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Action Item #20and Cyber InsuranceContract for Property, Liability Consideration of the Award of a and Cyber InsuranceContract for Property, Liability Consideration of the Award of a
May 16, 2018
Property, Liability and Cyber Insurance year term -Up to a three•Insurance ServicesInterWest•workers’ compensation contractsinsurance brokerage services for annual property, liability
and In March 2018, the Board of Directors awarded the contract for •BACKGROUND / HISTORY Property, Liability and Cyber Insurance
NEW INFORMATION Selected carriers based on price and rating of the company•June 1, 2020 –Policy period June 1, 2019 •solicited quotes form various insurance companiesInterWest•packageand
applications to obtain competitive bids for the insurance Insurance Services to complete the necessary letters InterWestThe District worked with Matt Bauer and Tony Pozas with •Property,
Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
NEW INFORMATION$272,347$279,008Total13,203$$13,974TravelersCyberyear $25,800-3$7,413$7,413SteadfastPollution 4,776$4,776$Chubb Crime$59,856$77,400Earthquake$57,079$44,900AWAC/TravelersExcess/Umbrella
$130,020$130,505TravelersLiabilityGeneral Property &Notes19-201818-2017CompanyCoverage summarized below:Proposals for the policies renewing on June 1, 2018 are •Property, Liability and
Cyber InsuranceProperty, Liability and Cyber Insurance
NEW INFORMATION Did not renew its insurance coverage in CA•They declined to quote due to business reasons•OneBeaconThe District’s liability insurance has previously been with •Staff
will present the renewal at a future board meeting•Management Authority July 1 policy period in 2016 with Special Districts Risk -Workers’ compensation insurance policy was shifted
to a July 1•Property, Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
NEW INFORMATION Travelers Aggregate Limit is $27M•Excess Umbrella $15M •Excess Liability $3M•Error & Omissions $1M•Liability $2M•Aggregate differs on policy type••Coverage limits are
arranged differently with Travelers•OneBeaconProposed Travelers liability insurance is broader coverage than •Property, Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
NEW INFORMATION Property deductible decreases to $10,000•outdoor property, personal effects and valuable papersIncreased limit for accounts receivable, ordinance/law coverage, •insured
values on buildings(MSB) annual report that verifies fully BoekhMarshall Swift/•in coverages and extensions-includes builtProposed package also has Deluxe Property Coverage which •Property,
Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
NEW INFORMATION Labor attorney services through Holden Law Group (Auburn)•Free consulting service through Jackson Lewis (Phoenix)•Dedicated public sector claims handling team•Risk management
services included in proposed package•Property, Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
FISCAL IMPACT 19 budgets-Sufficient funds exist in the board approved FY18•.from prior year2.39% decrease •272,347 is $The proposed property, general liability and cyber premium cost
•Property, Liability and Cyber InsuranceProperty, Liability and Cyber Insurance
RECOMMENDATION$299,582contract amount of authorization for a total not to exceed for $272,347 plus a 10% change order , 2019, ending June 1cyber insurance for the period beginning June
1, 2018 and Renewal Proposal for the property, liability and InterWestin the Authorize the General Manager to execute contracts presented •Property, Liability and Cyber InsuranceProperty,
Liability and Cyber Insurance