HomeMy WebLinkAboutItem 7 Late Comm 06-10-2020 Admin Comm - Insurance Renewals1
ORANGE COUNTY SANITATION DISTRICT Memorandum
June 10, 2020
TO: Administration Committee
Orange County Sanitation District FROM: Kelly A. Lore Clerk of the Board
RE: LATE COMMUNICATION The Clerk of the Board received communication after the publication of the agenda regarding the
proposed dollar amounts in Item No. 7 presented to the OCSD Administration Committee
(corrections/additions in red): 7. 2020-21 PROPERTY - LIABILITY INSURANCE RENEWALS 2020-1091
RECOMMENDATION: Recommend to the Board of Directors to: Approve the Orange County Sanitation District FY 2020-21 Property-Liability Insurance
Renewals for the not-to-exceed amounts specified below:
Property and Boiler & Machinery - Not to Exceed $ 1,167,866 $ 1,151,935
Excess General Liability Insurance - Not to Exceed $ 584,718 745,336
Excess Workers’ Compensation Insurance - Not to Exceed $ 207,000
Earthquake Insurance - Not to Exceed $ 93,079 100,000
TOTAL $ 2,052,663 $ 2,204,271
Originator: Lorenzo Tyner
Program 2019-20 2020-21 Change Percent Chg
Excess Workers’ Compensation Insurance $ 217,762 $ 207,000 $ (10,762)- 5%
Earthquake Insurance $ 86,585 $ 100,000 $ 13,415 15%
Property and Boiler & Machinery $ 805,344 $1,151,935 $346,591 43%
Excess General Liability Insurance $ 515,371 $ 745,336 $229,965 45%
TOTAL $1,625,062 $2,204,271 $579,209 36%
PROPERTY AND LIABILITY INSURANCE RENEWAL - SUMMARY
Option 1 Option 2 Option 3 Option 4 Option 5
Expiring Policy Expiring Policy
Property/Boiler/Machinery $1 BILLION $500 MILLION $500 MILLION $500 MILLION $500 MILLION $500 MILLION
Flood - Zones A&V $150 MILLION $150 MILLION $ 25 MILLION $ 25 MILLION $10 MILLION $10 MILLION
Flood - All Other Zones $300 MILLION $300 MILLION $100 MILLION $100 MILLION $50 MILLION $50 MILLION
Retention (Deductible)$500 THOUSAND $500 THOUSAND $500 THOUSAND $1 MILLION $500 THOUSAND $1 MILLION
Premium Estimates $805,344 $3,853,410 $1,151,935 1,134,292 $1,005,671 $994,292
PROPERTY INSURANCE RENEWAL OPTIONS
Expiring Option 1 Option 2 Option 3 Option 4 CSRMA PRISM
Limit $40,000,000 $40,000,000 $40,000,000 $40,000,000 $40,000,000 $25,000,000 $25,000,000
Self-Insured Retention (Deductible)$500,000 $250,000 $500,000 $750,000 $1,000,000 $500,000 $500,000
Layers
$10MM - Great American National $337,271 $621,782 $452,870 $342,237 $282,004 Included Included
$20MM - Berkley Custom $141,400 $264,620 $264,620 $264,620 $264,620 Included Included
$5MM - Arch Part of Berkley $20MM N/A $ 53,174 $ 53,174 $ 53,174 $ 53,174
$10MM - Great American Custom $ 36,700 $ 85,305 $ 85,305 $ 85,305 $ 85,305 Included Included
Estimated Total Cost $ 515,371 $1,024,881 $ 855,969 $745,336 $ 685,103 $1,356,804 $1,683,589
2019 2020 Estimates
EXCESS GENERAL LIABILITY INSURANCE RENEWAL OPTIONS