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Indian River County BOCC Executive Summary Your Gallagher Team is pleased to present Indian River County with a comprehensive insurance proposal for the policy term 5/1/16 — 5/1/17. Market Conditions The insurance marketplace in the 4th Quarter of 2015 remains stable and competitive with the notable exception of the cyber liability and employment practices liability lines of coverage. 1) On average, property renewals in Florida for large municipal insurance schedules have ranged from 5%- 10% rate reductions. This is a result of increased capacity and capital entering the market, and the light CAT loss activity in the US over the past 8-9 years. 2) The market for General Liability and Auto Liability Coverage remains relatively stable with relatively flat rate changes and slight rate increases for accounts with adverse loss history. 3) In general, there is slight firming in the marketplace for Employment Practices Liability and Public Officials Liability as well as cyber Liability. These rates on average increased 5-10% for most accounts in 2015. 4) Excess workers compensation coverage has stabilized to a certain extent; however there are still limited markets willing to provide coverage to entities with Fire and Police exposures. While extremely firm over the past few years, the market for excess workers compensation coverage has slightly softened in 2015 and we have been able to secure rates averaging from flat to a 5% increase for accounts with good loss history. PropertV Gallagher approached 25 property insurance carriers in order to obtain the most competitive terms and pricing for Indian River County. In order to take advantage of current property market conditions we negotiated with the carriers to maximize the premium savings available to the County. Of the 25 markets approached, the majority of the markets could not compete with the current program nor the renewal program. Therefore, you will recognize the majority of the carriers from your current program. On the following page, please find the snapshot of the Property Program since 2009: 178