ITEM TITLE:
#25-17 - Authorizing the Execution of a Cooperative Participation Agreement Among Alaska Municipalities and School Districts Creating Alaska Public Risk Alliance (APRA)
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: none
Unencumbered Balance: Click here to enter text.
Funding Source: Click here to enter text.
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
The attached resolution and Cooperative Participation Agreement (“CPA”) formalize the City’s and School District’s participation in the Alaska Public Risk Alliance (APRA) insurance pool, pursuant to AS 21.76.
Historically, the City and School District have bound coverage through Alaska Municipal League Joint Insurance Agency (AMLJIA) and Alaska Public Entity Insurance (APEI). Respective boards of AMLJIA and APEI have voted to merge and create APRA.
The City and School District will continue to utilize a broker to ensure coverage available through the risk pool are in line with broader market and private insurance options.
The agreement has been reviewed and approved by legal