HomeMy WebLinkAbout08/10/1977 FC (insurance commision) minutesVillage of Mount Prospect
Insurance Commission
Minutes of Meeting of August 10, 1977
Meeting was called to order by Chairman Frakes at 7:35 P.M.
Members Present: Terry Frakes, Paul Christoffersen
Absent: Roy Swenson
Others Present: Edward A. Geick, Assistant Village Manager
Richard L. Jesse, Finance Director
Minutes of the meeting of July 14, 1977 were approved as submitted.
Joint Risk Management Study - Phase I and Summary Recommendations:
Members reviewed the Phase I report and recommend the following:
1. Recommend continuation of purchasing Worker's Compensation
coverage based on the review of loss experience during
past 3 years.
2. Recommend duplicating valuable records. Offsite record -
microfilming.
3. Consider self-insurance for physical damage on private
vehicles such as staff and police cars (those vehicles
under $10,000 valuation), providing there would be sub-
stantial reduction of premium cost.
4. Consider business interruption coverage be expanded
to cover the Golf -Busse Shopping Center and Venture -
A & P Shopping Area.
5. Loss prevention program.
6. Pre-employment physicals for new employees in addition
to Police and Fire sworn personnel. Suggests an Ordinance
to require physicals upon employment termination.
7. Safety equipment requirements (hard hats and safety
glasses) for Public Works employees.
8. Property conservation education for all employees.
9. Establish Auto Safety Review Board to review accidents in-
volving Village Employees using Village vehicles & equipment.
10. Require $1,000,000 certificate of insurance for work and
construction type of contracts or agreements (certificate
to include products and/or completed operations).
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11. Village be named as an additional insured -especially in
tree trimming contract - or a waiver of subrogation.
12. Village Board re-evaluate their position on boiler and
machinery coverage.
13. Relating to pages 45 and 46 of report - to present
limits of $500,000 is considered insufficient for the
vast exposures in the Village and should re-evaluate
present position on umbrella coverage to 1 - 5 million
dollars.
In general the Commission has observed the report to be informative
and contains reasonable recommendations. It is recommended the Village
continue into Phase II.
Deferred Compensation:
Finance Director requested to invite representatives of Deferred
Income Plans of America and Radtke Insurance Agency to the next meeting,
September 7, 1977.
Adjournment:
Meeting adjourned at 9:30 P.M.
Paul W. Christoffersen
Secretary