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04/17/2018
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04/17/2018
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Last modified
1/11/2021 3:22:45 PM
Creation date
6/1/2018 12:30:24 PM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
04/17/2018
Meeting Body
Board of County Commissioners
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Indian .River County Board of County Commissioners <br />I <br />Executive Summary (Cont.) <br />County overview of expiring vs. renewal program for all coverages <br />Below you will find an expiring vs. renewal premium summary: <br />In order to reduce cost, the following options are available: <br />Named Storm Limit Reduction Options <br />Savings <br />Decrease Named Storm Limit to $35M <br />($25,000) <br />Decrease Named Storm Limit to $30M <br />($60,297) <br />Decrease named Storm Limit to $25M <br />($135,297) <br />24.03% <br />t t I <br />Pro - .221,367 1 $ 236,629 <br />Equipment Breakdown <br />$ <br />10,528 <br />$ <br />10,890 <br />$ <br />357 <br />3.43% <br />Inland Marine <br />$ <br />51,771 <br />$ <br />57,226 I $ 5.455 <br />10,54% <br />Terrorism Liability <br />$ <br />11,500 <br />$ <br />11,500 <br />$ <br />- <br />0.00% <br />NCBR Terrorism <br />$ <br />7,275 <br />$ <br />7,275 <br />-t- <br />0.00% <br />Prope ty Terrorism <br />$ <br />9,500 <br />$ <br />9,500$ <br />- <br />0-00%- <br />Crime <br />$ <br />4,903 <br />$ <br />5,005 <br />$ <br />102 <br />2,08% <br />Public End Excess Liability <br />$ <br />146,000 <br />$ <br />153,300 <br />$ <br />7,300 <br />5.00% <br />Excess Workers Com nsation <br />$ <br />164,688 <br />$ <br />171,216 <br />$ <br />6,528 <br />3964% <br />Cyber <br />$ <br />19,432 <br />$ <br />19443 <br />11 <br />6.06%, <br />Hull / P&I <br />$ <br />7,797 <br />$ <br />7,808 <br />$ <br />11 <br />0.14% <br />Fee <br />TOTAL <br />1 $ <br />175,000 <br />$ <br />175,000 <br />$ <br />- <br />s 0.00% <br />In order to reduce cost, the following options are available: <br />Named Storm Limit Reduction Options <br />Savings <br />Decrease Named Storm Limit to $35M <br />($25,000) <br />Decrease Named Storm Limit to $30M <br />($60,297) <br />Decrease named Storm Limit to $25M <br />($135,297) <br />AOP Limit Reduction Options Savings <br />Decrease AOP Limit to $100M ($41,000) <br />Decrease AOP Limit to $65M ($56,000) <br />Conclusion <br />We took forward to reviewing this proposal with you in detail and truly appreciate your business. In the <br />following pages we will review the results, changes, enhancements and options by each fine of coverage: <br />Michael Gillon Erica Connick, ARM -P <br />Area President Area Senior Vice President <br />Arthur j.GaUaghcrRisk M agemen0ervices,Inc. <br />-180 <br />10 <br />
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