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Indian River County Board of County Commissioners ::: CORE360" The County's total insurable values for the 2018-19 renewal decreased from $381,605,432 to $372,933,092, a total decrease of 2.27%. We did increase the building values by 3% however the decrease in value is a result of removing the Dodger Town Property. Where we are at Today: We have fully marketed the County's renewal to 30 markets. This year we have been struggling with filling capacity at a reasonable price within the primary layers. The County's primary layer currently has five carriers however Evanston wanted to move to a higher layer and Ironshore wanted to decrease their participation. We have added Berkshire (National Fire & Marine), Lloyds of London — Syndicate Beazely and Endurance. We have also replaced Colony as their layer price was 11% higher than our highest quote and they no longer want to accept Hurricane deductibles. Terms continue to be scrutinized therefore the following will be changed at renewal: • Newly Acquired Property — Changed from 120 days to 90 Days reporting • Excluded Property o Miscellaneous Property in the Open — Last year the miscellaneous sublimit of $2,000,000 was removed and the intent was to exclude this property going forward. However to clarify the intent carrier's want to add this as a specific item under the Property Excluded section of the coverage form. Miscellaneous Property in the Open will be defined as real and/or personal property within the territorial limits, which property is at risk of the Insured at inception of the policy but has not been listed on a report provided to the insurer at inception. o Golf Course Tees, Greens and Fairways — Again the intent is to not cover this property under the current policy however to clarify the intent this property will be specifically named within the Property Excluded section. o Definitions will be added further clarifying carrier's intent to not cover land, land improvements or property in the open. o Electronic Data — Several carriers include their own definitions for Cyber and electronic data. The majority of the marketplace is moving for all electronic data being excluded however caused Cyber and/or a Windstorm, Flood, Fire, etc. We attempt to negotiate non -cyber perils to be covered. However in 2019 we are losing the majority of these battles. o No coverage for pre-existing damages • We continue to have a few other terms and conditions that are in negotiation. If we are not successful with their removal, we will let you know. This year the final premium including surcharges is $1,326,994; a $105,657 increase over expiring. Overall that is a 10.97% rate increase from expiring. Equipment Breakdown In 2017, Travelers agreed to a 3.15% rate decrease and rate agreement through 2019 subject to a 30% loss ratio. The County's renewal premium is $10,742; a 2.27% decrease. The following coverage enhancements remain on the 2019 renewal: 1. Expediting Expense is provided up to policy limit, the expired limit was $1,000,000 — The carrier will agree to pay reasonable extra costs to make temporary repairs or expedite permanent repairs, which would ultimately reduce the total cost of the claim. 2. Claim data expense limit of $25,000 which will allow you to pay for expenses you incurred in preparing the claims data, this can include appraisals, preparing income statements, and other documentation; previously no coverage was provided. 3. Deductible Waiver — Your equipment breakdown deductible will be waived if you suffer a loss that is covered via your property program and the equipment breakdown policy. 4. Off Premise Equipment Coverage — Provides coverage to covered equipment that suffers a breakdown and is located at a temporary location that is not a covered location. 5. Amend Knowledge of Occurrence to executive officer or risk manager 5 Gallagher Insurance I Risk Management I Consulting