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Indian River County Board of County Commissioners <br />Executive Summary <br />|n2017.Travelers agreed koa3.1596rate decrease and rate agreement for 2O18subject hza3O96loss <br />ratio. The County's renewal premium is $10,890; a 3.43% increase. <br />The following coverage enhancements namahnonthe 2O18renewal: <br />1' Expediting Expense ieprovided up hmpolicy limit, the expired limit was $1000,000 The <br />carder will agree to pay reasonable extra costs to make temporary repairs or expedite <br />permanent repairs, which would ultimately reduce the total cost of the claim. <br />2. Claim data limit of$25OOOwhich will allow you to pay for expenses you incurred in <br />preparing the claims data, this can include appraisals, preparing income statements, and <br />other documentation: previously no coverage was provided. i . <br />3. Deductible Waiver — Your equipment breakdown deductible will be waived if you suffer a loss <br />that is covered via your property program and the equipment breakdown policy. <br />4. Off Premise Equipment Ccwenage—PnovidescoxenaUeoocnvenedaqu/pmemthat suffers <br />breakdown and is located at a temporary location that is not a covered location. <br />5. Amend Knowledge cfOccurrence toexecutive officer orrisk manager � <br />Inland Marine — Vehicles over $100,000, Contractors Equipment, Rented & Leased Equipment and <br />Golf Carts <br />Last year we approached six markets on your behalf and received various declinations except XL. <br />Markel, your incumbent has offered a 7% rate decrease and agreed to increase the lo�s limit from t15 <br />million to $20 million. Markel agreed to remove the following 'property not covered' from the Auto <br />Physical Damage form: <br />m.Property while being used cxoperated in other than 'Fire Department <br />b. Tires or Glass. <br />This year the renewal premium is $57,226;a1.22% rate increase. We have approached Markel for sm <br />option for arate agreement for the 19'2Orenewal and they have agreed booffer oflat fate oslong eoone <br />or more of the following does not apply: <br />1. The incurred loss ratio is greater than 40%; <br />2. There are significant market driven changes to treaty or facultative reinsurance costs and/or <br />capacities; <br />1 There is any material change from the exposures insured atinception and/or any material change <br />in the quantum of natural catastrophe (wind or hail, flood, named storm or earth movement) <br />exposures insured from inception. <br />Additional conditions applicable tothis endorsement: <br />1. Although the Company's composite rate may stay constant, such composite rate willbe applied <br />to a prospective annual adjustment of values. The annual adjustment of values willreflect any <br />trends in inflation, along with additions or deletions to the Statement of Values. <br />2. The Limited Two Year Guaranteed Rate provision applies from the inception date ofthis policy <br />and expires a[the earliest of: <br />a. The effective date ofcancellation, <br />b. The effective date ofnon'ronewa|.or <br />o. May 1.2O28 <br />- <br />Arihurf.Ganajh�r_!Z�k inc <br />