Item N09BOARD OF COUNTY COMMISSIONERS
C ounty of M onroe A(I Mayor George Neugent, District 2
T he Fl orida Keys 4� �� m Mayor Pro Tem David Rice, District 4
l Danny L. Kolhage, District I
„ Y
„; ° W Heather Carruthers, District 3
Sylvia J. Murphy, District 5
County Commission Meeting
June 21, 2017
Agenda Item Number: N.9
Agenda Item Summary #3073
BULK ITEM: Yes DEPARTMENT: Risk Management
TIME APPROXIMATE: STAFF CONTACT: Maria Slavik (305) 295 -3178
N/A
AGENDA ITEM WORDING: Approval to accept proposal for renewal of airport liability
Insurance from ACE Property and Casualty Ins. Co. through Arthur J. Gallagher & Co. with an
annual premium of $33,555.00, and for the Risk Administrator to sign all necessary forms.
ITEM BACKGROUND: The County's airport liability insurance policy with ACE Property and
Casualty Ins. Co. (ACE) expires on July 27, 2017. The proposed renewal of this policy through ACE
provides the same $100,000,000.00 in liability coverage for airport operations in Key West and
Marathon. The policy annual premium will remain $33,555.00 with no deductible. The renewal
policy effective dates are 7/27/17 - 7/27/18. The County's risk consultant's letter providing analysis
and recommending this renewal is attached.
PREVIOUS RELEVANT BOCC ACTION: 7/20/16 - BOCC approved the current ACE airport
liability insurance policy proposed by Arthur J. Gallagher & Co. insurance broker.
CONTRACT /AGREEMENT CHANGES:
Renew Airport Liablity Insurance with Ace Property and Casualty Ins. Co. through Arthur J.
Gallagher. The proposed annual premium will remain the same as the expiring policy in the amount
of $33,555.00.
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
Interisk Corp. Recommendation Letter & Arthur J. Gallagher Client Authorization to Bind
FINANCIAL IMPACT:
06/21/17 404 -63001 - KEY WEST AIRPORT 0 & M $33,555.00
REVIEWED BY:
Maria Slavik
Completed
06/05/2017 7:43 AM
Chris Ambrosio
Completed
06/05/2017 10:37 AM
Bob Shillinger
Completed
06/06/2017 10:00 AM
Budget and Finance
Completed
06/06/2017 10:20 AM
Kathy Peters
Completed
06/06/2017 6:51 PM
Board of County Commissioners
Pending
06/21/2017 9:00 AM
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Ms. Maria Slavik, CPM
Risk Administrator
Monroe County
1100 Simonton St.
Suite 268
Key WesL Florida 33040
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Suite 208
Tampa, FL 33607-4711
Phone (813) 287-1040
Facsimile (813) 287-1041
The County's Airport Liabty policy expires on July 27, 2017. The policy is currently provided by ACI
Property and Casualty Insurance Company with limits of $100 million. The policy also contains varioul
sub-limits. Some of the more notable sub-limits are as follows:
NOINUM=
> Fire Damage
S250,000§
> Medical Expense
'25,0�O
> Excess Automobile Lia b ility
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> Excess Employers Liability
$50 millil
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County.
There are nod uctibles associated with this policy. The annual premium for the current policy (7/27/16 —
7127117) is $33,555.00
ACE has agreed to renew the County's Airport Liability policy with terms and conditions consistent with
the expiring policy for the same annual premium ($33,555.00) that they charged for the 7/27/16 — 7127117
policy term.
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It is believed that ACE's renewal proposal is attractive and it is recommended that the County renew its
Airport Liability Insurance Policy with ACE Property and Casualty Insurance Company, as being proposed
by Arthur J. Gallagher for the policy term 7/27/17 to 7/27/18.
5='
Sidney G. Webber
CPCU,ARM
Monroe
Client i Bind Coverage
After careful consideration of your proposal dated June 1 1 b . 2017, we accept your insurance program
subject to the following exceptions /changes:
FZ
YES I NO I OPTION DESCRIPTION
Bind All Policies As Shown Herein as shown below:
• Additional
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It is understood this proposal provides only a summary of the details; the policies will contain the
actual coverages.
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Client Signature
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POLICYHOLDER DISCLOSURE
NOTICE OF TERRORISM
IS EB* INSURANCE COVERAGE
YOU SHOULD ALSO KNOW THAT THE TERRORISM RISK INSURANCE ACT, AS AMENDED, CONTAINS A $100
BILLION CAP THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR
LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY
ONE CALENDAR YEAR EXCEEDS $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS
EXCEED $100 BILLION, YOUR COVERAGE MAY BE REDUCED.
Acceptance or Rejeeti ®n ®f Terrorism Insurance Coverage
—1111-1 1 1 hereby decline to purchase terrorism coverage for certified acts of terrorism. I understand that I Nvill
havt no coverage flor losses resulting firom certified acts of terrorism,,
KT FT
111SUrance Company
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To be advised when nolicv nurchased
Policy Number