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Indian River County BOCC
<br />Boiler and Machinery
<br />We have negotiated with Travelers and have enhanced several sub -limits for the County this
<br />year. You may recall that we were in the midst of a three-year Program but were successful
<br />in negotiating this coverage with Travelers. The following are the major enhancements to
<br />the renewal program:
<br />:'2015-2016
<br />.•
<br />Su -.11imi6
<br />limits
<br />$10,000,000
<br />Dependent Property
<br />Coverage Extension
<br />$250,000
<br />Electronic Data or Media
<br />Extension
<br />$1,000,000
<br />$5,000,000
<br />Fungus, Wet rot & dry
<br />rot
<br />$15,000 / 30 days
<br />$100,000 and 60 days
<br />Hazardous Substance
<br />Limitation
<br />$2,000,000
<br />$10,000,000
<br />Ordinance or Law
<br />$1,000,000
<br />$10,000,000
<br />Unnamed Locations
<br />$1,000,000
<br />Included in total limit per
<br />Breakdown
<br />Business Income Value
<br />$3,298,546
<br />$10,000,000
<br />In addition, we were successful in reducing the premium from $10,984 to $10,140 (a 7.6% reduction)
<br />even ;with the increase in building & contents values (3%) and enhancing the sub -limits as outlined
<br />above.
<br />i
<br />Inland Marine — vehicles and contractors equipment
<br />I
<br />There are no material changes in coverages for the 2016 renewal. The limit remains at $15M which we
<br />were successful in negotiating last year. Overall, the rates have decreased approximately 7.5% with a
<br />slight, overall premium increase due to nearly a 10% increase in the exposures.
<br />Policy Term
<br />2014 2015
<br />2015:2016 ;
<br />2016-2 17�G
<br />Variance �y0
<br />MUM.01
<br />Base Premium
<br />$45,854
<br />$53,032
<br />$53,327
<br />$295 increase
<br />Policy Limit
<br />$10,000,000
<br />$15,000,000
<br />$15,000,000
<br />Vehicle Values:
<br />$10,994,479
<br />$12,728,963
<br />$13,726,095
<br />$997,132 or 7.8%
<br />increase
<br />Rate:
<br />$0.351 per $100
<br />$0.3335 per $100 of
<br />$0.309 per $100 of
<br />-7.34% decrease in
<br />of scheduled
<br />scheduled values
<br />scheduled values
<br />rate
<br />values
<br />Contractors
<br />$3,821,526
<br />$6,802,078
<br />$7,647,360
<br />$845,282 or 12.4%
<br />Arthur J Gallagher Risk Management Services, Inc.
<br />Page 188
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