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RESOLUTION NO
M M
8,728 •
A RESOLUTION AUTHORIZING THE CITY
MANAGER TO EXECUTE A ONE YEAR RENEWAL
CONTRACT WITH ADJUSTCO, INC. TO PROVIDE
REQUIRED SERVICES TO THE CITY'S
WORKERS, COMPENSATION PROGRAM BEGINNING
JULY 1, 1992.
4068
WHEREAS, this renewal represents the third and final year
of the contract period specified in the Request for Proposal
issued in 1990; and
WHEREAS, Adjustco's proposed rates for the 1992 Workers'
Compensation year result in lower total cost than the 1990
rates submitted by other respondents to the Request for Proposal
issued in 1990; and
WHEREAS, Adjustco continues to provide excellent service to
the City of Little Rock Workers' Compensation program.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: The City Manager is hereby authorized to
execute a one year renewal contract with Adjustco, Inc. for the
final year of the three year contract to provide required services
to the City's Workers' Compensation program beginning July 1,
1992.
ADOPTED: June 16, 1992
ATTEST: V4,tzz elk,
ROBBIE HANCOCK
CITY CLERK
APPROVED AS TO FORM:
THOMAS iS lam' vI r. '-
i
woo,
A -/
ti
410
RESULTS OF RFP RESPONSES
RELATIVE TO WORKERS' COMPENSATION YEAR
COMMENCING 7 -1 -90
1992
RESPONDENT 1990 COST 1991 COST COST PROJECTION
Adjustco $63,000 $72,000 $76,000
CMI 76,000
Frontier Adjusters 89,400
This chart compares projected total program cost based on responses to
the 1990 Request for Proposal and the 1992 renewal proposal from
Adjustco. The figures shown are from the proposals submitted by the
three respondents with the lowest total program from the 1990
responses.
Total costs are based on an average of 450 total claims per year (300
medical only, 150 lost time) and the cost of converting and processing
open claims (174 as of April 30, 1992).