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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