SUBJECT
title
Approve the annual Aviation insurance policy renewal effective October 31, 2024 through October 31, 2025. ($246,619.46 annual expense).
body
DESCRIPTION
The current Aviation insurance policy is written with Chubb/Westchester Fire Insurance Company and expires on October 31, 2024. Chubb/Westchester Fire has an AM Best rating of A++ XV rating them as a superior company with regards to financial stability.
This policy covers both the liability and hull values for the 5 helicopter and 2 fixed wing aircraft fleet, operated by the Sheriff’s Office and BoCC Mosquito Control. Coverage extends to chemical liability for mosquito abatement, as well as acts of terrorism.
The renewal quote has a 7.8% premium rate increase, with coverage including the two most recently acquired aircraft (2023 Kodiak 100 and 2005 Bell 206B3).
RECOMMENDATION
Request Board approval for the Risk Management Director to bind insurance coverage with Chubb Insurance for Aviation insurance (effective October 31, 2024) as detailed above, for a total annual cost of $246,619,46.
FISCAL IMPACT
Funds are available in the Risk Management General Fund Budget.
CONTACT INFORMATION
Mark Thomas
Director, Risk Management
863-534-5265