SUBJECT
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Approve the renewal of the Public Entity Liability Insurance policy for the period October 1, 2026, through September 30, 2027, at a one-time premium of $400,300.
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DESCRIPTION
The Public Entity Liability Insurance policy provides coverage for the BoCC and all Constitutional Offices, including General Liability, Law Enforcement Liability, Automobile Liability, Employment Practices Liability, and other covered exposures. The policy is currently underwritten by Lloyd's of London and expires September 30, 2026. The expiring annual premium is $514,250.
Risk Management worked with the County’s insurance broker, Brown & Brown, to market the coverage to multiple liability insurers. Following this marketing effort, Gemini Insurance Company provided the most competitive renewal quote of $400,300 with equivalent terms and conditions, representing a 22.2% decrease from the expiring premium. Gemini Insurance Company carries an A.M. Best financial strength rating of A+ (Superior), Financial Size Category XV.
RECOMMENDATION
Request Board approval for the Risk Management Director to bind coverage with Gemini Insurance Company for Public Entity Liability Insurance for the total annual premium of $400,300.
FISCAL IMPACT
Funds are budgeted and available in the Risk Management General Fund Budget.
CONTACT INFORMATION
Mark Thomas
Director, Risk Management
863-534-5265