SUBJECT/RECOMMENDATION:
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Approve participation and subscription in the ISO ClaimSearch for Non-Insurers Database effective January 1, 2018 through December 31, 2018, pursuant to City Code Section 2.564 (l) (i), services associated with Risk Management Casualty and Liability claims services; approve a not-to-exceed total of $10,000 for the annual membership fee and as-needed claim search fees; and authorize the appropriate officials to execute same. (consent)
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SUMMARY:
The Risk Management Division of the Finance Department would like to participate and be a member of the ISO ClaimSearch database for Casualty and Claims Inquiry, which would allow Risk Management Specialists to determine if claimants who have filed claims against the City of Clearwater for bodily injury or workers compensation claims have had previous and/or current accidents nationwide.
This database is shared by most insurance companies, third party administrators and municipalities in the industry who administer claims and is considered part of best practices in claims management and severity control. ISO is a single source provider of this service and its reputation and quality of product are well known in the industry. This web based search and report tool is particularly effective in identifying professional claimants.
There is a $7.65 per claim fee for claims submitted to the database for research, along with an annual membership fee of $1,100. Claims reports received will be accessed through a web portal.
Staff is requesting approval of a not-to-exceed amount of $10,000 to cover expected searches for calendar year 2018, based on our fiscal year 2017 claims experience. This not-to-exceed amount also includes the annual membership fee of $1,100.
The agreement does include an auto-renewal provision with a 90-day cancellation clause.
APPROPRIATION CODE AND AMOUNT:
Funding is available in the Central Insurance Fund budget for the not-to-exceed balance.
Account # 590-09830-557100-519-000-0000 $1,100
Account # 590-09830-530300-519-000-0000 $8,900