[Icoord] FY2022 INSURANCE RENEWAL PROCESS (BOND/CRIME, MAJOR PROPERTY, OPTIONAL INLAND MARINE AND OPTIONAL AUTO PHYSICAL DAMAGE)

[Max George]

Agency Insurance Coordinators:

It's that time of year to update your agency's RMIS insurance data for the upcoming FY2022 (July 1, 2021 to June 30, 2022) 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 Origami data and determine whether it is accurate as is, or needs to be modified.

Your agency's FY2021 Major Property values in Origami have been increased by Risk Management to reflect current replacement cost for FY2022 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 Origami FY2022 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 Origami:


  1.  BOND & CRIME

  1.  STARTING NOW - Review your employee numbers (Class A & B) in Origami.
  2.  BEFORE JUNE 1
i.         Updates must be complete in Origami by all agencies.

  1.  MAJOR PROPERTY

  1.  STARTING NOW - continue all data additions, deletions and/or modifications to major Property in Origami.
  2.  MAY 1 - Risk Management will generate a statewide property data report from Origami 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 Origami by May 1.
  3.  BEFORE JUNE 1 - All FINAL property data changes must be complete in Origami by all agencies.
  4.  On JUNE 1 -Risk Management will generate a second statewide property data report from Origami and send to the insurance carrier as final "true up" of all statewide values.  This June 1, 2021 report will be utilized to determine each agency's final FY2022 property premium.


  1.  OPTIONAL AUTO PHYSICAL DAMAGE

  1.  STARTING NOW - Make all additions, deletions and/or modifications to auto data in Origami.
  2.  BEFORE JUNE 1
i.         All automobile data changes must be finalized by agencies in Origami


  1.  OPTIONAL INLAND MARINE

  1.  STARTING NOW - Make all data additions, deletions, and/or modifications to Inland Marine data in Origami.
  2.  BEFORE JUNE 1
i.        All Inland Marine data changes must be finalized by agencies in Origami.

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, Department of Administration
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Office: (208) 332-1848
Main: (208) 332-1869
Web: www.adm.idaho.gov/risk<http://www.adm.idaho.gov/risk>


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