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Indian River County Board of County Commissioners
<br />Executive Summary (Cont.)
<br />we approached your incumbent markets early and they all agreed to the rate agreement in place. We
<br />also negotiated to extend the flat rate agreement to 2018 renewal subject to the 40% loss ratio.
<br />Historical Results
<br />The chart below shows the annual changes in limits, values, premiums, rates and named storm limit back
<br />to 2007.
<br />A
<br />Purchased J1
<br />07-08
<br />$342,013,317
<br />$2,387,500
<br />$070
<br />150,GOO,000
<br />50,000,000
<br />08-09
<br />$414,241,373
<br />$1,950,350
<br />$0.47
<br />150,000,000
<br />50.000,000
<br />4/1/09-5/1/10
<br />$426,623,770
<br />$1,412,500
<br />$0.33
<br />175,000,000
<br />25,000,000
<br />10-11
<br />$301,589,497
<br />$1,350,000
<br />$0.45
<br />200.000,000
<br />50,000,000
<br />11-12
<br />$347,436,734
<br />$1,049,302
<br />$0.30
<br />200.00.000
<br />50,000,000
<br />12-13
<br />$332,426,422
<br />$1,316,000
<br />$0.40
<br />200,006,000
<br />25,000,000
<br />13-14
<br />$333,657,066
<br />$1,264,537
<br />$038
<br />200.000,000
<br />25,000,000
<br />14-15
<br />$342,345,764
<br />$1,205,000
<br />$0.35
<br />200,000,000
<br />35,000,000
<br />15-16
<br />$343,203,562
<br />$994,238
<br />$0.29
<br />200,006,000
<br />1
<br />35,000,000
<br />16-17
<br />$352.048,567
<br />$948,446
<br />$0.27
<br />200,000,000
<br />40,000,000
<br />17-18
<br />$365,509,174
<br />$984,710
<br />$0.27
<br />200,006,000
<br />40,000,000
<br />18-19
<br />$381,676,150
<br />$1,221,367
<br />$032
<br />200,000,000
<br />40,000,000
<br />Hurricane Mathew & Irma Losses
<br />This year renewal has been very challenging due to the paid Mathew claim and the pending Irma claim.
<br />Below goes over the County's submitted claims in the last two policy years.
<br />-Mat h—ew-- IRMA
<br />Payment Payment*
<br />Schedule Locations $1,371,986 $688,375 1,500,000 Unknown
<br />MUL - Beaches $13,129,096 $2,500,000 3,800,000 2,56.000
<br />Property in the Open $3,171,072 $2,500,000 1,500,000 1,400,000
<br />TOTAL $17,672,153 $5,688,375 6,800,000 3,900,000
<br />IEstimate Paid N—tClilms $9.588,375
<br />Total Premium last 5 years $5,396,959
<br />Loss Ratio for last 5 Years 1177 66%
<br />i
<br />Current Property Insurance Program
<br />Indian River County's current property insurance program is based on total insurable values of
<br />$365,509,174 and provides a program limit of $200 million with $40 million for Named Windstorm
<br />Arthur
<br />WA Nllnn-ge m-ent'Services-, Inc.'
<br />- 173
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