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P <br />Indian River County, Florida <br />Memorandum <br />TO: Joseph A. Baird, County Administrator <br />THRU: Jason Brown, Director, OMB <br />FROM: Beth Martin, Risk Manager P)' <br />DATE: March 30, 2015 <br />SUBJECT: Request for Agenda; Property/Casualty Insurance 2015-16 <br />Please consider the following for inclusion on the April 7, 2015 Board of County <br />Commissioners' agenda. <br />Background <br />On April 4, 2011, the Board of County Commissioners approved the current excess <br />property/casualty insurance program following a Request for Qualifications for insurance <br />services and review of the submittals by Siver Insurance Consultants (Siver). In preparation for <br />the May 1, 2015 renewal, staff again worked with Siver Consultants on this two-step <br />broker/proposal process to assure the County was given the opportunity to review the most <br />competitive program available. Arthur J. Gallagher Risk Management Services, Inc. (AJG) and <br />Brown and Brown Insurance of Florida, Inc. (B&B) submitted proposals, both of which are <br />available for review in the Commission office. <br />Analysis <br />Attached, please find the detailed review prepared by Kathy Gordon of Siver. Both brokers <br />submitted competitive proposals that lowered costs from the current program. This reduction in <br />cost is most attributable to the current insurance market although staff is confident that both <br />brokers also worked diligently to obtain the products and pricing proposed. <br />After thorough review both by Siver and staff, we concur with Siver's written recommendation <br />in the selection of AJG, the incumbent broker. As detailed on Page 3 of Siver's report, AJG <br />offers a more favorable self-insured retention (SIR), hurricane/windstorm deductible, hurricane <br />deductible cap, and decreased workers' compensation SIR. With these enhancements, the <br />proposed program premiums are $265,494 less than those of the current policy year. <br />50 <br />