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Item C26BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY Meeting Date: 4/16/03 Division: Administrative Services Bulk Item: Yes X No Department: Risk Management AGENDA ITEM WORDING: Accept proposal from Marsh -USA for renewal of Property Insurance coverage. Approval to accept a proposal from one of the pending markets if it contains the same coverage from an A rated carrier with better pricing and in the opinion of the'Risk Management Administrator is a better proposal. ITEM BACKGROUND: Current Property Insurance coverage expires on May 1, 2003. Insurance covers scheduled Buildings and contents, Communication Towers, and Contractors Equipment. Renewal details: Primary Property carriers Lexington Insurance Company/Allied World Assurance Company to cover first $5,000,000 at a premium of $371,284. Excess Property coverage by Royal Surplus Lines Insurance Company to cover in excess of $5,000,000 up to limit of $86,544,519 at a premium of $68,658. Boiler and Machinery coverage up to $15,000,000 provided by Continental Casualty at a premium of $5,479. TOTAL PREMIUM- $445,421 PREVIOUS RELEVANT BOCC ACTION: Approved purchase of Property Insurance coverage through Marsh -USA 4/2002 CONTRACT/AGREEMENT CHANGES: Premium increase of $19,675 or 4.6% STAFF RECOMMENDATIONS: Approval TOTAL COST: $445,421 BUDGETED: Yes X No COST TO COUNTY: $445,421 SOURCE OF FUNDS: Ad Valorem REVENUE PRODUCING: Yes APPROVED BY: County Atty _ DIVISION DIRECTOR APPROVAL DOCUMENTATION DISPOSITION: Revised 2/27/01 No X AMOUNT PER MONTH Year OMB/Purchasing — Risk Management 14V Sheila Barker Included X To Follow Not Required AGENDA ITEM # Property Renewal Proposal Monroe County Effective 5/1/2003 Presented By: JARS H 3f I., - 7. "1 ZP a Table of Contents Executive Summary Primary Property 2 Excess Property 3 Boiler & Machinery 4 Schedules 5 MARSH ,cmp:n; flarn� ru;posal-2rnp!_._ Monroe County Executive Summary A total marketing effort was made on behalf of Monroe County for the property renewal with the following results: Lexington - Current primary market, quote provided Royal Surplus - Current Excess market, quote provided CNA - Current B & M market, quote provided Hartford Steam - Quoted B & M at premium of $18,624 for same limit Allianz - Declined Affiliated FM - Declined Zurich / - Approached & Pending Steadfast Ace / - Approached & Pending Westchester Anch Insurance - Approached & Pending Liberty Mutual - Approached & Pending IRI - Approached & Pending Travelers - Approached & Pending Axis Specialty - Approached & Pending Zurich - Approached for B & M quote Lloyds - Would only be used if necessary as premiums are high Although there are other property markets they do not write in Florida Keys. If one of the above pending markets should provide a better quote, it would be utilized. MARSH Monroe County -Primary Property Effective Date: 5/1/03 to 5/1/04 Carrier & Best's Rating: Lexington Ins. Co. / Allied World Assurance Company A++XV) Form: Manuscript Form Perils: All risk of direct physical loss or damage to property including flood & earthquake, subject to policy exclusions Locations: As per schedule Limits: $5,000,000 per occurrence Sublimits: . $5,000,000 per occurrence / annual aggregate Flood $5,000,000 per occurrence / annual aggregate Earthquake $5,000,000 per occurrence — Transit $5,000,000 per occurrence Demolition & Increased Cost of Construction $500,000 per occurrence — Newly Acquired Properties $25,000 per occurrence extra expense Deductibles: . $50,000 on building & contents less than $250,000 $100,000 on buildings & contents greater than $250,000 $100,000 earthquake $1,000,000 per location per occurrence for wind & hail $5,000 EDP equipment except $50,000 for wind & hail $5,000 Contractors Equipment except $50,000 for wind & hail $5,000 per occurrence for towers except $50,000 for wind & hail Flood Deductibles. 1 With respect to locations wholly or partially within special Flood Hazard Areas ( SFHA), areas of 100- year flooding, as defined by the Federal Emergency Management Agency ( if these locations are not excluded elsewhere in this policy with respect to the peril of flood), the deductible shall be 5% of the TIV at each location involved in loss or damage, subject to a minimum of $1,000,000 any one occurrence. 7 �► ��,'?1 C3 a MARSH, Monroe County - Primary Property (continued) Flood Deductibles: 2 With respect to Named Storms (a storm that has (cont.) been declared by the National Weather Service to be a Hurricane, Typhoon, Tropical Cyclone or Tropical storm), the deductible shall be 5% of the TIV at each location involved in loss or damage, subject to a minimum of $100,000 any one occurrence. 3 With respect to any other flood loss or damage the deductible shall be 5% of the TIV at each location involved in loss or damage, subject to a minimum of $25,000 any one occurrence and a maximum of $100,000 any one occurrence. Coverage to Include: • Real & Personal Property • EDP • Towers • Contractors Equipment • Surveillance Equipment • Transit • Accounts Receivable • Fire Brigade charges & other extinguishing expenses • Debris Removal • Expediting Expenses • Loss Adjustment Reasonable Expenses • Unintentional Errors or Omissions • Consequential Loss • Civil or Military Authority for a period not to exceed 30 days • Ingress/Egress with 60 day limitation • Defense Costs • 90 day notice of non -renewal • 90 day notice of cancellation/10 days for non- payment • Joint Loss Agreement Valuation: Replacement cost if actually replaced; otherwise Actual Cash Value on date of loss Total Insured Values: $91, 544, 519 Territory: The United States of America, the District of Columbia and Canada Exclusions: . Fraudulent or dishonest acts (Included but not limited to) • Faulty design or specifications, materials or workmanship • Artificially generated electrical currents • Mechanical Breakdown • Explosion, rupture or bursting of steam boilers, MARS H Monroe County - Primary Property (continued) Exclusions (cont) . Errors in processing or manufacturing of the insured's product Wear & tear, or gradual deterioration Normal settling or shrinkage of walls, floors or ceilings Loss of market, business interruption or extra expense loss due to delay with respect to property in transit Nuclear reaction, nuclear radiation or radioactive contamination Hostile or warlike actions including but not limited to rebellion, revolution, civil war usurped power or action taken by governmental authority Risks of Contraband or illegal trade Money and securities Land, Land Values and Impounded Water Growing corps, standing timber and animals expect for research Watercraft, aircraft and motor vehicles Waterborne shipments to and from Puerto Rico, the Virgin Islands, Hawaii and Alaska and via the Panama Canal Export shipments after loading on board an overseas vessel or after ocean marine insurance attaches Water except water which is normally contained within any type of tank, piping system or other process equipment Data Corruption Import shipments prior to discharge from the overseas vessel or until the ocean marine insurance terminates Pollution Asbestos Policy Authors Clause on Manuscript Form Full Waiver Clause on Manuscript Form Terrorism Year 2000 Mold Fines, penalties & expenses imposed by order of a government agency Minimum Earned Premium: 35% Annual Premium: $371,284 Notes of Importance: . 2 policies will be issued. A limit of $3,500,000 will apply to Lexington Insurance Co. and a limit of $1,500,000 will apply to Allied World Assurance Company An Additional premium of $18,356 applies if coverage is desired for TRIA (Terrorism Risk Insurance Act of 2002) MARS H Monroe County Excess Property Effective Date: 5/1/03 to 5/1/04 Carrier & Best's Rating: Royal Surplus Lines Insurance Co. (A-XIV Limits: $86,544,519 per occurrence not to exceed values reported excess of $5,000,000 Deductibles. $5,000,000 underlying Valuation: Replacement Cost if actually replaced; otherwise actual cash value on date of loss. Perils: All Risks of Direct Physical Loss or Damage to property excluding flood, wind, and hail & earthquake Form: Excess Physical Damage Coverage Form Coverage to Include: 0 Follow —form underlying policy 90 day notice of cancellation 110 days for non- payment • Occurrence limit of liability endorsement Maintenance of primary insurance requirement Exclusions: (Included but not limited to) . Follow form underlying policy plus • Terrorism • Electronic property & virus • Fungus, wet not, dry not & bacteria (Limited coverage per endorsement) • Pollution Annual Premium: . $68,658 Notes of Importance: An additional premium of $2,403 applies if coverage is desired for TRIA (Terrorism Risk Insurance Act of 2002) Boiler & Machinery Effective Date: 5/1/03to 5/1/04 Carriers & Best's Rating: Continental Casualty (CAN) (AXV) Coverage: Comprehensive including Production Equipment Locations: Same as Property portion Direct Damage Limit: $15,000,000 per "accident" Valuation: Repair or Replacement Cost Sub -Limits $100,000 Business Interruption Expense $100,000 Utility Interruption limit for direct supplies of electricity, gas, steam water, telephone $200,000 Expediting Expense $100,000 Ammonia Contamination $100,000 Water Damage $100,000 Hazardous Substance $100,000 Media Coverage $500,000 Demolition & Increased Cost of Construction Deductibles: $2,500 On direct damage except $5,000 At Detention Center at 5501 College Rd. Stock Island, FL $2,500 On Business Interruption/Extra Expense 24 hours with 24 hour waiting period on Utility Interruption Coverage to Include: . 90 day notice of cancellation/10 days for non- payment Joint Loss Agreement CFC Refrigerants Ordinance or Law Connected & Ready for use Requirement 90 days automatic coverage for newly acquired location State mandated jurisdictional inspections to be provided by CNA Exclusions: (Included but . Sewer piping, piping forming part of a fire not Limited to) protection system or water piping other than - Feed water piping between any boiler & its feed pump injection or - Boiler Condensate return piping or - Water piping forming a part of refrigeration & air conditioning vessels & piping used for cooling, humidifying or space heating purposes ^ 41 MARSH Boiler & Machinery (Continued) Exclusions: (Included but not limited to . From an accident that is the result of an cont.) explosion or fire • Explosion of an Object other than: - any steam boiler, steam piping, steam turbine, gas turbine, steam engine, electronic steam generator - any machine when such loss is caused by centrifugal force or mechanical breakdown • Nuclear or radioactive contamination • Earth Movement • War & Military Action • Flood surface water, waves, tidal waves, overflow of any body of water. • Fire or explosion that occurs at the same time as an accident on that ensues from an "accident" • The explosion of gas or unconsumed fuel within the furnace of any boiler or fired vessel or within the passages from that furnace to the atmosphere • Felt, wire, screen, die, extrusion plate, swing hammer, grinding disc, cutting blade, cable, chain, belt, rope, clutch plate, brake pad, non- metallic part or any part or tool subject to frequent, periodic replacement • Aircraft or vehicles, lightning, sinkhole collapse, sprinkler leakage, windstorm or hail, freezing, weight of snow, ice or sleet • An accident to any object while being tested • Water or other means used to extinguish a fire • Part of a boiler, fired vessel or electric steam generator that does not contain steam or water. • Insulating or refractory material • Non — metallic vessel, unless it's constructed & used in accordance with the American Society of Mechanical Engineers Code • Catalyst • Buried Vessel or piping • Oven, Stove, furnace, incinerator, pot, or kiln • Structure foundation, cabinet or compartment containing the object • Power shovel, dragline, excavator, vehicle, aircraft, floating vessel or structure, penstock, draft tube or well casing • Electronic computer or electronic data processing equipment unless used to operate one or more insured objects • Machine or apparatus that is used for research, medical, diagnostic, surgical, dental or pathological purposes • Part of a vessel that is not under pressure of the contents of the vessel or internal vacuum Boiler & Machinery (Continued) Exclusions: . Structure foundation, cabinet or compartment (Included but not limited to containing the object cont.) Power shovel, dragline, excavator, vehicle, aircraft, floating vessel or structure, penstock, draft tube or well casing Electronic computer or electronic data processing equipment unless used to operate one or more insured objects • Machine or apparatus that is used for research, medical, diagnostic, surgical, dental or pathological purposes • Part of a vessel that is not under pressure of the contents of the vessel or internal vacuum • Conveyor, crane elevator, escalator, hoist but not excluding and electrical machine or apparatus mounted on or used with this equipment Annual Premium: $5,479 MARSH. County ID # Description Purchase Price #0903-667 1993 Kohler Generator 100kw 29,000 #0903-668 1993 Kohler Generator 100kw 29,000 #0903-669 1993 Kohler Generator 100kw 29,000 #0903-670 1993 Kohler Generator 100kw 35,000 #0903-671 1993 Kohler Generator 100kw 35,000 #0903-672 1993 Kohler Generator 100kw 48,000 #0940-177 1987 Huber Road Maintainer Mod 850A 42,000 #0940-222 1989 Ferguson Static Road Roller 37,000 #0940-230 1989 Catepillar Dozer 41,000 #0940-238 1990 Huber Maintainer-Mod.m850A 41,000 #0940-259 1990 Ford Tractor-Mod.6610W / Boom Flail. Axe MO 31,000 #0940-302 1991 Ferguson Pnuematic Roller 32,000 #0940-303 1991 Concrete Pump 25,000 #0940-311 1991 Catepillar Loader/Backhoe 38,000 #0940-361 1994 John Deere Front End Loader 63,000 #0940-411 1996 Ford Tractor & Motrim Boom Mower 38,000 #0940-423 1996 Catepillar Tractor Backhoe Loader 55,000 #0940-425 1996 New Holland Tractor W/ Motrim Boom 38,000 #0940-462 1997 Bandit Brush Chipper 26,000 #0940-445 1997 Caterpillar 12th Grader 133,000 #0940-455 1997 New Holland Ford Tractor W / Motrim Boom 38,000 #0940-456 1997 New Holland Ford Tractor W / Motrim Boom 38,000 #0940-465 1997 Simco Drillling Rig 20,000 #0940-427 1997 CatepillarVibratory Roller 23,000 #0940-457 1997 Leeboy Asphalt Paver 56,000 #0946-480 1997 Caterpillar Loader/ BackHoe 50,000 #3200-047 1990 Ford Tractor W / Boom Flail. Axe Mower 31,000 #0976-055 1997 Deere 244F, Loader 64,000 #0977-154 1996 Hyster Forklift 31,000 #0920-468 1998 Deere 1070 Tractor 17,000 #0972-024 1989 Case 1085E Excavator 99,000 #0974-057 1989 Fiat / Allis 14C Dozer 87,000 #0976-054 1989 Michigan L120 Loader 97,000 #0972-037 1997 Deere 244H Loader 65,000 #0974-059 1989 Fiat / Allis 14C Dozer 78,000 #2403 - 003 1999 Ford / NH 4630 Tractor 15,000 #0973-049 1989 Kawasaki KS565Z Loader 63,000 #0973-053 1990 CAT D6A Dozer 138,000 #0973-077 1990 REX 3-35 Trashmaster 151,000 #0940-542 2000 Case 621 C Front end loader 77,000 #0940-556 2001 Case 621C Front end loader 77,000 #0940-576 2002 Case 621 D Front end loader 84,000 County ID # Description Purchase Price #0940-555 2001 Dynapac CA250 Roller 63,000 #0940-570 2002 BOMAG BW120as-3 roller 27,000 #0940-571 2002 BOMAG BW120as-3 roller 27,000 #0902-519 1995 CAT SR4 Generator 176,000 #1437-492 1993 Kohler 80ROZJ 26,000 #1808-008 1994 Kohler 20ROZJ8 17,000 #1808-009 1994 Kohler 15ROZJ8 17,000 #1808-010 1993 Kohler 80ROZ 17,000 #1808-011 1994 Kohler 15ROZ J81 17,000 #1808-012 1990 Kohler 15ROZ 17,000 #2500-020 1992 Kohler 60ROZJ61 34,000 #2500-021 1992 Kohler 60ROZJ61 34,000 Total $2,716,000 MONROE COUNTY TOWER FACILITIES OWNED BY MONROE COUNTY As of 3/26/03 Location Key Largo Translator Tower 346 ft. Pirod Users: Public Safety Sheriff's Department Coast Guard WLRN Public Radio Emergency Medical Service Plantation Key Sheriffs Substation 295 ft. Rohn Users: Sheriff's Department U.S. Customs Emergency Management Public Safety Public Works Social Services Emergency Medical Services Bell South Mobility Islamorado Translator Towers 246 ft Pirod Users: Sheriff's Department WLRN Public Radio Public Safety Grassy Key Translator Tower 246 ft. Pirod Users: Public Safety Social Services Sheriff's Department WLRN Public Radio Value $350,000 Tower $100,000 Shelter & Equipment $500,000 Tower $250,000 Equipment $175,000 $300,000 Tower $100,000 Shelter & Equipment MONROE COUNTY TOWER FACILITIES OWNED BY MONROE COUNTY (Continued) Marathon Sheriffs Substation 200 ft. Rohn Users: Sheriff's Department $250,000 Tower Public Safety $75,000 Shelter & Equipment Emergency Management Public works U.S. Marshall's service Fish and Game Marathon Fisherman's Hospital 90 ft. Rohn Users: Emergency Medical Services $23,000 Public Safety Hospital Marathon Emergency Operation Center 80 ft. Rohn Users: Emergency Management $40,000 Sheriff's Department Public Safety State Law Enforcement Social Services Public Works U.S. Navy Various Emergency Communication Users West Summerland Translator Tower 360 Ft. Pirod Users: Public Safety $500,000 Tower Sheriff's Department $250,000 Shelter & Equipment WLRN Public Radio Lower Keys Hospital 80 ft. Rohn Users: Emergency Medical Services $15,000 Public Safety Emergency Management MONROE COUNTY TOWER FACILITIES OWNED BY MONROE COUNTY (Continued) Stock Island Sheriff's Headquarters 150 ft. Rohn Users: Sheriff's Department $200,000 Public Safety State Mutual Aid Omnipoint Communications Stock Island County Complex 100 ft. Rohn Users: Public Works Included Sigsbee Translator Tower 160 ft. Re -enforced Pirod Users: Pubic Safety $250,000 State Joint Task Force Law Enforcement Social Service U.S. Navy WLRN Public Radio Key West Courthouse $225,000 Tower 80 ft. Pirod $210,000 Equipment Users: Sheriff's Office Public Safety Emergency Management Fish and Game Sprint Communications Nextel Communications TOTAL $3,813,000. c� r- 120-:2 � �"O� �'D � �� 7C 7C 7C 7C T.—C7nmmmm O O O O O L O'a T T ci ICL COi m 0 0 0 0 N N N N O O O O W ID A O _� 0 0 0 0 0 (p N N 0 0 O O (0 01 W N O N O V N O V O) 01 N -+ A m V OI -� W 0) N OD G�0 2(n _rwrM (v c o =o =a a) ocnm 3 0- m o m 3 a' m m �. m m c 0 (D M 0 5t 0 'o. 3 °. ; c v m m �c�.. m m c m of m `� c `= °c v c° m o v v m 3 rn v o (na c (=�� 0 Mao J O m o m �'�� ;L 0. i m 3' m .� .< N i(n� �'<. 3 �i3 �3 ��<<a�o� nOri N o w w O) m (') d 3 y D 0 0 0 a n D O O~ O� m< Ci < N 3 N O J 3 d. G -i � C7 0 In U)cm J cn 7 J J 7 n N'a O' m N O• (D c m 0' J. 3 T T m A N R- Q, 7 T G7 .J.. 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Crumbaus ARM Risk Manager Moruoe County 1100 Simovion Strw Suite 268 Key West, Florida 33040 CORPORATION I I I I North Westahore Boulevard Suite 208 'Pampa, FL 33607r4111 Phone (813) 297-1040 Facsimile (913) :87-1041 Subject: Propert7 sal Dollw and MwWner7 Resewal Dear Bill: Marsh USA has submitted their proposal fbr the renewal of the County's Property and Boiler and Machinery fim anoe policies. Bath policies expire on May 1. 2003. Currently the Property insurance is provided by. Lvdagtan Insurance Company; Commercial Underwriters Insurance Company and > Royal Insurance Company. Lexington and Conn rcial provides the first S5 million of coverage with Royal providing the rem dWAS SU.578,546. 7U oombiaod annual premium of all throe politics is $420.590. CNA Ins uaooe provides the County's Boiler and Machilay izoa*aoo with limits of S15 million for an usual prostiom of $5,156. Marsh has proposed to renew the Property policies with terms and conditions that we comparable to the car mvw program Under Muah's renewal proposal, Allied world Anwance will replaoe Commercial Underwriters in the first S5 million layer. 'ibis does not present a concern since all of the insurers proposed by Marsh enjoy a favorable rating $om the A.M. Bad and Company, the leading evaluator of inaxmm company operations. A4*ments to the County's property acbedulo were u s& in ooA0%ction with the ranerval. While the value of the Cauaty's buildings and oantents wee lowered by spprw imMely S5 million, the vahw of the mobile equipment and conununication towcn were increased significantly. Marsh Las proposed a combined premium of $439,942 for the 2003r2004 policy year. This is 4.6% W# a than the County's curnrtt preati= This is vkwed as an exImin ly favorable renewal. CNA has agMad to reatiew the Coaety's Boiler and Machinery inwraM for a premiwa o($5,479. The germs and conditions of the CNA proposal are comparable 10 the aureDt pogrom and the proposed 04/06/1999 14:21 8132871041 INTERISK PAGE 03 premium is less than r/. mom than what the County is cwrendy prying. TUs is also viewed as a favorable, renewal proposal. The attached schedules summsrue the major features a(both the Property and Honer and N%dunery yropoaab and eorapaat a them to the Current program. It is recommended that the Courtly aoceptt the popoaals as o b®itbed by Marsh USA for the Coumy't P.Waty and Boda and Machitwy instimttoe for the period et bWve May 1, 20M. It is uodm*wd that Marsh is continuing its effotta to devdAV a more attractive Program utilizitt6 ditraeatt inwrers. If istch a program can be developed prior to May 1, 2W3, eoudderadon should be given to the Aftanative proporl. As alwa)s; plosae do M hesitate to can if you have any quedions. Cordially. rNT MSK CORPORATION Sidney G. Wt brber CPCU, ARM 04/06/1999 14:21 9132871041 INTERISK PACE 04 MONROE COUNTY 2003/2004 PROPERTY INSURANCE PROGRAM RENEWAL EVALUATION April 2003 Current Progrun Renewal proposal Insurer Lexington Insurance Co. Conwwxial Underwriters Roy2l Insurance Co. Lexington Insurance Co. Allied World Assurance Roval Insurance Co. AM Best Rawer Lexington — A++ Commercial Underwriters — A++ Royal — A Lexington — A++ Allied — A++ Rot —A Insured Values 1 590,005 Budding and Contents f85 015,519 Mobile EquOnent $1,454,000 f27166,000 Towers $2119 000 $3 813 000 Real & Personal Property f93 78 f 91 .519 Flood $5 000 000 f5 000 000 Law & O ch nance $5,000,000 f 5 000.000 Deductible �•:. y.:: ,. $50,000 $50,000 Buildings valued under f250 000 Buildings rJmd in excess of $250 000 f 100,000 f 100,000 Wind & 14" f 1 million $1 million Flood, $I million $1 million Contractors Equipment S5,0W except $50,000 for Wind & H2i1 $5,000 except $50,000 for Wind & Had EDP Equipment $5,000 except $50,000 for Wind & Hail $5,000 except S%PW for CVmd & Hail Conunutucation Towers $5,000 except $50,000 for Wind & Hail $5,000 except f 50PW for Wind & Haul R lacenrnent Cost Yes Yes Asmmd Amount No No Blanket Limits No No Premium $420,590 W9 942 Comments For am additional pcemium of $20,759 terroasm coverage can be added in accordance with the Terrorism Risk Insurance Act of 2002 04/06/1999 14:21 8132871041 INTERISK PAGE 05 MONROE COUNTY 2002/2003 BOILER AND MACHINERY INSURANCE PROGRAM RENEWAL. EVALUATION April 2M CuffentPrognim Renewal Proposal Insurer CNA Insurance Co. CNA Insurance Co. AM Best Rating CNA — A CNA — A $15 000,000 $15,000 Direct Business Interruption $100,000 $100000 Ex tin $200 000 $200,000 Law & Ordinance $500 000 $500 Deductible By . "i�N�:i'wr yw $2,500 �w I .y MPR �:N 2,500 R p• !A Direct DamW Dannge at Detention Facdi $5 000 $5 000 lacement Cost Yes Yes Amount No No Bluiket Limits No No Premium $5,479 Cornrmnts