INSURANCERECOMMENDED

Santa Barbara MTD Board of Directors Meeting Agenda May 2026

Excess Workers’ Comp Insurance Renewal via PRISM

Deposit premium not to exceed $309,000Santa Barbara Metro Transit DistPUBLIC RISK INNOVATION, SOLUTIONS, & MANAGEMENT (PRISM)May 4, 2026

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Description

Santa Barbara MTD staff recommends renewal of its Excess Workers’ Compensation insurance coverage through PRISM for July 1, 2026 to July 1, 2027, with a self-insured retention of $250,000 and a deposit premium capped at $309,000.

Contract Details

Contract Amount

Deposit premium not to exceed $309,000

Vendor

PUBLIC RISK INNOVATION, SOLUTIONS, & MANAGEMENT (PRISM)

Agency

Santa Barbara Metro Transit Dist, CA

Contract Type

INSURANCE

Document Date

May 4, 2026

Contract Term

July 1, 2026 – July 1, 2027

Renewal Date

2027-07-01

Renewal Info

Recommended renewal of existing PRISM excess workers’ compensation coverage for one year; future renewals would be subject to Board action.

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Issuing Agency

Santa Barbara Metro Transit Dist

Special District

Santa Barbara, CA

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Vendor