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Indian River County, Florida <br />Memorandum <br />TO: Joseph A. Baird, County Admini <br />THRU; Jason Brown, Director, OMB <br />FROM: Beth Martin, Risk Manage <br />DATE: March 25, 2014 <br />SUBJECT: Request for Agenda; Property/Casualty Insurance 2014-15 <br />Please consider the following for inclusion on the April 1, 2014 Board of County <br />Commissioners' agenda, <br />Backgrounds <br />On April 12, 2011, the Board of County Commissioners approved the current excess <br />property/casualty insurance program following a Request for Qualifications for insurance <br />services and review of the submittals by Siver Insurance Consultants. Arthur J. Gallagher Risk <br />Management Services, Inc. (AJG) implemented the current program and with staff, recommends <br />the renewal program as described below and found in detail in the full proposal available for <br />review in the Commission office, <br />Analysis <br />Renewal discussions began in October, 2013. Our goals were two -fold: maintain coverage <br />necessary to protect the County's assets and control costs for doing so. Market conditions over <br />the past twelve (12) months were more favorable than past years, with stable pricing and rates, <br />low industry losses and new market entrants. The most difficult line of coverage remained <br />workers' compensation because of the losses anticipated with firefighters and police presumption <br />claims arising from what is commonly referred to as the Heart/Lung Bill. As a result, staff <br />anticipated workers' compensation to require increased self insured retentions and rate increases. <br />39 <br />