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Indian River County BOCC <br />Equipment Values: <br />$0.13 per $100 in <br />$0.1235 per $100 in <br />$0.1142 per $100 in <br />increase <br />Rate: <br />f <br />scheduled values <br />scheduled values <br />scheduled values <br />7.5% decrease in <br />$149,513 <br />$154,745 <br />Cyber <br />$17,041 <br />rate <br />Contractors <br />$450,000 per item <br />$450,000 per item <br />$450,000 per item <br />$23,925 <br />Equipment Leased <br />B&M <br />$10,984 <br />$10,140 <br />Inland Marine <br />or Rented <br />$53,327 <br />Equipment <br />{ <br />Please note this policy is audited annually for the Inland Marine Contractors Equipment. Therefore, the <br />carrier requires the final Contractors Equipment schedule as of 5/1/2016 along with confirmation of the <br />Rental Expenditures. We have been using the rental expenditures of $150,000 for the past few years. <br />Please advise if this amount remains accurate. Last year, the County elected to insure all scheduled <br />contractors equipment. <br />The vehicles are reported to the underwriter as they are reported to us. There have been a few changes <br />to the schedule since originally submitted to the carrier, and therefore, the final premium would be <br />adjusted accordingly. <br />The only change at this point from the vehicle schedule is adding a new 2016 Gill bus valued at $407,330 <br />along with approximately $35,000 in contractors equipment changes. <br />Crime <br />Last year coverage was placed with Massachusetts Bay Insurance Company. This policy was written on a <br />three; year basis with annual installments payable. The renewal premium is $4,903 and there are no <br />changes to the current three-year program. <br />Overall Program Summary <br />In conclusion, the total insurance premium cost for the County has been reduced by $90,888.38 (6.3%) in <br />2016 with the selection of all the coverages shown below and $35M Named Storm limits and <br />$200,000,000 all other peril limits. The key driver for this savings is a large rate reduction on the property <br />insurance renewal. <br />Coverage <br />2015 Expiring Premium <br />2016 Renewal Premium <br />Property ($200M limits & <br />$35M Named Storm) <br />$1,004,212.38 <br />I <br />$918,474 <br />Package <br />$150,000 <br />$146,000 <br />5 WC <br />$149,513 <br />$154,745 <br />Cyber <br />$17,041 <br />$17,226 <br />errorism Property <br />$12,250 <br />$11,387 <br />Terrorism Liability/NCBR <br />$23,925 <br />$18,995 <br />B&M <br />$10,984 <br />$10,140 <br />Inland Marine <br />$53,032 <br />$53,327 <br />