[Icoord] FY2021 INSURANCE RENEWAL PROCESS (BOND/CRIME, MAJOR PROPERTY, OPTIONAL INLAND MARINE AND OPTIONAL AUTO PHYSICAL DAMAGE)

Fri Apr 17 10:18:00 MDT 2020

Good morning,

As a reminder, please enter all major property data into RMIS prior to May 1st so we can start the renewal process. Please see email below and attached instructions for the other renewals which are due June 1st.

Thank you,

Max George
Risk Analyst
Risk Management Program
State of Idaho, Department of Administration
Max.George at adm.idaho.gov<mailto:Max.George at adm.idaho.gov>
(208) 332-1848

Risk Management Mission:  We protect Idaho State assets and employees by providing services and resources that minimize the risk of loss.

From: Max George
Sent: Wednesday, March 18, 2020 10:47 AM
To: icoord at admws.idaho.gov
Cc: Faith Cox <Faith.Cox at adm.idaho.gov>; Kristie Fields <Kristie.Fields at adm.idaho.gov>
Subject: FY2021 INSURANCE RENEWAL PROCESS (BOND/CRIME, MAJOR PROPERTY, OPTIONAL INLAND MARINE AND OPTIONAL AUTO PHYSICAL DAMAGE)
Importance: High

Good morning all agency Insurance Coordinators,

It's that time of year to update your agency's RMIS insurance data for the upcoming FY2021 (July 1, 2020 to July 1, 2021) insurance renewal process for Property, Optional Inland Marine, Optional Auto Physical Damage and Employee Bond & Crime.

Please review the four attached applicable cover letters for additional Renewal Instructions.  You'll need to check your RMIS data and determine whether it is accurate as is, or needs to be modified.

Your agency's FY2020 Major Property values in RMIS have been increased by Risk Management to reflect current replacement cost for FY2021 by applying the following annual inflation factors:

  *   1.05% to buildings
  *   1.05% to contents and stock/supplies.  Mobile equipment values were not inflated since they are reported as ACV "actual cash value".

Additionally, a few agencies request Business Interruption or Loss of Rents coverage.  If you are one of these agencies, please review the RMIS FY2021 data to determine if the figures are adequate or need to be updated for your applicable building locations.

Here are the dates you'll need to remember for updates to RMIS:

  1.  BOND & CRIME

  1.  STARTING NOW - Enter your employee numbers (Class A & B) into RMIS.  Be sure to select the FY2021 drop down on the Bond/Crime data input screen in RMIS.
  2.  BEFORE JUNE 1
i.         Updates must be complete in RMIS by all agencies.
ii.       After your annual update, click "SEND TO RISK MANAGEMENT" button shown on the RMIS Bond & Crime input screen to conclude the renewal process.

  1.  MAJOR PROPERTY

  1.  STARTING NOW - continue all data additions, deletions and/or modifications to major Property in RMIS. Be sure to select the FY2021 drop down on the Major Property data input screen.
  2.  MAY 1 - Risk Management will generate a statewide property data report from RMIS and send to the insurance carrier to start the renewal process.  Risk Management requests all agencies to have most of their property value changes completed in RMIS by May 1.
  3.  BEFORE JUNE 1 - All FINAL property data changes must be complete in RMIS by all agencies.  After your agency has finalized data values in RMIS, click "SEND TO RISK MANAGEMENT" button shown on the RMIS Property input screen to conclude the renewal process.
  4.  On JUNE 1 -Risk Management will generate a second statewide property data report from RMIS and send to the insurance carrier as final "true up" of all statewide values.  This June 1, 2020 report will be utilized to determine each agency's final FY2021 property premium.

  1.  OPTIONAL AUTO PHYSICAL DAMAGE

  1.  STARTING NOW - Make all additions, deletions and/or modifications to auto data in RMIS. Be sure to select the FY2021 drop down on the Major Auto data input screen.
  2.  BEFORE JUNE 1
i.         All automobile data changes must be finalized by agencies in RMIS.
ii.       After your agency has finalized auto data changes in RMIS, click "SEND TO RISK MANAGEMENT" button shown on the RMIS Auto input screen to conclude the renewal process.

  1.  OPTIONAL INLAND MARINE

  1.  STARTING NOW - Make all data additions, deletions, and/or modifications to Inland Marine data in RMIS. Be sure to select the FY2021 drop down on the Inland marine data input screen.
  2.  BEFORE JUNE 1
i.        All Inland Marine data changes must be finalized by agencies in RMIS.
ii.       After your agency has finalized Inland Marine changes in RMIS, click "SEND TO RISK MANAGEMENT" button shown on the RMIS Inland Marine data input screen to conclude the renewal process.

  1.  If your agency does not participate in either the optional auto physical damage or inland marine programs, simply enter into each of the RMIS screens, click the Fiscal Year drop down selecting the "FY2021 coverage year", then click the "GET ALL" button, then click the "NA" button and finally click the "SEND TO RISK MANAGEMENT" button which concludes the process.

Please feel free to call me (332-1848) or Kristie Fields (332-1869) if you have questions.

We appreciate you taking the time to make sure your data is complete and timely.

Thank you!

Max George
Risk Analyst
Risk Management Program
State of Idaho, Department of Administration
Max.George at adm.idaho.gov<mailto:Max.George at adm.idaho.gov>
(208) 332-1848

Risk Management Mission:  We protect Idaho State assets and employees by providing services and resources that minimize the risk of loss.

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