ITEM TITLE:
Title
Consider approving the renewal of the contract with Zurich to provide Accidental Death and Dismemberment and Loss of Use coverage for City of Lawton employees effective July 1, 2024, and authorize the Mayor and City Clerk to execute the contract.
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INITIATOR: Craig Akard, Human Resources Director
STAFF INFORMATION SOURCE: Craig Akard, Human Resources Director
BACKGROUND: The City of Lawton provides Accidental Death and Dismemberment and Loss of Use coverage for employees. The current contract with Zurich will be expiring June 30, 2024. Our broker, Insurica, contacted Zurich to ascertain whether Zurich would be willing to renew or if their rates were going to change. Zurich responded that they were willing to renew the contract with the same terms and costs. The original contract effective July 1, 2023, is valid, to include the rates, until July 1, 2026 should the Council decide to renew the contract through June 30, 2025. The contract listed as an exhibit has been approved by the City Attorney's office.
EXHIBIT: Zurich Accidental Death and Dismemberment and Loss of Use Proposal and Zurich Accidental Death and Dismemberment and Loss of Use Agreement
KEY ISSUES: Does the City of Lawton wish to renew the contract with Zurich for Accidental Death and Dismemberment and Loss of Use coverage.
FUNDING SOURCE: General Fund
STAFF RECOMMENDED COUNCIL ACTION: Approve renewing the contract with Zurich for Accidental Death and Dismemberment and Loss of Use coverage for City of Lawton employees and authorize the Mayor and City Clerk to execute the contract.