10/17/1989 - Laserfiche WebLink

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BOOK '8 ME 199 Risk Manager Beth Jordan gave a brief overview of the recommendations made by Siver Insurance Management Consultants, and advised that staff would like to make one small change which would be to place the boiler and machinery coverage with the local firm of Schlitt Insurance Services, Inc. Jim Marshall of Siver Insurance Management Consultants emphasized that Siver does not sell insurance and does not have any interest in where the County places their insurance except to see that it is in the best interests of the County's program. In addition to their coverage proposals, they are recommending that the County get an actuarial report from Coopers & Lybrand to determine to the very best extent possible the County's ability to self insure risk. With regard to property liability, Sivers would never recommend that the County ever insure their own county property on liability, and are recommending that county property coverage be placed with the Florida League of Cities. The proposal they are recommending will save $264,000 in overall premium costs. Administrator Chandler felt we made a very good step last year when we went with a partially self-insured program and are in a very good position of going to a second stage of assuming a little more risk. He felt Mrs. Jordan did an excellent job in putting this package together, and pointed out that this recommendation is by no means a reflection on Gallagher -Bassett who did a great job in our first year of self insurance. Commissioner Bird asked if we will be hiring Siver to do this analysis for us every year, but Administrator Chandler did not expect that we would need to hire an outside firm to do a study for the next couple of years. What we are aiming to do is establish some stability, and that is why we agree that we should have an actuarial update done every year. Commissioner Bird asked what we saved last year by being partially insured, and OMB Director Joe Baird explained that 50