HomeMy WebLinkAbout11909RESOLUTION NO. 11909
A RESOLUTION CONSENTING TO PARTICIPATION BY THE
HOUSING AUTHORITY OF THE CITY OF PUEBLO IN THE
COLORADO INTERGOVERNMENTAL RISK SHARING AGENCY
WHEREAS, the City of Pueblo is a member of the Colorado Intergovernmental Risk
Sharing Agency ("CIRSA"), a public entity self-insurance pool providing property/casualty
coverage, workers' compensation coverage, or both, to its members; and
WHEREAS, the Housing Authority of the City of Pueblo is a public entity as said term is
defined in C.R.S. Section 24-10-103.5 (other than the state, a county, a city and county, or a
school district); and
WHEREAS, the Housing Authority of the City of Pueblo has made application for
membership in CIRSA; and
WHEREAS, the City desires to consent to the Housing Authority of the City of Pueblo's
participation in CIRSA;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The City Council hereby consents to participation by the Housing Authority of the City of
Pueblo in CIRSA.
SECTION 2.
A copy of this Resolution shall be forwarded to the Housing Authority of the City of
Pueblo and to CIRSA.
INTRODUCED: June 14, 2010
BY: Judy Weaver /COUNCILPERSON
Background Paper for Proposed
RESOLUTION
# M-10
DATE:
June 14, 2010 AGENDA ITEM
DEPARTMENT:
Office of the City Manager
Jerry M. Pacheco, City Manager
Jenny M. Eickelman, Assistant City Manager
TITLE
A RESOLUTION CONSENTING TO PARTICIPATION BY THE HOUSING AUTHORITY OF
THE CITY OF PUEBLO IN THE COLORADO INTERGOVERNMENTAL RISK SHARING
AGENCY
ISSUE
Should the City Council consent to participation by the Housing Authority of the City of Pueblo in
the Colorado Intergovernmental Risk Sharing Agency (CIRSA)?
RECOMMENDATION
This Resolution is brought forth at the request of HUB International Insurance on behalf of the
Housing Authority of the City of Pueblo and CIRSA.
BACKGROUND
Over the past three years, the Housing Authority has struggled to maintain affordable
property/casualty insurance due to the number of hail storms that have occurred and the high
number of damage claims resulting from those storms. As much as 58% of the buildings
covered by previous insurance policies have been damaged, and as much as $800,000 to
$900,000 of uncovered damage has been realized during the same time period. HUB
International has been forced to go to the marketplace to find appropriate insurance, but
numerous companies have indicated they are not interested. CIRSA is aware of the potential
for hail damage in this area and is willing to provide coverage. With Council’s approval, CIRSA
will provide property/casualty insurance to the Housing Authority and attempt to manage their
losses through the use of affordable deductibles. The new CIRSA premiums will remain
comparable.
FINANCIAL IMPACT
There is no financial impact to the City of Pueblo.