the
County switched from self insurance to an insurer after considerable study.
Likewise in view of the loss payments which have occurred in the several other hazards
covered by County insurance for the past three years as reported herein, your Committee does
not recommend self insurance for these hazards.
MR. CHAIRMAN, on behalf of the Ways and Means Committee, I move that the
foregoing recommendations be approved by this Board and that this report be considered a
report in compliance with Miscellaneous Resolution 3654,
WAYS AND MEANS COMMITTEE