Title
RESOLUTION AUTHORIZING A ONE-YEAR RENEWAL OF AN AGREEMENT WITH SFM RISK SOLUTIONS, INC., FOR PROFESSIONAL SERVICES FOR THE THIRD-PARTY ADMINISTRATION OF WORKERS' COMPENSATION INSURANCE FOR A TOTAL AMOUNT OF $72,312.
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CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to renew for a period of one year, an agreement substantially in the form attached as Exhibit A, with SFM Risk Solutions, Inc. (SFM) for third party administration of workers' compensation insurance for a total amount of $72,312, payable from 605-036-1650-5319 (self-insurance fund, insurance accounts, insurance administration, other professional services).
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes a one-year renewal of the agreement with SFM to administer the city's self-funded workers' compensation program for the Human Resources Division. SFM works in conjunction with Attorneys and Human Resources to process and manage the City’s work comp claims. The City does not have the staff capacity to manage and complete the expert services that SFM more cost-effectively provides. SFM Risk Solutions, Inc. has been the City’s third-party administrator for workers’ compensation claims since 2014.