HomeMy WebLinkAbout31950 / 82-12June 17, 1982
l6 12 RESOLUTION
PURPOSE: WORKERS' COMPENSATION INSURANCE
I:VITIATED BY: DEP.4RT.'SE:IT OF ADMIVZSTitATION
BE IT RESOLVED by the Co�on Council of the City of Oshkosh that the proper
City officials are hereby authorized and directed to enter into an agree-
ment with Employers Insurance of Wausau for Workers` Compensation Insurance
as specified on the attached proposal. Money for this purpose is hereby
appropriated from Account No. 012-613, Workers' Comyensation Account.
SUBMITTED BY
APPRO �'ED��� -�it�
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Loss
Ratio
20%
30
40
50
60
PROPOSAL OF EMPLOYERS INSURANCE OF WAUSAU ���
CITY OF OSHKOSH, WISCONSIN, AND THE �
BOARD OF EDUCATION OF THE OSHKOSH JOINT SCHOOL DISTRICT
Retrospective Coet Comparison
3—Year Basis $770,064 Estimated Standard Premium
Gross
Minimum .600
Maxim� 1.250
Basic Premi� Factor .141
Loss Conversion Factor 1.20
Tax Multiplier 1.038
Dollar Losses
at Loss Plan
Ratios Shown Gross Premium
$154,012 $462,038 min.
231,019
308,025
385,032
462,038
462,038 min.
496,380
592,300
688,213
Net Premium*
Net
.425
1.075
.029
1.246
$327,362 min.
327,362 min.
361,704
457,624
553,542
70 539,044 784,137 649,461
80 616,051 880,057 745,381
90 693,057 962,580 max. 827,904 max.
*Net premium represents the net cost after allowing for expected dividend,
which is currently 17.5 percent, and is based solely upon the company's
past experience and cannot be guaranteed or estimated for the future.
Dividends will be based and payable on standard premium.
Minimum premium will cover a loss ratio of: 36.4%
Maximum premium reached at a loss ratio of: 88.6%
Substantial change in e�cposure will affect the factors in this plan. Any
change of this nature should be studied to determine what effect it will
have on the plan.
fHE MONROE AGENCY� 1 NC.
���
PHONE (4'Kll 23'1-5727 •'14290REGON STREET • OSHKOSH, WISCONSIN 54901
= IRII�iAI•IS PU�TD 3-YE.4R VI,RLiBI� F��'TEi1TI0iT RETF20
BA,SED ON PRIT42UM OI�': � �256,']23
Minimum Premium: j5;� -
i' Maximum Prenium:
Tax Multiplier:
96. 7°'
��
; 1.038
Retention: .1668
Loss Conversion Factor:� 1.15
Loss Ratio
10°5
2o�s
30%�
4oa
CON
, ,o
�A
66. 5`�
Losses Plus
T�Ci� Plus
Tax I�Sulti�lier
iE 30 , 641
i# 61,Zaz
� 91,922
�122,563
# 1:3 � �4
;�183,845
S2o3,774
ii81,662
- $5240,038
Cash Floi��
Estimated rinnual Prer�ium:
Pre:�ium Deferral:
Prenium Due:
Payable: Down -
Eleven payments of
Company
Retention
iL4 � 443
5�+4,1+�+3
�44,443
;4�I-, 443
��w-, w+3
,>44, 443
9�44, 443
Estinated
ilet Cost
To Insured
S 81,662
� 97::46
;�128,186
_5158,827- -
..&i89�458 : .
;�220 ,109
�24o,03s .
�256,'723 �
;T Eu,000
=��92,?23
,� 16,063
;i 16,060
Premiums and Cash Flo�•i e�ill be adjusted ei�ht months after
ex�iration date.
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