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<br />monitoring expenses, crisis management and data recovery. Staff recommends the purchase of
<br />$1 million of protection from AIG at a cost of $17,877.
<br />The table below illustrates the County's historical program.
<br />Indian Fiver
<br />Insurance Costs
<br />Workers' Compensation,
<br />Liabili
<br />Historical
<br />2009-2010
<br />5305,400
<br />Cost Analysis
<br />'
<br />2010-2011 2011-2012 20,12-2013 2013-14 2014-15
<br />5305,000$267,000 $270,471 $271,480 $179,448
<br />Lloyd's of London
<br />Package
<br />NIA
<br />NIA
<br />NIA
<br />N/A
<br />$144,859
<br />S167,348
<br />EMT Liability
<br />$44,004
<br />$44,040
<br />$29,580
<br />$35,7I8
<br />$36,.225
<br />Included in
<br />Lloyd's
<br />Protective & Indemnity
<br />$10,000
<br />$8,147
<br />$8,335
<br />$8,9I0
<br />$8,910
<br />59,134
<br />Property
<br />$1,412,504
<br />$1,350,000
<br />$1,049,34.2
<br />$1,346,292
<br />$1,293,654
<br />$1,099,757
<br />Property excess layer
<br />$132,998
<br />Boiler & Machinery
<br />'$10,339
<br />$12,987
<br />$10,858
<br />$11,434
<br />$11,542
<br />$12,203
<br />Inland Marine
<br />$80,004
<br />$60,840
<br />$42,142
<br />$49,267
<br />$46,909
<br />Crime
<br />$15,190
<br />$9,754
<br />$8,311
<br />$8,419
<br />$6,721*
<br />$6,721*
<br />Terrorism - Property
<br />$47,900
<br />$30,000
<br />$17,769
<br />$18,000
<br />$16,461
<br />S15,195
<br />Terrorism - Liability
<br />Incl.
<br />$9,950
<br />$7,461
<br />$30,518
<br />$28,992
<br />$29,225
<br />Cyber Liability
<br />$17,877
<br />Totals
<br />51,840,929
<br />$1,845,838
<br />$1,459,416
<br />'$1,771,904
<br />$1,867,711
<br />111,716,773
<br />Note: The amounts in the table above are based upon the premiums in effect at the time of renewal far previous
<br />years. The Recommended 2014-I5premium amounts are based upon selection of Option 2, which Inas some
<br />differing coverage from the current year as detailed herein. The recommendation also includes the purchase of a
<br />cyber liability policy with a premium of $17,8 77.
<br />*Crime policy paid in 2013/14for $13,442 covering 2 -year term, This premium has been allocated across 2013-14
<br />and 2014-15 period
<br />Funding
<br />Funding for the insurance coverage discussed herein is provided by the Self Insurance Fund,
<br />Other Insurance account (acct. number 50224613-034530). The Self Insurance Fund is an
<br />internal service fund that allocates charges to the County's user funds. The current year budget
<br />includes funding in the amount of $2,375,000 for excess insurance premiums.
<br />Alternatives
<br />Alternative 1 - Select option 2 presented by the broker and also purchase the Cyber Liability
<br />policy which has an annual premium of $17,877. This option increases Named Storm limits
<br />from $25 million to $35 million. Worker's Compensation coverage would be provided by Safety
<br />National with a $750,000 Self -Insured Retention (SIR) for all employees, except USL&H &
<br />.Tones Act coverage would carry a $1 million. The current SIR is $750,000 for police and fire
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