SUBJECT
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Approve Public Entity General Liability insurance effective October 1, 2025, through September 30, 2026. (one-time payment of $514,250)
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DESCRIPTION
The Public Entity General Liability Insurance policy is currently written with Lloyd's of London and expires on September 30, 2025. This policy covers General Liability, Law Enforcement Liability, Automobile Liability, Employment Practices Liability among others, and extends to the BoCC and all Constitutional Offices. The expiring annual premium was $552,800.
County insurance broker, Brown and Brown of Florida, Inc., has marketed our insurance coverage to various liability insurers with the Lloyd's of London syndicate again providing the most favorable premium pricing. The most favorable renewal quote is $514,250, representing a decrease of $38,550 (7% reduction) from the expiring premium, with no change in coverage, retentions, or limits.
RECOMMENDATION
Request Board approval for the Risk Management Director to bind coverage with Lloyd's of London for Public Entity General Liability insurance for the total annual amount of $514,250.
FISCAL IMPACT
Funds are available in the Risk Management General Fund Budget.
CONTACT INFORMATION
Mark Thomas
Director, Risk Management
863-534-5265