Humboldt County

Insurance Proposal

Wells Fargo Insurance Services Confidential. © 2006 Wells Fargo Insurance Services. All rights reserved.By: Stephen B Romero

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With this renewal the Pool is entering into its 27th year of existence, clearly demonstrating the long-standing value of membership and commitment to pooling. The Pool has grown from the original 4 members , starting May 15, 1987, to 114. The Pool consists of 14 counties, 12 cities, 15 school districts and 73 towns and special districts throughout Nevada. The Public Agency Compensation Trust (PACT) is entering its 18th year of providing Worker’s Compensation for Member entities.

POOL/PACT Program Highlights

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Membership in the Nevada Public Agency Insurance Pool provides each member with a wide range of services and financial risk management. The material included in this proposal provides you with a description of services, resources, programs and products as well as a program overview.

POOL/PACT may award its members a Grant to assist with risk management needs including training, attending conferences, OSHA or other requirements, employee safety.

Highlight – cont.

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Humboldt County Premium Comparison

2009 -- 2010 2010--2011 2011--2012 2012--2013 2013--2014 2014--2015

           

POOL LOSS FUND Included Included Included Included Included Included

INS./ADM COSTS   497,953.30 519,257.85 548,217.76 524,515.35 544,555.44 512,289.67

TOTAL COSTS   497,953.30 519,257.85 548,217.76 524,515.35 544,555.44 512,289.67

ADDITIONAL POLICIES NOT INCLUDED IN ABOVE

Treasurer's Bond @ $500,000 Landfill Financial Assurance Program

Policy Period: 01/01/14--15 Policy Period 07/01/99--49

Annual Premium: $1,750.00 no change 15 Annual Last installment 2014

Non-Owned Aircraft Liability Install. @ $60,338.00

Policy Period: 01/17/14--15 Worker's Compensation Program (PACT)

Annual Premium: $1,895.00 no change Policy Period 07/01/14--15

Denio Airstrip Liability Mod.Factor 0.73

Policy Period: 07/01/14-15 Prior Yr. Mod. 0.81

Annual Premium: $1,235.00 no change Premiums are based on actual Payroll

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The maintenance deductible is $2,000. There was an approximate decrease in the renewal premium of 6.3%.

The rates over all Pool members remained close to flat over the expiring year and any premium changes came from the entities exposure. Error on the proposal, Earthquake and Flood limited are increased to $125,000,000.

PACT rates increased by 3.2% over last year and the Police/Fire Heart funding has increased 10% to adjust for the long term actuarial projections.

Our industry has seen between a 0% - 5% increase in all lines of coverage on the commercial insurance rates. We are still seeing a hard market to place high limits of Earthquake.

Humboldt County

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