HomeMy WebLinkAbout9, Insurance RenewalConsent Item #9
Consideration of the
Award of Contracts for
Property, Liability, and Workers'
Compensation Insurance
May 2, 2012
Background / History
• The District's annual property, liability and workers'
compensation insurance coverage ends June 1, 2012
• Marsh Risk & Insurance has been the District's broker
since 2001
• RFP for brokerage services in February, 2012
• Awarded contract to Marsh in March, 2012
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Premium Summary 2012-2013
Coverage
Carrier
Expiring
Premium
2012-2013
Premium
Package (Liability, Property, Auto, and 1 St
Excess Layer)
OneBeacon
136,136
135,601
2nd Excess Liability Layer
AWAC
20,000
21,400
Workers' Compensation
Federal Ins. Co.
187,337
166,410
Pollution (3 yr term ending June 1, 2014)
Steadfast
18,144
(3 yr term)
n/a
Earthquake — Primary
Landmark
46,689
49,562
Earthquake — Excess
Essex
25,462
26,954
Crime
Chubb
4,537
4,537
Marsh Broker Fee
Marsh
65,000
55,000
Program Premium $503,305 $458,598
% Savings 9%
Fiscal Impact
• Proposed insurance premiums and fees total $458,598
— 9% lower than prior year
— $110,000 lower than budget
0
Recommendation
• Award contracts for the insurance programs as proposed for
the period beginning June 1, 2012
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