City of Nashua
Administrative Services Division (603) 589-3020
229 Main Street - Nashua, NH 03060
Ta: Mayor Donchess
Finance Committee
Date: June 27, 2022
Re: Stop Loss Coverage FY23
This request is approval of a contract with QBE Insurance Corporation for the City of Nashua’s Excess
Loss Policy, otherwise known as Stop Loss.
Funding: Benefits Fund 13.6600.890- 59615 Stop Loss Coverage $1,905,516.
For FY22 the City of Nashua contracted with Anthem Blue Cross Blue Shield for its annual Stop loss
coverage at an annual rate of $1,588,668. Upon notice of a substantial increase for FY23, the City
received bids through our broker, Workplace Benefit Solutions. QBE Insurance Corporation
Company, the lowest bidder, has offered the City comparable coverage at an annual premium of
$1,856,316 plus $49,200 for a set up and Stop Loss Interface fee, totaling $1,905,516. All other
terms will remain the same, including the claim threshold of $350,000. The current pricing is
dependent upon the number of participants, currently 2,050 at a rate of $75.46.
Currently there is $1,940,000 budgeted for FY23 in the Stop Loss Coverage Premium line of the
Benefits Fund.
Kimberly Kleiner
Administrative Services Division Director
Cc K. Parkinson
