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The table below illustrates historical premium data:
<br />Policy Year
<br />Exposure
<br />Premium
<br />Annual
<br />Rate
<br />Limits
<br />Purchased
<br />Named Storm
<br />Limit
<br />2007-08
<br />$342,013,377
<br />$2,387,500
<br />0.70
<br />$150,000,000
<br />$50,000,000
<br />2008-09
<br />414,241,373
<br />1,950,350
<br />0.47
<br />150,000,000
<br />50,000,000
<br />4/1/09-
<br />5/1/10
<br />426,623,770
<br />1,412,500
<br />0.33
<br />175,000,000
<br />25,000,000
<br />2010-11
<br />301,589,497
<br />1,350,000
<br />0.45
<br />200,000,000
<br />50,000,000
<br />2011-12
<br />347,436,734
<br />1,049,302
<br />0.30
<br />200,000,000
<br />50,000,000
<br />2012-13
<br />332,426,422
<br />1,316,000
<br />0.40
<br />200,000,000
<br />25,000,000
<br />2013-14
<br />333,657,066
<br />1,264,537
<br />0.38
<br />200,000,000
<br />25,000,000
<br />2014-15
<br />342,345,764
<br />1,205,000
<br />0.35
<br />200,000,000
<br />35,000,000
<br />2015-16
<br />343,203,562
<br />994,238
<br />0.29
<br />200,000,000
<br />35,000,000
<br />2016-17
<br />352,048,567
<br />948,446
<br />0.27
<br />200,000,000
<br />40,000,000
<br />2017-18
<br />365,509,174
<br />984,710
<br />0.27
<br />200,000,000
<br />40,000,000
<br />2018-19
<br />381,676,150
<br />1,121,367
<br />0.32
<br />200,000,000
<br />40,000,000
<br />Equipment Breakdown: The $10,890.00 renewal premium is a 3.43% premium increase and
<br />includes a number of negotiated coverage enhancements.
<br />Inland Marine: The combination of a 1.22% premium increase coupled with increased insurable
<br />values resulted in a renewal premium of $57,226.00 or 10.54% with a flat rate 2019-2020
<br />renewal.
<br />Terrorism: Once again, renewal premiums have stayed the same. For the liability program
<br />including Nuclear, Chemical, Biological and Radiological events, the premium is $18,775.00.
<br />For the property program, the premium is $9,500.00.
<br />Crime: The premium increased 2.08% to $5,005.00. Coverage will remain with the incumbent
<br />carrier, Hanover.
<br />Public Entity Excess Liability Package: The 5% increase ($7,300.00) is due to increases in
<br />vehicle count and net operating expenditures. This package includes excess general liability, auto
<br />liability, public officials' liability, miscellaneous liability, employee benefits liability, law
<br />enforcement activities and EMS operations. Premium is $153,300.00.
<br />Excess Workers' Compensation: The market for public employer workers' compensation is
<br />extremely limited due to fire and police exposures which are subject to presumption laws.
<br />Nevertheless, the renewal proposal from Safety National again offers a flat rate of $0.20975,
<br />with the same $650,000.00 self-insured retention as the current year. Additionally, Safety
<br />National has offered and staff recommends acceptance of a rate guarantee for next year in light
<br />of recent court decisions and proposed legislation. Cost for renewal is $171,216.00, with the
<br />increase based upon a 3.964% increase in payroll.
<br />Cyber Liability: The County initially purchased this coverage in 2014, and the renewal premium
<br />of $19,443.00, or an increase of $11.00 includes coverage for contractual assessments, fines and
<br />170
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