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TO: William G. Collins, II <br />Acting County Administrator <br />DATE: October 25, 1988 <br />SUBJECT: INSURANCE RECOMMENDATION <br />REVISION <br />FROM: Joseph A. Baird <br />OMB Director (L <br />SUMMARY <br />Due to complexity of the insurance proposals, the attached matrix is to <br />help organize the information that was presented. I believe the matrix <br />can be used for comparative purposes for the most part; however, it must <br />be understood that there are other factors (i.e. fine print in insurance <br />documents). I have made recommendations in some cases that do not <br />appear on the matrix because there were renewals of existing carriers <br />that did not bid self insurance and if I left them out it is my feeling <br />we would not be giving a fair analysis. <br />RECOMMENDATION <br />Liability Insurance, Automobile Liability, Worker's Compensation, <br />Equipment Floater. Automobile Collision <br />Remain with the Florida League of Cities under Option One. with <br />$1,000,000 limits. I cannot foresee self insuring at this time for the <br />following reasons: <br />1. In reviewing our history, the majority of our claims <br />have been claims for under $100,000 per occurrence. <br />Maybe two or three have exceeded the $100,000 amount <br />in the last five (5) years. <br />2. If we are considering going self insurance, do not go <br />part way. Make a full commitment and do it entirely <br />and save the big dollars. All the plans are <br />suggesting we set aside considerable amounts for <br />anticipated losses. <br />3. We will have an increased administrative headache with <br />very little savings (possibility of no savings). <br />4. We should implement and have in place good safety <br />programs before committing to self-insured. <br />a. Implement safety procedures <br />b. Hold safety meetings <br />c. Have safety training classes <br />d. Etc. <br />5. We will probably have to add staff to properly control <br />our insurance costs. <br />6. Take more time to evaluate other alternatives of self <br />insurance like issue bonds, pools, etc. which are <br />complex, but could have long term savings. <br />7. County has a lot of new staff in the area of personnel <br />and insurance and they are just getting acquainted to <br />their job and environment. This change over will take <br />away considerable time from other tasks. <br />50 <br />NOV 11988 <br />BOCK PGE 50 <br />