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Indian River <br />County _"^0�8��� ����ar`�^�� ��`- '^ __--_--_-_-___-~ <br />Executive Summary (Coot] <br />Coverage, $25 million each for Flood and Earthquake Aggregate Annually except $1' million for Special <br />Flood Hazard Area. The policy deductible m$lUV.OnOwith a5Y6Named Windstorm 'With amaximum per <br />occurrence of $5million. The current total annual pra�ium.indudingassessments is$984.738wdha <br />ra�'per $10U invalues of$.2SB4 excluding terrorism oovenaOo. <br />The County's total insurable values for the 2017-18renewal increased from $365.5O9.174hm <br />$381.G76.150.ototal increase of4.4296. <br />Where we are at Todav: <br />We have fully marketedUe County's renewal to 30 markets. The new capacity we approached is not <br />helping, incumbent primary pricing is lower and the new capacfty will not support incumbent's terms. <br />Carriers have determined that they didn't do a good job vetting broker manuscript forms. The manuscript <br />resulted in the County receiving payments for beaches and property in the open. The County would not <br />have received coverage for these items on a carrier form. The main issue is loss history vs. premium. <br />Lloyds non -renewed their 25% of the County's primary $25,000,000. <br />Westchester your lead carrier onthe primary $35,00U,0O0has offered the following two options: <br />1. Expiring Manuscript Form - Wth 26 clauses to be changed for a layer price of $1,100,000 <br />� Carrier Form - Layer Price $1.000,000;wohave suggested the Lexington form and our pending <br />confirmation ifWestchester will require any changes, It's our understanding beaches, piers and <br />docks will be excluded. <br />Based onthe assumption the County moves back to the Lexington form and keeps the current limits the <br />total renewal premium would be$1.221.3G7; a $236,629 increase. Below you will find several options for <br />the County to consider for the renewal allowing for a rate change of between -2.7% and 16.3% and a <br />premium increase range from $1S.328boS2i1.G2S. <br />We still need to finalize the form and any other changes that maybe needed tothe program. Wehope to <br />have this resolved shortly and will update the proposal once all carriers have received the final form. <br />Equipment Breakdown <br />~~ <br />4 <br />Other Options available <br />$35,000,000 <br />$200,00U00 <br />$30,00U00 <br />$200 000,000 <br />We still need to finalize the form and any other changes that maybe needed tothe program. Wehope to <br />have this resolved shortly and will update the proposal once all carriers have received the final form. <br />Equipment Breakdown <br />~~ <br />4 <br />