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i <br /> ♦ <br /> � • <br /> DEPARTMENT OF FINANCIAL MANAGEMENT <br /> RISK MANAGEMENT DNISION <br /> MEMORANDUM NO. 2004-086 <br /> October 19, 2004 <br /> TO: The Honorable Mayor and City Council Members <br /> FROM: Steve Garm ity Manager <br /> Ron Neufel irector of Financial anagement . <br /> J. Barry Leonard, Risk Manager ; <br /> SUBJECT: CITY PAID LIFE INSURANCE RENEWAL <br /> Every three years, we solicit bids on our City paid life insurance program. We received <br /> bids from the four companies'who bid on the group health renewal and the incumbent provider, <br /> IRM/Acardia. <br /> The best cost was submitted by IRM/Acordia. See chart below. Staff recommends we <br /> renew our life insurance program with IRM/Acordia. <br /> COMPANY CONSOCIATE CCMSI HUBBARD MILLER IRM/ACORDIA <br /> ANNUAL $45,509 $46,399 $46,035 $55,542 $41,707 <br /> PREMIUM <br />