Title
A RESOLUTION APPROVING THE ADMISSION OF THE MUNICIPALITY OF BEACHWOOD, OHIO AS A NEW MEMBER OF THE NORTHERN OHIO RISK MANAGEMENT ASSOCIATION (“NORMA”) SELF-INSURANCE POOL; AND DECLARING AN EMERGENCY.
Executive Summary: The City of Hudson is a member of the Northern Ohio Risk Management Association (NORMA) self-insurance pool. The insurance pool is primarily for property and general liability insurance. The City of Beachwood has requested membership in the pool, which requires formal approval from the current membership.
Body
Legislative History
Ordinance 95-194 established membership in the NORMA self-insurance pool.
Purpose & Explanation
The City of Hudson has been a member of NORMA since 1995. The pool currently consists of 11 municipalities. The City of Beachwood would like to join the group. By admitting Beachwood into the group, the City’s share of the premium would decrease due to fixed costs being shared among a larger group.
Timing Considerations
Our insurance renewal date is October 1, 2017 and we need to have a majority of the current membership approve Beachwood’s admission prior to October 1.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends approval of the City of Beachwood into the NORMA self-insurance group.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Finance Director