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Finance staff reports $2.6 million in insurer reimbursements; commissioners press for KPIs and steady reporting
Summary
Finance staff told the commission that seven of eight large liability claims have been reimbursed, producing roughly $2.6 million in deposits and leaving about $249,235 outstanding; commissioners asked for monthly KPIs, clearer accrual practice and ongoing quarterly follow-ups with the city’s third-party administrator.
South Pasadena Finance Commission members heard an update on the city’s insurance recoveries and risk-management processes on a meeting agenda item introduced by finance staff.
Finance staff reported the city is pursuing reimbursements on eight liability claims that exceeded the insurer’s $100,000 threshold. “We found that there was a total of 8 claims that met that threshold,” staff said, and that the city has received reimbursements “about $2,600,000 of reimbursements in the month of October alone.” The staff update said seven of the eight claims have been paid and deposited; about $249,235 remains outstanding and staff expects that remaining check within a week.
The update tied the increase in collected reimbursements to several changes in how claims are handled: the city has added a dedicated risk manager and a senior analyst supporting risk, is documenting the end-to-end claims process in desk manuals, and has increased…
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