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Indian River County Board of County Commissioners Gallagher *CORE36Cr Equipment Breakdown This year we marketed the renewal to four carriers. To date we received two quotes, we recommend the incumbent renewal: The Equipment Breakdown policy with Travelers includes a $100 million limit is for the non-utility assets as presented in our Property section with a total insured value of $369,376,077; a 9.07% increase in values. The renewal premium is $14,248 plus $142 FIGA surcharge. This is a $1,940 increase, which is a 15.6% premium increase. The carrier has updated several forms and/or edition dates. Below we go over the material changes: 1. Equipment Breakdown Protection - EB T1 00 02 19 a. Errors and Omissions Extension — provides coverage to a location that the description is inaccurate or failure to report a location. E&O must be reported and corrected when discovered; may result in an additional premium. b. The Green Coverage Enhancement and the Ingress/Egress Coverage Extension no longer have separate endorsements and are embedded into the form c. New Exclusion: Capsizing, Collapse, collision, impact, overturning, sinking, or upset of transportable covered equipment or the vehicle, vessel, platform, or any other structure on which the covered equipment is mounted or transported. d. Water exclusion broadened, expired form excluded Mudflow or mudslides; and backup of sewers, drains, or drainage piping; all whether naturally occurring or due to man-made or artificial causes On the Renewal: c. Water that backs up or overflows or is otherwise discharged from a sewer, drain, sump, sump pump or related equipment, except as provided in the Sump Overflow Coverage Extension d. Water under the ground surface pressing on, or flowing or seeping through: (1) Foundations, walls, floors or paved surfaces; (2) Basements, whether paved or not; or (3) Doors, windows or other openings: all whether naturally occurring or due to man-made or other artificial causes. e. Sump Overflow Coverage Extension — will provide coverage up to $5,000 if the overflow is a result of breakdown to covered equipment that is a sump pump or any other covered equipment that operates the sump pump. The expired form was silent. Specified Perils Exclusion - EB T3 18 02 19 - The perils listed within this form were excluded within the expired policy coverage form. Unnamed Locations Coverage - EB T3 34 02 19 a. Does not apply to locations acquired after policy inception FL Coinsurance, Loss — EB T9 27 02 19 — Added an exclusion for Windstorm or Hail Notice — IMP Shiploader Exclusion Policyholder Notice — PN EB 10 10 22 — Excludes coverage to shiploader or barge loader or ship unloader or barge unloader including any similar constructed or similarly utilized devices and machinery, any conveyor or crane or hoist or leg used solely with any of the previously listed items. Digital Assets Exclusion — Will not apply for any loss caused by or resulting from digital currency or non -fungible token (crypto, etc.) Electronic Vandalism — The current policy excluded hacking events. The new exclusion broadens the intent further to include destruction of programs, data, unauthorized computer code or programming, viruses, denial of service attacks, etc. The Utility Assets Equipment Breakdown coverage is included in Star Tech / ACE American Ins. Co. 1116 14 89