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Additionally, staff concurs with Siver's recommendation that the County enter into a Broker <br />Agreement with AJG, defining the terms and conditions of the relationship between the parties. <br />A copy of the Agreement is also attached. <br />Funding <br />Funding for the insurance coverage discussed herein is provided by the Self Insurance Fund, <br />Other Insurance account (acct. number 50224613-034530). The Self Insurance Fund is an <br />internal service fund that allocates charges to the County's user funds. The current year budget <br />includes funding in the amount of $2,412,000 for excess insurance premiums. <br />Recommendation <br />Staff recommends that the Board approve the renewal and authorize staff to bind coverage for <br />May 1, 2015 through April 30, 2016 with a current annual premium of $1,397,333 (to include the <br />reduced workers' compensation SIR) based upon the current schedule of values and coverage <br />selections, approve the broker annual fee of $175,000, and authorize the Chairman to execute the <br />Broker Agreement on behalf of the County. <br />Approved for Agenda <br />f. .,. <br />oseph . Baird, County Administrator <br />April 7, 2015 <br />Indian River <br />County <br />Approved <br />Date <br />Admin. <br />j f / <br />Legal <br />V <br />3 <br />Budget <br />f411 <br />,3 <br />$D /._<Dept. <br />Risk Mgr. <br />51 <br />