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C 1 <br />SIVFR INSURANCE MANAGEMENT CONSULTANTS <br />Mr. James Chandler <br />October 11, 1989 <br />Page Five <br />ANALYSIS PROCEDURE & COMMENTS <br />COMPUTER MODEL <br />In order to analyze the various proposal combinations, <br />we developed a computer model depicting the major ele- <br />ments of a comprehensive program. Our model (which is <br />attached Exhibit A) included all of the coverages and <br />services with the exception of the Boiler & Machinery, <br />Liquor Liability and Watercraft coverages and the run- <br />off claims services. <br />The model does not include some of the individual propo- <br />sals. Rather, where multiple proposals were received <br />for a single coverage, the model only includes the <br />better of the individual proposals submitted. <br />In addition, the model does not include a general liabi- <br />lity proposal from the Florida Association of Counties. <br />The Association proposal did not include any proposal <br />for automobile liability insurance and the only automo- <br />bile liability insurance proposals otherwise received <br />were in combination with the general liability coverage. <br />BEST COST/COVERAGE CONFIGURATION <br />During a meeting in Vero Beach on October 9, 1989, we <br />met with County staff (Jim Chandler, Jack Price, Joe <br />Baird and Beth Jordan) to review the various com- <br />binations and the benefits and shortcomings of each. <br />Aswe discussed during this meeting, column 1 of the <br />Exhibit A depicts the renewal offering from Gallagher & <br />Co. for their package program which is currently in <br />place at the County. Columns 2 through 6 are programs <br />which combine various coverages presented by Gallagher & <br />Co. and the Florida League of Cities. <br />Based on the loss projections provided by Coopers & <br />Lybrand, there was a consensus that the program we are <br />recommending (Option Q depicted in column 6) represented <br />the best cost/coverage combination. <br />CLOSING <br />In our opinion, the recommended program will provide the. <br />County with a cost effective program for its property <br />and liability insurance coverages. <br />We appreciate the opportunity to be of service to Indian <br />River County. <br />Very truly yours, <br />SIV INSURANCE MANAGEMENT CONSULTANTS <br />Sven W. Cordes, CPCU, JD <br />6; <br />m Marshall, CPCU, ARM, JD <br />Enclosure: <br />4009 <br />Exhibit A <br />49 <br />BOOK. 78 FATE 198 <br />