|
Indian River County Board of County Commissioners
<br />=:=CORE360"
<br />Form
<br />Option 2 & 3
<br />Option 1
<br />Difference
<br />individuals and is not subject to the limit on the policy.
<br />Property
<br />123143
<br />Impersonation Fraud Coverage Section — Provides coverage for
<br />No coverage within current
<br />01/17
<br />fraudulently -induced instruction by means of electronic,
<br />telegraphic, cable, teletype, fax, phone or written instruction
<br />Cyber Form —
<br />Crime policy currently has
<br />$ 10,742.00
<br />directing financial institution to transfer funds from a transfer
<br />$50,000 with a $5,000
<br />Inland Marine
<br />account, communicated by the insured or your employee upon the
<br />insured or your employee was fraudulently instructed who appears
<br />to authorized by your company or a vendor for $100,000 excess of
<br />deductible
<br />$ 7,403.00
<br />$25,000 deductible
<br />Terrorism Liability
<br />124318
<br />Other Insurance Clause Amended Endorsement Insured Option —
<br />Policy reads Excess
<br />08/17
<br />Overlapping Property Policy Coverage — Allows insured to choose
<br />if duplicated coverage which policy will respond first
<br />$ 7,275.00
<br />Watercraft — Hull / Protection & Indemnity
<br />The renewal premium offered by Great America is $7,808; a flat renewal.
<br />General Liability — Parking Lot
<br />This year we moved the Parking lot General Liability policy to a May 15t renewal to run con -current with the other policies we
<br />place on your behalf. A flat renewal of $1,888.00; 4.45% decrease. The carrier had one change to the policy amending the
<br />definition of "insured contract." This change is important as it the policy will no longer provide coverage for damage to the
<br />parking lot. You should review your contract and let us know if your required to provide property damage liability or just bodily
<br />injury liability. It may not specify.
<br />County overview of expiring vs. renewal program for all coverages
<br />Below you will find an expiring vs. renewal premium summary:
<br />Coverage
<br />18-19 Premium
<br />19-20 Premium
<br />Difference
<br />% Change
<br />Property
<br />$ 1221,337.00
<br />$ 1,326,994.00
<br />$ 105,656.50
<br />8.65%
<br />Equipment Breakdown
<br />$ 10,890.00
<br />$ 10,742.00
<br />$ (148.00)
<br />-1.36%
<br />Inland Marine
<br />$ 59,790.00
<br />$ 67,193.00
<br />$ 7,403.00
<br />12.38%
<br />Terrorism Liability
<br />$ 11,500.00
<br />$ 11,122.00
<br />$ (378.00)
<br />-3.29%
<br />NCBR Terrorism
<br />$ 7,275.00
<br />$ 6,685.00
<br />$ (590.00)
<br />-8.11%
<br />Pro.ert Terrorism
<br />$ 9,500.00
<br />$ 8,729.00
<br />$ 771.00
<br />-8.12%
<br />Crime
<br />$ 5,005.00
<br />$ 5,005.00
<br />$ -
<br />0.00%
<br />Public Entity Excess Liability
<br />$ 153,300.00
<br />$ 151,825.00
<br />$ (1,475.00)
<br />-0.96%
<br />Excess Workers Compensation
<br />$ 171,216.00
<br />$ 171,468.00
<br />$ 252.00
<br />0.15%
<br />Cyber
<br />$ 19,443.00
<br />$ 27,522.00
<br />$ $8,079
<br />41.55%
<br />Hull / P&I
<br />$ 7,808.00
<br />$ 7,808.00
<br />$ -
<br />0.00%
<br />General Liability — Parking Lot
<br />$ 1,976.00
<br />$ 1,888.00
<br />$ (88.00)
<br />-4.45%
<br />Fee
<br />$ 175,000.00
<br />$ 175,000.00
<br />$ -
<br />0.00%
<br />TOTAL
<br />$ 1,854,040.00
<br />$ 1,971,980.50
<br />$ 117,940.50
<br />6.36%
<br />Conclusion
<br />We look forward to reviewing this proposal with you in detail and truly appreciate your business. In the following pages we will
<br />review the results, changes, enhancements and options by each line of coverage:
<br />Michael Gillon
<br />Area President
<br />Erica Connick, ARM -P
<br />Area Senior Vice President
<br />1
<br />Gallagher
<br />Insurance I Risk Management ( Consulting
<br />
|