Subject:
Title
Approval of Casualty Program Renewal for FY 26-27
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Fiscal Impact:
Projected premium cost $2,591,205. This will not require changes to the budgeted revenue requested in FY2026-27.
Dept/Office:
Office of Human Resources/Risk Management
Requested Action:
Recommendation
We request the Board to approve renewal of the County’s current casualty lines of insurance coverage in addition to adding the recommended new lines of coverage at a projected total cost of $2,591,205 and authorize the Risk Manager to bind the recommended coverage as described below.
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Summary Explanation and Background:
We instructed the County’s authorized insurance broker, Brown & Brown, to obtain market quotes for the 2026-27 renewal cycle. The renewal recommendations are:
*NOTES:
The Pollution Liability policy is renewed every 3 years and paid in full at year 1. The current 3-yr policy expires on 9/30/2026. The new premium reflects a 0.74% increase ($768) over the last three-year policy.
Brevard County Sheriff’s Office will not be participating in the Workers’ Compensation program as of October 1, 2026. As a result, the premium was reduced. The County will continue to incur claim costs for BCSO Workers’ Compensation claims made for injuries that occurred prior to October 1, 2026.
The Aviation Liability policies are on a 3-yr term (2025-2028). The FY 26-27 premium reflects a prorated annual amount.
In addition, the following new coverages are recommended:
The County is currently 100% self-insured for auto physical damage. Based on an evaluation of 3 years of data, Risk Management projects an estimated annual savings of $87,000 by adding this coverage.
The County is currently 100% self-insured for Firefighter Cancer claims. Based on the current claim trend, the County is projected to see savings by purchasing commercial Firefighter Cancer claim coverage.
The total projected cost to renew the current casualty program and add the two new lines of coverage is $2,591,205. This reflects a 1.17% decrease in total premium over FY 25-26. In addition, the County is projected to see additional savings on claim costs by including the additional coverages.
Risk Management requests that the Board authorize the Risk Manager to execute Insurance Binders, Trust Agreements and contracts as necessary to renew insurance coverages as outlined above.
Clerk to the Board Instructions:
Please provide a copy of the Clerk’s Memo to Human Resources.