HomeMy WebLinkAbout#5285 agreement with illinois counties risk management RESOLUTION NO. 5285
A RESOLUTION APPROVING AN INSURANCE RENEWAL BETWEEN THE CITY OF
CANTON AND ILLINOIS COUNTIES RISK MANAGEMENT TRUST FOR THE POLICY
YEAR DECEMBER 1, 2020 TO DECEMBER 1, 2021 AND DIRECTING THE MAYOR AND
THE CITY CLERK TO EXECUTE AND DELIVER SAID AGREEMENT ON BEHALF OF THE
CITY OF CANTON, ILLINOIS.
WHEREAS, the City Council of the City of Canton, has determined that it is necessary and
in the best interest to renew the insurance agreement between the City of Canton and the Illinois
Counties Risk Management Trust.
WHEREAS,the City Council of the City of Canton, has determined that it is necessary and in
the best interest to renew the insurance with the Illinois Public Risk Fund for the group liability
insurance.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CANTON, ILLINOIS.
1. The Agreement attached hereto and incorporated herein as Exhibit A is hereby approved
by the City Council of Canton.
2. The City shall renew its participation with the Illinois Counties Risk Management Trust
Effective December 1, 2020 to the rates and provisions found within Exhibit A;
3. That the Mayor and City Clerk of Canton, Illinois are hereby authorized and directed to
execute and deliver said Agreement on behalf of the City of Canton.
4. That this Resolution shall be in full force and effect immediately upon its passage by the
City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor
hereof.
PASSED by the City Council of the City of Canton, Illinois, at a regular meeting this 3rd day of
November 2020, upon a roll call vote as follows:
AYES: Aldermen Justin Nelson, Angela Lingenfelter, Jeff Fritz, Angela Hale, Craig West,
John Lovell, Quin Mayhew, Andra Chamberlin
NAYS: None
ABSENT: NoneAPPROV'a;D:
l� nl: well, Mayorm
A'1""1ST:
Diana, av ey-Rock, City Clerk
ACCEPTANCE FORM
Named Insured: Canton, City of
Quote Number: 112-1000562-2021-01
Policy Year: DEC 01, 2020- DEC 01, 2021
Total Annual Premium $235,809
Total Amount Due $230,353
Terms and Conditions
o The Named Insured can only cancel the Policy at program anniversary and only if 90-day prior written
notice of cancellation is given. If required notice is not given, full estimated premium is earned, due
and payable.
• All terms and conditions of membership in the Illinois Counties Risk Management Trust are set forth in
the Trust by-laws. A copy of this document is available for your review
o Per the Membership Agreement, the member must be with the Trust for 12 months prior to
withdrawing and can only withdraw at anniversary date of effective date.
o The following must be received prior to binding:
• Signed Acceptance Form
• Intials Cancellation Clause
• Insured's Contact Information
• Insured's FEIN
• Requested Payment Plan ❑ Annual ❑ 50/50 ❑ 25/6
Acceptance Statement:
Please accept this as a formal confirmation that all terms and conditions, attached scheduled items, and
premiums proposed by the Illinois Counties Risk Management Trust are accepted effective 12/01/2020.
Signa ure of Official Date
t ,
ICRMT INVOICE
Named Insured: Canton, City of
Quote Number: 112-1000562-2021-01
Policy Year: DEC 01, 2020- DEC 01, 2021
Total Annual Premium $235,809
Total Amount Due $230,353
Premium Due by Effective Date of Coverage.
Based upon the payment plan you select,the following down payment is due:
Annual $230,353
50/50 $115,176
25/6 $57,588
------------------------------------------------------------------------------------
Payment Coupon Please Make Checks Payable to:
Named Insured: Canton,City of
Quote Number: R2-1000562-2021-01
Package Premium Remitted:'
Illinois Counties Risk Management Trust
6580 Solution Center
Chicago, IL 60677-6005
1