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Indian River Historical Cost Analysis
<br /> Insurance Costs 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014
<br /> Workers' Comp. $1,045,187 $305,000 $305,000 $267,000 $270,471 $402,770
<br /> Liability/Package
<br /> EMT Liability N/A $40,000 $40,000 $29,580 $35,718 $36,225
<br /> Protective& N/A $10,000 $8,147 $8,335 $8,910 $8,910
<br /> Indemnity
<br /> Property $1,950,000 $1,412,500 $1,350,000 $1,049,302 $1,346,292 $1,293,822
<br /> Boiler&Machinery $14,651 $10,339 $12,987 $10,858 $11,434 $11,542
<br /> Inland Marine N/A N/A $80,000 $60,800 $42,142 $49,267
<br /> Crime $10,339 $15,190 $9,754 $8,311 $8,419 $6,721
<br /> Terrorism-Property $37,500 $47,900 $30,000 $17,769 $18,000 $16,461
<br /> Terrorism-Liability $10,400 Incl. $9,950 $7,461 $30,518 $28,992
<br /> Totals $3,068,077 $1,840,929 $1,845,838 $1,459,416 $1,771,904 $1,854,710
<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$2.0 million for excess insurance premiums.
<br /> Recommendation
<br /> Staff recommends that the Board approve the renewal and authorize staff to bind coverage for
<br /> May 1, 2013 through April 30, 2014 with a current annual premium of $1,854,710 based upon
<br /> the current schedule of values and coverage selections.
<br /> Attachments:
<br /> Indian River App ed Date
<br /> County
<br /> Property Markets Approached & Responses Admin.
<br /> Legal r(6 3
<br /> Budget )d
<br /> Approved for Agenda Dept.
<br /> Risk Mgr. ov 1O-/3
<br /> Jiseph . Baird, County Administrator
<br /> �-- April 16, 2013
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