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Indian River County Board of County Commissioners 0 Gallagher ** CORE 360' Excess Workers Compensation The Excess Workers Compensation market continues to be limited in Florida for entities that have Police and/or Fire exposures, which are subject to presumption laws. As a result many entities our forced to take spit retentions with Police/Fire retentions of $750,000 to $1 million. In 2015, we were successful in negotiating $650,000 retention for all classifications except $1 million for USL&H and Jones Act. The County was on a rate agreement with Safety from 2016 through 2020. 2021, Safety pushed for a 12.3% rate increase. At that time, the County had one large with a total incurred of $820,000, which involved an employee airlifted to the hospital. In 2022, we anticipated a tough renewal based on four open claims. We approached your incumbent, Arch and Midwest. Arch indicated a minimum SIR for Fire and Police at $2 million and $1 million all other classes. Midwest indicated the lowest SIR they would consider is $1.5 million and the premium would be $350,000. The carrier pushed the County's SIR from $650,000 to $850,000 to mitigate the premium increase. We also offered a SIR buy down however the County opted not to purchase. The County's payroll reported for the 2024 term is a 4% increase. The carrier offered two options on renewal Renewal MENNOW Rate % Rate Change Change A $850,000 except $11M $359,259 9.12% $.341 4.92% for USL&H / Jones Act B $1,000,000 $297,627 2.5% $.286 -13.08% We also approached Arch and Midwest, Arch declined to quote as they couldn't compete with current terms. Midwest provided a quote with a $1 million retention for $449,000. This option did include a stop loss of $5,462,708. Therefore in this term, your losses within the retention would not exceed that amount. Data and Privacy Liability The County obtained its first Data and Privacy Liability policy in 2014. The carrier was AIG and they provided a $1,000,000 limit with a $25,000 Deductible. In 2020, moved to Travelers for a savings of $7,035. That same year, the County suffered a security incident and used True Digital to respond to the event. True Digital was not an approved vendor under Traveler's policy. We started to see rates increase in 2021 and markets pull away from offering coverage to Public Entities. The County received one of the lowest increases at 25% and was able to maintain its $25,000 deductible. We requested True Digital be approved as the County's Forensic Vendor for future incidents. However based on the volatility of the market, the carrier does not want to approve prior to an event. By October, Travelers started requiring a multi -factor authentication attestation form. As soon as we saw this change, we communicated to the County to expect a 2022 challenging renewal. In 2022, we split up the submission into two submissions based on lack of controls. The County's overall premium increase in 2022 was 41 %. In 2023, we marketed your coverage to 11 markets and received three quotes. The County elected to remain with Travelers as they offered the lowest retention. Watercraft Protection & Indemnity / Hull In 2022, we marked the program to three carriers and received one competing quc the incumbent. The 2023 premium was $5,951 and the renewal is $6,273 with a 5 22