HomeMy WebLinkAbout97.Alliant Insurance PP Presentation 5-8-2013Orange County Sanitation District
Administration Committee Meeting
Agenda Item No. 2
Status of 2013-14 Insurance Renewals
May 8th 2013
Liability Marketing
Incumbents
AmTrust & Starr Indemnity –Estimate a 4.5% increase
Competitors
Submitted to 22 Insurance Companies
3 Lead Carriers
19 Excess Carriers
2 Excess markets have declined due to Operations
6 Excess markets have maximum capacity of $10 mil
3 Excess markets prefer to attach at $25 mil
The remaining are pending quotes or lead terms
Excess Workers’ Compensation
Incumbent
CSAC EIA –Seeking an increase of 15%
Competition
Submitted to 9 Other Insurance Companies
Declinations
2 Will not write mono-line coverage
3 Could not compete with current pricing
1 Required a Self Insured Retention of $1 mil
1 Only able to provide short buffer layer
Pending
2 Carriers are working to offer quotes
Addition of nearly
$300MM
In Values Since 2012
Property Insurance Drivers
Super Storm Sandy …
And a weak
investment environment …
Property Marketing
Incumbent
PEPIP -A consortium of 19 carriers including AIG & Lloyd’s of London)
Seeking 15% rate increase against new Total Insured Values
Competition
Submitted to 11 other Insurance Companies
1 Declined as they sold their business to another carrier
1 Max. capacity of $10,000,000 –likely not competitive
2 Max. capacity of $25,000,000-likely not competitive
1 Max. capacity of $500,000,000-likely not competitive
1 Wants a complete inspection of the all facilities
PENDING
5 Awaiting feedback from carriers
Premium History
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
00 01 02 03 04 05 06 07 08 09 10 11 12 13
Property & Boiler XS Liability XS WC
Rate History
-
0.100
0.200
0.300
0.400
0.500
0.600
0.700
00 01 02 03 04 05 06 07 08 09 10 11 12 13
Property & Boiler
Liability
Excess WC