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TO:
<br />THRU:
<br />FROM:
<br />DATE:
<br />SUBJECT:
<br />Indian River County, Florida
<br />Memorandum
<br />Jason Brown, County Administrator
<br />Kristin Daniels, Director, OMB
<br />Beth Martin, Risk Manager
<br />April 5, 2019
<br />Property/Casualty Insurance 2019-20
<br />/2E/
<br />Please consider the following for inclusion on the April 23, 2019 Board of County
<br />Commissioners' agenda.
<br />Background
<br />In preparation for the May 1, 2019 renewal, staff worked with Arthur J. Gallagher Risk
<br />Management Services, Inc. (AJG) to secure the most comprehensive, cost-efficient property and
<br />casualty insurance program for the County. On February 5, 2019 the County extended the
<br />service agreement with AJG for one year, and we present a program with a 6.36% percent
<br />premium increase based upon increased inland marine (heavy equipment and vehicles) value and
<br />property insurance premiums. Additionally, the cyber liability coverage was expanded to
<br />include network interruption and privacy notification services. The table below summarizes the
<br />lines of coverage and costs. It is followed by a discussion detailing variables that impacted
<br />renewal rates.
<br />Coverage
<br />Property
<br />Equipment Breakdown
<br />Inland Marine
<br />Terrorism Liability
<br />NCBR Terrorism
<br />Property Terrorism
<br />Crime
<br />Public Entity Excess Liability
<br />Excess Workers Compensation
<br />Cyber
<br />Hull/P&I
<br />GL/parking lot
<br />Fee
<br />TOTAL
<br />Summary
<br />Current Renewal Increase Change
<br />$1,221,337 $1,326,994 $105,657 8.65%
<br />10,890 10,742 (148) -1.36%
<br />59,790 67,193 7,403. 12.38%
<br />11,500 11,122 (378) -3.29%
<br />7,275 6,685 (590) -8.11%
<br />9,500 8,729 (771) -8.12%
<br />5,005 5,005 0 0.00%
<br />153,300 151,825 (1,475) -0.96%
<br />171,216 171,468 252 0.15%
<br />19,443 27,522 8,079 41.55%
<br />7,808 7,808 0 0.00%
<br />1,976 1,888 (88) -4.45%
<br />175,000 175,000 0 0%
<br />$1,854,040 $1,971,981 $117,941 6.36%
<br />126
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