Additional Liability Insurance
Res #: 1-13M
Responses Received: No
Departments: Matters Pertaining to SARM
WHERAS SARM manages the SARM Liability Self-Insurance Plan and provides excess liability insurance through an underwriting company; and
WHEREAS municipalities face numerous liability concerns with the potential of paying out large monetary settlements; and
WHEREAS the company that provides the excess liability through the SARM Plan caps their payouts at 52 million per year, which could be detrimental to an RM if they should have a claim and this company has already reached their cap within any given year;
BE IT RESOLVED that SARM investigate the possibility of having several underwriting companies that would provide excess liability insurance to SARM members at an affordable rate to avoid the possibility of not being covered due to these caps.