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Home My WebLink AboutItem R6 R6 BOARD OF COUNTY COMMISSIONERS COUNTY of MONROE Mayor James K.Scholl,District 3 The Florida Keys Mayor Pro Tern Michelle Lincoln,District 2 Craig Cates,District 1 David Rice,District 4 Holly Merrill Raschein,District 5 Board of County Commissioners Meeting July 16, 2025 Agenda Item Number: R6 2023-4236 BULK ITEM: No DEPARTMENT: Risk Management TIME APPROXIMATE: STAFF CONTACT: Gaelan Jones N/A AGENDA ITEM WORDING: Approval to renew Airport Liability Insurance with Ace Property and Casualty Insurance Co. through Arthur J Gallagher; and authorization for Risk Manager to sign any and all necessary documents to bind coverage. ITEM BACKGROUND: The County's airport liability insurance with ACE Property and Casualty Ins. Co. (ACE) expires on July 27, 2025. The County's airport liability insurance policy provides specialized liability coverage for airport operations at Key West International airport and the Marathon/Florida Keys International Airport above and beyond the County's normal liability policy through Florida Municipal Insurance Trust, including premises and personal injury liability, hangar keepers liability coverage, non-owned aircraft coverage, and liquor liability coverage. The proposed coverage through ACE provides $100,000,000.00 in liability coverage for airport operations in Key West and Marathon. The total annual premium for this coverage will be $68,335.88. PREVIOUS RELEVANT BOCC ACTION: Approved 7/17/2024: $76,314.59. INSURANCE REQUIRED: No CONTRACT/AGREEMENT CHANGES: N?A STAFF RECOMMENDATION: Approval. DOCUMENTATION: Recommendation Letter.doc 5328 Airport Liability 25-26 Proposal & Coverage Binder.pdf FINANCIAL IMPACT: 7/27/2025 - 7/27/2026 $76,242.88 SC00054 Insurance Premiums CC08502 Risk Management Insurance. 5329 InteriskCorporation Risk Mgt.&Employee Benefits Consultants 1101 Red Maple Circle N.E.,St. Petersburg, Florida 33703-6318 — telephone: 813-287-1040 www.interisk.net June 27,2025 Jaclyn Flatt Risk Administrator-RMLO I I11 12'Street, Suite 408 Key West,FL 33040 Subject: Renewal of Airport Liability Insurance Jaclyn: The County's Airport Liability policy expires on July 27,2025. The policy is currently provided by ACE Property and Casualty Insurance Company with limits of$100 million. The policy also contains various sub-limits. Some of the more notable sub-limits are as follows: ➢ Personal Injury and Advertising $50 million ➢ Fire Damage $250,000 ➢ Medical Expense $25,000 ➢ Excess Automobile Liability $50 million ➢ Excess Employers Liability $50 million It is not believed that any of the above sub-limits materially impacts the protection being purchased by the County. There are no deductibles associated with this policy. ACE has agreed to renew the policy for the 25/26 policy term with terms and conditions consistent with the current/expiring policy for a total premium of$76,242.88. This represents a decrease of$72 (less than 1%). Gallagher submitted the County's account to several different insurers. ACE was the only insurer that offered a proposal. It is believed ACE has offered a reasonable renewal proposal. It is recommended the County renew its Airport Liability Coverage with ACE Property and Casualty Insurance Company for the 7/27/25 to 7/27/26 policy term as being proposed by Arthur J. Gallagher. 5330 Please give me a call if you have any questions or wish to discuss this issue in more detail. Cordially, INTERISK CORPORATION 4 Sidney G.Webber CPCU,ARM 5331 II/JJ, WWWiiI ,// "MN ^ „ ,,,illlllllllllll��%% 6�i wr //%//,1 , /iU%/'//,i,,;, l//r o �� ,,,,,,,, /f i� ��,✓ pVuC!+f�cif,^ pia��i � // r rsr��«�r,a/gc�iii,�ir✓ri�/irG/ao� � � ! / �, � Romal/ %%r%/ � o f � i C ii � i k�Y6k6V I 1 11\1 11111�111 114ti51.11111II I um, u2 MV� AV,k 5332 46' ) Gallagher Monroe County Board of Commissioners �� ~~. We appreciate the opportunity to quote your Airport Liability insurance.This proposal is a summary of policy terms and conditions.We have been able to achieve our goal of a competitively priced program that protects your risk and exposures. We are recommending that you place your insurance program as shown below with Chubb/ACE, the incumbent carrier. We have negotiated with additional markets this year to find the best policy premiums and terms for you refer to the Market Review on page 5. We have been able to achieve renewal goals by negotiating your renewal with the incumbent carrier This proposal provides coverage highlights along with the attached carrier quotations for the following coverages: ° Airport Owners And Operators Liability Airport Owners And Operators Liability Premium $67,645.00 $67,581.00 War Premium $6,765.00 $6,759.00 Florida Insurance Guaranty Association (FIGA) $755.59 $754.88 Estimated Cost $76,314.59 $76,242.88 It is recommended that you consider purchasing coverage for the following,which are not included in your insurance program: ° CyborLiabi|ity We are not aware of any changes in your exposures to loss, nor are we aware of any changes in your business operations that would necessitate additional coverage options. Please notify un immediately if you are planning any new business operations. The values and schedules are per the expiring policy or the information you have previously provided. |tiayour responsibility to notify usof all necessary changes tm your schedules Information contained in this proposal is intended to provide a brief overview of coverages. It should be used for reference purposes only. It is not intended to provide a full list of policy exclusions, limitations, and conditions.The provided quotes should be reviewed for further details. Coverage afforded to you is subject 0m all terms, conditions, and exclusions of the bound and issued policies. To Bind Coverage: Please refer to the attachment document titled, "Client Authorization to Bind Coverage": ° Note any changes you desire 0obemade ° Place a check mark next 0o the uoverage(s)you wish toaccept ° Date and Sign ° Return prior to the effective date ofcoverage Thank you for allowing Gallagher to service your insurance needs.We appreciate your business and look forward to working with you in the coming year. Please contact meif you have any questions. Sincerely, � Kathy Hill Client Service Manager Senior Enclosure 46, ) Gallagher Monroe County Board of Commissioners )V,JI, - G a a g 0 e II ("', aII II,II Your Gallagher team is a true partner. We have the expertise to understand your business and we're here to service and stay alongside you, every step of the way. IIIIII I Ill .III Jori Van der Voort Producer Jori Van der VoortQaig.com (305)639-3116 (p) Jori Van der Voort Kathy Hill Client Service Manager Kathy Hill agig.com (253)733-3897 (p) Client Service Manager Senior Christian Beane a Christian Begpep 'q Client Services Associate Technical Assistant _L com (561)305-3133 (p) 3llllllll) ,��,; MIN 46' ) Gallagher Monroe County Board of Commissioners I �� o ��u�� v� ��i �i��i �i a ry The estimated program cost for the options are outlined in the following table: Premium $67,581.00 Airport Owners And Estimated Cost* $76,163.81 Operators Liability *Estimated Cost includes all taxes,fees,surcharges and TRIA premium(if applicable) Premiums are due and payable as billed and may be financed,subject to acceptance by an approved finance company.Following acceptance,completion(and signature)of a premium finance agreement with the specified down payment is required. Note: Unless prohibited by law, Gallagher may earn compensation for this optional value-added service. Gallagher is responsible for the placement of the following lines of coverage:Airport Liability,Crime,Benefits Miscellaneous. It is understood that any other type of exposu re/cove rage is either self-insured or placed by another brokerage firm other than Gallagher. If you need help in placing other lines of coverage or covering other types of exposures, please contact your Gallagher representative. Monroe County Board of County Commissioners X Rote: Any entity not named in this proposal may not be an insured entity.This may include affiliates,subsidiaries, LLCa, partnerships, and joint ventures. 46, ) Gallagher Monroe County Board of Commissioners We approached the following carriers in an effort to provide the most comprehensive and cost effective insurance program. Airport Owners And Ace Property And Casualty Insurance Recommended Quote Admitted Operators Liability Company(A++XV) Airport Owners.,�nd Old Republic Not competitivl� Admitted Airport Owners And AIG No respnse Admitted Operators Liability *If shown as an indication,the actual premium and acceptance of the coverage requested will be determined by the market after a thorough review m the completed application. ~~Ganaohe,companies use AM Best rated insurers and the rating listed above was verified on the date the proposal document was created. Best's Credit RatingSTm reproduced herein appear under license from AM Best and do not constitute,either expressly or impliedly, an endorsement of Gallagher's service o,its recommendations.xM Best|o not responsible for transcription errors made|n presenting Best's Credit RatingSTM. Best's Credit RatingSTm are proprietary and may not be reproduced or distributed without the express written permission nrAMBest. A Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. It is not a warranty of a company's financial strength and ability to meet its obligations to policyholders.acsrnCredit RatingnTm are under continuous review and subject tn change and/or affirmation. For the latest aesro Credit naungs`° and Guide mBost'o Credit Ratings,visit the xM Best wououeat . ***If coverage placed with a non-admitted carrier, it is doing business in the state as a surplus lines or non-admitted carrier,and is neither subject to the same regulations as an admitted carrier nor do they participate in any state insurance guarantee fund. Gallagher companies make no representations and warranties concerning the solvency of any carrier, nor does it make any representation o,warranty concerning the rating vr the carrier which may change. 46, ) Gallagher Monroe County Board of Commissioners I Coverage Airport Owners And Operators Liability Carrier Information Ace Property And Casualty Insurance Company Payment Plan Annual Payment Method 7 A encX ill T5!7,72', 7 FISSION, Airport Owners And Operators Liability Premium $67,645.00 $67,581.00 Terrorism—TRIA $1,140.00 $1,148.00 War Premium $6,765.00 $6,759.00 Florida Insurance Guaranty Association (FIGA) $755.59 $754.88 Estimated Cost $76,314.59 $76,242.88 Exposure Per renewal applications Auditable/Frequencx Not audited Each occurrence/offense in respect of Bodily $100,000,000 Injury, Personal and Advertising Injury Products-Completed Operations Annual Aggregate $100,000,000 Limit Personal Injury and Advertising Injury Annual $50,000,000 Aggregate Limit Malpractice Annual Aggregate Limit $50,000,000 Fire Damage Limit Any One Fire $250,000 Medical Expense Limit Any One Person $25,000 Hangarkeepers not"in flight" Limit Any One $100,000,000 Occurrence Han garkeepers not"in flight" Limit Any One Aircraft $100,000,000 Non-Owned Aircraft Liability Limit Any One $100,000,000 Occurrence Excess Automobile Liability(off premises)excess $50,000,000 of$5,000,000 any one accident/occurrence Excess Employers Liability(excluding disease) $50,000,000 excess of$1,000,000 any one accident/occurrence Form Type Occurrence Irril R Limit of Liability $500,000 Form TXge Occurrence Significant policy endorsements include, but are not limited to,those listed on the attached quote/policy form/endorsements. 7 77 77 T 7 77 77777 Significant policy exclusions include, but are not limited to,those listed on the attached quote/policy form/endorsements. No decuctible 1� 1� I I MUM I MEN Subject to signed TRIA Form 6 // ,�, 46, ) Gallagher Monroe County Board of Commissioners ��U ^ �� r�^ �� U^ ��o�� n ��k��n ��K� �� o K�o��\ r � —� Immediately report all claims. Each insurer requires notice of certain types of claims depending on the potential exposure or particular injury typos. It is important to thoroughly review your policy to ensure you are reporting particular incidents and daims, based upon the insurer's policy requirements. If you are using a third party administrator(^TPA^),your TPA may or may not report claims to an insurer on your behalf.Although we will assist you whom mquosted, it is important that you understand whether your TPA will be completing this notification. Reporting Direct to Carrier[Only When Applicable] Insurer: Ace Property And Casualty Insurance Insurer/TPA Name: Ace Property And Casualty Company Insurance Company Phone: 1-800-433-0385 Fax: 1-877-395-0131 Web: https://www.chubb.com/us-en/claims/commercial- Reporting to Gallagher or Assistance inReporting 46, ) Gallagher Monroe County Board of Commissioners � U ��^ o �� U �o �� oos�jj,ne S The following disclosures are hereby made a part of this proposal. Please review these disclosures prior to signing the Client Authorization to Bind or e-mail confirmation. Proposal Disclaimer IMPORTANT: The proposal and/or any executive summaries outline certain terms and conditions of the insurance proposed by the insurers, based on the information provided by your company. The insurance policies themselves must bn read mfully understand the terms, coverages, Exclusions including but not limited to:, limitations and/or conditions of the actual policy contract ofinsurance. Policy forms will be made available upon request. VVn make no warranties with respect u,policy limits or coverage considerations of the carrier. Compensation Disclosure 1. Gallagher Companies are primarily compensated from the usual and customary commissions,fees or,where permitted, a combination of both, for brokerage and servicing of insurance po|icion, annuity contracts, guarantee contracts and surety bonds(collectively"insurance coverages")handled for a client's account,which may vary based on market conditions and the insurance product placed for the client. z. In p|auing, mnowing, consulting on o, servicing you, insurance uovoragos. Gallagher companies may participate in contingent and supplemental commission arrangements with intermediaries and insurance companies that provide for additional compensation if certain underwriting, profitability,volume or retention goals are achieved. Such goals are typically based on the total amount ofcertain insurance coverages placed by Gallagher with the insurance oompany, not on an individual policy basis. As a result,Gallagher may be considered to have an incentive to place your insurance coverages with a particular insurance company. If you do not wish to have your commercial insurance placement included in consideration for additional compensation,contact your producer or service team for an Opt-out form. 8. Gallagher Companies may receive investment income on fiduciary funds temporarily held by them, or from obtaining or generating premium finance quotes, unless prohibited bylaw. 4.Gallagher Companies may also access or have an ownership interest in other facilities, including wholesalers, reinsurance intamnndiarien, captive managnrs, underwriting managers and others that act an intermediaries for both Gallagher and other brokers in the insurance marketplace some of which may earn and retain customary brokerage commission and fees for their work. If you have specific questions about any compensation n,cokmd by Gallagher and its affiliates in relation to your insurance placements, please contact your Gallagher representative for more details. Tm]*/TnNPRAoioc|aimo, If this proposal contains options to purchase TRIA/TRIPRA coverage,the proposed TRIA/TRIPRA program may not cover all terrorism losses.While the amendments to TRIA eliminated the distinction between*mneignanddnmeotioactsnftannhsm. a number oflines of coverage excluded under the amendments passed in 2005 remain excluded including commercial automobile, burglary and theft insurance; surety insurance, farm owners multiple perils and professional liability (although directors and officers liability in specifically included). If such excluded coverages an: n,quimd, we recommend that you consider purchasing a separate terrorism policy. P|oano note that separate terrorism policy for these excluded coverages may be necessary to satisfy loan covenants or other contractual obligations.TRIPRA includes a$100 billion cap on insurers' aggregate liability. TRIPRA is set to expire on December 31,2027.There is no certainty of extension,thus the coverage provided by your insurers may or may not extend beyond Dncombor31. 2027. In the event you have loan covenants or other contractual obligations requiring that TR|A/TR|PRA be maintained throughout the duration of your policy pohod, we recommend that a separate ^^Stand Alone^^terrorism policy be purchased 10 satisfy those obligations. Property Estimator Disclaimer These property values were obtained using a desktop Property Estimator software operated by non-appraisal professionals. These property values represent general estimates which are not to be considered a certified appraisal.These property values include generalities and assumptions values X Gallagher Monroe County Board of Commissioners �sti,a �c -wkh4.xrreaa� ar� ank T� ��,a Terms and Conditions It is important that we clearly outline the nature of our mutual relationship.The following terms and conditions(these"Terms") govern your relationship with Gallagher unless you have separately entered into a written services agreement with Gallagher relative to the policies and services outlined in this Proposal, in which case that services agreement will govern and control with respect to any conflicts with these Terms. These Terms will become effective upon your execution of the Client Authorization to Bind Coverage (the "CAB") included in this Proposal and shall survive for the duration of your relationship with Gallagher relative to the policies placed pursuant to the CAB or otherwise at your request. Services Gallagher will represent and assist you in all discussions and transactions with insurance companies relating to the lines of insurance coverage set forth in the CAB and any other lines of insurance coverage with which you request Gallagher's assistance. Gallagher will consult with you regarding any matters involving these or other coverages for which you have engaged Gallagher. You have the sole discretion for approving any insurance policies placed, as well as all other material decisions involving your risk management, risk transfer and/or loss prevention needs. Although you are responsible for notifying applicable insurance companies directly in connection with any claims, demands, suits, notices of potential claims or any other matters as required by the terms and conditions of your policies, Gallagher will assist you in determining applicable claim reporting requirements. Treatment of Information Gallagher understands the need to protect the confidentiality and security of your confidential and sensitive information and strives to comply with applicable data privacy and security laws. Your confidential and sensitive information will be protected by Gallagher and only used to perform services for you; provided that Gallagher may disclose and transfer your information to our affiliates,agents or vendors that have a need to know such information in connection with the provision of such services (including insurance markets, as necessary,for marketing, quoting, placing and/or servicing insurance coverages). We may also disclose such information as required by applicable data protection laws or the order of any court or tribunal, subject to our providing you with prior notice as permitted by law. We will(i)implement appropriate administrative, physical and technical safeguards to protect personal information; (ii)timely report security incidents involving personal information to affected parties and/or regulatory bodies; (iii)create and maintain required policies and procedures; and (iv) comply with data subjects' rights, as applicable. To the extent applicable under associated data protection laws,you are a"business"or"controller"and Gallagher is a"service provider"or"data processor." You will ensure that any information provided to Gallagher has been provided with any required notices and that you have obtained all required consents, if any and where required, or are otherwise authorized to transfer all information to Gallagher and enable Gallagher to process the information for the purposes described in this Proposal and as set forth in Gallaher's Privacy Policy located at https://w ,aiq.com/privacy-policy/. Gallagher may update its Privacy Policy from time to time and any updates will be posted to such site. Dispute Resolution Gallagher does not expect that it will ever have a formal dispute with any of its clients. However, in the event that one should arise,we should each strive to achieve a fair, expedient and efficient resolution and we'd like to clearly outline the resolution process. A. If the parties have a dispute regarding Gallagher's services or the relationship governed by this Proposal ("Dispute"), each party agrees to resolve that Dispute by mediation.If mediation fails to resolve the Dispute,you and Gallagher agree to binding arbitration. Each party waives all rights to commence litigation in court to resolve a Dispute, and specifically waives all rights to pursue relief by class action or mass action in court or through arbitration. However, the parties do not waive the ability to seek a court order of injunction in aid of the mediation and arbitration required by these Terms. B. The party asserting a Dispute must provide a written notice("Notice")of the claim to the other party and to the American Arbitration Association ("AAA") in accordance with its Commercial Arbitration Rules and Mediation Procedures. All Dispute resolutions will take place in Chicago, IL, unless you and Gallagher agree to another location. The parties will equally divide all costs of the mediation and arbitration proceedings and will each pay their own attorneys' fees. All matters will be before a neutral,impartial and disinterested mediator or arbitrator(s)that have at least 20 years'experience in commercial and insurance coverage disputes. C. Mediation will occur within sixty (60) days of filing the Notice with the AAA. Mediation results will be reduced to a memorandum of understanding signed by you, Gallagher and the mediator. A Dispute that is not resolved in mediati // �1, 46' ) Gallagher Monroe County Board of Commissioners umti amv I R�!*h4.anaagvmeank I conSWUng will commence to binding arbitration. For Disputes in excess of$500,000, either party may elect to have the Dispute heard by a panel of three (3) arbitrators. The award of the arbitrator(s) must be accompanied by a reasoned opinion prepared and signed by the arbitrator(s). Except as may be required by law, neither you, Gallagher, nor a mediator or arbitrator may disclose the existence, content or results of any Dispute or its dispute resolution proceeding without the prior written consent of both you and Gallagher. Electronic Delivery In lieu of receiving documents in paper format, you agree, to the fullest extent permitted by law,to accept electronic delivery of any documents that Gallagher may be required to deliver to you (including, but not limited to, insurance policies and endorsements,account statements and all other agreements,forms and communications)in connection with services provided by Gallagher. Electronic delivery of a document to you may be made via electronic mail or by other electronic means,including posting documents to a secure website. Miscellaneous Terms Gallagher is engaged to perform services as an independent contractor and not as your employee or agent, and Gallagher will not be operating in a fiduciary capacity. Where applicable, insurance coverage placements and other services may require the payment of federal excise taxes, surplus lines taxes, stamping or other fees to the Internal Revenue Service, various State(s)departments of revenue, state regulators, boards or associations. In such cases, you will be responsible for the payment of the taxes and/or fees, which Gallagher will separately identify on related invoices. The Proposal and these Terms are governed by the laws of the State of Illinois,without regard to its conflict of law rules. If an arbitrator/court of competent jurisdiction determines that any provision of these Terms is void or unenforceable, that provision will be severed, and the arbitrator/court will replace it with a valid and enforceable provision that most closely approximates the original intent,and the remainder of these Terms will remain in effect. Except to the extent in conflict with a services agreement that you may enter into with Gallagher, these Terms and the remainder of the Proposal constitute the entire agreement between you and Gallagher with respect to the subject matter of the Proposal,and supersede all prior negotiations,agreements and understandings as to such matters. 10 // �� ,.... .... � o „�rkil �ID11JJ ilii(Ico A CD M au? °' y c O in L V Lo IIIIIIIII� M O ( r Y O 5 > In w Q i J > N O O O O O m 07 Ld a a s (9 ti L) fi�l w r o o w g ■ ■ ■ ■ � w 3 c 3 m fN E > CL f6 � E C N rr E a Q) s O I' a) U) M c M Z m t 0 E Ln III�,� U) 0 a N U C4 47 Lq IIII L Y M N � E O C Ln 3 N w U) a d d a) O C U > m E C '6 '• a? lif 3 E C G7 m O C m 0.2 U n C V a aD U U o O V) o c m i O U c s m m > �E m m U o m 0 CD ( J l ' a c 3 m c o V C ��„Al C C _6 m 0 T O m N O U '( O fl m c U V co M U /,lr`r✓I� III++++�I E 7 N j _O O [ ra C p E > C U 2 In O p � n E 4 m 7 U ( N N L Q � ov a n a O a H a N L m �i o N C U _r C N N c N O . O N l6 X C Lr) CD m m N i%rI m U N U O An 47 co m _ - _ IM pU E m - Q)i a' _ o d y p 3 o m U c c (n w r o 5 o a ° a) w d ll�; � m m � a) coi '> 0 3 r of � wo aaam O E � m m s o a Z r�Jlii% p c N Z n U 5342 46, ) Gallagher Monroe County Board of Commissioners ^ �v�� o,,,nara�� After careful conaideraUonofGaUagher'spmpoaa|datedO0/27/2O25.weacce[tthefoUowingcoverage(a). Pleaaecheck the desired coverage(a)and note any coverage amendments below: 7VAccept 0 Reject Airport Owners And Operators Liability- $67,581 +$754.88 Figa 68,335.88 Ace Property And Casualty Insurance Company 0 Accept 12(Reject TRIA-Airport Owners And Operators Liability-$1,148 0 Accept d Reject War-Airport Owners And Operators Liability-$6,759 Additional Recommended Coverages Gallagher recommends that you purchase the following additional coverages for which you have exposure. By checking the box(es)below,you are requesting that Gallagher provide you with a Proposal for this coverage. By not requesting a Proposal for this coverage,you assume the risk of any uncovered loss. OCyborLiability El Flood The above coverage(s)does not necessarily represent the entirety of available insurance products. If you are interested in pursuing additional coverages other than those listed in the Additional Recommended Coverages, please list below: Other Services toConsider OYea =�°o'CORE3OO= STEP El Yes &(No—eRiukHub Client Authorization to bind subject to approval of Monroe County Board of County Commissioners on or before July 16, 2025 Exposures and Values You confirm the payroll,values, schedules, and any other information pertaining to your operations, and submitted to the underwriters,were compiled from information provided byyou. |fno updates were provided to Gallagher,the values, exposures and operations used were based on the expiring policies.You acknowledge it is your responsibility to notify Gallagher of any material change in your operations orexposures. Additional Terms and Disclosures Gallagher is not an expert in all aspects of your business. Gallagher's Proposals for insurance are based upon the information concerning your business that was provided to Gallagher by you. Gallagher expects the information you provide is true, correct and complete in all material respects. Gallagher assumes no responsibility to independently investigate the risks that may be facing your business, but rather have relied upon the information you provide to Gallagher in making our insurance Proposals. X Gallagher Monroe County Board of Commissioners umti amv I R�!*h4.anaagvmeank I conSWUng Gallagher has established security controls to protect Client confidential information from unauthorized use or disclosure. For additional information, please review Gallagher's Privacy Policy located at hops:// w.aig.co /privacy-policy/. You have read, understand and agree that the information contained in the Proposal and all documents attached to and incorporated into the Proposal, is correct and has been disclosed to you prior to authorizing Gallagher to bind coverage and/or provide services to you. By signing below, or authorizing Gallagher to bind your insurance coverage through email when allowed,you acknowledge you have reviewed and agree with terms, conditions and disclosures contained in the Proposal. By: Gaelan P.Jones, Assistant County Attorney-Risk Management Print Name(Specify Title) Monroe County Board of County Commissioners Company Signature Date: 06/30/2025 13 CHUBB' 515 S. Flower Street, Suite 2100, Los Angeles, CA, 90071 Tel 213-612-5360 Fax 213-612-5731 TO: Kenneth Burkhead FROM: Rosalind Doby ARTHUR J GALLAGHER RISK MANAGEMENT SERVICES LLC, LAS VEGAS, Nevada, 89144 EMAIL: Kenneth_Burkhead@ajg.com DATE SENT: June 9, 2025 SUBJECT: Monroe County Board of County Commissioners COMMENTS: We have pleasure in enclosing our Airport Owners and Operators quotation(s) in respect of the referenced Insured. Commission to your office is as follows: 15.00% Thank you for the opportunity to provide you with this quotation. Best Regards, Rosalind Doby 5345 515 S. Flower Street, Suite 2100 C H U E3 E3 Los Angeles, CA 90071 Tel 213-612-5360 Fax 213-612-5731 TO: Kenneth Burkhead FROM: Rosalind Doby ARTHUR J GALLAGHER RISK MANAGEMENT SERVICES LLC LAS VEGAS, Nevada 89144 RISK ID: 231840 EMAIL: Kenneth_Burkhead@ajg.com DATE SENT: June 9, 2025 AIRPORT OWNERS AND OPERATORS LIABILITY QUOTATION WITH ACE PROPERTY AND CASUALTY INSURANCE COMPANY (AA S&P, A++ BEST) In accordance with your request, we are pleased to provide the following quotation: Please read this Quotation carefully, as the limits, coverage and other terms and conditions may vary significantly from those requested in your submission and/or from the expiring policy. Terms and conditions that are not specifically mentioned in this Quotation are not included. The terms and conditions of this Quotation supersede the submitted insurance specifications and all prior proposals and binders. Actual coverage will be provided by and in accordance with the policy as issued. The insurer is not bound by any statements made in the submission purporting to bind the insurer unless such statement is reflected in the policy or in an agreement signed by someone authorized to bind the insurer. This Quotation has been constructed in reliance on the data provided in the submission. A material change or misrepresentation of that data voids this Quotation. This quotation is not a binder of insurance. In no event will this quotation remain open beyond 30 days from the quote issuance date shown above or the coverage effective date, whichever comes first. This quotation is subject to the Assured's producer being duly licensed in his/her resident state; in addition,the producer must hold a non-resident license in the state in which the Assured is domiciled if different from the producer's resident state. NAMED Monroe County Board of County Commissioners,all elected or appointed officials and officers INSURED: including employees,volunteers, licensees, permittees and any individual or organization required by statute, agreement,contract or lease or other circumstances including all existing or newly created boards,committees and their members. NAMED 1111 12th Street INSURED'S 4th FI Professional Bldg ADDRESS: Key West, Florida, 33040 Page 1 of 4 5346 PERIOD: From: July 27, 2025 To: July 27, 2026 both days at 12:01 a.m. Local Time at the address of the Named Insured INTEREST: The Insured's legal liability to which this policy applies, arising out of the Insured's Airport operations at the following airport location(s): F.A.A. ID State Name EYW FL Key West International Airport, Key West, FL MTH FL Florida Keys- Marathon Airport, Marathon, FL SUM $100,000,000 each occurrence/offense in respect of Bodily Injury, Personal and Advertising Injury INSURED: and Property Damage combined, subject to the following limitations: Products-Completed Operations Annual Aggregate Limit. . . . . . . . . . . . . . . . . . . . . . . . $100,000,000 Personal Injury and Advertising Injury Annual Aggregate Limit. . . . . . . . . . . . . . . . . . . $50,000,000 Malpractice Annual Aggregate Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $50,000,000 Extended Coverage—War, Hi-jacking and Other Perils Annual Aggregate Limit. . . . . . Not Insured Fire Damage Limit Any One Fire. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $250,000 Medical Expense Limit Any One Person. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $25,000 Hangarkeepers not "in flight" Limit Any One Occurrence. . . . . . . . . . . . . . . . . . . . . . . . $100,000,000 Hangarkeepers not "in flight" Limit Any One Aircraft. . . . . . . . . . . . . . . . . . . . . . . . . . . $100,000,000 Non-Owned Aircraft Liability Limit Any One Occurrence. . . . . . . . . . . . . . . . . . . . . . . . . $100,000,000 Excess Automobile Liability(off premises) $50,000,000 excess of$5,000,000 any one accident/occurrence Excess Employers Liability (excluding disease) $50,000,000 excess of$1,000,000 any one accident/occurrence DEDUCTIBLE: Nil Each Occurrence or offense, but not to exceed Nil annual aggregate CONDITIONS: The Airport Owners and Operators General Liability Policy contains, inter alia,the following exclusion clauses: War, Hi-Jacking and Other Perils Exclusion Clause Noise, Pollution and other Perils Exclusion Clause The policy is also subject to the following: 90 days notice of cancellation, non-renewal or reduction in coverage by Insurer, but 10 days notice for non-payment of premium. This provision does not override the Automatic Termination review or cancellation provisions of endorsements AAP 203 or AAP 237. The policy may be cancelled or nonrenewed subject to the terms of the following endorsement AAP FL(11/99) Florida Changes-Cancellation and Nonrenewal Page 2 of 4 5347 Schedule of Policy Forms applicable to airports and locations Florida in: Form Reference Title and Edition AAP 200 (10-24) Airport Owners and Operators General Liability Policy-Jacket AAP 201 (11/99) Airport Owners and Operators General Liability Policy- Declarations AAP 2015 (11/99) Airport Owners and Operators General Liability Policy-Schedule of Endorsements AAP 202 (11/99) Airport Owners and Operators General Liability Policy AAP 203 (02/08) Extended Coverage-War, Hi-jacking and Other Perils Endorsement AAP 204-FL(01/05) Amendment of Noise and Pollution and Other Perils Exclusion AAP 206 (11/99) Extension - Broad Designated Airmeet, Contest or Exhibition Endorsement AAP 211 (03/09) Extension-Specific Excess Automobile Liability Insurance AAP 220 (11/99) Immunity Waiver Endorsement AAP 227 (03/09) Extension-Specific Excess Employers Liability Insurance AAP 228 (11/99) Cancellation Notification Change AAP 234(11/99) Airport Limited Enhanced Coverage Endorsement AAP 237 (11/99) Nuclear Risks Exclusion Clause AAP 238 (10/08) Excess Automobile Liability (plus Business Auto Policy, CA 00 0110 01) AAP 242 (11/99) Personal Injury Limitation Endorsement AAP 248 (11/99) Volunteers Endorsement AAP 250 (11/99) Employee Benefits Liability Endorsement Limit of Liability 500,000 Deductible Nil Premium Included AAP 255 (03/08) Date Recognition Limited Coverage Endorsement AAP 256 (11/99) Date Recognition Exclusion Endorsement AAP 267-FL(01/05) Fungi or Bacteria Exclusion - Florida AAP 268-FL(01/05) Asbestos or Asbestos-Containing Materials or Products Exclusion Endorsement- Florida AAP 270-FL(02/16) Certified Acts of Terrorism; Cap on Losses from Certified Acts of Terrorism Endorsement- Florida AAP 271 (01/05) Definition of"Bodily Injury" Endorsement AAP 273-FL(01/05) Amendment of Noise and Pollution and Other Perils Exclusion Endorsement- Florida AAP 277-FL(01/06) Silica Exclusion AAP 294(06/06) Land Acquisition Endorsement Description of Land Acquisition All land acquired by the Named Insured in accordance with their Airport Master Plan. AAP 306 (03/08) Infringement of Copyright, Patent,Trademark or Trade Secret Endorsement AAP 307 (03/08) Amendment to Supplementary Payments (Court Cost) Endorsement AAP 316 (03/24) Exclusion—Access To Or Disclosure Of Confidential Or Personal Material Or Information—Advertising Or Personal Injury AAP 317 (03/24) Exclusion—Perfluoroalkyl And Polyfluoroalkyl Substances (PFAS) Page 3 of 4 5348 AAP 340 (03/24) Information Laws and Data Privacy Exclusion AAP 342 (03/24) Loss In Progress Endorsement ALL-20887 (10/06) ACE Producer Compensation Practices & Policies ALL-21101 (11/06) Trade or Economic Sanctions Endorsement ALL-5X45 (11/96) Questions About Your Insurance IL P 001 (01/04) U.S.Treasury Departments' Office of Foreign Assets Control ("OFAC") Advisory Notice to Policyholders MS-387810 (08/24) CHANGES TO LIQUOR LIABILITY EXCLUSION Endorsement TR-19604e (08/20) Notice Of Terrorism Insurance Coverage ANNUAL GL Premium: $67,581 ANNUAL TRIA Premium: $1,148 ANNUAL WAR Premium: $6,759 The War and TRIA coverages and premiums are quoted on an "if required" basis and may be rejected by the insured. Taxes/Fees will be charged in addition to premiums for airports and locations in subject jurisdictions as follows TAXES, ETC.: 1.00% Florida Insurance Guaranty Association (FIGA) Emergency Assessment Surcharge Please note that you do not have authority to bind the above insurance. Please contact us if you wish to bind this insurance. We look forward to receiving your instructions and thank you for your inquiry. On behalf of ACE Property and Casualty Insurance Company By Authorized Representative Page 4 of 4 5349 CHUBB° POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE You are hereby notified that under the Terrorism Risk Insurance Act, as amended, you have a right to purchase insurance coverage for losses resulting from acts of terrorism. As defined in Section 102(1) of the Act: The term "act of terrorism"means any act or acts that are certified by the Secretary of the Treasury---in consultation with the Secretary of Homeland Security, and the Attorney General of the United States---to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER, YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA, THE UNITED STATES GOVERNMENT GENERALLY REIMBURSES 8o% , OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS THAT MAY BE COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. YOU SHOULD ALSO KNOW THAT THE TERRORISM RISK INSURANCE ACT, AS AMENDED, CONTAINS A $ioo 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 $ioo BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED $ioo BILLION,YOUR COVERAGE MAY BE REDUCED. Acceptance or Rejection of Terrorism Insurance Coverage I hereby elect to purchase terrorism coverage for a prospective premium of$1.148 I hereby decline to purchase terrorism coverage for certified acts of terrorism. I understand that I will have no coverage for losses resulting from certified acts of terrorism. Monroe County Board of County Commissioners ACE Property and Casualty Insurance Company Policyholder/Applicant's Signature Insurance Company No0985004 022 Print Name Policy Number Date TR-19604e(08/20) 5350